The global traffic road marking coating market size was valued at USD 4.63 billion in 2020 and is expected to grow at a CAGR of 6.2% during the forecast period. Traffic lane coatings are materials used for marking roads and curbs for the efficient flow of traffic and enhance public safety.
Road indicating control, guide, and provide warnings and information to motorway users. Traffic road marking coatings are used for various applications such as highway lane markings, edge line-markings, zebra crossing painting, centerline painting, and car park structures among others. A variety of materials are used for lane coloring such as paints, thermoplastic, and epoxy among others.
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The major driving factors of the industry include a significant increase in vehicle congestion and increasing incidences of street accidents. The increasing need to manage flow of traffic, and improve the road infrastructure, especially in the developing regions, supports the growth of the traffic road marking coating market. The growth in investment by governments for the development of safer streets also boosts the coating market growth.
Other factors driving the growth of this market include increasing motorway construction and maintenance of existing highway infrastructure. Expansion of established companies into emerging economies and increasing adoption of organic and environment-friendly motorway painting materials would provide numerous growth opportunities in the coating 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 industry is segmented into thermoplastic, paint, preformed polymer tape, and others. This report comprises a detailed geographic distribution of the coating industry across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, the UK, Italy, France, and the Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and the Rest of Asia Pacific. Europe accounted for the largest share in the global traffic road marking coating market in 2020.
The vendors in the industry 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 industry and expand their customer base.
3M, a major player in the industry offers a wide range of traffic street painting materials for different applications. It offers a range of marking solutions for guiding drivers 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 industry vendor, offers a varied line of traffic highway painting products such as preformed thermoplastic, thermoplastic street marks, cold plastic street marks, waterborne street indicating paint, and decorative and colorful marks.
Asian Paints PPG offers a variety of motorway indicators, which includes applied retroreflective thermoplastic material, fast drying highly durable 100% acrylic retro-reflective waterborne paints, and conventional water or solvent-based road indicating paints.
Other leading players in the industry include Vertex Group, 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.