Traffic Road Marking Coatings Market Growing Trade Among Emerging Economies Opening New Business-Opportunities

 

Traffic Road Marking Coatings Market

Global Traffic Road Marking Coatings Market: Overview

The COVID-19 pandemic had a negative impact and caused slowdown in various industry verticals, including the global traffic road marking coatings market from a larger umbrella of chemicals and materials category. Shutting down of economy caused halt in production and manufacturing industries that caused a sudden dip in supply. Many construction and infrastructure development projects were stranded and left unfinished during the pandemic. This affected the global traffic road marking coatings market negatively. However, the global traffic road marking coatings market is poised to expand at a stellar rate in coming years owing to the rising awareness amongst consumers related to stringent government regulations as well as road safety protocols.

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Global Traffic Road Marking Coatings Market: Major Trends and Drivers

One of the major factors driving the growth in global traffic road marking coatings market in coming years is rising government funding and investments aimed at enhancing the public infrastructure, including roads. Increasing impetus on expanding road networks in remote areas, especially in developing and developed economies is also expected to offer valuable growth opportunities in the global traffic road marking coatings market in coming years. Increasing road safety concerns are propelling the demand in global traffic road marking coatings market in coming years.

Rising instances of road accidents worldwide is one of the most prominent driving factors for the global traffic road marking coatings market. According to a report by the World Health Organization or WHO, almost 1.35 million people face death every year in road traffic accidents. This, coupled with increasing initiatives as well as strict traffic regulations imposed by governments across the world are promoting the sales in global traffic road marking coatings market. Rising demand for epoxy coatings as well as thermoplastic coatings owing to their superior mechanical strength, flexibility, abrasion resistance, low price, and higher elasticity is motivating the sales in global traffic road marking coatings market.

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Global Traffic Road Marking Coatings Market: Key Players and Manufacturers

Some of the most prominent and leading vendors and players functional within the global traffic road marking coatings market include Sherwin Williams Company, Rua Seguridad, Geveko Markings, Langfang Tenroas Glass products Co., Ltd., Asian Paints, Dulux Protective Coatings, Berger Paints, 3M, and Resincoat Ltd., among others. Certain vendors and players in the global traffic road marking coatings market are engaged in strategic collaborations, mergers and acquisitions, and joint ventures with other relevant companies in order to capture more marketplace. For example, one of the top providers of traffic control and movement marking services, called ‘Roadside Traffic Systems’ acquired a Bluffdale- based roadway striping and removal, epoxy pavement and water borne paint supplier called ‘Innovative Marking Systems’ in March of 2021.

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Global Traffic Road Marking Coatings Market: Regional Assessment

Asia Pacific region dominated the global traffic road marking coatings market in recent past. It is also expected to maintain its leading position in the global traffic road marking coatings market in coming years. Rising construction activities aimed at enhancing the public infrastructure as well as growing government schemes and projects are stimulating excellent growth opportunities in the global traffic road marking coatings market in Asia Pacific. Another region witnessing significant growth in the global traffic road marking coatings market in recent past in Europe.

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Rising demand for bettering the public and private infrastructure in the region owing to rising requirement from tourism industry is also positively influencing the global traffic road marking coatings market in Europe. North America region is also expected to witness substantial growth in the global traffic road marking coatings market in recent years in terms of volume. Furthermore, rapid industrialization in Latin American countries such as Brazil, Argentina, Chile, Mexico, and Colombia is also favouring the development of global traffic road marking coatings market.

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