Global Road Marking Materials Market Size To Exceed USD 9.97 Billion by 2032 | CAGR of 4.5%
Category: Chemicals & MaterialsGlobal Road Marking Materials Market Size To Exceed USD 9.97 Billion by 2032
According to a research report published by Spherical Insights & Consulting, the Global Road Marking Materials Market Size is to grow from USD 6.42 Billion in 2022 to USD 9.97 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.5% during the projected period.
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Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Road Marking Materials Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cold Plastics, Paint Based Marking, Water Based Paints, Solvent Based Paints, Thermoplastics Coating, Performance Based Marking, Others), By Application (Road & Highway Marking, Antiskid Marking, Parking Lot Marking, Factory Marking, Airport Marking, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." https://www.sphericalinsights.com/reports/road-marking-materials-market
Road marking materials are used on paved roadways to direct and teach motorists and pedestrians. Consistent marker placement is crucial for eliminating confusion and enhancing traffic safety. Paints, thermoplastics, two-component resins, and prefabricated road markings, also known as tapes, are the four categories of road marking materials. Paint is the most often used road marking media around the world. Rising spending on roadway safety, as well as new transportation and other infrastructure projects in emerging economies, are the primary drivers of market expansion. Furthermore, rising traffic accidents worldwide as a result of poor road marking are pushing the government to adopt these goods. Furthermore, rising industrialization and higher manufacturing capacities have raised the demand for roadway marking materials. However, one of the key restrictions of the road marking materials market is the conventional posture of road contractors. Furthermore, the longer lifespan of road marking materials has restricted market expansion by increasing maintenance costs. Technological advancements, such as smart road marking systems, are projected to drive the market.
The paint based marking segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global road marking materials market is segmented into the cold plastics, paint based marking, water based paints, solvent based paints, thermoplastics coating, performance based marking, and others. Among these, the paint based marking segment is dominating the market with the largest revenue share of 46.3% over the forecast period. Paint-based marking has grown in popularity due to its widespread use on roads. Furthermore, the low cost of paint is expected to drive this market throughout the forecast period.
The road & highway marking segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of application, the global road marking materials market is segmented into road & highway marking, antiskid marking, parking lot marking, factory marking, airport marking, and others. Among these, the road & highway marking segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Because they are employed on the largest part of the road markings industry, roads and highways, these markings are likely to dominate the market for road marking materials. Furthermore, increasing demand for water-borne thermoplastic coatings for protecting retro-reflectivity markings on roadways and parking spaces/lots is one of the key factors driving the market.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 48.7% market share over the forecast period. The key factor influencing regional expansion is a boost in construction activity in both the public and private sectors. Regional growth will be fueled by the rise of the building sector, as well as several government programs and subsidies that aid construction and infrastructure activities. On the other hand, North America is predicted to expand the fastest during the forecast period. The increased usage of traffic road marking paints is being encouraged by increased residential and commercial infrastructure development. Stringent road safety rules, as well as consumer awareness, will propel the region's road marking materials market forward.
Major vendors in the Global Road Marking Materials Market include Geveko Markings, Sherwin-Williams Company, SWARCO AG, Ennis-Flint, Inc., Evonik Industries, Automack Technologies, SealMaster, PPG Industries Inc., 3M, Asian Paints Ltd, Roadmarking Industry Association of Australia, TATU Traffic Group, Hempel, Nippon Paint Holdings Co. Ltd., Helios TBLUS d.o.o, and among others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Road Marking Materials Market based on the below-mentioned segments:
Road Marking Materials Market, Product Type Analysis
- Cold Plastics
- Paint Based Marking
- Water Based Paints
- Solvent Based Paints
- Thermoplastics Coating
- Performance Based Marking
- Others
Road Marking Materials Market, Application Analysis
- Road & Highway Marking
- Antiskid Marking
- Parking Lot Marking
- Factory Marking
- Airport Marking
- Others
Road Marking Materials Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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