Road Marking Materials market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Road Marking Materials market by region.
The global road marking materials market is projected to register 5.77% CAGR to reach USD 5,466.5 million by the end of 2027.
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According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
Synopsis of Global Road Marking Materials Market
Road marking materials are the kind of paints used on a surface of the road to convey guidance and information to drivers and pedestrians. Retroreflective glass beads are essential additives used during their manufacturing process to impart reflectivity during the night. These road marking materials are used to mark dividers, center line (single broken line, single solid line, double broken line, or double solid line depending upon the road and traffic requirements), traffic lane lines, no passing zones, warning lines, edge lines, transverse markings ( bumps, stop line, pedestrian crossings, directional arrows), and object marking. There is an increasing spending on road infrastructure observed in the recent years, which is a major market driver. The growth of the global road marking materials market is also influenced by the new roadway projects across the globe.
Furthermore, advances in road-marking systems, such as the technological upgrades, availability of specialized laying equipment and machinery, and availability of tools and machinery from the same market players are expected to largely boost the market growth. These factors are also expected to provide strong growth opportunities to the market players. However, stringent environmental regulations on solvent-borne road marking materials and the high cost of raw materials are expected to hamper the growth of the market during the forecast period.
On the basis of type, the market has been segmented into thermoplastic paint markings, two-component (cold plastic) paint markings, solvent-based paints, water-based paints, and others. The thermoplastic paint markings segment accounted for the largest market share of 32.3% in 2017. The segment was valued at USD 1,271.0 million in 2017; it is expected to register a CAGR of 6.13% to reach USD 1,806.9 million by the end of 2023. The growth is attributed to the superior durability, wear and abrasion resistance, and eco-friendly nature of thermoplastic paints markings compared to other types of road marking materials. Solvent based marking paint segment accounted for the second-largest share of the global road marking materials in 2017 and is expected to register a CAGR of 4.30% to reach to USD 1,208 million by the end of 2023.
By application, the global road marking materials market has been segmented into roads & street, parking lots, airports, and others. The roads & streets segment accounted for the largest share of 55.3% in 2017 due to the large-scale usage of road marking materials on roads & streets for marking center lines, traffic lane lines, warning lines, edge or border lines, bicycle paths, walkway solutions for the visually impaired, pedestrian crossings, transverse markings on bumps, directional arrows, and word messages. The segment was valued at USD 2,176.5 million in 2017; it is expected to grow at a CAGR of 6.09% during the review period. Parking lot segment accounted for the second largest share of the global road marking materials and is expected to register a CAGR of 5.68% to reach to USD 936.1 million by end of 2023.
One of the key trends noticed among market players includes acquisitions, capacity expansions, and product innovation. For instance, in May 2018, Hempel signed agreement to acquire 65% of JW Ostendorf (JWO), Germany’s leading manufacturers of decorative paint. Also, in April 2018, another key player, Swarco AG acquired majority shareholding in in Bergauer Holding AG, a Switzerland-based company which is integrated traffic guidance and control system developer.
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The global road marking materials market has been analyzed across five key regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
The Asia-Pacific market dominated the global market with a share of 39% in 2017 and is expected to register a high CAGR of 6.69% during the forecast period. This is attributed to the increasing spending on road infrastructure as a part of the overall regional development. According to the World Economic Forum, Singapore is ranked at the top in Asia and second globally, in terms of road infrastructure, in the period 2017-2018. The country has allotted USD 20 billion in its budget 2018 for infrastructural projects, where road infrastructure held the prominent position. Hong Kong SAR, Japan, Taiwan, South Korea, and Malaysia, which have equally well-maintained roads, ranked 4, 6, 11, 12, and 23, respectively, in the World Economic Forum ranking. Australia and New Zealand ranked 35 and 40, respectively. China is ranked 42 in the world road quality rankings; the country is witnessing increased spending on road infrastructure in recent years to support its growing economy. In Asia-Pacific region, China accounted for the largest market share, and was followed by India and Japan.
The North American market was the second-largest valued at USD 922.3 million in 2017 and is projected to exhibit a CAGR of 4.90% in the coming years. The US held a significant market share of 77% in 2017 and is expected to register 4.78% CAGR by the end of 2023. On 12 February 2018, the US president Donald Trump proposed USD 200 billion infrastructure plan to improve aging roads, bridges, and tunnels across the country.
The market in Europe held a significant market share of 22% and is expected to reach USD 1,094.5 million by the end of 2023 owing to the increased spending on infrastructure development such as bridges and tunnels. Germany accounted for the largest market share of 26% in 2017, followed by France and Spain. According to the European Commission, the government of Germany earmarked USD 4.4 billion in investment for roads and bridges. The government of France is also planning to substantially boost funds for the maintenance and modernization of national roads.
The Middle East & African market was valued at USD 350 million in 2017 and is expected to register a CAGR of 6.39% during the forecast period. The Middle East countries held the largest market share of 67% in 2017 owing to the increase in construction spending.
The South American market was valued at USD 287 million in 2017 and is expected to exhibit a steady CAGR of 5.89% during the review period. Brazil dominated the regional market and is expected to register a healthy CAGR of 5.82% during the forecast period.
The global road marking materials market has been segmented on the basis of type, application, and region.
Based on type, the global market has been segmented into thermoplastic paint markings, two-component (cold plastic) paint markings, solvent-based paints, water-based paints, and others.
Based on application, the global market has been segmented into roads & street, parking lots, airports, and others.
The global road marking materials market has been analyzed across five major regions, namely North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
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Some of the key players operating in the global road marking materials market are 3M (US), Sherwin-Williams (US), Swarco AG (Austria), Nippon Paint Holdings Co. Ltd (Japan), Ennis-Flint Inc (US), Hempel (The Netherlands), Geveko Markings (Sweden), PPG Industries, Inc. (US), Asian Paints Ltd (India), SealMaster (US), Lanino (South Africa), Reda National Co. (Saudi Arabia), TATU Traffic Group (China) Zhejiang Brother Guidepost Paint Co Ltd (China), and Helios Group (Slovenia).
The report covers a brief analysis of geographies including:
? North America
o Rest of Europe
o Australia & New Zealand
o South Korea
o Rest of Asia-Pacific
? South America
o Rest of South America
? Middle East & Africa
o Middle East
? As per MRFR analysis, the global road marking materials market was valued at USD 3925.9 million in 2017 and is estimated to reach USD 5,466.5 million by 2023 at a CAGR of 5.77% during the forecast period.
? The thermoplastic marking paint type has emerged as the most promising segment, acquiring 32% of the global market in 2017; it is estimated to register a high CAGR of 6.13% during the forecast period.
? The roads & streets application segment accounted for a 55% share of the global market and is projected to be the major revenue-generating segment, exhibiting a moderate CAGR of 6.09% during the forecast period.
? Asia-Pacific accounted for around 39% of the global market share in 2017 and is expected to register a CAGR of 6.69% to reach to USD 2,242.5 by end of 2023.
? The construction of new roadways across the world is expected to boost the demand for road marking materials to provide driving guidance and maintain the flow of traffic.
? Road marking materials manufacturers
? Raw material suppliers
? Traders and distributors of road marking materials
? Production process industries
? Potential investors
? Government bodies
DC ? Description
? pavement marking tapes
? thermoplastic paint marking
? marking materials
? road marking
Table of Contents:
Executive Summary Market Structure Market Restraints Market Factor Analysis Company Profiles
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Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
The Study Explore COVID 19 Outbreak Impact AnalysisWhat should be entry strategies, countermeasures to economic impact, and marketing channels? What are market dynamics? What are challenges and opportunities? What is economic impact on market? What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
The study objectives of this report are:To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2025. To understand the structure of market by identifying its various subsegments. To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the growth trends, future prospects, and their contribution to the total market. To project the value and volume of submarkets, with respect to key regions (along with their respective key countries). To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. To strategically profile the key players and comprehensively analyze their growth strategies.
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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
What is the goal of the report?
- The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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