The global marking coatings market size is expected to witness potential gains in the future and register a significant CAGR of 4.8% over the forecast period (2019 - 2027).
Marking coatings are retro reflective paints used in road marking in yellow, white, black, orange, and grey colors. These coatings are traffic bearable in less than 15 minutes. These coatings are easy to apply by brush, roller or spray. Marking coatings offer excellent adhesion to cementitious substrates and UV resistance. Applications of marking coatings include, highway, park way, and airport runway marking, speed humps, ramps, and zebra crossing.
There are several types of marking coatings such as photo luminescent dark glow marking, epoxy-based marking paint, polyurethane (PU)-based cold applied durable marking paint, acrylate-based road marking, and PU-based cold applied durable marking paint. Titanium dioxide is a major raw material required to manufacture marking coatings. Increasing demand to mark traffic zones, footpaths, pavements, speed breakers, and zebra crossings on roads is expected to boost growth of the global marking coatings market over the forecast period.
Increasing awareness regarding road safety is also expected to drive growth of the market. In four and six lane highways, road marking plays major role in safety and promotes safe, smooth, and orderly movement of traffic. Marking coatings can also be used to control, warn, and offer Apart traffic guidance and information to road users.
However, marking coatings emit volatile organic compounds (VOCs) that may lead to adverse respiratory, allergic, or immune effects in infants or children. This in turn may hinder the market growth over the forecast period. Research and development activities focusing on elimination of VOCs from coatings is expected to offer lucrative growth opportunities for the market players.
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in Asia Pacific is expected to account for major market share, owing to growing infrastructure development and increasing construction of roads in economies of China and India. North America market is expected to witness significant growth, owing to stringent rules and regulations regarding road safety and traffic.
The major players operating in global marking coatings market include, Arcon Construction Supplies, Aexcel Corp, Diamond Vogel, Blastline USA Inc., Grainger, H G Helios Group, Garon Products Inc., NCP Coatings, INCL-X, Kelly Creswell Inc., Sherwin Williams, Teknos, TherMark, Spencer Coatings, U C Coatings, and U S Specialty Coatings.