The report on the Traffic Marking Coatings Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2027. The report also offers insights into different market segments and other factors affecting the market.
The traffic marking coatings market to grow at a decent CAGR of 3.8% during the forecast period to reach a value of US$ 1,385 Million in 2027. Along with new road construction, repair & maintenance is another key demand generator. High impacts and severe weather conditions are always hazards for roads, highways, and bridges. Therefore, it is necessary to regularly maintain the traffic marking lines and sign labels. Also, an increase in the investment in smart street marking systems to promote road safety is creating new business opportunities.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The growth curves of Traffic Marking Coatings market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Traffic Marking Coatings market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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Traffic Marking Coatings Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.
The Traffic Marking Coatings market is segmented into the following categories.
By Resin Type
The market is bifurcated into Acrylics, Alkyds, Epoxy, and Polyester. Acrylics remain the most preferred coating materials for traffic marking solutions in the foreseen future. Quick-drying technology is used in all-acrylic formulations to create durable, long-lasting traffic paints. They are also made to offer superior latex and paint stability. Other resins such as alkyds, dry up slowly and lack the hydrolytic stability or weatherability required for traffic marking. High solids latexes and styrene acrylic compounds with drying aids are also utilized.
By Technology type
The market is segmented into Solvent-Borne Coatings and Water-Borne Coatings. Solvent-Borne coatings remain the leading technology in traffic marking solutions. Solvent-borne pavement marking coatings are frequently employed on international highways. Due to its quick drying time, while maintaining a good mix between performance, cost, and simplicity of application, it continues to be the preferred marking technology in lower conditions.
By Application Type
The market is segmented into Roads & Highways, Airport Marking, Parking lots, and Others. Among these application types, roads & highways are the biggest users of traffic marking coatings. The growing demand for water-borne thermoplastic coatings for protecting the retro-reflectivity markings on roads and parking spaces/lots is one of the prime factors driving the market. Furthermore, increasing demand for waterproof coatings from multiple application areas including airports, malls, parking lots of malls, shopping centers, housing societies, etc., is also expected to drive the market growth.
North America is expected to remain the largest market for traffic marking coatings over the forecast period. In addition to that, the region is likely to witness healthy market growth in the coming years. The increased construction of residential and commercial infrastructure is helping to promote the use of traffic road marking paints. The existence of a substantial base of coatings and paint manufacturing is also projected to support regional prosperity. The traffic road marking coatings market expansion will be aided by strict traffic regulations.
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