Traffic Road Marking Coatings Market Growth Sustained.

The global traffic road marking coatings market is anticipated to witness a CAGR of 6% attributing to the technological advancements and growing concern for public health and safety. Additionally, environmental concerns are likely to impel the need for green products as a supportive measure to promote sustainable development.

Without any markings, the traffic flow is likely to collapse and hence the road markings have an important role to help the traffic follow lane driving and keep the pedestrians out of the traffic. Usually, white and yellow paint markings ensure the traffic is flowing in the desired direction and keeping the road fatalities to minimal. As a part of highway safety and maintenance proper color codes for dense traffic conditions. Therefore, paint manufacturers are now taking robust initiatives to develop products that feature in high resistance against harsh weather and temperature. This is likely to produce favorable outcomes at reducing road fatalities.

Furthermore, favorable regulations established by agencies such as the Environmental Protection Agency (EPA), Traffic Signs Regulations and General Directions (TSRGD) 2002 by the Department for Transport (DT), and initiatives by the European Union to make roads safer are expected to boost the market growth.

In terms of geography, Asia Pacific is the leading market for road marking coatings wherein industrial output is anticipated to rise in the coming years. Increase in disposable income, economical growth and growing competition among manufacturers are likely to contribute toward the growth of markets in Asia Pacific.

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Traffic Road Marking Coating Market Report Highlights

• Thermoplastic coatings is expected to emerge as the fastest-growing product segment in terms of revenue over the forecast period. This growth is attributed to its properties such as longevity and retro-reflectivity
• In terms of volume, paint dominated the market in 2019 with a share of 44.9% owing to its wide application for crosswalks, airport runways, and highways
• Asia Pacific is estimated to witness the highest growth rate over the forecast period on account of rise in infrastructure spending in emerging economies such as India, China, and Japan

Grand View Research has segmented the global traffic road marking coatings market on the basis of product, type, application, and region:

Traffic Road Marking Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• Paint
• Thermoplastic
• Preformed Polymer Tape
• Epoxy

Traffic Road Marking Coatings Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• Permanent
• Removable

Traffic Road Marking Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• Road Marking Lines
• Road Marking Labels

List of Key Players in Traffic Road Marking Coatings Market:

• BASF SE
• Sherwin-Williams Company,
• Borealis AG,
• SealMaster,
• Armacell International S.A.,
• and Recticel Group.