Global Road Marking Materials Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The Road Marking Materials Market report has been segmented on the basis of material type, application, and region.
Global Road Marking Materials Market: Overview
“The Road Marking Materials Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Road marking materials are used for roadways and pathways in order to provide guidance and information to pedestrians and drivers. Uniformity in markings is standardized to avoid driveway confusion and enhance road safety.
In addition, technological advancements such as retro-reflectivity, lower installation cost, and longevity of marking are expected to support the growth of road marking materials.
Global Road Marking Materials Market: Dynamics
Rapid growing industrialization along with expansion in production capacity is a key factor expected to drive the growth of the global market over the forecast period.
In addition, increasing government safety standards resulting in increasing its application in roadways and airways is another factor expected to further fuel the growth of the target market over the forecast period.
Moreover, technological advancement such as intelligent road marking systems is another factor expected to boost the growth of the global market over the forecast period.
Furthermore, increasing spending on new infrastructure and roadway projects across emerging economies are some other factors expected to propel the growth of the target market over the forecast period.
However, fluctuating cost of raw materials such as pigments, resins, and additives which are extracted from crude oil is a key factor expected to drive the growth of the global market over the forecast period.
In addition, the unstable oil and gas industry across the globe, owing to various political issues is another factor expected to hamper the growth of the target market over the forecast period.
An ongoing trend observed in the global market is increasing preference for eco-friendly road marking products across various developing countries is another factor expected to support the growth of the target market over the forecast period.
Technological advancements in order to decrease maintenance costs such as intelligent road marking systems, increasing application in airways, increasing use of bio-based materials, and government safety standards are among some factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Global Road Marking Materials Market: Segment Analysis
Among the material type segments, the paint-based markings segment is expected to drive growth of the target market over the forecast period, owing to its long durability and low costs, and increasing preference towards paint-based coatings as compared to performance-based products.
Among the application segments, the road marking application segment is expected to register significant growth in terms of revenue over the forecast period.
Global Road Marking Materials Market: Regional Analysis
The market in Asia Pacific is expected to account for the highest CAGR over the forecast period, owing to increasing demand to address issues such as traffic congestion, traffic violations, and road accidents across various countries in the region.
In addition, rising awareness regarding safety coupled with urbanization across India and China is another factor expected to drive the growth of the target market in this region over the forecast period.
Global Road Marking Materials Market Segmentation:
Segmentation by material type:
- Paint Based Materials
- Epoxy based
- Performance Based Materials
- Cold plastics
Segmentation by application:
- Road marking
- Factory marking
- Car park marking
- Antiskid marking
- Airport markings
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- The Sherwin-Williams Company
- Aximum S.A.
- Geveko Markings
- Ozark Materials, LLC
- Lackfabrik GmbH
- SealMaster Industries, Inc.
- 3M Company
- Rembrandtin Lack GmbH Nfg KG
- Crown Technology, LLC
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