LONDON, Aug. 4, 2014 /PRNewswire/ -- The road-marking and traffic paints and coatings market in Europe and North America is primarily driven by the need for safer roads. Infrastructure spending, new road construction and maintenance activities significantly contribute to the demand for marking materials. As uptake surges, demand will grow for intelligent road-marking systems that communicate temperature, humidity and road conditions to a vehicle's sensor systems.
New analysis from Frost & Sullivan, Strategic Analysis of Road-marking and Traffic Paints and Coatings Market in North America and Europe, finds that the market earned revenues of $2.23 billion in 2013 and estimates this to reach $2.62 billion in 2020. European countries will increasingly adopt performance-based markings, whereas water-borne solutions will find takers in North America.
"Governments in both Europe and North America have rolled out initiatives to improve road infrastructure, boosting sale volumes as well as encouraging the development of durable, high-performance products with enhanced visibility and skid resistance," said Frost & Sullivan Chemicals, Materials and Food Research Analyst Soundarya Shankar. "Manufacturers are further making an effort to develop temperature sensitive paints that glow under specified conditions to warn drivers; for instance, when conditions are slippery due to ice formation."
These advanced solutions are likely to take a few years to gain traction, as several conservative road contractors prefer basic, low-cost products. Others demand high-performance solutions at competitive prices, shrinking coating manufacturer margins. The large number of market participants offering similar products has commoditised road-marking products and added to price pressures.
Moreover, continued economic strain in North America and Europe will affect construction and infrastructure spending to an extent. Focus on expanding railway infrastructure is also posing a threat to road construction and renovation, affecting the road-markings market.
"In this competitive market, enabling vertical market integration by launching manufacturing units for road marking and traffic paints will allow road contractors and applicators to acquire better control over cost and quality of products," concluded Shankar. "This is a visible trend in the European market and the one that is rapidly gaining momentum in North America."
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Strategic Analysis of Road-marking and Traffic Paints and Coatings Market in North America and Europe is part of the Chemicals & Materials (http://www.chemicals.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Powder Coatings Market, Global Industrial Greases Market and Opportunities for Bio-based Materials, and Electric Vehicles Lithium-ion Batteries Chemicals and Materials Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Strategic Analysis of Road-marking and Traffic Paints and Coatings Market in North America and Europe
SOURCE Frost & Sullivan