Road Marking Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
Road markings play an important role in guiding road users and ensuring smoother flow of traffic. Markings have to be of standard color and dimensions. They should be marked at appropriate places in order to optimize their visibility and effectiveness. Traffic road marking coatings play a vital role in maintaining road safety, especially in four and six lane highways. These coatings help ensure the smooth movement of traffic, thereby reducing the number of road accidents. Road marking 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. Several types of traffic road marking coatings are available in the market. These include paint, thermoplastic, preformed polymer tape, and epoxy. Thermoplastics coatings are generally homogeneous dry mixes of binder resins, plasticizers, glass beads (or other optics), pigments, and fillers. Their usage has increased vis-à-vis paints primarily due to the performance benefits of increased durability, retro-reflectivity, and a lack of VOC solvents.
Road marking coating is a material used on a road surface in order to convey official information. Road markings are defined as lines, patterns, words, or other devices that are applied to or attached to the carriageway or kerb or to objects within as well as adjacent to the carriageway for controlling, warning, guiding, and informing road users. Besides ordinary road markings, cold plastic compounds can also be used outdoor such as bus stops, bicycle lanes, walkways, restricted areas, and car parks. A wide range of colors can be combined together in order to design a highly decorative image. In cities, it has become popular to visually divide different traffic areas. Depending on the system and thickness required, it is easy to apply the coating using a roller or trowel. Thermoplastic coat, which is also known as hot melt marking, is gaining advantage owing to its properties such as longevity and retroreflectivity.
Increase in usage of coatings in road marking coatings can be ascribed to the growth in harmful emission of paints. This has resulted in the development of thermoplastic coatings and other environment-friendly alternatives over paints. Rise in the incidence rate of road fatalities is another primary factor compelling 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. Thermoplastic coatings set quickly and adhere firmly to the surface. Extra additives can be added to retain their color over time. This improves their reflective capabilities. High strength and resistance make them wear-resistance. High visibility is also a key advantage of road marking coatings.
Manufacturers are taking initiatives to develop innovative marking systems and temperature sensitive paints. This, in turn, is increasing their product sale, as more countries are focused on beefing up their safety and maintenance. Implementation of various initiatives to reduce accidents and improve road safety & maintenance is estimated to drive the overall market in the near future. The consumer buying behavior is likely to be influenced by newly developed high-performance coatings with improved characteristics.
In terms of geography, the road marking coatings market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the major region of the road marking coatings market, with China, Japan, South Korea, and India emerging as the fastest growing countries for road marking coatings. Led by advanced technological developments and infrastructure development, the Asia Pacific is projected to remain the largest and fastest-growing market during the forecast period. Europe and North America are also witnessing significant growth, as they are the developed economies that are focused on road developments.
Key manufacturers operating in the road marking coatings market are Silikal GmbH, Geveko Markings, and Monarch Industrial Products (I) Pvt Ltd.
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