Any device or material used on a road surface to transmit authoritative information is referred to as road surface markings. In offices that employ autos, they can also be utilized to identify parking spaces or establish discrete zones for different activities.
The pandemic is predicted to have a substantial influence on numerous elements of the road marking materials value chain, with the most noticeable effects occurring between 2020 and 2021. The following are some of COVID-19's effects:
Impact on new facility construction: The global implementation of COVID-19 lockdowns has caused numerous delays in various construction projects around the world. For example, due to travel restrictions and lockdowns in Southeast Asia, the construction of China's Silk Route, a high-investment project, has been delayed significantly. The construction industry's middle market and large businesses, on the other hand, will benefit from relief measures.
The road and highway marking segment is expected to lead the road marking materials market.
In 2020, road and highway markings are expected to account for the majority of the road marking materials market. Because they are used on the largest part of the road markings industry, which is roads and highways, these markings are expected to dominate the road marking materials market. Road and highway markings are expected to lead the road marking materials market during the forecast period as a result of this aspect.
The performance-based segment is likely to hold highest share
The performance-based segment is expected to increase at the fastest rate in the coming years. Performance-based marks are divided into two categories: thermoplastics and cold plastics. These subtypes of performance-based road markings provide benefits such as greater durability, the absence of VOC components, and good reflecting qualities, as well as the requirement for a longer road markings life. As a consequence of these reasons, performance-based markings are expected to grow in the type sector of the road marking materials market.
Asia Pacific is predicted to increase at the quickest rate throughout the projection period.
Throughout the projection period, Asia Pacific is expected to be the fastest-growing market for road marking materials. During the forecast period, factors such as rising demand for safer roads and higher civil construction investment would encourage the use of road marking materials in the Asia Pacific region. Over the forecast period, these factors are expected to boost demand for road marking materials in Asia Pacific.
Signage on the Road sign paint is a type of paint that is used to create road signs. To identify travel lanes, paintings with extra substances such as retroreflective glass globules are commonly utilized. It's also used in parking lots to mark special places for specific reasons, such as disability parking, stacking zones, or time-restricted parking zones. Colors for these applications differ depending on where you are.
The need for road marking materials has increased as a result of rapid industrialization and increased production capacity. Because of its widespread use on highways, paint-based marking has gained in popularity. Throughout the projected period, the Road Marking Materials Market is expected to develop due to rising demand for water-based paints. Thermoplastics and cold plastics are examples of performance-based indicators. Thermoplastics are a popular choice for road markings. This would help the global market for road marking materials develop.
Road marking materials can be used as an alternative to traditional oil paints for dividers, zebra markings, bumps, and other road markings. On streets, berms, highways, curbs, driveways, sidewalks, parking lots, and airfields, road marking materials provide visible signs. Performance-based and paint-based markings are the two types that are commonly used. Road marking material is a popular product among government and private users due to its technical dominance, long life, lustre, reflective properties, and wide range of applications. The markings are standardized to improve road safety and prevent driveway confusion. A road marking project is a technique for applying road markings. Road traffic fatalities and injuries are increasingly being recognized as a serious problem.
The global road marking materials market was accounted for 5.97 USD billion in 2018. Furthermore, the market is expected to grow at a 5.11 percent compound annual growth rate (CAGR) from 2018 to 2028, reaching $8.05 billion in 2028.
Users may rely on road markings to give consistent, clear, and intelligible information regarding highway alignment, vehicle placement, and other issues. To control traffic, give good advice, and express warnings, road marking materials are developed for longevity, safety, and attractiveness.
Sherwin Williams, Ennis Flint, Gevoko Markings, and other companies are concentrating on providing complete road marking solutions, which include paints, line striping equipment, and stencils. With a market share of 37.9%, Asia Pacific continues to lead the global road marking materials industry. Due to smart city efforts, new road building and maintenance projects, greater use of high-quality materials, and increased government attention on road safety, the area is predicted to dominate global markets throughout the projection period.
Companies that supply marking solutions are increasingly targeting lane markings, road works markings, bike path markings, construction zone markings, airport markings, parking lot markings, indoor markings, racing track markings, play area and school yard markings, and other application sectors. Traffic marking, with a market share of 62.4 percent in 2020, dominates the global market.
The cautious attitude of road contractors is hampering the market for road marking products. Several road contractors favour low-cost, basic materials, while others need high-performance solutions at cheap pricing. Contractors' approach lowers paint manufacturer margins, causing the road marking materials industry to decline.
In the future, autonomous mobility may provide an opportunity for road marking materials. Commuters driving vehicles are guided by properly installed and maintained road markings. Road markings assist autonomous vehicles in navigating roadways in a safe and reliable manner. According to EuroNAP, autonomous vehicle technology is most effective when road markings and traffic signals are used. Vehicles in the LEVEL 1 to LEVEL 4 categories rely heavily on road markings to function effectively on the road. Road markings are thought to play an important role in ensuring and improving road safety around the world. However, the qualities of the material used in road markings, as well as the weather conditions, have a significant impact on their effectiveness. These considerations become considerably more important in the Nordic areas or at night. The usage of studded tyres and winter maintenance in the Nordic nations needs different criteria for road marking materials during colder winters than in the rest of the European Union. The transport authorities of Sweden, Denmark, Norway, and Iceland created a certification system for road marking material to measure its performance in the cold and harsh Nordic environment in order to improve road safety.
The Sherwin Williams Company, AXIMUM, KELLY BROS., Geveko Markings, SWARCO, Ennis Flint, Ozark Materials, LLC., Roadmarking Association of Australia, Automack Technologies, Evonik Industries, Crunchbase Inc., SealMaster®, Nippon Paint (India) Company Limited., Geveko Markings, 3M, PPG Industries, Reda National Co., are the major players in the market.
- Geveko Markings declared the ViaTherm LongDot road marking in December 2020, which reduces noise, increases visibility, and improves road safety.
- Basler Lacke purchased HENELIT's HENESPORT ski and snowboard Paint Company in July 2019. This acquisition fits in well with the company's ambition to enter niche markets due to its extensive experience, extraordinary commitment, and high level of technical expertise.
Road Marking Material Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 8.05 billion|
|Growth Rate||CAGR of 5.11 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||The Sherwin Williams Company, AXIMUM, KELLY BROS., Geveko Markings, SWARCO, Ennis Flint, Ozark Materials, LLC., Roadmarking Association of Australia, Automack Technologies, Evonik Industries, Crunchbase Inc., SealMaster®, Nippon Paint (India) Company Limited., Geveko Markings, 3M, PPG Industries, Reda National Co.,|
Road Marking Material Market Segmentation
Type Overview, 2018-2028 (USD Billion)
- Paint-based Marking
- Solvent-based paints
- Water-based paints
- Performance-based Marking
- Cold Plastics
Application Overview, 2018-2028 (USD Billion)
- Road & Highway Marking
- Antiskid Marking
- Parking Lot Marking
- Factory Marking
- Airport Marking
- Others (Playground, Sports Court, and Other Facility Markings)
Regional Overview, 2018-2028 (USD Billion)
- Asia Pacific
- North America
- Middle East & Africa
- South America