February 20, 2023 06:24 ET | Source: Research and Markets Research and Markets
Dublin, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Thermoplastic Marking Paint Market, By Type, By Application, Estimation & Forecast, 2016 - 2027" report has been added to ResearchAndMarkets.com's offering. 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. The global thermoplastic marking paint market is projected to witness momentous growth over the anticipated period due to the increasing industry applications as well as the high adoption of thermoplastic marking paints for the construction of roads and airports. In addition to that, the rising investment in strategic moves is likely to fuel the market growth. Customized Highway Marking Coating
Moreover, the key market players are actively involved in strategic initiatives, including collaborations, product launches, and joint ventures. Furthermore, the Asia Pacific market for thermoplastic marking paint is anticipated to be the fastest growing region owing to the increasing demand of thermoplastic marking paint in these countries. The market is segmented based on type, application. Growth Influencers: Increasing 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. Segments Overview: The global thermoplastic marking paint market is segmented into type, application. By Type
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
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. 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. Regional Overview 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. Competitive Landscape 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. The global thermoplastic marking paint market report provides insights on the below pointers:
The global thermoplastic marking paint market report answers questions such as:
A selection of companies mentioned in this report includes
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