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Report Ocean published the latest research report on the “Thermoplastic Marking Paint Market”. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. Hofmann Road Marking
The global thermoplastic marking paint market held a market value of USD 2,171.7 million in 2021 and is estimated to reach USD 2,854.4 million by the year 2027. The market is projected to list a CAGR of 4.39% during the forecast period. The market volume was estimated to be 4,028 thousand tons in 2021, and is projected to rise at a CAGR of 3.83% over the anticipated period.
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To generate rumble strips, thermoplastic marks are applied in a thick, built-up layer. This coating hardens rapidly and sticks to the surface securely. It can be given additional ingredients to maintain its colour over time, increasing its ability to reflect light. They wear resistance because of their high strength and resistance.
The market is anticipated to increase as a result of rising demand for parking space markers in both public and private parking lots. Global regulatory organisations are always developing rules to increase road safety. While industrialised nations like North America and Europe already have a well-established regulatory framework, emerging economies are still working to improve the system to guarantee road safety and upkeep.
Increasing Number of Airport and Road Construction Activities
Intelligent street marking systems and devices that assist in recording the driver’s speed, driving circumstances, and temperature while communicating information to the vehicle’s sensor system have seen an increase in market investments. Markings for parking spaces, loading zones, and travel lanes are frequently made with paint. Thermoplastic coat, also known as hot melt marking, is becoming more popular because of its qualities including durability and retro-reflectivity.
Preformed polymer tape is a plastic sheet that is cold applied and used to designate stop bars, crosswalks, and traffic lanes. A coloured resin base and a catalyst are the main components of epoxy, which is a dependable and affordable solution. These coatings are chosen over plastic because of their inexpensive cost and high level of dependability. Manufacturers are launching projects to create temperature-sensitive paints that can endure harsh weather conditions including snowfall and torrential rain. For instance, in May 2020, Auckland Airport announced plans to move on with its proposal to repair the runway pavement by taking use of the opportunity provided by traffic restrictions during the pandemic.
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The global thermoplastic marking paint market is segmented into type, application.
By Type, Polyurethane Base Material Epoxy Base Material Chlorinated Rubber Base Material Others
The polyurethane base material segment is likely to hold an opportunity of more than USD 438.7 million for 2021 to 2027. The epoxy base material segment is expected to grow the highest during the forecast period with a CAGR of 8.76%.
By Application, Roads & Streets Parking Lots Airport Others
The road and streets segment is projected to cross the mark of USD 1,690.0 million by 2025, in terms of revenue. The increased utilisation of road marking lines to guide the cars on the road is likely to push the need for road marking lines in the approaching years. The marking denotes the delineation of traffic path and lateral clearance from traffic hazards for safe and smooth passage on the road. It also functions as a tool for disseminating information, managing traffic, and warning road users.
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Due to their excellent suitability for use on roads, public highways, and on-site applications, road marking labels are anticipated to become the application segment with the fastest growth. Labels on traffic road markings encourage traffic safety, alert drivers to the posted speed limit, and give directions and other helpful information to all users of the road, including cyclists and pedestrians. On the other hand, the airport segment is likely to hold the highest CAGR of 5.19% during 2022 to 2027.
On June 8th, 2023, the Bureau of Economic Analysis and the U.S. Census Bureau jointly released a report highlighting the resurgence of the U.S. market. The comprehensive analysis extended to the recovery of U.S. International Trade in July 2022. Notably, April 2022 witnessed a notable upswing in exports, reaching $300 billion, signifying a $13.4 billion surge. Concurrently, imports saw an increase to $294.5 billion, marking a substantial growth of $17.4 billion.
Despite the ongoing challenges posed by the persistent impact of COVID-19 on global economies, the report underscored a positive trajectory in the U.S. market. The year-over-year comparison between April 2020 and April 2022 revealed a decline in exports but a noteworthy rise in imports during the same period, indicative of the market’s evident attempts at recovery. However, it is essential to acknowledge that this recovery will directly influence the Consumer Goods industries, creating significant opportunities in the Market. The evolving market dynamics call for strategic considerations and proactive measures within the Consumer Goods sector to capitalize on the emerging trends and navigate the evolving landscape successfully.
By region, the global thermoplastic marking paint market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.
The Asia Pacific market for thermoplastic marking paint held the largest market share of more than 35% in 2020, with a revenue of USD 1,349.1 million. The regional market is supposed to be the fastest growing with a CAGR of more than 5.12% over the anticipated period.
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The prominent players operating in the global thermoplastic marking paint market include 3M, Nippon Paint, Geveko Markings, Sherwin-Williams, Swarco AG, SealMaster PPG Industries, Asian Paints PPG, Ennis Flint, Hempel, and others.
The chief ten players in the market hold approximately 55% of the market share. These market players are investing in collaborations, product launches, to sustain in the industry. For instance, in February 2021, Hempel A/S signed a purchase agreement for the acquisition of Wattyl, a manufacturer of paint for the decorative and protective segments. Similarly, Pavement marking material producer and maker Ennis-Flint, Inc. made strides toward opening a new manufacturing facility in the Triad in January 2019. The production capacity of prefabricated thermoplastic pavement markings for the company’s speciality market products was increased at the new plant.
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The global thermoplastic marking paint market report provides insights on the below pointers:
The global thermoplastic marking paint market report answers questions such as:
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