“The road marking materials market is projected to register a CAGR of 5.2% between 2018 and 2023.”
The road marking materials market size is projected to grow from USD 6.8 billion in 2018 to USD 8.8 billion by 2023, at a CAGR of 5.2%. Road markings are aids to control traffic by providing information to commuters. These are traffic signs to provide awareness to motorist or pedestrians. Various countries have introduced road safety laws and standards to ensure the safety and security of people, as well as road infrastructure. The global road marking materials market is expected to be driven by various factors such as increased spending for safer roads and new infrastructure and roadway projects in emerging economies. With the increased use of road markings in lane departure warning systems (LDWS), the road marking materials market is expected to grow rapidly in the near future. However, the conservative approach of road contractors towards road markings is restraining the growth of the market.
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“Performance-based marking segment is estimated to be the faster-growing type in the overall market during the forecast period.”
The performance-based marking materials segment is expected to witness a higher growth rate in the overall road marking materials market during the forecast period. Performance-based marking materials are categorized into thermoplastics and cold plastics. Thermoplastics are commonly used surface marking materials, owing to their high durability, lack of VOC, and excellent reflection properties during the day as well as night, and in wet conditions. Cold plastics are based on methyl methacrylate resins (MMA). These are designed for use in conditions where resistance to wear and tear are of great importance. Cold plastic markings are widely used in high traffic areas where there is high snowfall. Increasing demand for low-cost and durable road marking materials from the emerging economies in APAC fuels the growth of performance-based road marking materials.
“The APAC road marking materials market is projected to witness the highest CAGR during the forecast period.”
The APAC road marking materials market is projected to register the highest CAGR between 2018 and 2023. The need to address issues such as traffic congestion, traffic violations, and road accidents are majorly driving the demand for road marking materials in the region. In APAC, countries have increasingly adopted road safety measures, which is driving the demand for road marking materials. Regulatory bodies and regional government have started addressing road safety issues by implementing stringent rules and regulations. However, to implement such initiatives at a wider level, there is an increasing need for effective products and solutions. The rapid expansion of the building & construction and related infrastructure sectors is making way for the development of modern and safe road networks, which will further propel the road marking materials market.
Breakdown of the profiles of primary interviewees:
- By Company Type – Tier 1 - 45%, Tier 2 - 22%, and Tier 3 - 33%
- By Designation – C Level - 50%, Director Level - 25%, and Others - 25%
- By Region – North America - 50%, Europe - 20%, Asia Pacific - 10%, Middle East & Africa - 10%, and South America - 10%
Some of the key companies profiled in this report are The Sherwin-Williams Company (US), Ennis-Flint, Inc. (US), SWARCO AG (Austria), Geveko Markings (Denmark), and SealMaster (US), among others.
- The report covers the road marking materials market and the use of these materials in different applications across different regions. It estimates the size of the road marking materials market for 2018 and forecasts the growth potential of the market across different segments.
- The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies adopted by them.
Key benefits of buying the report
- This research report focuses on various levels of analysis, which include industry analysis (industry trends) and company profiles.
- These insights present views on the competitive landscape, emerging and high-growth segments of the road marking materials market, high-growth regions, and drivers, restraints, opportunities, and challenges for the road marking materials market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on road marking materials offered by the top players operating in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the road marking materials market
- Market Development: Comprehensive information about lucrative and emerging markets; analyzes markets for road marking materials in different regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the road marking materials market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the road marking materials market