Traffic Road Marking Coatings Market Size, Share & Trends Analysis Report By Product (Paint, Thermoplastic, Preformed Polymer Tape, Epoxy), By Region (Asia Pacific, North America, Europe, MEA), And Segment Forecasts, 2019 - 2025

Industry Insights

The global traffic road marking coatings market size was valued at USD 4.25 billion in 2018 and is projected to register a CAGR of 5.0% from 2019 to 2025. Increasing spending on infrastructure development for constructing new highways and focus on repair & maintenance operations are expected to be the key driving factors for the global market. The industry is not only associated with new road construction activities but also with existing maintenance businesses, which drives the demand for repainting.

The market has witnessed increasing investments in intelligent street marking systems and machines that help in recording the driver speed, driving conditions, and temperature while communicating it to the vehicle’s sensor system. Paint is widely used for travel lane, loading zone, and parking space markings. Thermoplastic coat, which is also known as hot melt marking, is gaining advantage owing to its properties, such as longevity and retro-reflectivity.

Preformed polymer tape is a cold-applied plastic sheet used for marking traffic lanes, crosswalks, and stop bars. Epoxy is a reliable and economical solution, which consists of a pigmented resin base and a catalyst. Such coating type is preferred over plastic material owing to its low cost and highly reliable features. Manufacturers are coming up with initiatives to develop temperature-sensitive paints, which can withstand adverse environmental conditions, such as snowfall and heavy rains.

Rising demand in the markings of public and private parking spaces is expected to boost the market growth. Regulatory bodies across the globe are continuously formulating guidelines to improve road safety. While a well-established regulatory structure is already present in developed regions, such as North America and Europe, emerging economies are still working toward enhancing the framework to ensure road safety and maintenance.

Product Insights

Thermoplastic coating is projected to emerge as the fastest-growing product segment. Road marking paints is expected to be the largest segment. Conventional paint is ideal for markings on private spaces and public streets. These paints are available in different colors, each symbolizing a different function, viz. best reflectors, areas frequented by heavy fork-lift truck, essential for temporary marks.

Thermoplastic markings are applied in a thick/built up layer to create rumble strips. This coating sets quickly and adheres firmly to the surface. Extra additives can be added to retain its color over time, thus improving its reflective capabilities. High strength and resistance make them wear-resistance.

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.

Epoxy is used for long-lasting, hygienic, and highly durable line markings; it is smooth and easy to clean, suitable for heavy-wheeled traffic, and can be applied in all weather conditions. It can bond and set on the cold and wet road surface and is a durable material that provides perfect adhesion to both asphalt and concrete pavements.

Regional Insights

The U.S. government has rolled out initiatives to enhance road infrastructure and encourage the development of durable, high-performance coating products with enhanced visibility and skid resistance. Facilitating vertical market integration by launching manufacturing units for motorway marking and traffic paints will give contractors and applicators a chance to acquire better control over cost and quality of products. This is expected to support the regional market growth over the forecast period.

Europe has emerged as the largest market while Asia Pacific is projected to witness the highest growth over the forecast period. The European Union Road Federation, as a part of its ongoing efforts, is actively researching to develop standard recommendations to reach its goal of reducing highway fatalities. Usage of high-quality building materials, training and better surveillance on contractors are a part of the proposed the 10-Point Program.

Rapid infrastructure developments in emerging economies will trigger the regional growth. Road construction in India has increased from 9 km per day in 2014 to around 22 km per day in 2016. Such enormous increase in highway building activities, coupled with maintenance activities will result in high market growth.

Traffic Road Marking Coatings Market Share Insights

Manufacturers focus on developing innovative products, such as temperature-sensitive, long-lasting, reflective paints. Key players operating in the market include Automark Technologies Sherwin-Williams Company; Geveko Markings; Ennis-Flint; Crown Technologies; Dow Chemical Company; Asian Paints; Surya Min Chem (SMC); SealMaster; The 3M Company; Swarco AG. There is a high degree of integration by Kestrel Thermoplastics Ltd. as the company supplies as well as manufactures traffic road marking coatings. Over the forecast period, a high degree of forward integration is expected by manufacturers to increase their position in the global market. A large number of contractors undertake public and private street contracts.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global traffic road marking coatings market report on the basis of product and region:

• Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • Paint

  • Thermoplastic

  • Preformed Polymer Tape

    • By Product

      • Thermoplastic Tape

      • Pressure Sensitive Tape

    • By Application

      • Road Marking Labels

      • Road Marking Lines

    • By Usage

      • Permanent

      • Removable

  • Epoxy

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia