Table of Contents
Demand for High-performance Products Steers Market Growth
This research service identifies the major industry drivers, restraints, regional trends, technology trends, and regulatory trends in the road-marking and traffic paints and coatings market in North America and Europe. The study provides an in-depth analysis of the performance-based markings and paint-based marking products. It further drills deeper to analyse specific trends in the thermoplastics and cold-plastics sub-segments in performance-based markings. From the paint-based markings segment, the analysis focusses on water-based, solvent-based, and 2-component epoxy and polyurethane markings. Different chemistries that are used across these products are also discussed in the study. Competitive structure and market share analyses have been provided at the total market level. Unit shipment, revenue forecasts, and pricing trends have been provided for each segment. The base year is 2013, and the forecast period ends in 2020.
-Road-marking and traffic paints and coatings market in North America and Europe is primarily driven by the need for safer roads to reduce accident rates. Infrastructure spending, new road construction, and maintenance activities significantly contribute to the demand for marking materials. However, economic contraction in these regions considerably restrains the growth due to deferred and cancelled projects.
-The market remains fairly mature due to lack of product differentiation, technological advancement, and high degree of product commoditisation. Furthermore, price-sensitive road contractors further curb price increase in the market. Market participants are striving to differentiate product and service offerings to increase prices.
-Use of marking materials across regions/countries is primarily based on the availability of equipment and material usage in the past. However, need for improved performance, environmental-friendly products, and cost-competitive solutions are continuously driving road contractors to switch to newer materials in the marketplace.
-These trends are projected to stimulate the demand for thermoplastics, cold plastics, and water-borne markings as road contractors are beginning to switch to newer products based on individual requirements.
Raw Material Supply Shortages
-Raw materials that are faced with intermittent supply shortages are titanium dioxide (TiO2) and methyl metha acrylate (MMA) resins. The 2010-2011 period witnessed tight supply of these raw materials and prices of resins witnessed steep rise in the European and North American markets.
-Manufacturers started importing TiO2 from the Chinese partners, and this eventually led to significant enhancement in the quality and standards of Chinese products.
-Road-marking product manufacturers experienced reduced margins on their products due to rise in raw material prices coupled with customers with higher bargaining power. Manufacturers were, therefore, unable to pass on the rise in raw material prices to their customers.
-However, on the advent of nation-wide supply shortage of raw materials, manufacturers increased road-marking product prices. Vertical Market Integration
-Road contractors in Europe are increasingly setting up in-house manufacturing units for road-marking materials. European road contractors are large multinational companies and, therefore, integrate activities to gain better control over quality and cost. Road contractors in North America, on the other hand, are smaller, regional companies and in-house material manufacturing remain fairly difficult. However, the trend is gaining momentum in the North American market.
-These are durable marking materials that offer improved performance and functionality as compared to paint-based markings that are relatively short lived
-Adoption of these markings vary across regions and is primarily dependent on the traffic density, specifications and requirements and weather conditions.
-Performance-based markings are ideal for newly build highways that demand long lasting markings and products of improved quality.
-Rapid adoption of thermoplastics are being witnessed, whereas cold plastics is penetrating at a moderate phase due to increased cost. Paint-based Markings
-Paint-based markings are the oldest category of road markings. However, these are less durable markings and offer lower performance in terms of adhesion to substrates and brightness.
-Paint-based markings constitute a major share of road-marking materials across all regions. However, thermoplastics and cold plastics that offer improved performance have started replacing paint-based markings, especially in applications that demand increased brightness, durability, and resistance to snow plough and high traffic density.
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