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Traffic Road Marking Coatings Market Size
Traffic Road Marking Coatings Market is expected to witness noteworthy gains during 2024 and 2032, owing to growing public investments towards highways and road infrastructure.
According to PwC, infrastructure spending is projected to more than double, increasing from $4 trillion annually in 2012 to over $9 trillion annually by 2025. Governments and authorities are allocating substantial funds towards the development and expansion of highways, roads, and other transportation networks to accommodate growing traffic demands and enhance road safety.
The market is observing considerable revenue growth from diverse sectors, including factories, airports, and other industrial facilities. In factories, the use of road marking coatings on factory floors helps delineate pathways, work zones, and pedestrian walking zones, thereby improving safety and organization. Similarly, the expansion of airport infrastructure, particularly runway construction initiatives, is driving the product demand.
Traffic Road Marking Coatings Market Trends
One significant trend is the rising demand for environmentally friendly and durable road marking coatings, driven by stringent regulations and a growing emphasis on reducing carbon emissions & environmental impact. Manufacturers are innovating to develop water-based and low-VOC (volatile organic compound) formulations that offer superior durability and visibility while minimizing environmental harm. Additionally, the integration of smart technologies such as reflective and luminescent coatings is enhancing visibility and safety, especially in low-light conditions and adverse weather. The advancements in materials science and application technologies are enabling the development of long-lasting and cost-effective road marking solutions, further augmenting the industry outlook.
Traffic Road Marking Coatings Market Analysis
The thermoplastic segment is slated to register notable gains by 2032. Owing to its durability, safety, and cost-effectiveness, thermoplastic is increasingly used in coating formulation for pavement markings. Moreover, thermoplastic coatings are highly reflective, which makes them easier to spot even on busy roads. They are also weatherproof, and skid-resistant, and can be applied with precision to ensure road safety.
The factory application segment is slated to generate considerable revenues by 2032 as floor coating with painted lines helps delineate pathways and work zones for ensuring workers’ safety in factories. Additionally, use of these coatings helps clear pedestrian walking zones and create an organized factory space. Growing investments in factory floor marking is creating a notable impetus for segment growth.
North America traffic road marking coatings industry is poised to experience robust growth over 2024-2032, driven by the government focus on expanding highways and road infrastructure projects. Mega construction initiatives such as California’s I-5 North Coast Corridor Project and Virginia’s Hampton Roads Bridge-Tunnel Expansion Project are creating strong demand for road marking coatings in the region. Additionally, there is a growing focus among market players on launching high-quality road pavement markings with improved durability in the region, adding to the revenue scope of the market.
Traffic Road Marking Coatings Market Share
The list of prominent traffic road marking coatings industry players includes names such as:
- Monarch Industrial Product (I) Pvt. Ltd.
- Ennis-Flint (PPG Industries)
- Swarco AG
- Geveko Markings (Sollix Group)
- Dow Inc
These enterprises are focusing on takeovers and mergers to improve their business presence.
Traffic Road Marking Coatings Industry News
- In 2023, PPG sold its Traffic Solutions operations in Australia and New Zealand to Geveko Markings, a pavement markings specialist based in Sweden.