NEWARK, Del, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The LATAM road marking paint & coating industry value is forecast to increase from US$ 70.0 million in 2023 to US$ 131.3 million by 2033. Over the assessment period, demand for road marking paints & coatings in LATAM is projected to surge at a CAGR of 6.0%.
The performance-based segment is expected to dominate the LATAM road marking paint & coating industry through 2033. It will likely hold a volume share of 58.2% by 2023. On the other hand, the paint-based markings segment is set to exhibit a robust CAGR of 6.9% through 2033.
The road marking paint and coating industry in Latin America is witnessing significant growth driven by diverse factors. These include rapid urbanization, the rising popularity of durable retro reflective paints, and growing emphasis on improving road safety.
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Demand for durable retroreflective paints is rising across the LATAM. This is because these paints are increasingly used for road markings to improve the driving experience and enhance road safety.
Urbanization trends in Mexico, marked by the development of city malls, drive the need for road marking paints & coatings for efficient parking solutions. This will boost the target industry during the assessment period.
The extensive road networks in Brazil and Mexico underscore the urgent need for effective road marking systems. The integration of intelligent transport systems enhances road safety and efficiency.
The aviation network in Brazil, with almost 4,000 airports, further contributes to the demand for road marking products. Overall, the industry's evolution is fueled by infrastructure expansion, urbanization, a focus on sustainability, and technological advancements.
Key Takeaways from the Report
- The LATAM road marking paint & coating revenue is set to expand at a CAGR of 6.0% through 2033.
- By material type, the performance-based segment is expected to total US$ 67.9 million by 2033.
- Based on marking type, the permanent marking type segment is set to hold a market share of 71.4% in 2023.
- Mexico is expected to account for a significant share of about 19.4% in 2023.
- Brazil’s industry value is anticipated to reach US$ 26.7 million in 2033.
- Argentina is projected to attain a valuation of US$ 12.8 million by 2033.
“In Latin America, the road marking paint & coating industry is evolving with a focus on durability, visibility, and sustainability. Integration of advanced technologies and a robust infrastructure will drive long-term growth,” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Who is Winning?
Key players are focusing on developing durable and environmentally friendly road marking solutions to boost their sales and comply with regulations. They are also employing strategies like mergers, partnerships, and acquisitions to strengthen their presence in the LATAM region.
Recent development:
- In 2022, Aexcel Corporation unveiled new innovations, including LowVOK and Jet-Dry Waterborne Traffic Paints, at the National Pavement Expo in Charlotte, NC.
Key Companies Profiled
- Sherwin Williams Company
- Asian Paints PPG
- Aximum
- Pidilite Industries
- Ennis-Flint Inc.
- US Specialty Coatings
- SealMaster
- Geveko Markings
- Dow Inc.
- Aexcel Corporation
- Watco Industrial Floors
- Nippon Paints
- Crown USA Inc.
- ATS Traffic
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LATAM Road Marking Paint and Coating Industry Segmentation
By Material Type:
- Performance-based
- Marking Tape
- Thermoplastics
- Cold Plastics
- Paint-based Markings
- Solvent-borne Markings
- Water-borne Markings
- 2-Component Epoxy
- Others
By Marking Type:
- Permanent
- Removable
By Sales Channel:
- B2B Sales
- Road & Highway Marking
- Pavement Marking
- Airport Marking
- B2C Sales
- Parking Lot Marking
- Factory Marking
- Field Marking
By Region:
- South America
- Central America
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Related Research Reports on Chemicals & Materials: Navigating Industry Developments
The market is anticipated to attain a value pool of US$ 5 billion by 2023-end. Global demand for road marking paint is expected to rise at a CAGR of 4.8% to US$ 8 billion in 2033.
The market size is expected to increase from US$ 1,902.0 million in 2023 to US$ 2,899.8 million by 2033. Over the next decade, global road marking paint & coating sales are likely to soar at 4.3% CAGR.
The global traffic road marking coatings market is expected to reach a market valuation of US$ 5.22 Billion by the year 2022, accelerating with a moderate CAGR of 6% by 2022 to 2032.
The acrylic paints market is growing at an average pace and is anticipated to record a CAGR of 4.5 % from 2022 to 2032.
The epoxy paints market is likely to estimate a CAGR of 5% through 2032. The market is likely to be estimated at US$ 36.38 Billion by 2032, up from its current valuation of US$ 59.26 Billion in 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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