United States, Rockville MD, June 28, 2022 (GLOBE NEWSWIRE) -- The global Road Marking Paints and Materials Market is valued at US$ 5.6 Bn in 2021 and is expected to reach US$ 12.2 Bn by 2032, expanding at a CAGR of 6.5% between 2022 and 2032. According to Fact.MR, market research and competitive intelligence provider, global road marking material consumption has increased at a CAGR of roughly 5.1% between 2017 and 2021.
Road markings are utilized to provide users with continuous, clear, and intelligible information on roadway alignment, and vehicle placement, among other information. Road Marking Paints and Materials are designed for durability, safety, and beauty in order to manage traffic, provide positive counsel, and transmit warnings.
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Road markings are generally considered as playing a vital role in ensuring and increasing global road safety. Their performance, on the other hand, is governed by two important factors: the substance used in road markings and the weather conditions.
Night-time Road Marking Paints and Materials become more necessary in cold and wintry conditions. Snow-load safety in the Nordic countries impacts road marking manufacture in some EU nations up to some extent. To improve road safety, Road Marking Paints and Materials in Denmark, Norway, and Sweden were verified for their durability in the frigid and cold Nordic climate by the transport authorities of those countries. These factors limit manufacturers of Road Marking Paints and Materials.
Among paint producers, Sherwin Williams, Ennis Flint, Gevoko Markings, and others are targeting road marking markets in Asia Pacific, using their sales of products in this area to represent 37.9% of the market. The region is expected to dominate worldwide markets during the projection period, owing to smart city efforts, new road building and maintenance projects, greater use of high-quality materials, and increased government attention on road safety.
What are the regional insights of the market for Road Marking Paints and Materials?
Road Marking Paints and Materials are expected to increase in value in the Asia Pacific throughout the upcoming forecast period, primarily as a result of increasing utilization of these materials in civil construction projects.
Factors such as increasing demand for safer roads and government investment in the production of such materials are the main reason for increasing road marking use in Asia Pacific. These factors are projected to boost sales of Road Line Marker Paints and Materials in the Asia Pacific region during the forecast period.
In North America and Europe, increased highway safety requirements and regulatory limitations have raised market demand. Furthermore, skid-resistant technologies have emerged as potential market drivers in these nations. Rapid industrialization is also expected to boost market demand in developing markets such as China, India, and Japan.
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Key Segments Covered in the Road Marking Paints and Materials Industry Survey
- By Type :
- Paint Based Materials
- Performance-Based Materials
- Paint Based Materials
- By Application :
- Road and Highway Marking Paint
- Pavement Marking Paint
- Parking Lot Marking Paint
- Factory Marking Paint
- Airport Marking Paint
- Field Marking Paint
- Other Applications
- Road and Highway Marking Paint
- By Region :
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America
Competitive Landscape
The global Road Marking Paints and Materials market is fragmented and intensely competitive for major competitors. To retain their positions, key market actors are emphasizing the quality of their products while releasing new things more often. Sherwin Williams Company, Geveko Marking, Aximum SA, Kelly Bros Erinline, Swarco Limburger Lackfabric GmbH, Ozark Materials LLC, Ennis Flint, Roadmarking Industry Association of Australia, Evonik Industries, and Automack Technologies are some of the top market players in the global Road Marking Paints and Materials market.
- Product innovation is a defining feature of the global industry. Top composite-based sports goods manufacturers are focusing on mergers and acquisitions as well as capacity growth. Some of the key developments in Road Marking Paints and Materials market include:
- In October 2021, Swarco, an Austrian transportation technology company announced the acquisition of Hitex, a road marking material provider. With this acquisition, Swarco expects to enter the Road Marking Paints and Materials market in the U.K.
- In January 2021, A European private equity firm THI Investments announced that it has gained a majority stake from WJ Group, a provider of specialty highway goods and services including Road Marking Paints and Materials.
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Key players in the Road Marking Paints and Materials Market
- Sherwin-Williams Company
- Aximum
- 3M
- Ennis-Flint, Inc.
- Swarco Ag
Key Takeaways from Road Marking Paints and Materials Market Study
- Revenue of Road Marking Paints and Materials market is expected to reach a valuation of US$ 12.2 Bn by 2032
- Revenue through paint-based marking is projected to grow at a CAGR of 7% during 2022 – 2032
- Market revenue through roads and highways application is expected to grow at a CAGR of 7.3%
- In 2021, the U.S. accounted for around 50% of the Road Marking Paints and Materials revenue
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