Traffic Road Marking Coatings Market Growth Driven by New Road Constructions | Technavio

The latest market research report by Technavio on the global traffic road marking coatings market predicts a CAGR of more than 5% during the period 2017-2021.

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Technavio has published a new market research report on the global traffic road marking coatings mar ...

Technavio has published a new market research report on the global traffic road marking coatings market from 2017-2021. (Graphic: Business Wire)

The report segments the global traffic road marking coatings market by product (paint, thermoplastic, preformed polymer tape, and epoxy) and by geography (APAC, Europe, North America, and ROW). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global traffic road marking coatings market, according to Technavio chemicals and materials researchers:

  • Increasing new road construction: a major market driver
  • In 2016, the global traffic road marking coatings market by paints accounted for a share of around 45%
  • In 2016, APAC dominated the global traffic road marking coatings market, accounting for a share of around 38%
  • 3M, Medtronic, Geveko Markings, LANINO, The Dow Chemical Company and The Sherwin-Williams Company are the leading players in the market

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Increasing new road construction: a major market driver

Increasing new road construction is one of the major factors driving the global traffic road marking coatings market. The construction of new roads across the globe is driving the demand for traffic road marking coatings, thereby impacting the global traffic road marking coatings market positively. Road construction has increased significantly in several countries in APAC. This is fueling the traffic road marking coatings market in APAC as well as across the globe. Road and transportation are one of the most important contributors to the economic development and growth of a country. Being one of the most crucial public assets, the need for constant maintenance of roads has increased, which is further driving the global traffic road marking coatings market.

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Global traffic road marking coatings market by paint: largest product segment

Most of the paints and coatings contain solvents, resins, fillers, and additives. The solvent or the resin are referred to as vehicle and comprise the total liquid content (including the binder) of the paint. The pigment is dispersed in it. Once the coating is applied, the solvent portion of the vehicle evaporates and parallelly the paint cures. Acrylic resins are used as rheology modifiers in paints and coatings. The rheology modification plays a major role in enhancing the efficiency and effectiveness of a coating on a substrate.

According to Ajay Adikhari, a lead analyst at Technavio for research on paints, coatings, and pigments, “The global traffic road marking coatings market by paint is expected to dominate the global market. One of the major advantages of paint is that it dries quickly. Drying time plays an essential role in reducing traffic interruptions. Paint-based traffic road marking coatings are available in several colors. These colors indicate different functions of the paint. Paints are used in roads, intersections and crosswalks, highways, landing strips, and parking lots.”

Competitive vendor landscape

The global traffic road marking coatings market is dominated by five prominent vendors such as 3M, Geveko Markings, LATINO, the Dow Chemical, and the Sherwin-Williams. These players have a wide geographical presence. But, several local and regional vendors with considerable market shares also operate in this market. The vendors compete based on operational cost, innovation, product price, and quality. Some vendors are stronger in terms of finance and technology than their competitors. Such players can easily withstand the changes in market conditions and occupy leading positions.

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