Traffic Road Marking Coatings Market Growth Driven by New Road Constructions | Technavio
LONDON–(BUSINESS WIRE)–#Research–The latest market research report by Technavio
on the global
traffic road marking coatings market predicts a CAGR of more
than 5% during the period 2017-2021.
The report segments the global traffic road marking coatings market by
product (paint, thermoplastic, preformed polymer tape, and epoxy) and by
geography (APAC, Europe, North America, and ROW). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global traffic road marking
coatings market, according to Technavio chemicals
and materials researchers:
- Increasing new road construction: a major market driver
-
In 2016, the global traffic road marking coatings market by paints
accounted for a share of around 45% -
In 2016, APAC dominated the global traffic road marking coatings
market, accounting for a share of around 38% -
3M, Medtronic, Geveko Markings, LANINO, The Dow Chemical Company and
The Sherwin-Williams Company are the leading players in the market
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Increasing new road construction: a major market driver
Increasing new road construction is one of the major factors driving the
global traffic
road marking coatings market. The construction of new roads across
the globe is driving the demand for traffic road marking coatings,
thereby impacting the global traffic road marking coatings market
positively. Road construction has increased significantly in several
countries in APAC. This is fueling the traffic road marking coatings
market in APAC as well as across the globe. Road and transportation are
one of the most important contributors to the economic development and
growth of a country. Being one of the most crucial public assets, the
need for constant maintenance of roads has increased, which is further
driving the global traffic road marking coatings market.
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Global traffic road marking coatings market by paint: largest product
segment
Most of the paints and coatings contain solvents, resins, fillers, and
additives. The solvent or the resin are referred to as vehicle and
comprise the total liquid content (including the binder) of the paint.
The pigment is dispersed in it. Once the coating is applied, the solvent
portion of the vehicle evaporates and parallelly the paint cures.
Acrylic resins are used as rheology modifiers in paints and coatings.
The rheology modification plays a major role in enhancing the efficiency
and effectiveness of a coating on a substrate.
According to Ajay Adikhari, a lead analyst at Technavio for research on paints,
coatings, and pigments, “The global traffic road marking
coatings market by paint is expected to dominate the global market. One
of the major advantages of paint is that it dries quickly. Drying time
plays an essential role in reducing traffic interruptions. Paint-based
traffic road marking coatings are available in several colors. These
colors indicate different functions of the paint. Paints are used in
roads, intersections and crosswalks, highways, landing strips, and
parking lots.”
Competitive vendor landscape
The global traffic
road marking coatings market is dominated by five prominent vendors
such as 3M, Geveko Markings, LATINO, the Dow Chemical, and the
Sherwin-Williams. These players have a wide geographical presence. But,
several local and regional vendors with considerable market shares also
operate in this market. The vendors compete based on operational cost,
innovation, product price, and quality. Some vendors are stronger in
terms of finance and technology than their competitors. Such players can
easily withstand the changes in market conditions and occupy leading
positions.
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traffic road marking coatings market report free of cost
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