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Road Marking Materials Global Market Report 2022
Major players in the road marking materials market are The Sherwin-Williams Company, 3M, Geveko Marking, SWARCO, Ennis Flint, Evonik Industries, Automark Technologies, SealMaster, Kelly Bros Erinline, Ozark Materials LLC, and Hempel.
New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Road Marking Materials Global Market Report 2022" - https://www.reportlinker.com/p06285604/?utm_source=GNW
The global road marking materials market is expected to grow from $5.26 billion in 2021 to $5.52 billion in 2022 at a compound annual growth rate (CAGR) of 5.02%. The market is expected to grow to $7.03 billion in 2026 at a CAGR of 6.23%.
The road marking materials market consists of sales of road marking material products and related services by entities (organizations, sole traders, and partnerships) that refer to any sort of material that is used on a road surface so as to provide authoritative information and to convey clear and understandable information to travelers about the roadway alignment and vehicle positioning.Road marking materials are developed for durability, safety, and aesthetics for traffic control, positive guidance, and communication warnings.
In addition, road markings are standardized to avoid driveway confusion and enhance road safety.
The main types of road marking materials are paint-based marking, solvent-based paints, water-based paints, performance-based marking, thermoplastics, and cold plastics.Paint-based marking materials are specially designed for road marking, drawing parking bay lines, arrows, numbers, and lines.
The various applications of road marking materials are road markings, factory markings, car park markings, airport markings, and anti-skid markings.
Asia Pacific was the largest region in the road marking materials market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The new infrastructure and roadway projects in emerging economies are expected to propel the growth of the road marking materials market.With the increase in road projects, the safety of passengers would become important, driving the consumption of road marking materials.
For instance, according to the IBEF (India Brand Equity Foundation), the Government of India has allocated $14.85 billion to the Ministry of Road Transport and Highways in the Union Budget 2021-22. Also, according to Refinitive, an American-British provider of financial market and infrastructure, in China, in the first quarter of 2020, the value of belt and road projects exceeded $4 trillion. Therefore, new infrastructure and roadway projects in emerging economies are driving the growth of the road marking materials market.
Technological advancements are a key trend gaining popularity in the road marking materials market.For instance, in May 2019, Geveko Markings a Denmark-based manufacturer and distributor of road marking products launched ViaTherm LongDot road marking.
It provides better visibility, noise reduction, and increased road safety. The ViaTherm LongDot has been developed in collaboration with Vejdirektoratet - the Danish Road Directorate – and several of its partners within the highways sector.
In November 2020, PPG, a US-based supplier of paints, coatings, and specialty materials, acquired Ennis-Flint for a deal amount of $1.15 billion. The acquisition of Ennis-Flint is expected to further expand the product offering and opportunities in rapidly developing and high-growth mobility technology solutions. The acquisition would also expand PPG’s product distribution on a global scale. Ennis-Flint is a US-based manufacturer and designer of marking materials and traffic safety products.
The countries covered in the Road Marking Materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06285604/?utm_source=GNW
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