Global Road Marking Materials Market Shows Substantial Growth

  • Increasing adoption of road safety measure can drive the market growth.
  • Conservative approach of road contractors is restraining the market growth.
  • Technological advancements such as intelligent road marking systems can drive the market growth.

Global road marking materials market is expected to register a substantial CAGR of 6% in the forecast period of 2019-2026. The high growth of this market is due to the fast pace rise in infrastructure development projects, in developing countries like China, India.

Market Definition: Global Road Marking Materials Market

Road surface marking is any sort of gadget or material that is utilized on a road surface so as to provide authority information. They can likewise be applied in different offices utilized by vehicles to mark parking spaces or assign zones for different uses. Road Marking Paint is a sort of paint used to paint road mark. Paint, with added substances, such as, retroreflective glass globules, is commonly used to mark travel paths. It is additionally used to mark spaces in parking areas or specific reason spaces for crippled parking, stacking zones, or time-restricted parking zones. Colours for these applications fluctuate by region.

Market Drivers:

  • Increasing adoption of road safety measure can drive the market growth.
  • Increased spending for safer roads and new infrastructure for roads can boost the market growth.
  • Low cost of paints can also increase the market growth.
  • Technological advancements such as intelligent road marking systems can drive the market growth.

Market Restraints:

  • Conservative approach of road contractors is restraining the market growth.
  • Life expectancy associated with road marking materials has hindered the growth.
  • Stringent regulatory policies over solvent-based road markings may hampers the market growth.

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Key Developments in the Market:

  • In March 2018, Ennis-Flint the world’s largest manufacturer and supplier of road marking materials acquired VERNISOL SPA. The main aim for this launch is to expand their product portfolio in the European, Middle Eastern and African markets by along with providing best quality product and service to the customers.
  • In February 2017, Hitex which is a global provider of road safety and surfacing solutions launched Puma road of modified MMA (methyl methacrylate) surfacing and marking range. The main aim from this launch to provide a quicker and easier material to apply in roads that has the potential to speed up highway works and reduce traffic congestion.
  • Competitive Analysis:

Global road marking materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of road marking materials market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the global road marking materials market are The Sherwin Williams Company, Geveko Marking, AXIMUM, KELLY BROS., SWARCO, Ozark Materials, LLC., Ennis Flint, Roadmarking Association of Australia, Evonik Industries, Automack Technologies, Crunchbase Inc., SealMaster®, Geveko Markings, 3M, Nippon Paint (India) Company Limited., PPG Industries, Reda National Co. among others.

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Rashi Pande

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