The global road marking materials market was documented US$ X.48 Bn and is expected to reach US$ X.94 Bn by 2027, at a CAGR of X.5 % during a forecast period.
Global Road Marking Materials Market
The global road marking materials market was documented US$ X.48 Bn and is expected to reach US$ X.94 Bn by 2027, at a CAGR of X.5 % during a forecast period. Also, road marketing materials segment is expected to grow at a CAGR of XX.8% over the estimated period. Road marking materials epoxy type segment is expected to register a remarkable growth at a CAGR of XX%. Asia pacific region is accounted for leading share of XX% in 2019 and expected to grow as the end-user segment is highly involved in consumption of road marking materials will help this market to grow.
Safety concern on the road during transportation, long road travelling and other activities belong to the road side is expected to drive the market growth and will opens numerous opportunities for the global road marking materials market. Additionally, growing road side accidents across the globe is increasing in the death number is forcing the government to concentrate on the safety, thus initiative by the management and Increased spending on the roadway projects with new infrastructure in developing countries expected to observe a major growth markings materials market in the coming years. Further, the growth in the use of autonomous vehicles and road markings in lane departure warning systems is growing the market demand. Thus all these factors are responsible for the growth of global road marking materials market. Furthermore, increasing requirement for traffic road marking coatings by private and public parking sector is estimated to boost the market growth.
The conventional method of road servicers is the major disadvantage of the road marking materials market. Though, the large number of contributors in the market provides similar road marking products add to price pressures on the manufacturers, contractors, stakeholders, and local authorities, is hampering the market growth in the coming years.
Road Marking Materials Market Segment analysis:
By type, the paint-based marking segment is projected to hold the larger market share from the overall market during the forecast period. Paint-based markings are the oldest road markings type which is largely accepted by the contractors at the work place, because they have retroreflective glass beads characteristics is attracting the applicant. Paint-based marking materials are largely utilised to signify mark parking spaces and travel lanes. Though, lower performance in terms of adhesion to the substrate and less brightness is boosting the demand for the targeted segment. Paint-based road markings are categorized as water-based paints and solvent-based. Solvent-based paints comprise of epoxy, polyurethane, acrylic, and supplementary resins that get dissolved in organic solvents such as ketone and esters. On the other hand, water-based paints are based on polyurethane, acrylic, epoxy, and other resins. Water based paints coating is highly accepted as the holds the characteristics like, they dry faster than solvent-based paints under favorable condition with less human and environmental side effect compare solvent based, however they encompass of low level of organic solvents. In terms of durability water based paints is significantly higher than solvent-based paints.
In March 2018, Ennis-Flint the world’s largest manufacturer and supplier of road marking materials acquired VERNISOL SPA. The key goal for this acquisition is to grow their product portfolio in the European, Middle Eastern and African markets to providing best quality product and service to the customers.
Road Marking Materials Market Regional Analysis:
Regionally, Asia Pacific is censured to account for a leading share of 58.0% by 2027 in the road marking material market, as number of industries and manufacturing activities are increasing in this region with rapid urbanization and industrialization in developing countries like Japan, India and China is also estimated to propel the road marking material market growth in the Asia Pacific Region. As china has largest manufacturing unit, accounted as prominent market driver in the region. China road marking material market was held at US$ XX Bn in 2019 and is anticipated to reach US$ XX.7 Bn during forecasted period. With recorded market share of XX.8% in 2019 likely to, grow at a market share of XX % by the end of 2027.
For the same segment, Europe is expected to dominate the road marking materials market and is expected to grow at CAGR of XX % during the forecast period. Developed European regions are considered major contributors for the road marking materials market growth in the region. In 2019 market size was valued US$ XX Bn in while in U.S, market size was valued XX Bn and expected to increase by US$ XX Bn in coming years.
The objective of the report is to present a comprehensive analysis of the Global Road Marking Materials Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Road Marking Materials Market dynamics, structure by analysing the market segments and project the Global Road Marking Materials Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Road Marking Materials Market make the report investor’s guide.
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Scope of Road Marking Materials Market
Global Road Marking Materials market, By Type
• Performance Based Materials
• Paint Based Materials
• Solvent based
• Cold plastics
• Epoxy based
• Water based
Global Road Marking Materials market, By Application
• Airport markings
• Antiskid marking
• Car park marking
• Factory marking
• Road marking
Global Road Marking Materials Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Road Marking Materials Market,
• Zhejiang Yuanguang
• Geveko Markings
• PPG Industries
• Asian Paints PPG
• Reda National Co.
• Zhejiang Brother
• Luteng Tuliao
• Rainbow Brand
• Swarco AG
• Nippon Paint
• Ennis Flint
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