Global Research on Traffic Road Marking Coating Market Size Revenue to Hit USD 7.26 Billion by 2028 | CAGR: 6.2%
The rapid increase in traffic congestion across the globe majorly drives the growth of this industry. Growing concerns regarding highway safety coupled with the increasing need to efficiently control and manage motorway traffic support the industry growth. A significant increase in the number of motorway accidents has been registered, which encourages governments to improve the motorway infrastructure.
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There has been an increasing construction of highways, especially in the developing regions of Asia-Pacific and Latin America, which further augments the growth of this industry. The introduction of organic motorway painting coatings along with increasing awareness regarding the use of environment-friendly marking materials would provide growth opportunities for the traffic road marking coating market in the coming years.
Asia-pacific is expected to grow at the highest CAGR during the forecast period. There has been increasing in the construction of motorways in the developing countries of Asia-Pacific. The increasing need to improve infrastructure is increasing the demand for traffic road marks coating in the region. Governments in the region are increasingly investing in the development of motorway infrastructure, augmenting industry growth.
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Growing concerns regarding highway accidents and the rising need to control them further promote the growth of this industry. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.
The various types of traffic road marking coatings include thermoplastic, paint, preformed polymer tape, and others. The paint segment is expected to lead the industry during the forecast period owing to its increasing demand from the developing regions. The use of paint is generally preferred owing to its easy availability and ability to dry at a faster rate. Thermoplastic is expected to grow at the highest CAGR during the forecast period.
The well-known companies profiled in the report include Vertex Group, Geveko Markings, 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. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Polaris Market Research has segmented the traffic road marking coating market report based on product and region:
Traffic Road Marking Coating, Product Outlook (Revenue - USD Billion, 2016 - 2028)
• Preformed Polymer Tape
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