Dublin, Dec. 31, 2020 (GLOBE NEWSWIRE) -- The "Road Marking Materials Market by Type (Performance-based Markings & Paint-based Markings), Application (Road & Highway Marking, Parking Lot Marking, Factory Marking, Airport Marking, and Anti-skid Marking), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
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%
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.
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).
Market Dynamics
Drivers
- Increased Spending on Safer Roads
- New Infrastructure and Roadway Projects in Emerging Economies
- Safer Roads Positively Impact GDP
Restraints
- Conservative Approach of Road Contractors
Opportunities
- Increased Prominence of Road Markings in Lane Departure Warning Systems (Ldws)
- Smart and Autonomous Mobility
Challenges
- Stringent Regulatory Policies Over Solvent-Based Road Markings
- Certifications for Road Markings in Nordic Countries
Porter's Five Forces Analysis
Macroeconomic Indicators
Patent Analysis
Companies Mentioned
- 3M
- Ampere System
- Asian Paints Ppg Pvt. Limited
- Automark Technologies (India) Pvt. Ltd.
- Aximum
- Basler Lacke Switzerland
- Crown Technology, LLC
- Ennis-Flint, Inc.
- Geveko Markings
- Hitex International Group
- Kataline Group
- Kelly Bros
- Kestrel
- Ozark Materials LLC
- Reda National Co.
- Rembrandtin Lack GmbH Nfg. Kg
- Sealmaster
- Swarco Ag
- The Sherwin-Williams Company
For more information about this report visit https://www.researchandmarkets.com/r/17ygw9
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