The LATAM road marking paint & coating industry value is forecast to increase from US$ 70.0 million in 2023 to US$ 131.3 million by 2033. Over the assessment period, demand for road marking paints & coatings in LATAM is projected to surge at a CAGR of 6.0%.
The performance-based segment is expected to dominate the LATAM road marking paint & coating industry through 2033. It will likely hold a volume share of 58.2% by 2023. On the other hand, the paint-based markings segment is set to exhibit a robust CAGR of 6.9% through 2033.
The road marking paint and coating industry in Latin America is witnessing significant growth driven by diverse factors. These include rapid urbanization, the rising popularity of durable retro reflective paints, and growing emphasis on improving road safety.
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Demand for durable retroreflective paints is rising across the LATAM. This is because these paints are increasingly used for road markings to improve the driving experience and enhance road safety.
Urbanization trends in Mexico, marked by the development of city malls, drive the need for road marking paints & coatings for efficient parking solutions. This will boost the target industry during the assessment period.
The extensive road networks in Brazil and Mexico underscore the urgent need for effective road marking systems. The integration of intelligent transport systems enhances road safety and efficiency.
The aviation network in Brazil, with almost 4,000 airports, further contributes to the demand for road marking products. Overall, the industry's evolution is fueled by infrastructure expansion, urbanization, a focus on sustainability, and technological advancements.
Key Takeaways from the Report
The LATAM road marking paint & coating revenue is set to expand at a CAGR of 0% through 2033.
By material type, the performance-based segment is expected to total US$ 67.9 million by 2033.
Based on marking type, the permanent marking type segment is set to hold a market share of 4% in 2023.
Mexico is expected to account for a significant share of about 4% in 2023.
Brazil’s industry value is anticipated to reach US$ 26.7 million in 2033.
Argentina is projected to attain a valuation of US$ 12.8 million by 2033.
“In Latin America, the road marking paint & coating industry is evolving with a focus on durability, visibility, and sustainability. Integration of advanced technologies and a robust infrastructure will drive long-term growth,” says an Analyst at Future Market Insights (FMI).
Who is Winning?
Key players are focusing on developing durable and environmentally friendly road marking solutions to boost their sales and comply with regulations. They are also employing strategies like mergers, partnerships, and acquisitions to strengthen their presence in the LATAM region.
Recent development:
In 2022, Aexcel Corporation unveiled new innovations, including LowVOK and Jet-Dry Waterborne Traffic Paints, at the National Pavement Expo in Charlotte, NC.
Key Companies Profiled
Sherwin Williams Company
Asian Paints PPG
Aximum
Pidilite Industries
Ennis-Flint Inc.
US Specialty Coatings
SealMaster
Geveko Markings
Dow Inc.
Aexcel Corporation
Watco Industrial Floors
Nippon Paints
Crown USA Inc.
ATS Traffic
LATAM Road Marking Paint and Coating Industry Segmentation
By Material Type:
Performance-based
Marking Tape
Thermoplastics
Cold Plastics
Paint-based Markings
Solvent-borne Markings
Water-borne Markings
2-Component Epoxy
Others
By Marking Type:
Permanent
Removable
By Sales Channel:
B2B Sales
Road & Highway Marking
Pavement Marking
Airport Marking
B2C Sales
Parking Lot Marking
Factory Marking
Field Marking
By Region:
South America
Central America