Road Marking Materials Market Size | Uses, Price, Growth, Key Players, DevelopmePosted by Rishab Gupta on March 24th, 2020 Market Overview Road marking materials are used to assist motorists and vehicle drivers in navigating roads safely. Development of roads is expected to induce the demand for road marking materials which can be used in denoting detours, parking areas, and separate traffic lanes for different vehicles. Road Marking Materials Market Size is estimated to touch a valuation of USD 5,466.5 million by 2023, as per the latest report by Market Research Future (MRFR). It was valued at USD 3,925.9 million in 2017. Increased spending on road infrastructure is the primary driver of the market. New road development projects can facilitate the market in expanding at 5.77% CAGR over the forecast period (2018-2023). Advances in road marking systems and availability of laying equipment are other factors which can foster market growth. But strict regulations regarding the use of certain chemicals can pose a challenge to the market. Segmentation Overview The road marking materials market is segmented by type and application. By type, it is segmented into waterbased marking paint, solvent based marking paint, two-component (cold plastic) road marking paint, thermoplastic marking paint, and others. Major applications in the road marking materials market include airport, parking lot, roads & streets, and others. Regional Overview Based on regions, the road marking materials market is segmented into South America, North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The APAC region is projected to exhibit a humongous CAGR owing to the increased budget on road development projects by countries such as Singapore, China, and India. The emphasis on road safety to bring down the collision rate among vehicles is expected to bolster the demand for road marking materials in the region. Competitive Landscape Key players in the road marking materials market report include 3M (U.S.), Sherwin-Williams (U.S.), Swarco AG (Austria), Nippon Paint Holdings Co. Ltd. (Japan), Ennis Flint Inc. (U.S.), Hempel (The Netherlands), Geveko Markings (Sweden), PPG Industries Inc. (U.S.), Asian Paints Ltd. (India), SealMaster (U.S.), LANINO (South Africa), Reda National Co. (Saudi Arabia), TATU Traffic Group (China), Zhejiang Brother Guidepost Paint Co. Ltd. (China), and Helios Group (Slovenia). Research Methodology Research analysts at Market Research Future (MRFR) bank on their impeccable methodologies and nuanced skills to deliver the outstanding report. These tactics follow the parameters that would allow a reliable understanding of the relevant industry. The research methodology includes primary and secondary methods. The primary method comprises data gathered from interviews and discussions with the market doyens and expert analysis of the same. The secondary method has two approaches; top-down and bottom-up that provides a holistic view of the industry. This assists in having an excellent overview of the industry for a better prediction of the market in the foreseeable future. Furthermore, a detailed analysis of the market trends, factors, and inputs from the market gurus enriches the report. Analysis Period
For the scope of the report, the road marking materials market is segmented in the following manner Type
Application
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