Press release
Thermoplastic marking paint Market Investment Opportunities: Identifying Lucrative Areas for Capital Deployment by 2031
The global thermoplastic marking paint market reached a value of USD 2,171.7 million in 2021 and is expected to reach USD 2,854.4 million by 2027, with a CAGR of 4.39% during the forecast period. The market volume in 2021 was estimated at 4,028 thousand tons, projected to grow at a CAGR of 3.83% over the anticipated period. Thermoplastic marking paint is widely used for generating rumble strips and provides durability, resistance, and retro-reflectivity, making it an ideal choice for road marking applications. The market is driven by the increasing demand for parking space markers and the focus of global regulatory organizations on road safety.
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Growth Influencers:
1. Increasing number of airport and road construction activities:
The market is witnessing growth due to the rising number of airport and road construction activities worldwide. Intelligent street marking systems and devices that record driver speed, driving conditions, and temperature are gaining traction. Thermoplastic marking paint, known for its durability and retro-reflectivity, is preferred for marking parking spaces, loading zones, and travel lanes. The market is benefiting from the demand generated by these construction activities.
2. Technological advancements and product innovations:
Manufacturers in the thermoplastic marking paint market are focusing on technological advancements and product innovations. For example, temperature-sensitive paints that can endure harsh weather conditions are being developed. These advancements enhance the performance and durability of thermoplastic marking paints, driving their adoption in various applications.
Segments Overview:
The global thermoplastic marking paint market is segmented based on type and application.
By Type:
- Polyurethane Base Material
- Epoxy Base Material
- Chlorinated Rubber Base Material
- Others
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The polyurethane base material segment is expected to offer an opportunity of more than USD 438.7 million between 2021 and 2027. The epoxy base material segment is projected to grow at the highest CAGR of 8.76% during the forecast period, driven by its affordability and dependability.
By Application:
- Roads & Streets
- Parking Lots
- Airport
- Others
The road and streets segment is anticipated to exceed USD 1,690.0 million in revenue by 2025. The increased utilization of road marking lines for traffic guidance and safety is driving the demand for thermoplastic marking paint. The airport segment is expected to grow at the highest CAGR of 5.19% during 2022-2027.
Regional Overview:
The global thermoplastic marking paint market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The Asia Pacific market held the largest market share of over 35% in 2020, with a revenue of USD 1,349.1 million. The region is expected to be the fastest-growing market with a CAGR of over 5.12% during the forecast period, driven by infrastructure development and increasing road safety measures.
Competitive Landscape:
Prominent players in the global thermoplastic marking paint market include 3M, Nippon Paint, Geveko Markings, Sherwin-Williams, Swarco AG, SealMaster PPG Industries, Asian Paints PPG, Ennis Flint, Hempel, and others. These players are actively involved in collaborations, product launches, and strategic initiatives to strengthen their market presence. For example, Hempel A/S acquired Wattyl, a paint manufacturer, in February 2021, to expand its product portfolio and market reach.
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The global thermoplastic marking paint market report provides comprehensive insights into market penetration, market development, market diversification, competitive landscape assessment, product development and innovation, pricing analysis, and manufacturing cost analysis
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