Skid Resistant Coatings Market Analysis:
Skid resistant coatings are acrylic resins with better viscosity and low content of Volatile Organic Compound (VOC). Properties of skid resistant coatings include fast drying components, durability, substantial water-dispersion, and enhanced adhesion. Use of skid resistant coatings on floors helps to avoid slippage of commuters on busy locations. Almost all the companies use skid resistant coating where workforce is more.
Anti-skid coatings help companies save lives and look after the safety of employees. Negligence in using proper anti-skid coatings can also lead to loss of productivity and injuries. Manufacturers of anti-skid coatings use epoxy and polyurethane coatings to provide grip to the surface. Skid resistant coatings help to provide a rough effect to the surface. It is considered as the most cost-effective solution that sustains for a longer period of time.
COVID-19 scenario analysis:
- The novel coronavirus) outbreak has slowed down the economic growth of countries across the world. COVID-19 has a massive impact on construction projects as all the construction work is banned.
- The housing sector is expected to witness muted demand with significant reduction in new launches.
- Ports are also expected to experience reduced traffic volume, which directly impacts the transportation of goods and raw materials.
- The outbreak has negatively affected the residential building construction as builders and contractors are struggling to obtain permits for new and in-process projects, thereby hampering the skid resistant coating market.
- The Europe coatings market was facing the prospect of a deep recession caused by the effects of lockdowns. As a result, the demand for coatings virtually collapsed for a period.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The growth of the skid resistant coatings market is driven by government activities such as construction of roads, healthcare, and educational institutes. In addition, construction of new malls, infrastructure, and restaurants is expected to create opportunities for the skid resistant coatings market. Further, the real estate sector recovery and new constructions projects are estimated to drive the commercial and residential construction activities. Anti-skid coatings are mostly used in industrial buildings. In residential and commercial buildings, anti-skid coatings provide rich surface with attractive textures. Proper application of anti-slip coatings on the floor not only avoids accidental slipping but also keeps the shine of existing surface for longer time. Furthermore, good quality anti-slip coatings are extremely resistant to scratches and the layer of these coatings is not easily diminished on regular cleaning and washing.
Anti-slip coating is a weather based product, which is dependent on moisture and temperature below 10 degrees; therefore, applying skid resistant coatings is not favorable. However, skid resistant coatings are time consuming and weather-dependent application, which hamper the market growth.
Surge in usage of skid resistant coatings in industrial applications:
By region, the global skid resistant coatings market is fragmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to represent the highest growth with China, Japan, and India being the key sources of growth. Increase in income and expenditure levels are the major reasons for the growth of the market in Asia-Pacific countries. Developed countries in North America and Europe mainly invest in infrastructural activities & modern life style. Therefore, attributed to this fact, the skid resistant coatings market has significant growth potential in North America and Europe. Companies operating in the anti-skid coatings market in Asia Pacific and Latin America primarily invest in R&D activities. Skid resistant coatings are widely used in industrial and mass transit places, including hypermarkets, supermarkets, indoor entertainment centers, airports, and metro stations.
Key benefits of the report:
- This study presents the analytical depiction of the skid resistant coatings market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global skid resistant coatings market share.
- The current market is quantitatively analyzed to highlight the global skid resistant coatings market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the skid resistant coatings market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Skid Resistant Coatings Market Report Highlights
By End Use Industry
Key Market Players
PPG Industries, Sherwin Williams, 3M, No Skidding Products, ParameltRmc, Hempel A/S, Skidproof, Safemate Anti-Slip Pty, Axalta Coating Systems, Randolph Products, Amsteps Products, RPM International