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Road Marking Paints & Coatings Market

Market Insights on Road Marking Paints & Coatings covering sales outlook, demand forecast & up-to-date key trends

Road Marking Paints & Coatings Market by Material Type, Solvent, Application & Region - Forecast 2022 - 2032

Road Marking Paints & Coatings Market

The global road marking paints & coatings market size is set to exhibit considerable growth at a CAGR of 3.5% in the forecast period in 2022 to 2032. Rising awareness among people regarding road safety is projected to boost the road marking paints & coatings market. As per FMI, demand for road marking paints & coatings is likely to reach US$ 11.6 Billion in 2032 and US$ 8.1 Billion in 2022.

Report Attribute

Details

Road Marking Paints & Coatings Market Estimated Base Year Value (2021)

US$ 7.2 Billion

Road Marking Paints & Coatings Market Expected Market Value (2022)

US$ 8.1 Billion

Road Marking Paints & Coatings Market Anticipated Forecast Value (2032)

US$ 11.6 Billion

Road Marking Paints & Coatings Market Projected Growth Rate (2022-2032)

3.5% CAGR

Road marking paints & coatings are extensively used for marking turning signs, road areas, parking spaces, dividers, and speed breakers. These play a significant role in traffic control and the maintenance of road safety.

Sales of road marking paints & coatings are projected to grow at a steady pace in future backed by the rising production and sales of vehicles worldwide. As per the International Organization of Motor Vehicle Manufacturers (OICA), in 2020, around 2851268, 1926795, and 3515372 vehicles were sold in India, the U.S., and Germany, respectively. These numbers are estimated to surge in the forthcoming years, thereby pushing the market.

Furthermore, the introduction of high-performing road pavement markings with enhanced contrast, durability, and wet reflectivity to encourage road safety is expected to augur well for the global market.

In May 2022, for instance, the Malaysian Takaful Association (MTA) and the General Insurance Association of Malaysia (PIAM) introduced a new road safety campaign named Us. It aims at inclining the mind-set of motorists and inculcating driving, as well as riding habits. These types of campaigns conducted by regulatory bodies are likely to drive the market.

Why Are Smart Systems Augmenting the Road Marking Paints & Coatings Market

Rising spending on infrastructural development by regulatory bodies for the construction of new highways is a major factor that is expected to foster the global road marking paints & coatings market growth. Increasing focus of private organizations on the maintenance and repairing of roadways to improve the safety of drivers and passengers is also likely to augment the market.

Moreover, rising investments by government agencies in the rapid development of intelligent street marking machines and systems to help record the drivers’ temperature, driving conditions, and speed are set to aid growth. These novel machines help in transferring the drivers’ details to the vehicle’s sensor systems.

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Are VOC Products Hampering the Road Marking Paints & Coatings Market

Manufacturers of solvent-based paints & coatings are facing challenges as these types of coatings often contain Volatile Organic Compounds (VOCs) that are considered to be harmful for the environment. Thus, governments of various countries are set to implement stringent norms to ban the usage of such toxic pains & coatings. This factor may hamper sales of road marking paints & coatings in the evaluation period.

How is Availability of Advanced Training Spurring Asia Pacific Road Marking Paints & Coatings Market

Asia Pacific is likely to lead in future years by procuring the largest road marking paints & coatings market share. The increasing usage of high-quality building materials and the implementation of stringent norms by government bodies to reduce highway fatalities are expected to propel growth in India, China, Japan, and South Korea.

In addition to this, better surveillance on contractors and the emergence of advanced training, as well as safety measures are anticipated to bode well for the Asia Pacific market. The higher utilization of road marking labels for on-site, public highways, and road applications to notify drivers of the speed limit is another crucial factor that is likely to drive the regional market.

Nikhil Kaitwade
Principal Consultant
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How Are Manufacturers Driving the North America Road Marking Paints & Coatings Market

The increasing number of government initiatives to improve the overall road infrastructure in the U.S. and Canada is estimated to boost the demand for road marking paints & coatings in North America. It is further expected to propel the development of high-performance, durable coatings with enhanced skid resistance and visibility.

Several manufacturing companies are also launching their production units in North America to facilitate the integration of the vertical market. They are engaging in the production of traffic paints and motorway markings to provide applicators and contractors with a chance to gain better control over the cost of products. This is another vital factor that is anticipated to fuel the North America market.

Market Competition

Some of the leading companies operating in the global road marking paints & coatings market include JotunCrown Technology, LLC, The Sherwin-Williams Company, Ennis-Flint, Inc., 3M, Rembrandtin Lack GmbH Nfg. Kg, SWARCO AG, Berger Paints, Geveko Markings, US Specialty Coatings, Aximum, and Sealmaster among others.

The global market is fragmented in nature with the presence of numerous key players. They are mainly focusing on the development of cutting-edge products, such as reflective, long-lasting, temperature-sensitive paints to attract more customers and surge sales.

Meanwhile, some of the other key players are engaging in production capacity expansions, joint ventures, new product developments, and mergers & acquisitions to strengthen their position in the market.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 3.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Material Type
  • Solvent
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • JotunCrown Technology, LLC
  • The Sherwin-Williams Company
  • Ennis-Flint, Inc.
  • 3M
  • Rembrandtin Lack GmbH Nfg. Kg
  • SWARCO AG
  • Berger Paints
  • Geveko Markings
  • US Specialty Coatings
  • Aximum
  • Sealmaster

Customization

Available Upon Request

Key Segments Profiled in the Road Marking Paints & Coatings Industry Survey

By Material Type:

  • Acrylic
  • Epoxy
  • Thermoplastics
  • Other Resins

By Solvent:

  • Water Based
  • Organic Solvent Based
  • Powder Based

By Application:

  • Highway Road
  • Warehouse Floor
  • Landing Strips
  • Park Way
  • Car Parking
  • Ramps
  • Zebra Crossing
  • Others (Kerb Stones, Center Line, Speed Humps, Edge Line)

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

The global road marking paints & coatings market is estimated to exceed US$ 11.6 Billion in 2032.

Asia Pacific is set to lead the road marking paints & coatings market in the forecast period.

JotunCrown Technology, LLC, The Sherwin-Williams Company, Ennis-Flint, Inc., 3M, Rembrandtin Lack GmbH Nfg. Kg, and SWARCO AG are some of the renowned companies in the road marking paints & coatings market.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Road Marking Paints & Coatings Market