The intelligent marking system is one of the major technological breakthroughs for highway & street safety. Also, manufacturers have been conducting research and development initiatives to develop night glow and temperature-sensitive paints which are expected to create new avenues for investment in the near future. Maintenance and repainting business for highway & street maintenance and safety purpose is anticipated to establish as growth opportunity over the forecast period.
Paint emerged as the leading product segment with demand share estimated at 44.7% in 2014. The industry is anticipated to witness stable growth from 2015 to 2022 on account of increasing preference of alternatives such as thermoplastics.
Further key findings from the report suggest:
The global traffic road marking coating market demand exceeded 1,200 kilo tons in 2014 and is expected to reach 1,801.4 kilo tons by 2022, growing at a CAGR of 4.7% from 2015 to 2022
Thermoplastic is expected to witness the highest growth of 5.1% from 2015 to 2022. This is on account of its high-performance features such as extended durability, reflectivity and negligible VOC emissions which are making it a perfect solution over paints and other coatings.
Europe was the leading regional market with demand share estimated at 31.9% in 2014. The regional industry is anticipated to witness moderate growth over the forecast period on account of depreciating highway & street quality resulting into the high need for maintenance and repainting activities. Asia Pacific is expected to witness the highest growth of 5.6% from 2015 to 2022.
The Middle East & Africa is expected to grow at a CAGR of 5.1% over the forecast period. The regional demand is anticipated to be majorly driven by the implementation of marking systems in order to reduce highway & street fatalities rates.
A significant number of manufacturers are present in the global industry. Key industry participants include Sherwin-Williams Company, Ennis-Flint, Automark Technologies, Asian Paints, Seal Master and Lanino. Expanding product lines are expected to emerge as a major strategy adopted by key manufacturers to increase their global presence.Read the full report: http://www.reportlinker.com/p03847269-summary/view-report.html
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