increasing need for road safety and maintenance and rising road infrastructure spending are driving the need for the market.
The global Traffic Road Marking Coatings market is forecast to reach USD 7.00 Billion by 2027, according to a new report by Reports and Data. The primary driving forces for the global demand are projected to be an increased investment in infrastructural construction to build new highways and focus on repair and maintenance operations. The sector is concerned not only with new highway building operations but also with large repair firms, generating demand for repainting. Increasing incidences of accidents and increasing traffic congestion include major driving factors for the growth of the global market. Growing demand for traffic flow control and enhanced infrastructure is anticipated in the immediate future, especially in developing markets, to drive growth in the worldwide market.
While revenue from the demand for traffic route marking coatings is growing at a considerable pace, there are few factors expected to hamper market growth globally. Raw material shortages are a significant constraint to market growth globally. Therefore, the unavailability of resins used as a binder in cold plastics and thermoplastics labeling road content and titanium dioxide used for blanching labeling has a significant effect on both stakeholders. These stakeholders include fabricators of materials, central government agencies, contractors for marking, contractors, and agents for term maintenance, actual users, or local authorities.
The COVID-19 impact:
Declining building projects due to COVID-19 outbreak around the globe are projected to have a detrimental impact on demand development in the years ahead. The current pandemic condition has led to a declining market for automobiles, buildings, telecommunications, and white goods paints and coatings. For the industry, the path to recovery of growth depends heavily on the duration of the restrictions imposed and their influence on global economic activity. Contrary to the industry trend generally, specific consumer sectors, such as antimicrobial coatings, would see an increase in demand in the healthcare and food sectors.
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Top Companies: Dow Chemical Company, 3M, The Sherwin Williams Company, Swarco AG, Geveko Markings, Ennis-Flint Inc., Crown Technology, LLC, M. Contractors Pvt. Ltd., Surya Min Chem (SMC), and Lanino Road Marking Products, among others.
Further Key Finding from the Report Suggestion:
Thermoplastic coatings are expected to emerge as the fastest-growing segment of the industry over the projected period as regards sales. This rise is due to its properties, such as durability and retro-reflectivity
The industry value of paint-based road traffic labeling coatings is expected to see substantial growth by the end of 2027. The product is widely used for marking traffic roads because of its excellent adhesion and waterproof characteristics. Increasing spending on infrastructure construction to fix and build new highways would stimulate demand for the product, which in turn will boost growth in the industry.
The Asia Pacific region is expected to account for a large share of sales in the global demand for coatings owing to the organic growth of road networks and the maintenance activities of existing ways. The adoption rate of the product in the Asia Pacific is expected to rise at the fastest pace in the industry.
Manufacturers differentiate their goods based on quality and price, taking into account such factors as consistency and purity level. Insufficient supply than its demand is prone to higher commodity prices over the forecast period.
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Product Outlook (Revenue, USD Billion; 2017-2027)
Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Road Marking Line
- Road Marking Labels
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Traffic Road Marking Coatings market report:
- What is the expected market size of the global Traffic Road Marking Coatings market during the forecast period?
- What factors are expected to hamper global Traffic Road Marking Coatings market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Traffic Road Marking Coatings market?
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