Global Road Marking Paints & Coatings Market Introduction
Road marking paints & coatings are used for marking road area, speed breakers, dividers, parking areas, and turning signs amongst others. Road marking plays a crucial role in maintaining road safety and traffic control. This activity is enabled by the application of Road Marking Paints & Coatings by the road marking job companies. Road marking paints & coatings needs to be durable and strongly visible, therefore, abrasion resistant and strong weathering proof paints & and coatings are used for marking the road. Road marking paints are coatings use optical brighteners or fluorescent pigments for providing brightening and fluorescent effect to the road markings. Road marking paints & coatings are generally polymer based and ceramic based coatings including, acrylic, epoxy glass, and other materials. Road marking paints and coatings can be classified into water based, solvent based and other thermoplastic coatings. Glass beads are also used in the road marking purposes. Applications of road marking paints & coatings includes, highways, local roads, parking areas, landing markings, cross roads, and intersections on the roads. The service industry of applying these coatings contributes a significant share in the value chain of the road marking paints & coatings market.
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Market Dynamics of Road Marking Paints & Coatings Market
Upsurge in infrastructure development in the emerging economies such as India, China, and Mexico, has been observed in the last few years. Increasing road safety concerns, all over the globe is pushing the road marking paints & coatings. Additionally, increasing awareness about the road safety and use of road marking paints & coatings is expected to drive the demand for road marking paints & coatings, during the forecast period. Increasing population in the countries such as India and china and rise in per capita income of the populations in pushing the need for more roads. Moreover, increasing utilization of the existing roads is accelerating the frequency of road marking, in the densely populated countries. This is also driving the growth of the road marking paints & coatings market.
Stringent regulations on the VOC content of the road marking paints & coatings, in the developed economies is expected to be challenging factor for the potential growth of the market
Various types of solvent based paints and coatings used in road marking. Solvent based paints & coatings are facing challenges for complying with the norms of VOC contents in these paints & coatings. The potential growth in the demand for road marking paints & coatings, can be impacted due to the stringent regulations on VOC contents of the paints & coatings. Developed regions such as North America and Europe, have more stringent laws for the VOC content, therefore, these regions are expected slow growth compared to other regions such as Asia Pacific and MEA.
Road marking paints & coatings market trends: Innovation and new product developments
Improvement in the visibility and durability of the road marking paints & coatings, is at the center of focus by the manufacturers and formulators. High performance materials are being used in road marking paints & coatings. Continuous research and development in the field of paints & coatings is bolstering the new product developments in this market. Increasing demand for durable and highly visible paints & coating for road marking applications is expected to boost the growth of the global road marking paints & coatings market.
Global road marking paints & coatings market segmentation
On the basis of material type, the global road marking paints & coatings market can be segmented as:
On the basis of Solvent, the global road marking paints & coatings market can be segmented as:
Organic Solvent Based
On the basis of Applications, the global road marking paints & coatings market can be segmented as:
Others (Kerb Stones, Centre Line, Speed Humps, Edge Line)
Road marking paints & coatings Market: Regional Outlook
Large population and increasing infrastructure developments in India, China and other emerging countries in the world, is driving the global road marking paints & coatings market. Asia Pacific region led the global road marking paints & coatings market. China and India are the fast growing countries in the global road marking paints & coatings market. Increasing demand from developing and emerging markets is boosting the demand for road marking paints & coatings. Growing population and increasing demand for high performance paints coatings, all over the world, is putting pressure on the manufacturers to meet the demand, which is pushing new developments in the road marking paints & coatings market. Asia Pacific witnessed high growth in last few years. North America and Europe followed Asia Pacific in terms of demand for road marking paints and coatings, however road marking paints & coatings market in Europe and North America is expected to grow at a slower growth compared to Asia pacific. Latin America also contributed a significant share in the global road marking paints & coatings market. Middle East and Africa is also creating lots of opportunities for road marking paints & coatings market players as the textile processing market is growing at a significant growth rate, in the region.
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Global Road marking paints & coatings Market Participants
Some of the market participants identified across the value chain of global road marking paints & coatings market are:
The Sherwin-Williams Company
JotunCrown Technology, LLC
US Specialy Coatings
Rembrandtin Lack GmbH Nfg. Kg