The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The road marking materials market is projected to grow from USD 6.1 billion in 2020 to USD 7.5 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. The major reasons for the growth of the road marking materials market include increased spending on safer roads, and new infrastructure and roadway projects in emerging economies. These factors are responsible for driving the demand for road marking materials market.
Performance-based type of road marking material is projected to grow with the highest CAGR during the forecast period of 2020-2025. Thermoplastics and cold plastics are the subtypes of performance-based markings. Thermoplastics are one of the most commonly used surface marking materials owing to their increased durability, lack of VOC components, and excellent reflection properties at day as well as night and in wet conditions. Also, cold plastics are employed used when an extended life of road markings is required. These factors are expected to drive the performance-based markings growth in the type segment of road marking materials market.
“Road & highway markings are estimated to lead the road marking materials market, in by application segment during the forecast period”
By application, road & highway markings are estimated to be the largest segment in road marking materials market in 2020. The road & highway markings considered in this report are thermoplastics, cold plastics, solvent-based paints, and water-based paints. These markings are projected to lead the road marking materials market as they are applied on the largest segment of road markings market, which are the roads and highways. Due to this factor the road & highway markings are supposed to lead the road marking materials market during the forecast period.
“Asia Pacific road marking materials market is projected to grow at the highest CAGR during the forecast period, in terms of value.”
Asia Pacific is projected to be the fastest-growing market for road marking materials during the forecast period. Factors like growing demand for safer roads as well as the increasing investments in the civil construction sector support the use of road marking materials in the Asia Pacific region, during the forecast period.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 16%, Tier 2 – 36%, and Tier 3 – 48%
- By Designation: C-level Executives – 16%, Directors – 24%, and Others – 60%
- By Region: Europe – 36%, North America – 24%, Asia Pacific – 20%, Middle East & Africa –12%, and South America – 8%
The road marking materials market report is dominated by players , such as The Sherwin-Williams Company (US), Ennis-Flint, Inc. (US), SWARCO AG (Austria), Geveko Markings (Denmark), SealMaster (US), 3M (US), Aximum (France), Rembrandtin Lack GmbH Nfg. KG (Austria), Crown Technology, LLC (US), Basler Lacke (Switzerland), and Ozark Materials, LLC (US).
The report defines, segments, and projects the road marking materials market based on type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key road marking materials manufacturers and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such new product launches, acquisitions, and expansions, undertaken by them in the market.
Reasons To Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the road marking materials market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.