Road Marking Paints & Coatings Market Poised to Hit USD 2,899.8 Million by 2033, Growing at 4.3% CAGR

                                                                road marking paints & coatings
                                                                                         Road marking paints & coatings

The global road marking paints and coatings market size is estimated to reach USD 1,902.0 million in 2023. From 2023 to 2033, sales are forecast to grow at a CAGR of 4.3%, with the total market valuation projected to reach USD 2,899.8 million by 2033.

The market will be driven by rising demand from applications in roads and highways, parking lots, and pavement marking. Growth in construction and road-highway maintenance activities worldwide is expected to elevate market demand. Additionally, rapid urbanization and the launch of new smart city projects by governments will create significant demand for road marking paints and coatings.

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Another key factor that is likely to trigger road marking paint & coating sales is the increasing government regulations along with growing road safety concerns.

The mainstream road marking paints and coatings manufacturers are located in East Asia, and South Asia regions. On the other hand, North America and Europe are key consumer markets due to the high demand for road marking paints.

South Asia and South America markets are expected to remain lucrative markets during the forecast period. This is due to rapid urbanization and increasing infrastructure development activities.

Prominent manufacturers of road marking paints and coatings are strategically expanding their regional footprints through acquisitions of local players and new product launches. Various players are investing in forward integration to provide contractual solutions for road markings.

Key Takeaways from the Road Marking Paints & Coatings Market:

  • The worldwide market for road marking paints and coatings is likely to expand at 3% CAGR through 2033.
  • By material type, thermoplastics segment leads the market, holding around 50% of
  • By application, road and highway marking segment is set to progress at 4% CAGR in the forecast period.
  • North America road marking paints and coatings market is forecast to thrive at 3% CAGR through 2033.
  • Road marking paint & coating demand in China is likely to rise at 7% CAGR from 2023 to 2033.

Rise in infrastructure projects worldwide has led to a greater focus on enhancing road networks and trade routes connecting key cities within and across countries. Consequently, there has been a surge in demand for road marking paints to not only enhance the aesthetic of paved roads but also enhance driver safety and reduce accidents on modernized roadways.” – says an FMI analyst.

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Who is Winning?

Sherwin-Williams Company, Dow Inc., Geveko Markings, Nippon Paints, PPG Industries, Swarco AG, and others are few of the leading road marking paint & coating manufacturers profiled in the comprehensive version of the report.

Key players are focusing on expanding their production capacity to increase their market presence all over the globe and to gain maximum traction in the market. Further, they are employing strategies such as partnerships, acquisitions, and mergers to expand their footprint. For instance,

  • In 2022, Sika AG’s European industrial coatings business was acquired by Sherwin-Williams

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More Insights into the Road Marking Paints & Coatings Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the global road marking paints & coatings market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on material type, marking type, application, and region.

Global Road marking Paints & Coatings Market Segmentation

By Material Type:

  • Performance-based
  • Paint-Based Markings

By Marking Type:

  • Permanent
  • Removable

By Application:

  • Road and Highway Marking
  • Pavement Marking
  • Parking Lot Marking
  • Factory Marking
  • Airport Marking
  • Field Marking
  • Other Applications

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Russia and Belarus
  • Balkan and Baltic Countries
  • Central Asia
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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