Global Traffic Road Marking Coatings Market 2017-2021
About Traffic Road Marking Coatings
Traffic road marking coatings play a vital role in maintaining the road safety, especially in four and six-lane highways. The coatings help ensure the smooth movement of traffic, thereby reducing the number of road accidents. These coatings are easy-to-apply, UV resistant, non-toxic, environment-friendly, and corrosion resistant. Apart from traffic guidance, traffic road marking coatings also act as a tool for warning, controlling, and providing information to drivers. There are several types of traffic road marking coatings available in the market such as paint, thermoplastic, preformed polymer tape, and epoxy.
Technavio’s analysts forecast the global traffic road marking coatings market to grow at a CAGR of 5.13% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global traffic road marking coatings market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Traffic Road Marking Coatings Market 2017-2021
Technavio recognizes the following companies as the key players in the global traffic road marking coatings market: 3M, Geveko Markings, LANINO, The Dow Chemical Company, and The Sherwin-Williams Company.
Other Prominent Vendors in the market are: Asian Paints PPG, Crown Technologies, Nippon Paint Holdings, SealMaster, and SWARCO.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of organic road marking materials. Traffic road marking coatings usually contain solvents that are made from VOCs. VOCs are potentially harmful to the environment. With the emergence of organic traffic road marking coatings, the use of VOCs in traffic road marking coatings will reduce. Europe and North America have strict regulations related to VOC emissions.”
According to the report, one driver in the market is increasing new road construction. The construction of new roads worldwide 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, which is fueling the traffic road marking coatings market in APAC as well as globally. Road and transportation is one of the most important contributors for 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, in turn, drives the global traffic road marking coatings market.
Further, the report states that one challenge in the market is increasing competition among vendors. The competition among the vendors is intense. Many vendors have implemented cost-efficient methods of manufacturing traffic road marking coatings in order to offer products at low prices. However, many new entrants lack the technical expertise and financial resources required for producing traffic road marking coatings, which often prevents them from entering the market. However, the presence of many regional and global players intensifies the competition, thereby affecting the revenue of the existing vendors negatively. Therefore, the vendors are looking at new ways to differentiate themselves from their competitors.
3M, Geveko Markings, LANINO, The Dow Chemical Company, and The Sherwin-Williams Company, Asian Paints PPG, Crown Technologies, Nippon Paint Holdings, SealMaster, and SWARCO.
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