What is the Historic and Current Scenario of the Road Marking Materials Market?
The road marking materials market has seen considerable growth due to a variety of factors.
• In recent years, the market size for road marking materials has seen significant expansion. The market is projected to swell from $6.38 billion in 2024 to $6.85 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%.
The escalation during the historic period can be attributed to several factors including road safety regulations, development in transportation infrastructure, urban growth and population increase, maintenance and refurbishment activities, advancements in road marking materials technology, and environmental considerations.
What are the Forecasted Growth and Key Factors of the Road Marking Materials Market?
The road marking materials market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for road marking materials is anticipated to experience robust growth in the forthcoming years. By 2029, it is predicted to reach a value of $9.37 billion, growing at a compound annual growth rate (CAGR) of 8.1%.
The projected expansion during the forecast period is linked to the use of innovative road marking materials suitable for autonomous vehicles, high-visibility and reflective road markings, environment-friendly and sustainable materials, the incorporation of the Internet of Things (IoT) in road markings, advanced materials resistant to weather changes, and specially designed road markings for managing traffic. Key trends expected in this period are energy-efficient, solar-powered road markings, 3D and interactive markings, anti-slipping and anti-freezing road marking materials, adjustable lane markings for controlling traffic, RFID-integrated road markings for smart toll collection, and the utilization of augmented reality for navigation via road markings.
What Main Forces Are Fueling Expansion In The Road Marking Materials Market?
The surge in roadway and infrastructure projects in developing economies is anticipated to boost the road marking materials market growth. As road projects multiply, passenger safety becomes increasingly crucial, thereby enhancing the demand for road marking materials. For example, in February 2024, the Infrastructure and Projects Authority, a governmental body in the UK, reported that the £164 billion investment forecasted for expansive infrastructure and building schemes in 2024/25 surpasses that of 2023/24, indicating strong economic growth. Over the upcoming decade, overall planned investments are projected to hit between £700 billion and £775 billion. Thus, burgeoning infrastructure and roadway projects in nascent economies are steering the expansion of the road marking materials market.
What Are The Primary Segments In The Global Road Marking Materials Market?
The road marking materials market covered in this report is segmented –
1) By Type: Paint-Based Marking, Solvent-Based Paints, Water-Based Paints, Performance-Based Marking, Thermoplastics, Cold Plastics
2) By Application: Road Markings, Factory Markings, Car Park Markings, Airport Markings, Anti-Skid Markings
Subsegments:
1) By Paint-Based Marking: Conventional Paints, Reflective Paints, High-Performance Paints
2) By Solvent-Based Paints: Alkyd-Based Solvent Paints, Acrylic-Based Solvent Paints, Epoxy-Based Solvent Paints
3) By Water-Based Paints: Acrylic Water-Based Paints, Latex Water-Based Paints, Low-VOC Water-Based Paints
4) By Performance-Based Marking: High-Visibility Marking, Durable Marking Solutions, Specialized Marking for Extreme Conditions
5) By Thermoplastics: Pre-formed Thermoplastic Markings, Hot-Applied Thermoplastic Materials, Reflective Thermoplastic Markings
6) By Cold Plastics: Two-Component Cold Plastic Markings, High-Performance Cold Plastic Materials, Cold Plastic Temporary Markings
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Which Key Trends Are Driving Changes In The Road Marking Materials Market?
Innovations in technology have become a prominent trend in the road marking materials market. For instance, Röhm GmbH, a company based in Germany that specializes in chemicals, introduced an eco-friendlier binder for cold plastic road markings - DEGAROUTE proTerra 100, in April 2022. Compared to similar products made from virgin raw materials, DEGAROUTE proTerra 100, made with 30% recycled PMMA, decreases the carbon footprint by roughly 20%. Road marking systems that use DEGAROUTE are reactive and do not have solvents. They hardly ever produce volatile organic compounds (VOC), and they don't require external heat during their application.
Who Are the Key Players in the Road Marking Materials Market?
Major companies operating in the road marking materials market include:
• The Sherwin-Williams Company
• Minnesota Mining and Manufacturing Company
• Ennis Flint Inc.
• Evonik Industries AG
• Geveko Marking UK Ltd.
• Hempel AS
• Kelly Bros Ltd.
• Ozark Materials LLC
• Sealmaster of Pennsylvania Inc.
• SWARCO Industries Inc.
• Automark Technologies Private Ltd.
• Asian Paints Ltd.
• Chemac Inc.
• DCC LANINO ROAD SAFETY PRIVATE LIMITED
• Dow Chemical Company
• Epoplex GmbH & Co. KG
• Geveko Markings India Pvt. Ltd.
• Hitex International Group
• Hi-Way Services Ltd.
• Kestrel Thermoplastics Limited
• Crown Technology Inc.
• LANINO LLC
• Liquid Plastics Limited
• Nippon Paint (M) Sdn Bhd
• Potters Industries LLC
• RAE Products and Chemicals Corp.
• Roadmark Corporation
• Viz Reflectives North America
• 3M Co.
• Aximum SA
• BASF SE
• BASLER LACKE AG
• BNKO Environmental Technology Co. Ltd.
• Crown US LLC
• Dianal America Inc.
• Henkel Corp.
• NITTO DENKO CORPORATION
• Permionics Membranes Private Limited
• PPG Industries Ltd.
What Is The Most Dominant Region In The Road Marking Materials Market?
Asia-Pacific was the largest region in the road marking materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the road marking materials market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
