Road Marking Paints & Coatings Market Size

Road Marking Paints and Coatings Market size is projected to cross USD 10 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period i.e., 2023-2033. In the year 2022, the industry size of road marking paints and coatings was over USD 6 Billion. The growth of the market can be attributed to the expansion of the global road length. As of 2018, there was a total of 64,285,009 km of roads in the world. Out of these, the length of expressways was 411,853 km and the rest 63,873,156 km were considered normal roads (paved and not paved). The addition of extra lanes and road routes helps to reduce the traffic. Also, it improves delivery time by reducing travel time and improving productivity. The increased fuel prices can be saved by traffic control and enhance the economic development of people. Further, the reduction in road traffic helps to minimize carbon emissions and promote an eco-friendly environment. All these factors together are estimated to hike the growth of the market.

Road marking is the process of applying paints and coatings to roadways, pavements, concrete, or asphalt to display information such as directions, lanes, zones, speed limits, parking, stopping, and safety to vehicles and pedestrians. Road marking is usually done either by skilled experts using non-mechanical road marking equipment or by the utilization of road marking machines such as fiber laser, or laser marking machines. The increase in the construction of roads across the globe is anticipated to foster the demand for road marking paints & coatings. Highways are constructed to provide proper road directions in every place to prevent accidents which are anticipated to have a positive impact on the growth of the road marking paints & coatings market. The construction data of India’s national highways were reported at 1,966 km in June 2022. This was an increase from the previous number of 1,307 km in May 2022.