Traffic Road Marking Coatings Market To Reach $8.33 Billion By 2030

Traffic Road Marking Coatings Market Growth & Trends

The global traffic road marking coatings market size is expected to reach USD 8.33 billion by 2030, registering a CAGR of 6.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Technological advancement is an important factor in the market growth as countries are becoming more concerned about public health and safety. Growing environmental concerns are driving the need for greener products in a bid to promote a healthy environment.

The market witnessed slight growth in 2020, despite the outbreak of the COVID-19 pandemic. The reduced traffics due to the restrictions on transportation/traveling and other vital economic activity benefitted several road maintenances, bridge & road construction, and building projects. Apart from road building, the restrictions on air travel and flight reductions provided a chance to evaluate runway construction windows.

Paints are regarded as a major source of harmful VOC emissions. This has resulted in the development of thermoplastic coatings and other eco-friendly alternatives. Rising cases of road fatalities are another primary concern, which is forcing regional governments to invest in technological development to ensure highway safety and maintenance. There is a need for technological development to deal with such issues efficiently and improve the global economic condition as well. In June 2021, Hempel A/S acquired a game-changing technology that is expected to transform the insulating coatings business while enhancing employee safety and decreasing customers' environmental footprint, allowing the company to produce and sell new coating products.

Manufacturers are taking initiatives to develop innovative marking systems and temperature-sensitive paints, which, in turn, is boosting the market growth. Various initiatives to improve road safety and maintenance and prevent accidents are expected to influence the overall market positively.

Furthermore, favorable regulations established by agencies such as the Environmental Protection Agency (EPA), The 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 help boost the market growth.

The overall growth rate of the market depends upon the high potential regions, such as the Asia Pacific and the Middle East & Africa, where the industrial output is expected to grow during the forecast period. Due to a considerable rise in consumerism, which is driven by economic growth, a favorable credit landscape, and increased disposable income, various countries, particularly in the Asia Pacific such as India and China, have witnessed an exponential rise in manufacturing activities. This factor has impacted the logistics activities in the aforementioned regions, thereby boosting the demand for safer roads.

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Traffic Road Marking Coatings Market Report Highlights

• Thermoplastic coatings emerged as the fastest-growing product segment in terms of revenue during the forecast period

• Road marking lines emerged as the largest application segment with a market share of 55.1% in terms of revenue in 2023.

• The Asia Pacific is estimated to witness the highest growth during the forecast period on account of a rise in infrastructure spending in emerging economies, such as India, China, and Japan.

Traffic Road Marking Coatings Market Segmentation

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

Traffic Road Marking Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Paint

• Thermoplastic

• Performed Polymer Tape

• Epoxy

Traffic Road Marking Coatings Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Permanent

• Removable

Traffic Road Marking Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Road Marking Lines

• Road Marking Labels

Traffic Road Marking Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • U.K.

  • Russia

  • Italy

• Asia Pacific

  • China

  • Japan

  • Australia

  • India

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List Of Key Players Traffic Road Marking Coatings Market

• AutoMark Technologies (India) Pvt. Ltd.

• The Sherwin-Williams Company

• Geveko Markings

• Ennis Flint, Inc.

• Crown Techno

• Dow Inc.

• The 3M Company

• Swarco