Road marking paints and coatings market uplifted by rising urbanisation and surge in infrastructure projects

10 May 2023

A rise from US$8.1bn in 2022 to US$11.6bn in 2032 is anticipated for the global road marking paints and coatings market. From 2022 to 2032, the projected CAGR for the target market is 3.5%, which is sluggish. The road marking paints and coating market, which was valued at US$7.2bn in 2021, is expected to expand steadily from 2022 to 2032 due to rising public awareness of the need for road safety precautions, the implementation of stringent regulations by governments around the world and expanding road connectivity.

Road connectivity between outlying places has increased significantly in recent years. Governments around the world are putting more money into building public infrastructure as a result, and this is anticipated to drive the market for road marking paints and coatings in the years to come. The need for road marking paints and varnishes has also increased as a result of the rising car sales caused by the expanding population. In the coming years, the market for road marking paints and coatings will rise as high-performance pavement markings with improved contrast toughness, and reflectivity become more common.

Waterborne surface coatings are becoming more and more popular, which will probably help the market as a whole flourish. These coatings are naturally eco-friendly because they contain 80% water. The outstanding sealing properties, friction resistance, high gloss and strong adherence of the waterborne surface coatings to the substrate strengthen their resistance to rust and weathering. The road marking paints and coatings market has significant growth opportunities due to the intrinsic characteristics of waterborne surface coatings. Due to their widespread application in high-traffic locations, epoxy coatings also present the road marking paints and coating industry with lucrative potential. Due to its resistance to gearbox fluids, gasoline and oil, epoxy coatings are frequently chosen.

The market is also developing as a result of other reasons, such as rising regulatory body infrastructure spending, increased private organisation attention on road maintenance and rising governmental investments in the creation of Smart Street marking equipment. The market for road marking paints and coatings is expected to increase throughout the course of the projected period due to all of the aforementioned factors, as well as additional ones.

Key factors shaping the market:

  • Increasing investments in constructing new roads and highways will fuel road marking paint & coating demand
  • A rise in road repair and maintenance operations globally will boost the market
  • The introduction of new rules and regulations for improving road safety is expected to create opportunities for road marking paint & coating manufacturers
  • The growing popularity of waterborne coatings to boost the global market
  • Increasing smart city projects across the world will bolster road marking paint & coating sales
  • The development of new sustainable and eco-friendly traffic paints will create a plethora of opportunities for the market
  • Surging production and sales of vehicles will positively influence road marking paints & coating demand
  • An inclination toward using durable and low-cost thermoplastic paints will trigger sales
  • The rising popularity of preformed markings & tapes for quick applications in small work areas will boost the market
  • Integration of road marking with intelligent transport systems is likely to support market expansion

What are the growth drivers?

The market for road marking paints and varnishes has expanded significantly in recent years. Several aspects of the construction and painting industries both contribute to this rise. Among these elements are:

Growth in construction and road-highway maintenance activities:

The rise in building and road-highway maintenance operations has raised the need for road marking paints and coatings. New roads and highways are required because of the increase in infrastructure development projects.

It is also crucial to maintain the current infrastructure, which necessitates using these paints and varnishes more widely. Thus, rising construction activity around the world will continue to support sales of road marking paint and coating.

Rising urbanisation and smart city projects:

This is yet another significant market-moving element. As cities grow, there is a greater demand for effective traffic management and road safety, and road marking paints are essential in this regard.

Governments all throughout the world are spending a lot of money developing public infrastructure. New smart city initiatives are being introduced. The need for road marking paints and varnishes is thus rising.

Government regulations and increasing road safety concerns:

The demand for road marking paint and coating is also rising as a result of more stringent government rules and worries about traffic safety.

To maintain road safety, governments are putting in place tight laws that call for the use of premium road marking paints and varnishes. The rise in demand has been influenced by the public’s increased understanding of the significance of road safety.

Growing demand from sports track maintenance activities:

The expansion of the sports sector has increased the need for road marking paints for sports track upkeep.

Sports tracks require high-quality marking paints and coatings to be maintained and as the sports sector expands, so does the need for these goods.

Category insights

Why are thermoplastic paints a prime choice for road markings?

  • Thermoplastic road marking paints, also referred to as hot melt marking paints, are a cost-effective solution for marking roads and highways. This is because they provide long-lasting and retroreflective markings.
  • Thermoplastic paints have a shorter setting time compared to waterborne and solventborne paints. They also require minimal maintenance once applied. The target segment accounts for almost half of the market share.
  • Thermoplastic paints are designed to withstand tough weather conditions, heavy traffic and extreme temperatures, making them exceptionally durable. As urbanisation and the number of vehicles on the road increase, the importance of these paints cannot be overstated.
  • The hard-wearing and reflective features of thermoplastic road marking paints will continue to make them ideal for highways and high-traffic roads.
  • Retroreflective thermoplastic paints are vital for reducing accidents and enhancing road safety and their demand is expected to continue to rise in the years to come.

What is the most lucrative application of road marking paints and coatings globally?

  • The airport marking segment is expected to witness rapid growth during the projection period. This is primarily due to the critical role of road marking paints and coatings in ensuring the safety of both aircraft and passengers.
  • To be effective, airport marking paints must be highly visible, durable and of top-notch quality. They should be visible both day and night from considerable heights and able to withstand harsh weather conditions, heavy traffic and friction, as well as chemical spillages such as jet fuel.
  • With the continued growth of air travel and the development of new airports, the airport marking segment is expected to become the dominant driver of the road marking paints market’s expansion.
  • The frequency of road maintenance in the aviation sector is higher than that of commercial transportation roads and highways. As a result, the airport marking segment is anticipated to register a considerable CAGR of 4.5% during the projection period.

Competitive landscape

The global road marking paints and coatings market is moderately fragmented with key players occupying only 30% to 35% of the market share. The tier-1 players are engaged in acquisition activities to curb their competition and expand their geographical footprints in emerging markets.

Tier-2 and tier-3 players on the other hand are focusing on quality product development and strengthening of supply chains along with production capacity expansion to meet the rising demand from end users. A few of the market participants also look for forward integration strategies to enter into equipment and contract business for applying road marking paints.

  • In 2020, Geveko Markings AB acquired Oré Peinture in the biggest acquisition in their almost 100-year history. The acquisition will result in an enhanced solutions offering and a broader product range for customers of Geveko Markings.
  • In 2022, Sherwin-Williams completed the acquisition of Sika AG’s European industrial coatings business, which will be incorporated into the Performance Coatings Group operating segment.

These insights are based on a report on Road Marking Paints and Coatings Market by Future Market Insights.


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