Newark, July 26, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global road marking materials market will grow from USD 6.60 Billion in 2023 to USD 10.44 Billion by 2033. Several factors come into play when choosing road marking materials, including performance targets, budget constraints, ecological implications and legal regulations. Engineers and transportation authorities must evaluate the pros and cons of different options based on criteria such as longevity, reflectivity levels at night conditions, techniques employed during installation and upkeep demands to enhance the efficiency and sustainability of markings. Material science and manufacturing advancements continuously fuel innovation in road marking materials.
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This progress led to creating next-generation solutions focused on improved performance, sustainability, and environmental impact mitigation. These advanced materials range from self-repairing coatings capable of fixing surface damage to eco-friendly formulations sourced from renewable resources. The progression observed within this field reveals a shared goal among engineers committed to meeting modern transportation infrastructure needs while minimizing ecological footprints.
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Base Year | 2023 |
| Market Size in 2023 | USD 6.60 Billion |
| Market Size in 2033 | USD 10.44 Billion |
| CAGR | 4.7% |
| No. of Pages in Report | 238 |
| Segments Covered | Type, Application and Regions |
| Drivers | Ongoing Expansion and Modernization of Transportation Infrastructure |
| Opportunities | Increasing Emphasis on road Safety |
| Restraints | Volatility Associated with the Raw Material Prices |
Key Insight of the Road Marking Materials Market
North America region is expected to hold the second largest market share during the forecast period.
During the forecast period, North America is expected to hold the second largest market share within the global road marking materials market. The North America region will significantly expand. Robust infrastructure investments, regulatory initiatives, and technological advancements make North America an important market for road marking materials. The region has a vast network of highways, freeways, and urban streets that require regular maintenance and repair to adhere to safety protocols and compliance standards. This aspect creates a high-demand situation in the North American market for road marking materials, driven by various factors such as road rehabilitation projects, trends in urbanization, and other regulatory requirements.
The performance-based markings segment is expected to grow at the highest CAGR during the forecast period.
The type segment includes performance-based markings and paint-based markings. The performance-based markings segment is expected to grow at the highest CAGR during the forecast period. Thermoplastic materials are expected to grow significantly due to their unique properties, which include outstanding reflectivity, durability, and longevity. These substances form robust bonds with pavement surfaces through high-temperature heating before being applied as molten liquids that solidify upon cooling. The resulting marks demonstrate superior resistance against wear and tear from traffic abrasion or weather changes, making them highly desirable in busy metropolitan streets and highways requiring excellent visibility and long-term endurance. Compared to conventional paint-based markings, thermoplastic markings provide many benefits, such as prolonged durability, superior retro-reflectivity and decreased upkeep demands. This aspect ultimately results in reduced life cycle expenses and heightened safety outcomes.
The airport marking experience segment is expected to grow at the highest CAGR during the forecast period.
The application segment includes airport marking, road marking, factory marking, car park marking and others. The airport marking experience segment is expected to grow at the highest CAGR during the forecast period. The airport marking segment is growing substantially due to its essential role in promoting secure and efficient airfield activity. Runway markings, taxiway markers, apron indicators, and signs are indispensable in guiding aircraft movement while preventing collisions and aiding pilots and ground staff members with navigation. As passenger demand continues to rise globally, coupled with expanding cargo transport networks, high-quality road-marking products will be increasingly required for airport duties. Manufacturers/suppliers are taking advantage by creating specialized solutions that conform to strict regulatory demands; they also withstand adverse environmental conditions whilst assuring optimal visibility/longevity regarding runway markers on airfields.
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Recent Developments:
• In January 2023: Oré Peinture, a French manufacturer of safety supplies and road marking paint, was acquired by Geveko Markings and put into operation. As a result of the transaction, Geveko Markings' operations, total assets, and production capacity were increased in France.
Market Dynamics
Driver: Increasing Regulatory Initiatives and Government Policies
The worldwide implementation of government policies and regulatory initiatives that promote road safety, mobility, and sustainability is significantly influencing the market trends in the global road marking materials market. These regulations require the utilization of advanced technologies and high-performance road marking materials to enhance driving safety and decrease traffic congestion. This factor is boosting the market growth and development.
Restraint: Economic Downturns
Economic downturns, market uncertainty, and geopolitical instability can affect investment decisions and infrastructure spending. This aspect can ultimately impact the demand for road marking materials. It can disrupt construction projects or delay infrastructure investments due to currency fluctuations and trade disputes caused during recessions or conflicts. Reducing government transportation budgets further adds to this challenge of revenue volatility that may pose financial challenges to manufacturers and suppliers involved in providing these essential products. This factor is anticipated to hamper the market growth and development.
Opportunity: Technological Advancements
Technological advancements and innovations in materials fuel the expansion and diversification of the road marking market. Manufacturers use nanotechnology, additive manufacturing, and material science developments to create high-performance next-generation road marking products. Retroreflective micro-prismatic technology has significantly improved reflective road markings, revolutionizing visibility and safety under low-light conditions. This factor is anticipated to have a positive impact on the market growth and development.
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Some of the major players operating in the Road Marking Materials Market are:
• Sherwin Williams Company
• Geveko Marking
• Evonik Industries
• Automack Technologies
• Ozark Materials LL
• Ennis Flint
• Roadmarking Industry Association of Australia
• Swarco Limburger Lackfabric GmbH
• Aximum SA
• Kelly Bros Erinline
Key Segments Cover in the Market:
By Type:
• Performance-based Markings
• Paint-based Markings
By Applications:
• Airport Marking
• Road Marking
• Factory Marking
• Car Park Marking
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
About The Brainy Insights:
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