NEWARK, Del, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The global Road Marking Paints and Coatings Market is projected to be valued at US$ 11.6 billion by 2032, rising from US$ 8.1 billion in 2022. The target market is set to expand at a sluggish CAGR of 3.5% from 2022 to 2032. Valued at US$ 7.2 billion in 2021, the road marking paints and coating market will present steady growth for the forecast period of 2022 to 2032 owing to surging awareness of road safety measures among the common population, implementation of strict regulations by governments across the world, and increasing road connectivity.
In recent years, road connectivity across remote areas has witnessed an exceptional surge. As a result, governments all over the globe are increasingly investing in developing public infrastructures which is expected to spearhead the demand for road marking paints and coating market in the upcoming years. Further, the growing population has led to an upsurge in the sales of vehicles which, in turn, spurs the demand for road marking paints and coatings. The emergence of high-performance road pavement markings with improved contrast, durability, and reflectivity is also encouraging the growth of the road marking paints and coating market over the next couple of years.
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The introduction of water-borne surface coatings is gaining swift popularity and will likely aid the growth of the overall market. These coatings are 80% water and thus eco-friendly in nature. The water-borne surface coatings also offer superior sealing effects, are rub-resistant, and high gloss, and create a strong adhesion to the substrate which increases their resistance to rust and weathering. These inherent properties of water-borne surface coatings opens up new avenues of growth for the road marking paints and coating market. Additionally, epoxy coatings also create attractive opportunities for the market as they are extensively used in heavy-traffic areas. Epoxy coatings are often preferred because of their resistance to transmission fluids, gasoline, and oil.
Other factors like increasing infrastructural spending by regulatory bodies, the greater focus of private organizations on road maintenance, and growing governmental investments in the development of smart street marking machines also contribute to the growth of the market. All of the aforementioned considerations, along with others, fuel the growth of the road marking paints and coating market during the projection period.
Key Takeaways:
- Implementation of strict regulations regarding VOC emissions will stymie the growth of the road marking paints and coating market during the assessment period.
- By type, the water-based coating segment was valued at US$ 63.51 billion in 2021 and will continue to demonstrate growth during the assessment period owing to its sustainable properties.
- In terms of application, the road marking lines held a market share of 55.1% in 2021 and will have positive growth between 2022 and 2032.
- Asia Pacific road marking paints and coating market will assume the lead in the global marketplace owing to the implementation of strict regulations by government agencies to lessen highway fatalities.
- Infrastructure development will account for the growth of the road marking paints and coating market in North America.
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Competitive Landscape
3M, Ennis-Flint Inc., SWARCO AG, Berger Paints, Geveko Markings, US Specialty Coatings, and Aximum, among others, are some of the primary players in the road marking paints and coatings market profiled in the full version of the report.
In a fragmented and competitive environment, eminent market players are concentrating on producing progressive goods such as durable, reflective, and temperature-sensitive paints. These firms are deploying capacity expansion strategies, mergers, acquisitions, partnerships, and collaborations to enhance their market position.
Key Segments Profiled in the Road Marking Paints & Coatings Industry Survey
By Material Type:
- Acrylic
- Epoxy
- Thermoplastics
- Other Resins
By Solvent:
- Water Based
- Organic Solvent Based
- Powder Based
By Application:
- Highway Road
- Warehouse Floor
- Landing Strips
- Park Way
- Car Parking
- Ramps
- Zebra Crossing
- Others (Kerb Stones, Center Line, Speed Humps, Edge Line)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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More Insights into Road Marking Paints And Coatings Market
In its latest report, FMI offers an unbiased and detailed analysis of the global road marking paints and coatings market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of material type, solvent, application, and region.
According to the same reports, based on segmentation, the epoxy material type segment and the water-based solvent category will dominate the international market space. In terms of application, highway roads, and zebra crossing will likely lead the market. Based on region, Asia Pacific and North America are estimated to be significant contributors to the global growth of the road marking paints and coating market during the forecast period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
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