USD 5.2 billion
Traffic Road Marking Coatings Market Size, Share, Growth Analysis, By Application(road marking lines and road marking labels), By Type(permanent and removable), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2149 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
59
|Figures:
77
Traffic Road Marking Coatings Market Insights
Global Traffic Road Marking Coatings Market size was valued at USD 5.2 billion in 2022 and is poised to grow from USD 5.51 billion in 2023 to USD 8.79 billion by 2031, growing at a CAGR of 6.00% during the forecast period (2024-2031).
Increasing infrastructure development spending for new highway construction and focusing on repair and maintenance operations are expected to be key driving factors for the global market. The industry is associated with both new road construction and existing maintenance businesses, which drives the demand for repainting. The market has seen an increase in investments in intelligent street marking systems and machines that record driver speed, driving conditions, and temperature while communicating it to the vehicle's sensor system. Paint is commonly used to mark travel lanes, loading zones, and parking spaces.
Because of its properties such as longevity and retro-reflectivity, thermoplastic coat, also known as hot melt marking, is gaining popularity. A cold-applied plastic sheet used to mark traffic lanes, crosswalks, and stop bars is preformed polymer tape. Epoxy is a dependable and cost-effective solution that consists of a pigmented resin base and a catalyst. Because of its low cost and high reliability, this coating type is preferred over plastic materials.
US Traffic Road Marking Coatings Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
permanent
Fastest Growth
permanent
Growth Rate
6.00% CAGR
The global traffic road marking coatings market, 2021-2028($Bn)
country share region for asia pacific region, 2022(%)
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Traffic Road Marking Coatings Market Segmental Analysis
The market for traffic road marking coatings is divided into product, type, and application segments. The paint, thermoplastic, premade polymer tape, and epoxy segments of the market are separated based on product. The Traffic Road Marking Coatings Market is divided into two categories based on type: permanent and removable. The Traffic Road Marking Coatings Market is divided into two subgroups based on application: road marking lines and road marking labels. Based on Region Traffic Road Marking Coatings Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Traffic Road Marking Coatings Market Analysis by Application
Road marking lines have emerged as the most popular application category. The increased use of road marking lines as vehicle guidance is expected to increase demand. The marking designates the traffic path and the lateral clearance from traffic hazards for safe and efficient movement on the road. It can also direct traffic, inform drivers, and warn other road users.
Traffic Road Marking Coatings Market Analysis by Type
The permanent segment dominates the global traffic road marking coating market. Permanent aerosol paints are frequently used to mark traffic lanes because of their high solids and resin content, which increases their exterior durability and resistance to abrasion, weather, and water. Although there are many colors of aerosol paints, crosswalks, streets, highways, airport runways, and parking lots are frequently painted white or yellow.
The global traffic road marking coatings market by type, 2022(%)
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Traffic Road Marking Coatings Market Regional Insights
In recent years, the Asia Pacific region has dominated the global traffic road marking coatings market. In addition, it is expected to maintain its lead in the global traffic road marking coatings market in the coming years. Rising construction activities aimed at improving public infrastructure, as well as expanding government schemes and projects, are creating excellent growth opportunities in the Asia Pacific global traffic road marking coatings market. Europe has recently experienced significant growth in the global traffic road marking coatings market.
Rising demand for improving the region's public and private infrastructure as a result of increased demand from the tourism industry is also positively influencing the global traffic road marking coatings market in Europe. In terms of volume, the North America region is also expected to witness significant growth in the global traffic road marking coatings market in recent years. Furthermore, the rapid industrialization of Latin American countries such as Brazil, Argentina, Chile, Mexico, and Colombia is promoting the growth of the global traffic road marking coatings market.
The global traffic road marking coatings market by geography, 2022-2028
- Largest
- Fastest
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Traffic Road Marking Coatings Market Dynamics
Traffic Road Marking Coatings Market Drivers
Road Accidents are Bolstering Demand for Traffic Road Marking Coatings
- Rising government funding and investments aimed at improving public infrastructure, including roads, will be one of the major factors driving growth in the global traffic road marking coatings market in the coming years. In the coming years, the growing emphasis on expanding road networks in remote areas, particularly in developing and developed economies, is expected to provide valuable growth opportunities in the global traffic road marking coatings market. Rising road safety concerns will drive demand in the global traffic road marking coatings market in the coming years.
- One of the most significant driving factors for the global traffic road marking coatings market is the increasing number of road accidents worldwide. According to a World Health Organization (WHO) report, nearly 1.35 million people die in road traffic accidents each year. This, combined with increasing initiatives and strict traffic regulations imposed by governments worldwide, is driving sales in the global traffic road marking coatings market.
Traffic Road Marking Coatings Market Restraints
Stringent Regulations to Hinder Market Growth
- Paints and coatings are major emitters of volatile organic compounds (VOCs). VOCs are extremely dangerous to the environment and living organisms, and certain volatile organic compounds are carcinogenic and can even cause animal cancer. Furthermore, volatile organic compounds like styrene and limonene can combine with nitrogen oxides to form secondary aerosols. Furthermore, they contribute to the formation of tropospheric ozone and smog. Stringent regulations imposed by government authorities and organisations to limit VOC emissions are expected to limit market growth.
- The economic crisis, which was already being made worse by a lack of liquidity in the financial sector, was made worse by COVID-19. The abrupt and strict lockdown imposed by various governments has caused a number of projects to be abandoned at various stages.
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Traffic Road Marking Coatings Market Competitive Landscape
Key advancements in the market for traffic road marking coatings are discussed in the research, along with both organic and inorganic growth tactics. Many businesses are putting an emphasis on organic growth initiatives, including new launches, product approvals, and others like patents and events. Acquisitions, partnerships, and collaborations were examples of inorganic growth tactics that were observed in the market.
Traffic Road Marking Coatings Market Top Player's Company Profiles
- The Sherwin-Williams Company
- Geveko Markings Sweden AB
- Swarco AG
- Ennis Flint Inc.
- Dow Inc.
- Lanino Road Marking Products Ltd.
- 3M Company
- Hempel A/S
- Asian Paints PPG Pvt. Ltd.
- Kestrel Thermoplastics Ltd.
- Crown Technologies LLC
- Ozark Materials LLC
- SealMaster
- Dow Corning Corporation
- Kelly Bros. Erinline
- Aximum S.A.
- Titan Roadway
- Flint Trading Inc.
- Viz Reflectives UK Ltd.
- Borum A/S
Traffic Road Marking Coatings Market Recent Developments
- April 2022- Sherwin-Williams Completed the Acquisition of the European Industrial Coatings Business of Sika. The Sherwin-Williams Company (NYSE: SHW) declared that the purchase of Sika AG's European industrial coatings business had been completed. The acquired company will be incorporated into the company's Performance Coatings Group operating segment.
- June 2022- Sherwin-Williams Acquired German Industrial Coatings Company, Gross & Perthun GmbH. The Sherwin-Williams Company (NYSE: SHW) announced an agreement to acquire Gross & Perthun GmbH, a developer, manufacturer, and distributor of coatings primarily for the transportation and heavy equipment industries headquarters in Mannheim, Germany.
Traffic Road Marking Coatings Key Market Trends
- Throughout the expected timeframe, the market for road marking coatings will have considerable potential prospects due to the increased spending by governments in various nations on the construction of new roads and highways. Additionally, the market is anticipated to grow as eco-friendly road marking solutions are developed.
- The fast rise in traffic congestion around the world is a crucial factor in this industry's expansion. The industry's expansion is supported by growing concerns about highway safety as well as the requirement to effectively control and manage road traffic. The number of highway accidents has significantly increased, which motivates governments to upgrade the highway infrastructure.
Traffic Road Marking Coatings Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Materials called traffic lane coatings are used to identify roads and curbs to enhance public safety and traffic flow. Road signs manage, direct, warn of hazards, and provide information to motorists. Traffic road marking coatings are used for a variety of purposes, including identifying highway lanes, edge lines, zebra crossings, centerlines, and parking structures. Several materials, including paints, thermoplastics, and epoxy, are used for lane colouring. Market investment has increased in intelligent roadside marking systems and tools that record drivers' speeds, road conditions, and temperatures while sending information to the vehicle's sensor system. Parking spots, loading zones, and travel lanes are all painted with signs. Highway construction has increased, particularly in developing Asia-Pacific and Latin American countries, which has accelerated the development of this business.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.2 billion |
| Market size value in 2031 | USD 8.79 billion |
| Growth Rate | 6.00% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Traffic Road Marking Coatings Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Traffic Road Marking Coatings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Traffic Road Marking Coatings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Traffic Road Marking Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Traffic Road Marking Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Traffic Road Marking Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Traffic Road Marking Coatings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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