Road Marking Materials

Road Marking Materials

Global Road Marking Materials Market to Reach US$9.3 Billion by 2030

The global market for Road Marking Materials estimated at US$6.5 Billion in the year 2023, is expected to reach US$9.3 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030. Roads & Highways Application, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the Factory Application segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.4 Billion While China is Forecast to Grow at 6.5% CAGR

The Road Marking Materials market in the U.S. is estimated at US$1.4 Billion in the year 2023. 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 6.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.6% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.

Global Road Marking Materials Market - Key Trends & Drivers Summarized

Road marking materials play a crucial role in ensuring road safety and efficient traffic management. These materials are used to delineate lanes, guide drivers, and provide vital information on the road. Various types of road marking materials are available, including paint, thermoplastic, preformed polymer tape, and epoxy. Paint is the most commonly used material due to its low cost and ease of application, although its durability is limited. Thermoplastic, on the other hand, offers a longer lifespan and better visibility, especially in adverse weather conditions, making it ideal for high-traffic areas. Preformed polymer tapes are highly durable and reflective, providing excellent visibility at night and in wet conditions, while epoxy is known for its strong adhesion and resistance to wear, making it suitable for industrial applications.

The application and performance of road marking materials depend significantly on the composition and the method of application. Paints used in road markings are typically solvent-based or water-based, with the latter being more environmentally friendly. Thermoplastic materials consist of a mixture of pigments, glass beads, and binders, which are heated and applied in a molten state. This method allows for the incorporation of reflective glass beads, enhancing night-time visibility. Preformed tapes are applied using adhesives and are known for their quick application and long-lasting performance. Additionally, advancements in road marking technology have led to the development of more durable and eco-friendly materials, such as cold plastics and polyurea, which offer superior wear resistance and longevity.

The growth in the road marking materials market is driven by several factors, in particular the increasing focus on road safety and introduction of new standards and guidelines by countries. The market is slated to gain from ongoing efforts by governments to form comprehensive policies to maintain road markings and reduce the number of accidents. Increasing urbanization and the expansion of road networks globally necessitate the need for effective road marking solutions to manage the growing traffic. The rise in road construction and maintenance activities, especially in emerging economies, further fuels the demand for durable and high-performance road marking materials. Technological advancements, such as the development of reflective and smart road markings that enhance visibility and safety, are also significant growth drivers. Moreover, stringent government regulations and standards aimed at improving road safety and reducing accidents compel the adoption of high-quality road marking materials. Additionally, the growing focus on sustainability and the environment has led to the adoption of eco-friendly marking solutions, such as water-based paints and thermoplastic materials with lower emissions, further boosting market growth.

Select Competitors (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

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