New York
City, 25 January 2019: The Report Traffic Road Marking Coating Market is anticipated to reach
around USD 6,781 million by 2026. In 2017, the paint segment dominated the
global market, in terms of revenue. In 2017, Europe accounted for the majority
share in the global Traffic Road Marking Coating market.
The rapid increase in traffic
congestion across the globe majorly drives the growth of this market. Growing
concerns regarding road safety coupled with increasing need to efficiently
control and management road traffic supports the market growth. A significant
increase in the number of road accidents has been registered, which encourages
governments to improve the road infrastructure. There has been an increasing
construction of roads, especially in the developing regions of Asia-Pacific and
Latin America, which further augments the growth of this market. Introduction
of organic road marking coatings along with increasing awareness regarding the
use of environment friendly marking materials would provide growth
opportunities for traffic road marking coating market in the coming years.
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The various types of traffic road
marking coatings include thermoplastic, paint, preformed polymer tape, and
others. The paint segment is expected to lead the market during the forecast
period owing to its increasing demand from the developing regions. Use of paint
is generally preferred owing to its easy availability and ability to dry at a
faster rate. Thermoplastic is expected to grow at the highest CAGR during the
forecast period.
Competitive Landscape and Key Vendors:
Asia-pacific is
expected to grow at the highest CAGR during the forecast period. There has been
increase in construction of roadways in the developing countries of
Asia-Pacific. The increasing need to improve infrastructure is increasing the
demand of traffic road marking coating in the region. Governments in the
region are increasingly investing in the development of roadway infrastructure,
augmenting the market growth. Growing concerns regarding road accidents, and
rising need to control them further promotes the growth of this market. Leading
global players are expanding their presence in developing nations of China,
Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered
by these countries.
The well-known companies profiled in
the report include Vertex Group, Geveko Markings, Dow Chemical Company, Asian
Paints PPG Pvt. Ltd., Lanino Road Marking Products, Kataline Infraproducts Pvt.
Ltd., Ozark Materials, LLC, Kestrel Thermoplastics Ltd., Crown Technology LLC,
and WJ Products Ltd. among others. These companies launch new products and
collaborate with other market leaders to innovate and launch new products to
meet the increasing needs and requirements of consumers.
Read More: https://www.polarismarketresearch.com/industry-analysis/traffic-road-marking-coating-market/
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