Traffic Road Marking Coatings Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, South Korea, Brazil, Mexico, Saudi Arabia, UAE, Kuwait, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3817
Traffic Road Marking Coatings Market size is expected to grow steadily during the forecast time span. They are widely used for markings on roads, highways, parking lots, airport runways, race tracks, etc. Various factors such as temperature, sealant, dry time, amount of traffic, material type, etc. need to be considered while application of traffic road marking coatings. One of the most important benefit provided by these coatings is road safety. Traffic road marking coatings are highly reflective which enables people to recognize them in poor visible conditions or at nights or in extreme weather conditions. Additionally, traffic road marking coatings possess excellent wear resistant properties and provide longer lifespans to road marking infrastructures.
The traffic road marking coatings market will be primarily driven by increasing investments in road infrastructure. Roads are major part of transportation infrastructure and necessary for facilitating the growth of regional economy. According to Global Infrastructure Outlook, roads are one of the most prominent sectors among various public infrastructures and currently in need of large amount of investments for satisfying the public needs. As per the report published by Global Infrastructure Outlook, average annual global investment for roads between 2007 to 2017 was accounted for USD 586 billion and will require huge government spending in future owing to urbanization and increasing population. Such trends will bolster the traffic road marking coatings market size in upcoming years.
Nowadays, increasing number of road accidents is one of the leading concerns and posing some serious questions regarding safety measures of road infrastructures. According to World Health Organization, around 1.35 million people die every year due to road traffic crashes, around 20 to 50 million people suffer non-fatal injuries, and many incur disabilities of different forms. These accidents cost most of the countries around 3% of their gross domestic product. Unsafe road infrastructure is one of the leading factors causing road accidents and it has generated the need for better road safety measures. This in turn will trigger the demand of traffic road markings coatings as they significantly improve road safety and will certainly aid in minimizing road accidents. Moreover, technological advancements and increasing need of public parking spaces will propel the product demand between 2019 to 2025. However, the market growth may be hindered by low awareness associated with benefits of traffic road marking coatings and road safety.
Based on type, traffic road marking coatings are classified into thermoplastic, water-based and solvent -based and others. Thermoplastic marking coatings are composed of synthetic resin and premix glass beads. Moreover, extra additives are added to enhance the reflective capabilities. They are primarily used for parking lots, bus lanes, cycle lanes and high-traffic areas. It is used to improve the reflectivity of road markings which have been already faded. Water-based and solvent-based marking coatings are widely used for concrete and asphalt roads. Based on application, the traffic road marking coatings market is segmented into roads, highways, airport runways, parking lots and others.
Europe and North America will capture significant market share in traffic road marking coatings market owing to large road infrastructures and supportive government laws and regulations. European Union has adopted the Vison Zero and Safe system approach in order to increase awareness regarding road safety and minimize the casualties caused by accidents on European roads. Additionally, large transportation infrastructure investment will assist the market growth. In U.S., the Trump government announced USD 1 trillion infrastructure development plan including remodeling of highways, airports, bridges, etc. Asia Pacific region will capture considerable market share and displays huge potential for traffic road coatings market owing to rapid road infrastructure development activities. Countries such as China and India proposed future road & highway development projects which will boost the traffic road marking coatings market size during the forecast time span.
Some of the key players in traffic road marking coatings market share are Asian Paints Limited, Geveko Markings Sweden AB, Crown Technology, LLC, The Dow Chemical Company, The 3M Company, SealMaster Industries, Inc., Vertex Group, SWARCO AG, Ennis-Flint Inc., Ozark Materials, LLC, WJ Products Limited, Lanino Traffic Markings (Pty) Ltd., Kataline Infraproducts Pvt. Ltd., and others.
Traffic Road Marking Coatings Market, By Type, 2014-2025 (USD xx)
Traffic Road Marking Coatings Market, By Application, 2014-2025 (USD xx)
- Airport runways
- Parking lots
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Asian Paints Limited
- Geveko Markings Sweden AB
- Crown Technology, LLC
- The Dow Chemical Company
- The 3M Company
- SealMaster Industries, Inc.
- Vertex Group
- SWARCO AG
- Ennis-Flint Inc.
- Ozark Materials, LLC
- WJ Products Limited
- Lanino Traffic Markings (Pty) Ltd.
- Kataline Infraproducts Pvt. Ltd.
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