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  • Traffic Marking Solutions Market Growth Analysis | 2022-2027

    Traffic Marking Solutions Market Growth Analysis | 2022-2027

    Traffic Marking Solutions Market Growth Analysis | 2022-2027
    Report code - SR2177 Published On : Nov,2022 No. of Pages: 125
    Traffic Marking Solutions Market Size, Share, Trend, Forecast, Competitive Analysis, and G See more...

    Market Insights

    The Traffic Marking Solutions Market is likely to grow at a significant CAGR of >4% during the forecast period to reach a value of US$ 3.9 billion in 2027.

    What are traffic marking solutions?

    Traffic marking solutions include different types of marking materials and devices. They are used to direct, guide, and regulate road users and help reduce vehicular confusion on roads, which ultimately enhances road safety and ensures smooth traffic flow. These products come in a wide range of colors to indicate different uses of roads. High contrast, abrasion resistance, durability, and night and wet reflectivity are among some of their key properties. 

    Market Dynamics

    Development of micro-mobility infrastructure, increase in the dimension of roads & highways’ marking, R&D on environmentally friendly marking materials, and evaluation of high-performance markings for automated driving are among some of the key emerging trends that would support the market’s growth.

    Covid-19 Impact

    The outbreak of the pandemic hampered the growth of the market significantly, as there were closures and restrictions on manufacturing sites, as well as constraints in the supply of raw materials, resulting in a shortage of traffic marking products due to low production during that period. The prices of these products also increased due to their shortage and increased prices of raw materials. Many road marking projects across regions were halted or delayed for a range of reasons, including scarcity of marking products, safety measures to prevent any health risks among workers, and greater focus of governments on the healthcare sector.

    The market gradually began to recover in 2021, with the resumption of production sites and the availability of raw materials, as well as the resumption of halted marking projects. An increase in the dimension of different types of traffic lines, development of micro-mobility markings, increased concern towards road safety to reduce road accidents, rising road maintenance spending, and further expansion of road networks are likely to drive the growth of the market over the forecast period.

    Recent Acquisitions

    The traffic marking solutions market is gradually consolidating as the major companies are performing mergers & acquisitions to strengthen their geographical footprints across the world and to further expand their offerings to different markets. Below is a list of some of the recent acquisitions in the market.

    • In January 2022Geveko Markings acquired Ore Peinture to gain a significant position in the French traffic marking solutions market.
    • In October 2021SWARCO AG acquired Hitex International Group to widen its presence in the UK’s traffic marking solutions market.
    • In December 2020PPG Industries, Inc. acquired Ennis Flint, Inc. and further expanded its coating business to high-performance pavement marking solutions.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Product Type

    Paints, Thermoplastics, 2-Components, Tapes, and Markers.

    Paints dominated the market. Thermoplastics are expected to remain the fastest-growing product type during the forecast period.

    Application Type

    Roads & Highways, Airport Marking, Parking Lot, and Others.

    Roads & highways are expected to remain the biggest demand generators for traffic marking solutions during the forecast period. Airport marking is anticipated to remain the fastest-growing application type during the same period.

    Region

    North America, Europe, Asia-Pacific, and the Rest of the World.

    Asia-Pacific is likely to remain the dominant and fastest-growing region during the forecast period.

     

     

    By Product Type

    The traffic marking solutions market is segmented into paints, thermoplastics, 2-components, tapes, and markers. Paints dominated the product type segment of the market in 2021, owing to their extensive usage in different regions. Furthermore, the ability to be applied in warm weather combined with various features such as ease of application, low price, and quick application would support the product's dominance over the forecast period. Paints are further bifurcated into two types, i.e., solvent-borne and water-borne paints. Rigorous regulations to limit VOC emissions and the adoption of environmentally friendly materials are supporting water-borne paints to replace solvent-based paints.

    Thermoplastics are gaining traction in the market and are poised to overtake the paints segment as they are more durable, cost-effective, and environmentally friendly alternatives to VOC-emitting paints. Furthermore, they have high reflectivity and are less expensive than tapes and two-component marking materials. In cold weather, they cure quickly, whereas, in hot weather, they take longer time to cure.

    By Application Type

    The market is segmented into roads & highways, airport marking, parking lots, and others. Roads & highways are expected to remain the biggest demand generators for traffic marking solutions during the forecast period. Further expansion of road networks to improve connectivity, along with their frequent maintenance would bolster the demand for marking solutions for roads & highways. Marking solutions are used to show numerous types of markings on streets and highways, which include longitudinal marking, transverse marking, hazard marking, block marking, arrow marking, directional marking, etc.

    Regional Analysis

    In terms of regions, Asia-Pacific is expected to remain the largest as well as the fastest-growing region in the traffic marking solutions market during the forecast period, owing to the region's largest share of the global road network, with China, India, Japan, and Australia being the major contributors. The region has the largest network of roads, which has expanded to more than 10 million kilometers. Increasing spending toward roadway infrastructure and improving road connectivity in the region, as well as a growing focus of regional governments on road maintenance and repair, would underpin the regional market growth. Furthermore, various countries in the region are implementing novel initiatives to improve road safety by investing in new types of road markings, further giving additional impetus to the demand. 

    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Major players in the market are widening their presence in key markets around the world by opening new manufacturing and distribution sites, building new partnerships, and acquiring several local players in the market. For instance, Swarco acquired Hitex International to strengthen its position in the UK market, whereas Geveko Markings acquired a French player, Ore Peinture to further expand its presence in the European market. A few years ago, Geveko Markings also acquired the Asian-Pacific companies, Flexitherm Australia and Reflective Road Safety Products Ltd. to mark its presence in the region’s market. Most of the major players are offering a variety of road marking materials for different applications.

    The following are the key players in the traffic marking solutions market:

    • Ennis Flint, Inc. (PPG Industries, Inc.)
    • The Sherwin-Williams Company
    • 3M
    • Geveko Markings (The Solix Group AB Company)
    • SWARCO
    • Nippon Paint
    • Aximum S.A. (Colas Group)
    • Kansai Helios
    • Landscapus Inc.
    • Zhejiang Tiancheng Transportation Technology Co., Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s traffic marking solutions market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Traffic Marking Solutions Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    A Bird's Eye View of the Market

    The traffic marking solutions market is expected to grow at a CAGR of 4.1% by 2027.

    The market is driven by an increase in the width of longitudinal traffic lines, growing concern for road safety to reduce accidents, rising road maintenance spending, and several other factors.

    Thermoplastics are expected to remain the market's dominant product type in the coming years due to the substitution of VOC-emitting paints by thermoplastics, which are a cost-effective and environmentally friendly alternative to paints. Furthermore, they have high durability and reflectivity and are less expensive than tapes and plural-component marking materials.

    Asia-Pacific is estimated to remain the dominant region in the traffic marking solutions market in the foreseen future on account of the largest road network with China, India, Japan, and Australia as the major contributors in the region.

    Asia-Pacific is estimated to remain the fastest-growing market for traffic marking solutions in the foreseeable future. Increasing road networks, improving road connectivity, growing focus of regional governments on maintenance and repair of roads, and the implementation of new types of road markings to enhance road safety, would drive the growth of the market in the region over the forecast period.

    Ennis Flint, Inc. (PPG Industries, Inc.), The Sherwin-Williams Company, 3M, Geveko Markings (The Solix Group AB Company), SWARCO, Nippon Paint, Aximum S.A. (Colas Group), Kansai Helios, Landscapus Inc., and Zhejiang Tiancheng Transportation Technology Co., Ltd. are the leading players in the traffic marking solutions market.

    The market is studied from 2016-2027.

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