Report Predicts Growth in Market for Road Marking Coatings
NEW YORK — According to a new study published by Polaris Market Research, the worldwide road marking coatings market is anticipated to reach around $6,781 million by 2026. In 2017, the paint segment dominated the global market, in terms of revenue. In 2017, Europe accounted for the majority share in the global market for road marking coatings.
The rapid increase in traffic congestion across the globe is driving the growth of this market. Growing concerns regarding road safety coupled with an increasing need to efficiently control and manage traffic support the market growth. A significant increase in the number of road accidents has been reported, which encourages governments to improve the road infrastructure. There has been an increase in road construction, especially in the developing regions of Asia-Pacific and Latin America, which further augments the growth of this market. The introduction of organic road marking coatings along with increasing awareness regarding the use of environment-friendly marking materials will provide growth opportunities for road marking coating market in the coming years, according to the report.