“The market for anti-slip additives is expected to grow at a CAGR of about 4% globally during the forecast period.
Increasing application in industrial flooring and growing demand from marine industry are driving the market growth.
Stringent environmental regulations and other restraints are expected to hinder the growth of the market studied.
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Key Market Trends
Growing Application in Industrial Flooring
– Anti-Slip Additives, when added to coatings, improve the skid resistance to the coatings and can be applied on different substrates like wood, metal, fiberglass and concrete surfaces. These anti-slip additives added coatings are applicable for different areas among which industrial flooring leads in the application.
– Anti-Slip Additives does not change the color, performance or properties of the paint or coatings to which they are added. They can be added to water or solvent based system with minimal viscosity effects and also increases slip resistance to the coated floor.
– Stringent regulations from government to maintain industrial safety are increasing the application of anti-slip additives to coatings in industries.
– About 296 Approved Cold Chain Projects in Food Processing have been approved in India as on May 2019 creating a major scope for the usage of anti-slip additives in the industry.
– Chinese pharmaceutical industry, which is valued at about USD 145 billion currently, represents the biggest emerging market with growth tipped to reach about ~USD 200 billion by 2022, thus increasing the scope of the market over the coming years.
– Industrial sector leads in the utilization of anti-slip additives with China, United Kingdom, United States, India, Japan playing a major role in this market.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market for anti-slip additives during the forecast period. In countries like China, India and Japan because of growing industrial safety, the demand for anti-slip additives has been increasing in the region.
– The largest producers of anti-slip additives are located in Asia-Pacific region. Some of the leading companies in the production of anti-slip additives are Hempel A/S, BYK(ALTANA), Axalta Coating Systems, Jotun and Rust-Oleum.
– The usage of anti-slip additives is more dominant in manufacturing industries like chemicals & pharmaceuticals, automotive, packaging and other industries.
– In Marine industry these anti-slip additives added coatings are applied on floors, decks of ships and boats to increase slip resistance.
– According to Ship Builders Association of Japan, the gross tonnage of ship size covered 14,354 by end of June 2019 which was 15,097 tonnage by the end of December 2018 creating growth in the market of anti-slip additives.
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