Traffic Road Marking Coatings Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global traffic road marking coatings market size is likely to reach USD 6.30 billion by 2025 at a CAGR of 5.0%,
according to a new report by Grand View Research, Inc. Technological
advancement is an important factor for market growth as countries are becoming
more concerned about public health and safety. Growing environmental concerns
are driving the need for greener products in a bid to promote a healthy
environment.
Paints are regarded as a major source of harmful VOC emissions. This has
resulted in the development of thermoplastic coatings and other eco-friendly
alternatives. Rising cases of road fatalities is another primary concern, which
is forcing regional governments to invest in technological development to
ensure highway safety and maintenance. There is a need for technological
development to deal with such issues efficiently and improve the global
economic condition as well.
Manufacturers are taking initiatives to develop innovative marking
systems and temperature-sensitive paints, which, in turn, is boosting the
market growth. Various initiatives to improve road safety and maintenance and
prevent accidents are expected to influence the overall market positively. Key
manufacturers in this market include Automark Technologies Sherwin-Williams
Company, Geveko Markings, Ennis-Flint, Crown Technologies, and Swarco AG.
Further key findings from the study suggest:
- Thermoplastic coatings emerged as the fastest-growing product
segment over the forecast period
- Thermoplastic markings are applied in a thick/built up layer to
create rumble strips. This coating sets quickly and will adhere strongly
to the surface
- In terms of volume, paint was the largest segment in 2018 with a
market share of around 44.30% and is likely to maintain the dominance in
future
- Asia Pacific is expected to emerge as the fastest-growing regional
market during the forecast years
- In North America, the Government has rolled out initiatives to
enhance road infrastructure and encourage the development of durable,
high-performance products with enhanced visibility and skid resistance
Access full research report on global traffic
road marking coatings market:
www.grandviewresearch.com/industry-analysis/traffic-road-marking-coatings-market
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Created on Nov 19th 2019 14:01. Viewed 341 times.