The global traffic road marking coating market size was valued at USD 4,012 million in 2017 and is anticipated to grow at a CAGR of 6.2% during the forecast period. Traffic road marking coatings are materials used for marking roads and curbs for efficient flow of traffic, and enhanced public safety. Traffic road markings control, guide, and provide warnings and information to road users. Traffic road marking coatings are used for various applications such as highway road markings, edge line markings, zebra crossing markings, center line markings, and car park structures among others. A variety of materials are used for road markings such as paints, thermoplastic, and epoxy among others.
The major driving factors of the market include significant increase in traffic congestion, and increasing incidences of road accidents. The increasing need to manage flow of traffic, and improve road infrastructure, especially in the developing regions, supports the growth of the traffic road marking coating market. The growth in investment by governments for development of safer roads also boosts the market growth. Other factors driving the growth of this market include increasing road construction, and maintenance of existing road infrastructure. Expansion of established companies into emerging economies and increasing adoption of organic and environment friendly road marking materials would provide numerous growth opportunities in the market.
The global Traffic Road Marking Coating market is segmented on the basis of product type, and geography. Based on the type of product, the market is segmented into thermoplastic, paint, preformed polymer tape, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Europe accounted for the largest share in the global Traffic Road Marking Coating Market in 2017.
The vendors in the market are launching new products to meet the growing customer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. 3M, a major player in the market offers a wide range of traffic road marking materials for different applications. It offers a range of marking solutions for guiding drivers during day and night in varied weather conditions. The company’s product range includes thermoplastic, polyurea, high-build paint, pre-formed patterned tapes, and skid resistant material among others. Geveko Markings, another leading market vendor, offers a varied line of traffic road marking products such as preformed thermoplastic, thermoplastic road markings, cold plastic road marking, water borne road marking paint, and decorative and colorful markings. Asian Paints PPG offers a variety of road markings, which includes applied retroreflective thermoplastic material, fast drying highly durable 100% acrylic retro-reflective water borne paints and conventional water or solvent based road marking paints. Other leading players in the market include Vertex Group, Geveko Markings, Dow Chemical Company, Asian Paints PPG Pvt. Ltd., Lanino Road Marking Products, Kataline Infraproducts Pvt. Ltd., Ozark Materials, LLC, Kestrel Thermoplastics Ltd., Crown Technology LLC, and WJ Products Ltd among others.