Traffic Road Marking Coatings Industry Overview
The global traffic road marking coatings market size is likely to reach USD 8.27 billion by 2030 at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. Technological advancement is an important factor in the market growth as countries are becoming more concerned about public health and safety. Growing environmental concerns are driving the need for greener products in a bid to promote a healthy environment.
The market witnessed slight growth in 2020, despite the outbreak of the COVID-19 pandemic. The reduced traffics due to the restrictions on transportation/traveling and other vital economic activity benefitted several road maintenances, bridge & road construction, and building projects. Apart from road building, the restrictions on air travel and flight reductions provided a chance to evaluate runway construction windows.
Traffic Road Marking Coatings Market Segmentation
Grand View Research has segmented the traffic road marking coatings market based on product, type, application, and region:
Based on the Product Insights, the market is segmented into Paint, Thermoplastic, Preformed Polymer Tape, and Epoxy
- Thermoplastic coating is projected to emerge as the fastest-growing product segment and is estimated to accumulate 23.3% of market revenue share during the forecast period. Conventional paint is ideal for markings on private spaces and public streets.
- Preformed polymer tapes, also referred to as tape or cold plastic, are placed either over the surface of the pavement or the asphalt concrete during the hardening process. Along with its use for crosswalks and stop bars, it is also supplied in sheets from which unique shapes, forms, or letters can be designed.
Based on the Type Insights, the market is segmented into Permanent and Removable
- Permanent traffic road marking includes pavement tapes and paints. Aerosol permanent paints are widely used for traffic line marking. They exhibit an extremely high percentage of solid and resin content, contributing to exterior durability and water, weather, and abrasion resistance.
- Aerosol paints are available in a variety of colors but white and yellow are mostly preferred in several applications including crosswalks, streets, highways, airport runways, and parking lots.
- Removable traffic road markings are primarily used for painting signs, identification numbers, and direction arrows on warehouse floors, road construction zones, synthetic turf fields, and others. These paints are tough and durable, however, can be easily removed or can wear off when exposed to the environment in a year.
Based on the Application Insights, the market is segmented into Road Marking Lines and Road Marking Labels
- Road marking lines emerged as the largest application segment with a market share of 55.1% in terms of revenue in 2021. The rising usage of road marking lines to guide the vehicles on the road is expected to propel the demand for road marking lines in the coming years.
- Road marking labels is projected to emerge as the fastest-growing application segment owing to their high suitability for roads, public highways, and on-site applications.
Traffic Road Marking Coatings Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Manufacturers focus on developing innovative products, such as temperature-sensitive, long-lasting, reflective paints. The market is characterized by a high degree of forwarding integration expected by manufacturers to increase their position in the global market.
Some prominent players in the global Traffic Road Marking Coatings market include:
- AutoMark Technologies (India) Pvt. Ltd.
- The Sherwin-Williams Company
- Geveko Markings
- Ennis Flint, Inc.
- Crown Techno
- Dow Inc
- The 3M Company
- Swarco
Order a free sample PDF of the Traffic Road Marking Coatings Market Intelligence Study, published by Grand View Research.
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