Using paints and coatings on roads, pavements, concrete, or asphalt to show information for cars and pedestrians—such as parking, stopping, instructions, lanes, zones, and speed limits—is known as road marking. Road marking is often completed by either highly qualified professionals using non-mechanical road marking equipment or by using road marking machines like fibre lasers or laser marking machines. Road marking paints and varnishes are expected to become more in demand as road development continues to expand globally.
Global Road Marking Paints and Coatings Market Driving Factors and Challenges
One of the primary factors is the rise in investments in the development of road infrastructure, which has made improving trade routes and road networks linking important cities both within and between nations a priority. Because of this, there has been a sharp increase in demand for road marking paints, which improve both road safety and the appearance of paved roads. The market for road marking paint has also expanded as a result of increased urbanisation. Government programmes and private sector investments in transport infrastructure projects have an impact on the market.
The short paint durability on parking lots and highways is one of the main issues facing the performance-based, paint-based markings sector. Conventional paint requires reapplication every six to twelve months, depending on the weather. This means that cities and local governments must pay more for maintenance. Regulations pertaining to the use of volatile organic compounds in paint formulations also force producers to continuously innovate in order to lower the VOC content of their products without sacrificing their slip resistance, durability, or visibility.
Impact of COVID-19 on Global Road Marking Paints and Coatings Market
The COVID-19 pandemic has had a major effect on the expansion of the worldwide market for road marking paints and coatings. Construction and infrastructure development projects were temporarily put on hold due to strict social distancing measures and lockdowns enforced by many governments. Construction on roads and highways was consequently put off or delayed. During this time, the infrastructure and transportation industries' need for road marking materials significantly decreased. More limitations on cross-border trade and supply chain interruptions limited paint makers access to raw materials.
Global Road Marking Paints and Coatings Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Sherwin Williams Company, Asian Paints PPG, Pidilite Industries, Helios Road Markings, Berger paints, US Specialty Coatings, Aexcel Corporation, Fleet Line Markers Ltd., Nippon Paints, Crown USA Inc. and others.
Global Road Marking Paints and Coatings Market Segmentation:
By Material Type: Based on the Material Type, Global Road Marking Paints and Coatings Market is segmented as; Marking Tape, Thermoplastics, Cold Plastics, Paint-Based Markings, Solvent-borne Markings, Water-borne Markings, 2-Component Epoxy, Others.
By Marking Type: Based on the Marking Type, Global Road Marking Paints and Coatings Market is segmented as; Permanent, Removable.
By Application: Based on the Application, Global Road Marking Paints and Coatings Market is segmented as; Road and Highway Marking, Pavement Marking, Parking Lot Marking, Factory Marking, Airport Marking, Field Marking, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.