China Traffic Road Marking Coatings Market Size & Outlook
China traffic road marking coatings market, 2018-2030 (US$M)
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China traffic road marking coatings market highlights
- The China traffic road marking coatings market generated a revenue of USD 485.4 million in 2023 and is expected to reach USD 826.7 million by 2030.
- The China market is expected to grow at a CAGR of 7.9% 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 485.4 million |
| Market revenue in 2030 | USD 826.7 million |
| Growth rate | 7.9% (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, China accounted for 8.8% 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 Asia Pacific, China traffic road marking coatings market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 826.7 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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China 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 45.3% in 2023. Horizon Databook has segmented the China 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.
China is the largest market for traffic road marking coatings in the region as road infrastructure in the country has been witnessing a rapid development since past 10 years. This trend is expected to continue in the future as China has announced the 2030 Road Master Plan, which envisages near 5.8 million kilometers of additional road network with 18,000 km of expressways and 400,000 km of highways.
The Transport Ministry of China has spent over USD 70 billion on improving the country's road infrastructure over the past few years, which is more than double the money spent by the U.S. as listed under the U.S. Department of Transportation’s budget reports for the same period. With active efforts being made to improve China's road infrastructure, the demand for traffic road markings in the country is expected to increase over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the China traffic road marking coatings market , including forecasts for subscribers. This country databook contains high-level insights into China traffic road marking coatings market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China traffic road marking coatings market size, by product, 2018-2030 (US$M)
China Traffic Road Marking Coatings Market Outlook Share, 2023 & 2030 (US$M)
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