Taille du marché mondial, prévisions et tendances marquantes sur 2023-2033
Road Marking Paints & Coatings Market is expected to cross $10 billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In 2022, the road marking paints & coatings industry size exceeded $6 billion. The growth of the market can be attributed to the expansion in the global road length. In 2018, there were a total of 64,285,009 km of roads in the world. Among them, the expressway length was 411,853 km and the remaining 63,873,156 km were considered as normal roads (paved and unpaved). The addition of additional lanes and roads helps in reducing traffic. Moreover, it improves delivery times by reducing travel time and improving productivity. The increase in fuel prices can be avoided by controlling traffic and improving the economic development of people. In addition, reducing road traffic helps in reducing carbon emissions and promoting an eco-friendly environment. All these factors together are estimated to increase the market growth.
Road marking is the process of applying paints and coatings to roads, pavements, concrete, or asphalt to display information such as directions, lanes, zones, speed limits, parking, stopping, and safety of vehicles and pedestrians. Road marking is usually done either by trained experts using non-mechanical road marking equipment or by using road marking machines such as fiber laser , or laser marking machines . The increase in road construction across the world is expected to boost the demand for road marking paints and coatings. Roads are constructed to provide proper driving directions at any location to prevent accidents which are expected to have a positive impact on the growth of the road marking paints and coatings market. India's National Highways construction data has been reported at 1,966 km as of June 2022. This is an increase from the previous figure of 1,307 km as of May 2022.
Peintures et revêtements de marquage routier Secteur : facteurs de croissance et défis
Growth factors
- High Spending on Street Construction to Improve Road Facilities – According to recent findings, monthly spending on road and street construction in the United States has increased from $80 billion in 2012 to $100 billion in 2021. Moreover, the value of road and street construction in the United States is expected to reach approximately $150 billion by 2025.
- Increase in road accident deaths due to damaged roads – According to data released by the World Health Organization in 2022, approximately 1.3 million people die each year due to road accidents worldwide.
- Prevalence of traffic congestion with increasing number of vehicles on the road – It is estimated that the prevalence of traffic around the world increases the use of road marking paints and coatings to direct and eliminate congestion in a short period of time. In January 2020, the US vehicle fleet traveled approximately 240.6 billion vehicle miles. Moreover, between January and December 2021, the traffic volume in the US reached approximately 3.2 trillion vehicle miles.
- Increasing demand and sales of vehicles with increasing disposable income – According to the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle sales increased from 78,774,320 vehicles in 2020 to 82,684,788 vehicles in 2021.
- Expansion of Research and Development Spending with Development in the Economy – Statistics revealed by the World Bank show that research and development spending accounted for 2.63% of total GDP in 2020.
Challenges
- Growing Concern for Environment – Expansion of roads leads to cutting down of forest lands affects animal habitats, destruction of beautiful landscapes, trees, and reduction in animal population. Increasing pollution caused by vehicle emissions increases due to increase in lanes and roads. This is the estimated reason for the hurdles in the market growth during the forecast period.
- Fluctuating raw material costs
- Regulations governing VOC emissions
Peintures et revêtements de marquage routier Marché: les principales perspectives
Segmentation des peintures et revêtements de marquage routier
Demand (roads, airports, parking)
The global road marking paints and coatings market is segmented and analyzed on the basis of demand and supply by application across roads and highways, airports, parking lots, and others. Of these, the roads and highways sector is expected to generate the highest revenue by 2033 owing to increasing government investments in road and highway construction. According to the Ministry for Promotion of Industry and Internal Trade Policy (DPIIT), the construction development sector attracted foreign direct investment (FDI) worth $90.13 billion between April 2021 and December 2022. Additionally, according to the India Brand Equity Foundation, in 2021, the private sector invested approximately $1.98 billion in roads. Roads and highways are used by most travelers and commercial vehicles as they connect all cities, towns, and villages. The introduction of bypass routes and circular road constructions to eliminate internal traffic from a city are estimated to increase the market growth. The roads are the longest ones that connect more than 1000 km of road in a single line. The increasing number of motor vehicles is also expected to increase the market growth during the forecast period.
Type (permanent, removable marking)
The global road marking paints and coatings market is also segmented and analyzed for demand and supply by type into permanent and removable markings. Among these two segments, the permanent markings segment is expected to garner a significant share. Permanent traffic markings are applied on the road to separate moving and non-moving vehicles from each other and to indicate the end of the road.
d. Zebra crossings are also provided with permanent markings as they are necessary for pedestrian safety. Usually, thermoplastic spray paints are used to make permanent markings on these roads. Signs such as stop signs, pavement markings, parking restrictions, yellow lanes, turning and reversible lanes, and HOV lanes are marked with permanent paints. Moreover, road markings prevent most of the road accidents caused due to lack of direction or visibility. Thus, road markings improve the safety of roads. In 2021, the number of road accidents in India was estimated to be over 4,00,320. All these factors are expected to drive the market growth during the forecast period.
Our in-depth analysis of the global market includes the following segments:
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Personnaliser ce rapportIndustrie des peintures et revêtements de marquage routier - Synopsis régional
APAC Market Statistics
The Asia Pacific Road Marking Paints & Coatings Market, among all other regions, is expected to hold the largest market share by the end of 2033. The growth of the market can be primarily attributed to the presence of a large road network. As per recent estimates, in 2022, China had the largest road network compared to other countries in the Asia Pacific region, estimated at around 4.9 million kilometers. India followed China with a road coverage of around 4.6 million kilometers in the same year. The high density of available roads is estimated to aid the growth of the road marking paints & coatings market. Moreover, increasing sales and production of automotive vehicles accounts for the growth of the road marking paints & coatings market in the coming years. According to the International Organization of Motor Vehicle Manufacturers (OICA), new vehicle sales and registrations in the region increased from 40,322,544 vehicles in 2020 to 42,663,736 vehicles in 2021.
European Market Forecast
The road paints and coatings market in the Europe region is estimated to be at the second position in the coming years. The increasing development standards of the European Union government to improve road infrastructure and facilities. The growing safety concerns reduce road deaths during traffic jams. Furthermore, it improves surveillance, quality of construction materials, and safety of people on the roads. Therefore, the increasing growth of the market is attributed to the above-mentioned factors. As per the estimates, in 2021, around 40 million road deaths are recorded in Europe, with an increase of more than 4% compared to 2020.
Entreprises dominant le marquage routier Peintures et revêtements Paysage
- The Dow Chemical Company
- Company Overview
- Operational strategy
- Main products offered
- Financial results
- Key performance indicators
- Risk analysis
- Recent development
- Regional presence
- SWOT Analysis
- PPG Industries, Inc.
- Sherwin-Williams
- Geveko markers
- Crown Technology Inc.
- Nippon Paint Holdings Group
- Hempel A/S
- Germany
- Teknos Oie Group
- Aexcel Company
- Hitex
In the News
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The Dow Chemical Company launched DURATRACK 2K Technology for large area markings, including green cycle lanes. This new development is said to provide superior adhesion, skid resistance, UV durability and short drying time while promoting work area safety through a fast and efficient installation process.
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PPG Industries, Inc. has created a new business unit called Traffic Solutions, following the acquisition of Ennis-Flint in December 2020. This unit is focused on manufacturing and supplying a range of pavement marking products and other advanced technologies across a variety of industries.
Crédits des auteurs: Rajrani Baghel
- Report ID: 4183
- Published Date: Feb 23, 2023
- Report Format: PDF, PPT
