In terms of revenue, the marking coatings market is anticipated to bring in US$ 177.70 billion by 2022. By 2032, the market is projected to reach US$ 238.81 billion, growing at a CAGR of 3%.
The creation of temperature-sensitive paints that can endure harsh weather conditions like snowfall and torrential rain is a goal of manufacturers. A catalyst and a coloured resin base make up this kind of marking coating. This type of road marking paint is chosen over plastic because it is inexpensive and has excellent reliability characteristics. These marking coatings are also considered anti-slip traffic paints, which are perfect for highways.
Manufacturers of the marking coatings market are moving closer to new manufacturing units to increase their production because these paints are in high demand as they last longer than ordinary paints.
With these additional facilities, the niche market items of the companies will be able to manufacture more readymade thermoplastic road marking paint, such as marking spray paint. Industrial aerosol paint producers provide extremely tough marking coatings that give defence against corrosion, abrasion, and rust. The application of industrial aerosol paint necessitates a degree of technical expertise beyond that of conventional marking spray paint.
For large-area markings like green bike lanes, several major companies have even introduced paints using pioneering technology. These coatings combine the durability and reliability of a two-component solution with the convenience of application and sprayability of a waterborne solution. These kinds of product advancements are being introduced to give the economy's residents secure options for multimodal mobility.
To create superior road marking paint materials, several major global businesses in the marking coatings market are even working together. For instance, in March 2021, Toyota Motor Corporation and Nippon Paint Holdings Co., Ltd. joined forces to create decorative coatings for solar modules that increase design freedom and give colour to the surface of solar modules. This change aided the business in growing both its clients and profits.
As the global trend toward sustainability picks up momentum, producers and researchers of marking coatings are concentrating their efforts on creating road markings comprised of ecologically benign materials.
To ascertain the potential of utilizing biopolymers in thermoplastic road marking coating paint, even specific firms are engaging with subject matter specialists. Some of these businesses even have a line of high-performance, solvent-based and low-VOC traffic paint.
In order to expand their market share, a few suppliers and industry participants in the global market for traffic road marking coatings are forming joint ventures, mergers, acquisitions, and other strategic alliances with other similar organizations.
For instance, in March 2021, Roadside Traffic Systems, one of the leading suppliers of traffic management and movement marking services, obtained Innovative Marking Systems, a Bluffdale-based producer of epoxy pavement, waterborne paint, and roadway striping and removal services.
The architectural coating Palisade Ultra-Premium Exterior Acrylic Latex Finish, which is intended for use by both professional painters and homeowners, was even launched by certain international producers. Some of them even introduced new online stores where clients could buy tractor restoration products and other industrial coatings straight from the organizations.
Attributes
Details
Marking Coatings Market CAGR
3%
Marking Coatings Market (2022)
US$ 177.70 Billion
Marking Coatings Market (2032)
US$ 238.81 Billion
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Marking Coatings Market Overview
A coating is a covering which is applied to a substrate in order to serve decorative, functional or both purposes. Paints and coatings are formulated to suit the specific purpose they are designed to serve. Functional coatings may be applied to change the surface properties of the substrate, for instance, they can enhance adhesion, corrosion resistance or wetability.
Marking coatings are the coatings which are used to mark traffic zones on a road or to demarcate production areas from walking aisles in factories and storage areas in warehouses. Marking coatings find numerous uses in industries. One of the primary requirements of marking coatings is pigment brightness.
Titanium dioxide is a key raw material required to manufacture marking coatings. It imparts a bright white color to the coating, making it suitable for markings.
The market of marking coatings is driven primarily by the need to mark traffic zones, demarcate road shoulders, footpaths, pavements, speed breakers and zebra crossings on roads. Additionally, marking coatings are used in tarmacs to mark aircraft landing areas.
They find numerous uses in manufacturing plants and warehouses. Modern inventory control methods, dictate the use of visual monitoring to re order stocks. This is achieved by marking coatings; they are used to mark re order levels in large urns containing small volume materials such as nuts and bolts, for instance.
In manufacturing plants, marking coatings are used to mark safe walking areas for the operators and also to demarcate high radiation areas in laboratories. However, the emission of VOCs (volatile organic compounds) from coatings is a health concern and acts as a restraining factor for the market of marking coatings.
There has been research in this field to reduce the level of VOCs. Different grades of coatings with varying levels of VOCs are available commercially. Further research in this field, to eliminate VOCs from coatings, will open new areas of opportunities for marking coatings market.
The U.S, Western Europe and Japan are mature markets for the marking coatings market. In the emerging economies the coatings market is growing at a much faster rate.
In Asia Pacific, Eastern Europe and Latin America, the market of markings coatings is growing rapidly and this trend is expected to continue in the forecast period. Countries such as China, India and Indonesia are showing an upward year on year trend in the consumption of marking coatings.
Marking coatings are used in athletic fields to mark running and, cycling tracks. They are used to mark track milestones in outdoor sports. For outdoor applications, marking coatings are fortified using primers and solvents, in order to make them long lasting and resistant to harsh conditions.
Additionally, marking coatings are used in parking lots to mark parking layout for cars, they find application in retail stores too to demarcate waiting queues. There is a special variant of marking coatings available to mark tree barks and wooden logs. These markings aid in processing of wood for different purposes. Marking coatings find application in marking boundaries; they can be formulated for application on rubbers too.
The major players in this market include - Aexcel Corp, Arcon Constuction Supplies, Blastline USA Inc Diamond Vogel, Grainger, Garon Products Inc, H G Helios Group, INCL-X, Kelly Creswell Inc, NCP Coatings, Sherwin Williams, Spencer Coatings, Teknos, TherMark, U C Coatings and U S Specialty Coatings among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
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Regional analysis includes
North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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