Traffic Road Marking Coatings Market Size, Share & Trends Analysis Report By Product (Paint, Thermoplastic, Epoxy), By Type (Permanent, Removable), By Application, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the traffic road marking coatings market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for traffic road marking coatings market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of traffic road marking coatings market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Traffic Road Marking Coatings Market Categorization:

The traffic road marking coatings market was categorized into four segments, namely product (Paint, Thermoplastic, Preformed Polymer Tape, Epoxy), type (Permanent, Removable), application (Road Marking Lines, Road Marking Labels), and region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The traffic road marking coatings market was segmented into product, type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The traffic road marking coatings market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; Mexico; Germany; France; Italy; the UK.; Russia; China; India; Japan; Australia; Brazil; Argentina; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Traffic road marking coatings market companies & financials:

The traffic road marking coatings market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• 3M Company , 3M Company is a diversified technology company established in 1902 and headquartered in Minnesota, U.S. It changed its name from Minnesota Mining and Manufacturing Company to 3M Company in 2002. The company has regional sales and manufacturing units in over 70 countries across North America, Europe, Asia Pacific, the Middle East, and Africa. The company has segmented its product portfolio into products for consumers and products for businesses. Products for businesses have been classified based on their end use, including automotive, commercial solutions, communication, design and construction, electronics, energy, healthcare, manufacturing, mining, oil and gas, safety and graphics, and transportation. Products for consumers have been classified based on the applications, including decorating, organizing and crafts, cleaning and protecting, office, home improvement, school supplies, personal health care, and sports and recreation. The company has been constantly involved in research and development in over 46 technology platforms, including abrasives, adhesives, electronics and software, nanotechnology, nonwoven materials, and surface modification. It had about 95,000 employees at the end of 2020.

• Dow Inc. , Dow Inc. was established on April 1, 2019, after being separated from Dupont. The company is headquartered in Midland, U.S. The company operates through three segments: industrial intermediates and infrastructure, performance materials and coatings, and packaging and specialty plastics. The company caters its plastic products to various end-use industries such as consumer goods, healthcare, food & beverage, personal care, construction, life sciences, paints & coatings, and paper. As of April 2019, the company had 109 manufacturing facilities in countries including the U.S., India, Thailand, and South Africa and catered its products to 31 countries with an employee strength of 36,500 individuals.

• SWARCO , SWARCO was established in 1969 and is headquartered in Wattens, Austria. The company. SWARCO is a traffic management and safety products manufacturing company. Its product portfolio includes glass beads, waterborne and solvent-borne paints, 2-component systems, thermoplastic systems, safety markings, indoor markings, afterglow systems, and specialty systems. These products find application in road lanes, cycle paths, construction zones, parking, airports, playgrounds, race tracks, and indoor markings. The company specializes in manufacturing and supplying retroreflective road marking systems. It has a presence in 25 countries across regions such as North America, Central America, Europe, and Asia Pacific, and over 3,800 traffic experts working to date.

• The Sherwin-Williams Company , The Sherwin-Williams Company manufactures and distributes paints, stains, and coatings for all purposes. The company was formed in 1866 and is established in Cleveland, Ohio, U.S. It has categorized its business into five segments, namely protective & marine coatings; paints, stains, colors & supplies; product finishes; automotive & transportation finishes; and aerospace finishes. Protective & marine coatings include acrylic, aggregates, alkyd, floor coatings, epoxy, fire protection, marine & specialty coatings, heat resistant, pavement marking, polyurethane, and tank linings. It caters to the needs of various end-use industries such as construction, food & beverage, healthcare, marine, mining, oil & gas, utility & energy, pulp & paper, and industrial manufacturing. Pavement markings are manufactured using latex, acrylic copolymers, alkyd, and chlorinated rubber for traffic road marking coatings.The company has operations across North & South America, Europe, Asia-Pacific, and Africa. As of 2020, it had 61,031 employees.

• Geveko Markings , Geveko Markings was established in 1924 and is headquartered in Rudkøbing, Denmark. The company is into the business of manufacturing horizontal signage, decorative markings, road marking coatings, and line marking coatings. In addition, it manufactures general products such as road sensor reflectometer, infrared thermometer, gas burners, and primers. The company's product portfolio includes thermoplastic & performed thermoplastic markings, cold plastic road markings, waterborne road marking paints, solvent-borne road marking paints, decorative & colorful markings, tactile markings, surface detect repair systems, indoor marking paints, and antiskid materials. It caters to the needs of indoor and outdoor applications such as roads, pathways, parking spaces, and airports for safety and decorative purposes. It has production sites in 11 countries across the globe to cater to the requirements of its customers.

• Ennis Flint, Inc. , Ennis Flint, Inc. was formed in 2012 after the merger between Ennis Traffic Safety Solutions and Flint Trading, Inc. It is headquartered in Greensboro, North Carolina, U.S. and is engaged in the business of providing pavement markings and traffic safety solutions. The company has segmented its products into regulatory pavement markings, decorative pavement markings, and markings for airports & military. Its product portfolio includes marking paints, thermoplastic & performed thermoplastic markings, pavement markers, retro reflectometers, integrated multipolymer, and decorative pavement markings. These marking coatings find application in crosswalks, medians, islands, roundabouts, entryways, logos, taxiways, ramps, aprons, gates, and airfield vehicle roadways. The company has over 25 manufacturing/distribution facilities globally and 9 technical service facilities in North America. Technical services include training, demos & test desks, and assistance with equipment calibration among others.

• Crown Technology, LLC , Crown Technology, LLC is headquartered in Woodbury, Georgia, U.S. It manufactures superior pavement marking products and systems. The company started to manufacture thermoplastics in 1994, and in 1996, it shifted its headquarters from Columbus, Georgia, to Woodbury, Georgia. The company classified its product portfolio into hot applied thermoplastics, performed thermoplastics, intersection grade thermoplastics, audible vibratory systems, and reflective pavement markers.

• K.M. Contractors Pvt. Ltd. , IEW K.M. Contractors Pvt. Ltd. is headquartered in New Delhi, India. It offers contracting services for infrastructure companies in the domain of thermoplastic road marking paint, road furniture & road signages, and bituminous mastic asphalt. Thermoplastic road marking paints are used in traffic marking and road safety applications. Other services the company provides include fixing of delineators, road studs, and bollards for road safety. Some key clients include AFCONS, VALECHA Eng., CONTINENTAL Eng., and NAVAYUG Eng.

• Automark Technologies (India) Pvt. Ltd. , Automark Technologies (India) Pvt. Ltd. was established in 2002 and is headquartered in Nagpur, India. It is involved in manufacturing pavement marking and road striping and marking products. The company started manufacturing thermoplastic materials in 2004 with a production capacity of 5 metric kilotons per day and as of 2019, it produces about 150 metric kilotons a day and 30,000 metric kilotons per annum. Its product portfolio includes curb paints, thermoplastic road marking paints/materials, concrete primer for thermoplastic paints, and machinery for thermoplastic road markings and road/airstrip. The company exports its products to countries such as Hong Kong, Kenya, Botswana, Israel, Cyprus, Ireland, Guyana, Nepal, Uganda, Tanzania, Sri Lanka, Palestine, Ghana, Qatar, Bahrain, and Bangladesh. It caters to various applications such as road markings, airfield markings, kerb markings, markings on old bitumen and concrete surfaces, and others. The company has two subsidiaries, namely Automark Technologies Tanzania Limited and Automark Kenya Limited.

• Asian Paints PPG Pvt. Ltd. , Asian Paints PPG Pvt. Ltd. is a joint venture between PPG Industries, U.S., and Asian Paints Ltd., India. The company is headquartered in Mumbai, India. It manufactures coatings and specializes in producing floor, protective, road marking, and powder coatings. Protective coating products are sold under multiple brands including Asian Paints and Sigma, whereas, powder coatings are sold under Hawcoplast and Apcoshield brands. Floor coatings are offered under Apcoflor brand and road marking services are provided under Apcotrak, Apcomark, and Thermoline brands. Road marking coatings provide warning signals and traffic information to travelers. The company's road marking coatings are classified into acrylic retro-reflective waterborne paints, type 2 retro-reflective drop-on glass beads, hot-applied retroreflective thermoplastic material, and conventional water/solvent-based road marking paints, which are available in white, black, and golden yellow colors. Road marking coatings have applications in highways and taxiways at airports. The company has powder coating manufacturing facilities in Himachal Pradesh and Gujarat, India

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Traffic Road Marking Coatings Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2021, historic information from 2019 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Traffic Road Marking Coatings Market Report Assumptions:

• The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.