Inside the Anti-Slip Coatings Market Robust CAGR of 6.35%, With valuation of US$163 Million by 2023: MRFR
According to MRFR analysis, the global anti-slip coatings market is projected to reach USD 163 million with a robust CAGR of 6.35% during the assessment period. Safety of the employees is a prime concern for corporate offices and manufacturing sites.
Pune, India – April 23, 2019 /MarketersMedia/ —
Anti-Slip Coatings Market is expected to reach a valuation of USD 163 million by 2023 at a robust CAGR of 6.35% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global anti-slip coatings market is mainly driven by the increasing volume of construction activities and the increasing awareness about workplace safety in the construction industry.
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The increasing awareness about workplace safety in the construction industry, driven by the rising public awareness and growing government support to organizations such as OSHA, is likely to be a major driver for the global anti-slip coatings market over the forecast period. Slipping and falling can be a quite serious mishap, especially in areas involving high falls. In the construction industry, the construction of multi-storied structures raises this risk immensely. This is likely to be a key driver for the global anti-slip coatings market over the forecast period.
The increasing volume of construction activities around the world is likely to be a major driver for the anti-slip coatings market over the forecast period. Anti-slip coatings are coatings applied to floor surfaces to increase the friction and reduce the chances of slipping and falling on the floor. They also play a key role in maintaining the aesthetic appeal of the floor by adding gloss. The increasing demand for new construction in emerging regions such as Asia Pacific, the Middle East, and Eastern Europe, where urbanization is rampant, is likely to be a major driver for the global anti-slip coatings market over the forecast period.
On the other hand, the threat posed by volatile organic compounds present in anti-slip coatings to human health is likely to hinder the global anti-slip coatings market’s growth prospects over the forecast period. Anti-VOC regulations are likely to restrict the anti-slip coatings market’s scope for further growth over the forecast period.
Competitive Analysis:
Leading players in the global anti-slip coatings market include Hempel A/S, 3M, PPG Industries Inc., No Skidding Products Inc., RPM International Inc., Anti-Slip Anywhere, Safemate Anti-Slip SkidProof Ltd., Tesoplas, Paramelt, Axalta Coating Systems, Randolph Products, and Amstep Products.
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Segmentation:
The global anti-slip coatings market has been segmented on the basis of type, epoxy resin, application, end-use industry, and region.
Based on type, the global anti-slip coatings market has been bifurcated into water-based and solvent-based anti-slip coatings.
By epoxy resin, the global anti-slip coatings market has been classified as polyurethane resin, polyaspartic, acrylic, and others.
On the basis of application, the global anti-slip coatings market has been categorized into flooring, marine, and others. The flooring segment is further divided into industrial building, residential building, and commercial building. The construction flooring segment accounted for a dominant 52% share in the global anti-slip coatings market in 2017 and is likely to remain the major revenue generator for the anti-slip coatings market over the forecast period.
Based on end-use industry, the global anti-slip coatings market has been segmented into healthcare, construction, sports, and others.
Regional Analysis:
Asia Pacific is likely to dominate the global anti-slip coatings market over the forecast period, mainly due to the growing demand from the region’s construction industry. The growing urbanization in Asia Pacific has led to a rapid rise in the demand for new residential as well as commercial construction, which is likely to drive the demand for anti-slip coatings over the forecast period. Growing industrialization in countries like India, China, Taiwan, Korea, and Japan is likely to lead to a further increase in the demand for anti-slip coatings over the forecast period, with China leading the way in the Asia Pacific market.
North America accounts for the second largest market share in the global anti-slip coatings market due to the growing construction industry, which has recovered well from last decade’s crash and is showing signs of steady revival. The growing importance of workplace safety regulations in North America is likely to drive the anti-slip coatings market in the region over the forecast period.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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