Road Marking Materials Market

GMI Research analysis indicates that the Road Marking Materials Market is slated to register a CAGR of 4.6% over the forecast period, till 2029 attributed to rise in government’s spending on infrastructure projects.

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Key Road Marking Materials Market Drivers

Road marking materials market is majorly driven by increasing focus of governments on improving road safety standards, surge in the number of infrastructure projects in developing countries and increasing urbanization. Number of road accidents in developing countries like India and China are increasing rapidly. As per the data released by the Ministry of Road Transport and Highway of India, around 4,12,432 accidents were reported in the country in 2021, which indicates a 12.6% rise in the number of road accidents on average, as compared to 2020. Bad conditions of roads and reduced visibility of road marking in these countries, are major factors leading to road accidents in these countries. Increasing frequency of road accidents are pushing governments in various countries to improve road conditions and use appropriate road marking materials to reduce such accidents, which is expected to create lucrative growth opportunities for road marking materials market in the coming years.

Increasing technological advancements and the growing applications in the airport of road marking materials is propelling the growth of road marking materials market. Moreover, road marking materials offers several advantages such as long life, brightness, technical superiority, and ease to apply. The growth in GDP and increasing use of road marking materials in commercial and industrial establishments, coupled with rise in the number of construction activities, are supplementing the market growth. Adoption of autonomous vehicles (AVs) will increase in the future, as these vehicles are considered safer and more reliable. Since, road marking help AVs in navigating in roads safely, the demand for road marking materials will rise in forthcoming years. However, various contractors worldwide demand high quality road marking solutions at cheaper rates, which reduces the profit margin of coating manufacturers and certifications required for testing road marking materials in Nordic countries like Sweden and Denmark, are some of the factors restricting the growth of road marking materials market.

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Based on Type, Performance-Based Markings segment is projected to expand at a high rate.

Cold plastic and thermoplastic markings find their application in different areas including highways, pedestrian crossing, and others. In addition, increasing usage of cold plastic across high traffic areas coupled with the properties of thermoplastic, such as increased reflection properties and enhanced durability, are some of the major factors propelling the segment’s growth.

Based on Application, Road & Highway segment is forecast to hold the largest market share.

Road marking materials are increasingly used in roads and highways to provide clear instructions to the drivers which includes warning and information to the road users about situations which are about to come in their way so that they are more aware about their surroundings.

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Based on Region, Asia-Pacific region is estimated to grow at the fastest CAGR.

Asia-Pacific Road marking materials market is driven by increase in the number of traffic rule violations, rising incidences of road accidents, expanding industrial road networks and traffic congestion. Additionally, rapid industrialization and strict regulations imposed by governments to improve road safety, are some of the accelerating the market growth in Asia-Pacific. China is the most populous country worldwide. Currently the Chinese government is planning to expand the highway network in the country by 50% by 2035. As of 2019, the central government estimated 108,600 km of expressway in the country and expansion plan of 160,000 km is in the pipeline.

Top Market Players

Various notable players operating in the road marking materials market are Sherwin-Williams Company, SWARCO, SealMaster, 3M, Ennis Flint, Inc., Geveko Markings, Aximum, Crown Technology, LLC, Rembrandtin, and Ozark Materials, LLC, among others.

 Key Developments: 

• • In October 2022, Ingevity Corporation, a chemical manufacturing company based in United States acquired Ozark Materials for USD 325 million. This acquisition increased company’s earnings per share. Business of Ozark Materials will be added under company’s Performance Chemicals segment.
  • In January 2022 Geveko Markings signed an agreement to acquire Oré Peinture, which is a leading road marking, paints, and safety materials manufacturing company based out of France. Through this acquisition, company plans to expand its footprint French road marking materials market and overall production capacity and assets.
  • In December 2020, Geveko Markings, a major supplier of road marking materials, based out of United States announced the launch of its ViaTherm LongDot Road Marking, which is designed to provide better visibility and improve road safety.
  • In August 2019, BASLER Lacke completed the acquisition of HENELIT Lackfabrik AG, a leading manufacturer of snowboard and ski paints. Through this acquisition, company added Henelit’s ski and paint snowboard paint business under its portfolio.
  • In 2018, 3M and Borum collaborated to improve road safety in China. As a part of their collaboration, both the companies participated in various events to promote the use of profiled and flat high-quality reflective elements and thermoplastic markings.
  • In 2018, Ennis Flint, Inc. announced that it has acquired VERNISOL SPA, manufacturer of hgih quality road safety products. This acquisition helped the company expand its existing road safety portfolio.

Segments covered in the Report:

The global road marking materials market has been segmented based on the type, technology, application, and region. Based on the type, the market is segmented into performance-based markings and paint-based markings. The performance-based markings segment is further categorized into thermoplastic and cold plastic. The paint-based markings segment is further categorized into solvent-based and water-based. Based on the technology, the market is segmented into acrylic-based, epoxy-based, polyurethane-based, and others. Based on the application, the market is segmented into airport marking, road & highway marking, factory marking, antiskid marking, parking lot parking, and others.

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Market Segmentation

Global Road Marking Materials Market by Type

• • Performance-Based Markings
    • Thermoplastic
    • Cold Plastic
  • Paint-Based Markings
    • Solvent-Based
    • Water-Based

Global Road Marking Materials Market by Technology

• • Acrylic-Based
  • Epoxy-Based
  • Polyurethane-Based
  • Others

Global Road Marking Materials Market by Application

• • Airport Marking
  • Road & Highway Marking
  • Factory Marking
  • Antiskid Marking
  • Parking Lot Marking
  • Others

Global Road Marking Materials Market by Region

• • North America Road Marking Materials Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Technology
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Road Marking Materials Market (Option 2: As a part of the free 25% Customization)
    • By Type
    • By Technology
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Road Marking Materials Market (Option 3: As a part of the free 25% Customization)
    • By Type
    • By Technology
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Road Marking Materials Market (Option 4: As a part of the free 25% Customization)
    • By Type
    • By Technology
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Road Marking Materials Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • The Sherwin-Williams Company
  • SWARCO
  • SealMaster
  • 3M
  • Ennis Flint, Inc.
  • Geveko Markings
  • Aximum
  • Crown Technology, LLC
  • Rembrandtin
  • Ozark Materials, LLC