Road Marking Paints & Coatings Market Analysis

Application (Roads & Highways, Airports, Parking Lots)

The global road marking paints and coatings market is segmented and analyzed for demand and supply by application into roads & highways, airports, parking lots, and others. Out of these, the roads & highways segment is anticipated to garner the largest revenue by 2033 owing to a rise in investment in the construction of highways and roads by the government. As per, the Department for Promotion of Industry and Internal Trade Policy (DPIIT), the construction development sector attracted Foreign Direct Investment (FDI) inflow worth USD 90.13 billion between April 2021 - December 2022. Further, according to the India Brand Equity Foundation, in 2021, the private sector invested around USD 1.98 billion in roads. Roads and highways are used by most passenger and commercial vehicles as they connect all the cities, towns, and villages. The introduction of by-pass routes and ring road constructions to eliminate the internal traffic of a city is estimated to rise the growth of the market. The highways are the longest roads that connect more than 1000 km road in a single line. The increasing number of automotive vehicles is also estimated to increase the growth of the market during the forecast period.

Type (Permanent, Removable Markings)

The global road marking paints and coatings market is also segmented and analyzed for demand and supply by type into permanent and removable markings. Amongst these two segments, the permanent markings segment is expected to garner a significant share. Permanent traffic markings are applied on road to separate the coming and going vehicles from each other and to indicate the end of the road. The zebra crossings are also made of permanent markings as they are needed for the safety of pedestrians. Usually, thermoplastic aerosol paints are used to make permanent markings on these roads. The signs such as stop, pavement markings, parking restrictions, yellow lanes, turning and reversible lanes, and HOV lanes are marked with permanent paintings. Additionally, road markings prevent most road accidents caused due to no directions or visibility issues. Thus, road markings improve the safety of the roads. In the year 2021, the number of road accidents in India was estimated to be over 4,00,320. All these factors are anticipated to boost the market growth during the forecast period.

Our in-depth analysis of the global market includes the following segments:

By Product	Water-Based Solvent-Based Thermoplastic
By Type	Permanent Markings Removable Markings
By Application	Roads & Highways Airports Parking Lots Others

Frequently Asked Questions (FAQ)

The expansion of global road length, increased sales, and production of vehicles along with investment in road construction are the major factors driving the market growth.

The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023-2033.

Stringent regulations governing VOC emissions and rising concern for environment are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are The Dow Chemical Company, PPG Industries, Inc., Sherwin-Williams, Geveko Markings, Crown Technology Inc., Nippon Paint Holdings Group, Hempel A/S, Allnex Netherlands BV, Teknos Group Oy, Aexcel Corporation, Hitex and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, type, application, and by region.

The roads & highways segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Road Marking Paints & Coatings Market Analysis