A recent report published by Infinium Global Research on the traffic road marking coatings market provides an in-depth analysis of segments and sub-segments in the global as well as regional traffic road marking coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional traffic road marking coatings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global traffic road marking coatings market. According to the report, the global traffic road marking coatings market is projected to grow at a CAGR of nearly 6% over the forecast period of 2022-2028.
The global traffic road marking coatings market was valued at about USD 5.5 Billion in 2022 and is expected to reach over USD 7 Billion in 2028, with a CAGR of nearly 6% during the forecast period. With the introduction of high-performing road pavement markings with wet reflectivity, durability, and high contrast to increase road safety, the global traffic road marking coatings market is predicted to experience considerable growth over the projected period. Additionally, the significant investment interest in constructing sustainable infrastructure in developing nations will provide the market with more momentum in the near future. Road markings are lines, signs, or phrases painted on the road to regulate and direct traffic on local roads and national highways. Increasing utilization of the marking to effectively direct pedestrians is majorly driving the growth of the market. The marking is made on the road to indicate the delineation of traffic channels and it also acts as a psychological barrier that helps to run the traffic smoothly.
The rising awareness of traffic safety, and road safety products like navigation signs, road markings, and others are expected to enhance the adoption and demand of traffic road marking during the forecast period. Road safety measures include raising awareness through signals, sign boards, and key messages, requiring adherence to traffic laws, and other techniques including hosting awareness camps. The method that is most frequently utilized, mostly for preventing traffic accidents and mishaps, is signboards. Since roads are the most popular form of transportation, users like bicycles, pedestrians, and drivers of motor vehicles are at risk for collisions. The need for traffic road marking coatings has greatly increased as a result of measures like sidewalks, safe crossing locations, bike lanes, rumble strips, and other traffic calming measures. To ensure safe driving habits, sturdy and safe road constructions are crucial. The rising government spending on creating better roads that are perfect for vulnerable road users and other factors will create growth opportunities for market growth. However, stringent government regulation regarding VOC emissions will hamper market growth.
Due to the growing use of road marking materials in China, the Asia-Pacific region dominates the global traffic market for road marking coatings. Due to the rising demand for road marking goods in infrastructure projects, the Asia-Pacific region is anticipated to grow at the fastest rate during the forecast period of 2021 to 2028. Due to the simplicity of manufacture and installation of products for road marking coatings made from high-quality raw materials, China is now leading the growth of the Asia-Pacific market. The U.S. is the market leader in North America as a result of increased demand for intelligent street marking systems and equipment in the region, whereas Germany is the market leader in Europe as a result of rising government spending on regional road infrastructure.
The report on the global traffic road marking coatings market covers segments such as product, type, and application. On the basis of product, the sub-markets include paint, thermoplastic, preformed polymer tape, and epoxy. On the basis of type, the sub-markets include permanent, and removable. On the basis of application, the sub-markets include road marking lines, and road marking labels.
The report provides profiles of the companies in the market such as AutoMark Technologies (India) Pvt. Ltd., The Sherwin-Williams Company, Geveko Markings, Ennis Flint, Inc., Dow Inc, The 3M Company, Swarco, Jotun, TEKNOS Group, and zigmapaints.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the traffic road marking coatings market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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