July 26, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Road Marking Materials Market.
It was estimated prior to this unanticipated outbreak that the Road Marking Materials Market is likely to witness an impressive CAGR of 5.1% during the forecast period. The major factor propelling the market for road marking materials is mainly its increasing need for road safety standards owing to rising number of deaths & injuries caused by road accidents. According to the WHO, approximately 1.35 million of people die every year on road accidents and around tens of millions of people get injured or disabled in a year.
Market Scope & Segmentation
Road marking materials can now be defined as the modern materials which are used in place of conventional oil paints used for markings such as dividers, zebra crossing, and bumps on the road; owing to their superior properties such as reflectivity, brightness, and long life.
Road markings can be classified as longitudinal markings, transverse markings, object markings, word messages, marking for parking, marking at hazardous locations for controlling, warning, guiding and informing the road users.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segment Analysis
Based on the product type, the market is segmented as thermoplastics, paints, two-component resins, and tapes. Paints are the oldest and most widely used products for road markings as they are inexpensive and can be applied quickly without any pre-treatment such as heating. Paints can be classified into solvent-borne and water-borne paints.
Based on the application type, the road marking materials market is segmented as roads & highway marking, parking lot marking, factory marking, airport marking, antiskid marking, and others. The roads & highway marking segment dominates the market, as road marking materials are widely used for a large number of applications in roads & highways for providing necessary information and guidance to road users in the form of lines, patterns, words, or objects for controlling, warning, guiding, and informing pedestrians.
In terms of regions, Asia-Pacific is expected to be the dominant as well as the fastest-growing market for road marking materials in the coming five years. The highest growth of the region is attributed to rising number of roadbuilding activities in the region’s emerging economies such as India and China. Increasing government spending in these emerging economies to strengthen their trade routes as well as to recreate their old routes and several other projects is boosting the demand for the road marking materials market in the Asia-Pacific region. North America and Europe are also likely to offer sizeable growth opportunities during the forecast period.
Key Players:
Key players operating in the global Road Marking Materials market are-
- The Sherwin-Williams Company
- Geveko Markings
- Aximum S.A.
- Swarco Holding AG
- Ozark Materials, LLC
- Ennis-Flint Inc.
- SealMaster®
- The 3M Company
- Rembrandtin Lack GmbH Nfg. KG
- Crown Technology, LLC.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Road Marking Materials analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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