Global Road Marking Materials Market to touch USD 9.8 BN By 2025
Posted On June 18, 2019
Value Market Research reveals that the Global Road Marking Materials Market was valued USD 6.8 BN (by revenue) in 2018 and is anticipated to reach USD 9.8 BN by 2025 with a CAGR of 5.3% during the year 2019-2025. Road marking materials are generally used for marking on the roads such as zebra cross, divider, bumps, etc. The purpose of road markings is to guide and manage traffic on the road. Road marking materials are formulated using various chemicals products such as paint based materials, polyurethane, performance-based materials, and thermoplastics. The road marking materials can be classified as longitudinal markings, object markings, transverse markings, marking for parking, word messages, etc. Marking are also used to warn driver regarding the hazardous locations ahead. Hence, they are crucial in order to ensure smooth, safe, and harmonious flow of the traffic and also assist safe pedestrian crossing.
A rising issue like traffic congestion, road accidents, and traffic violation is basically fueling the demand for road marking materials. Regulatory bodies and regional government are implementing rules and regulations in order to address road safety issues are again propelling market growth. The ongoing modernization of infrastructure is creating a space for the development of safe road network hence, this is further expected to favor market growth. Moreover, rising usage of road marking materials in a lane departure warning system (LDWS) is also expected to create enormous demand for the product over the forecast period.
The report "Global Road Marking Materials Market Report By Type (Paint Based Materials, Epoxy based, Polyurethane, Water-based, Solvent-based, Performance-Based Materials, Thermoplastics, and Cold plastics), Application (Road Marking, Factory Marking, Car Park Marking, Antiskid Marking, Airport Markings, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" unveil market-related information such as estimation, forecast, market dynamic, segmentation, regional analysis, and competitive dashboard.
The market of marking material has been segmented based on type, application, and region. Type segment has been classified into paint based materials, epoxy based, polyurethane, water-based, solvent-based, performance-based materials, thermoplastics, and cold plastics. Paint based materials are gaining traction in the market as they are inexpensive and possess exceptional adhesives properties. The application segment has been fragmented into road marking, factory marking, car park marking, antiskid marking, airport markings, and others. Road marking segment is dominating and is likely to maintain its dominance over the forecast period. This can be attributed to the rising number of road accidents and traffic congestion issues. Also, rising government interest in the implementation of rules in order to develop a safe road network is further fuelling segment growth. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. Currently, Asia-Pacific is ruling the global road marking market owing to the rapid development of infrastructure along with the rising need to address issues related to road safety in the region.
The Report Segments Global Road Marking Materials Market -
Car Park Marking
Middle East & Africa
Players Profiled In The Report:
Automack Technologies, Aximum SA, Ennis Flint, Evonik Industries, Geveko Marking, Kelly Bros Erinline, Ozark Materials LLC, Roadmarking Industry Association of Australia, Sherwin Williams Company, and Swarco Limburger Lackfabric GmbH.
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