Canada Traffic Road Marking Coatings Market Size & Outlook
Canada traffic road marking coatings market, 2018-2030 (US$M)
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Canada traffic road marking coatings market highlights
- The Canada traffic road marking coatings market generated a revenue of USD 159.4 million in 2023 and is expected to reach USD 217.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, paint was the largest revenue generating product in 2023.
- Thermoplastic is the most lucrative product segment registering the fastest growth during the forecast period.
Traffic road marking coatings market data book summary
| Market revenue in 2023 | USD 159.4 million |
| Market revenue in 2030 | USD 217.0 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Paint |
| Fastest growing segment | Thermoplastic |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Paint, Thermoplastic, Preformed Polymer Tape, Epoxy |
| Key market players worldwide | Sherwin-Williams Co, Ennis Inc, Dow Inc, 3M Co, SWARCO |
Other key industry trends
- In terms of revenue, Canada accounted for 2.9% of the global traffic road marking coatings market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. traffic road marking coatings market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 1,521.1 million by 2030.
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Traffic Road Marking Coatings Market Scope
Traffic Road Marking Coatings Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada traffic road marking coatings market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to traffic road marking coatings market will help companies and investors design strategic landscapes.
Paint was the largest segment with a revenue share of 45.29% in 2023. Horizon Databook has segmented the Canada traffic road marking coatings market based on paint, thermoplastic, preformed polymer tape, epoxy covering the revenue growth of each sub-segment from 2018 to 2030.
The road network in Canada, which spanned over the world’s sixth-biggest network. In Canada, the regulations and applications of traffic road marking coatings are governed through Ministry of Transportation and Highways in British Columbia and Transportation Association of Canada (TAC) - Manual of Uniform Traffic Control Devices.
Under the Minister des Transports du Quebec (MTQ) road network jurisdiction, approximately 90,000 km of road markings are essential to be maintained and painted to ensure continued visibility of road markings. MTQ conducts an annual repainting program, which requires vast quantities of paint materials, including 2.8 million kg of glass microbeads and 3.8 million liters of paint, for enhanced nighttime visibility of the road markings.
MTQ was the first government agency in Canada to abolish the use of products containing lead chromates. Utilization of alkyd-based paint in such a large quantity has resulted in the dispersal of VOC equivalent to nearly 1.5 million kilograms into the environment.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada traffic road marking coatings market , including forecasts for subscribers. This country databook contains high-level insights into Canada traffic road marking coatings market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada traffic road marking coatings market size, by product, 2018-2030 (US$M)
Canada Traffic Road Marking Coatings Market Outlook Share, 2023 & 2030 (US$M)
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