Dublin, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The "Road Marking Materials - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Road Marking Materials Market to Reach $9.3 Billion by 2030
The global market for Road Marking Materials estimated at US$6.2 Billion in the year 2022, is projected to reach a revised size of US$9.3 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2022-2030.
Paint-based Markings, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$5.1 Billion by the end of the analysis period. Growth in the Performance-Based Markings segment is estimated at 6.5% CAGR for the next 8-year period.
The road surface markings market is influenced by various factors and market trajectories. The COVID-19 pandemic has led to funding shortages, impacting road construction projects. Recent market activity indicates dynamic changes in the sector, with a breakdown of market share among key players in the performance-based markings segment in 2020 and projections for 2027, reflecting the competitive landscape of the road surface markings market.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 6.4% CAGR
In the US, there is a demand for significant infrastructure investments from the new administration. Temporary relief has been provided through the extension of the FAST Act, but there is a growing focus on long-term solutions and sustainability reforms.
Road surface markings play a crucial role in guiding pedestrians and drivers for smooth traffic flow. There are different types of road marking materials, including paint-based and performance-based markings. Globally, China's infrastructure overhaul is driving market opportunities.
The Road Marking Materials market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 450 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $6.2 Billion |
| Forecasted Market Value (USD) by 2030 | $9.3 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Rise in Number of Road Accidents and Need for Proper Road Safety Measures Drive the Demand for Road Markings
- Global Breakdown of Number of Vehicles Registered by High-Income, Middle-Income and Low Income Countries
- Global Breakdown of Deaths for Road Accidents by High-Income, Middle-Income and Low Income Countries
- Road Marking Industry Leaps Forward with Inflow of Innovative Technologies
- Laser Markings Technology
- Tactile Black Markings across the Middle Line of the Road to Ensure Traffic Safety
- Opportunities & Challenges with New Liquid Traffic Marking Paints
- Primary Factors Impeding Adoption of Innovative Solutions
- Thermoplastic Coatings Ride High on Diverse Applications & Compelling Advantages
- Growing Use of High-Quality Materials to Improve Mobility and Road Safety
- Regulations Cripple Momentum in Solvent-Based Road Markings Segment
- With Cycling Growing in Popularity Amidst COVID-19 Outbreak, Need for Separate Cycling Lanes to Spur Opportunity for Road Marking Materials
- Growing Emphasis on Lane Departure Warning Widens the Role of Road Markings
- Autonomous Vehicles Elevate the Importance of Road Marking
- Anti-Skid Markings Act as Warning to Road Users
- Road Maintenance and Replacement of Old Markings Create Demand
- Aging Drivers Drive Need for Proper Maintenance and Improved Road Markings
- Comparison of Older and Younger Drivers in Terms of Risk, and Fragility Relative to Adult Drivers
- Infrastructure Investment Patterns Strongly Influence the Market
- Emphasis on Road Network Expansion to Boost Demand
- Urbanization and Ensuing Need for Public Infrastructure to Drive Demand for Road Marking Materials
- Airport Marking Provides an Essential Visual Aid to the Air Traffic
- Impact of COVID-19 on Airlines and Airports
- Parking Lot Marking Gains Traction in Malls, Commercial Buildings & Large Residential Complexes
- Growing Emphasis on Workplace Safety in Factory Environments Bodes Well for Factory Markings
- Steady Rise in Number of Fatal Workplace Injuries Augments Demand for Low-Cost Safety Solutions such as Factory Markings
FOCUS ON SELECT PLAYERS (Total 71 Featured)
- Dow Inc.
- Euragglo S.R.L.
- SWARCO AG
- Hitex International Group
- Asian Paints PPG Pvt. Limited
- Crown Technologies LLC
- Geveko Markings
- Monarch Industrial Products (I) Pvt., Ltd.
- LANINO TRAFFIC MARKINGS
- Alliance Design and Development Group, Inc.
- Aurora Projects Pty Limited
- Intergroup
For more information about this report visit https://www.researchandmarkets.com/r/scz6wt
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