Asia-Pacific Traffic Road Marking Coatings Market, By Product (Paints, Preformed Polymer Tapes, Thermoplastics, Epoxy, Field-Reacted Systems and Permanent Markers), Type (Permanent and Removable), Type of Marking (Flat Marking and Extruded Marking), Application (Road Marking Lines and Road Marking Labels), End Use (Roads and Highways, Parking Lots, Airport, Factory, Anti-Skid, Sports Field and Others), Country (Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Traffic Road Marking Coatings Market
Traffic road marking coatings market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 6.6% in the forecast period of 2021 to 2028 and expected to reach USD 1,287,304.12 million by 2028.
Road marking refers to applying paints or materials to roadways, pavements, concrete, or asphalt to transmit information to vehicles and pedestrians. This can be done by skilled experts using non-mechanical road marking equipment or by utilizing road marking machines. Based on the country, location, and purpose, road markings include a uniform system of lines, colors, and markers to transmit directions, lanes, zones, speed limits, parking, stopping, and safety.
Poor pavement is one of the major causes of road accidents. Cracks and potholes on roads slow down the passage of automobiles, buses, and trucks, resulting in a heavy traffic towards the end of the day. As a result, congestion is created leading to pollution which restrains the market growth. Repairing roads in a timely manner lowers accidents and hazardous emissions that call for the need of different road marking materials. Hence, the growing construction and maintenance activities of existing roadways are expected to promote the growth of the global traffic road marking coatings market.
The major restraints that may impact the traffic road marking coatings market are high raw material and production cost as it impacts the production of road marking products and stringent regulations for manufacturing road marking products..
This traffic road marking coatings market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Traffic Road Marking Coatings Market Scope and Market Size
Asia-Pacific traffic road marking coatings market is segmented of the categorized into product, type, type of marking, application, and end use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the traffic road marking coatings market is segmented into paints, preformed polymer tapes, thermoplastics, epoxy, field-reacted systems, and permanent markers. Paints are further segmented into solvent based and water based paints. In 2021, the paints segment is dominating as the need for the paints segment is more in China and India due to an increase in the investment of infrastructural projects.
- On the basis of type, the traffic road marking coatings market is segmented into permanent and removable. In 2021 and in Asia-Pacific, permanent type is anticipated to dominate due to the benefit of retro-reflectivity of these types of products.
- On the basis of type of marking, the traffic road marking coatings market is segmented into flat marking and extruded marking. In 2021, the increase in demand for skid resistance areas in Asia-Pacific has propelled the demand for the extruded type of marking road products in the region.
- On the basis of application, the traffic road marking coatings market is segmented into road marking lines and road marking labels. In 2021, the rise in need for more parking lots in Asian countries in Asia-Pacific leads the road marking line segment to dominate the overall region.
- On the basis of end-use, the traffic road marking coatings market is segmented into roads & highways, parking lots, airports, factory, antiskid, sports fields, and others. In 2021and in Asia-Pacific, roads and highways are expected to dominate the market due to increased rural-urban road connectivity in developing countries.
Traffic Road Marking Coatings Market Country Level Analysis
Asia-Pacific market is analysed and market size information is provided by country, product, type, type of marking, application and end use.
The countries covered in Asia-Pacific traffic road marking coatings market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand, and rest of Asia-Pacific.
- In Asia-Pacific traffic road marking coatings market, Japan is dominating the market due to high demand to manage traffic congestion and better road infrastructure in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growths in the Traffic Road Marking Coatings Industry
Asia-Pacific traffic road marking coatings market also provides you with detailed market analysis for every country growth in installed base of different kind of products for traffic road marking coatings market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the traffic road marking coatings market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Traffic Road Marking Coatings Market Share Analysis
Asia-Pacific traffic road marking coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific traffic road marking coatings market.
The major players covered in the report are PPG Industries, Inc., Nippon Paint Holdings Co., Ltd., Australian Paint Company Pty Ltd., Hempel A/S , The Sherwin-Williams Company, Dow, 3M, Geveko Markings , Hitex International Group, Arkema , SWARCO, SAKAI CHEMICAL INDUSTRY CO.,LTD., Jotun, Teknos Group, and ALLNEX GMBH among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In June, 2021, Hempel A/S has acquired a game-changing technology that will revolutionise the insulating coatings industry while also improving worker safety and reducing clients' environmental footprint and has enabled the company to develop and launch new coating products. The company implemented this upgradation to double its revenue by 2025 and to create leadership positions in all energy segments.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for traffic marking coatings through expanded quality range.
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