Global Road Marking Materials Industry Report 2023: Market to Reach $9.3 Billion by 2030 - Emphasis on Road Network Expansion to Boost Demand

DUBLIN, Nov. 30, 2023 /PRNewswire/ -- The "Road Marking Materials - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Road Marking Materials Market to Reach $9.3 Billion by 2030

The global market for Road Marking Materials estimated at US$6.2 Billion in the year 2022, is projected to reach a revised size of US$9.3 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2022-2030. Paint-based Markings, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$5.1 Billion by the end of the analysis period. Growth in the Performance-Based Markings segment is estimated at 6.5% CAGR for the next 8-year period.

The road surface markings market is influenced by various factors and market trajectories. The COVID-19 pandemic has led to funding shortages, impacting road construction projects. Recent market activity indicates dynamic changes in the sector, with a breakdown of market share among key players in the performance-based markings segment in 2020 and projections for 2027, reflecting the competitive landscape of the road surface markings market.

The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 6.4% CAGR

 In the US, there is a demand for significant infrastructure investments from the new administration. Temporary relief has been provided through the extension of the FAST Act, but there is a growing focus on long-term solutions and sustainability reforms.

Road surface markings play a crucial role in guiding pedestrians and drivers for smooth traffic flow. There are different types of road marking materials, including paint-based and performance-based markings. Globally, China's infrastructure overhaul is driving market opportunities.

The Road Marking Materials market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

• Rise in Number of Road Accidents and Need for Proper Road Safety Measures Drive the Demand for Road Markings
• Global Breakdown of Number of Vehicles Registered by High-Income, Middle-Income and Low Income Countries
• Global Breakdown of Deaths for Road Accidents by High-Income, Middle-Income and Low Income Countries
• Road Marking Industry Leaps Forward with Inflow of Innovative Technologies
• Laser Markings Technology
• Tactile Black Markings across the Middle Line of the Road to Ensure Traffic Safety
• Opportunities & Challenges with New Liquid Traffic Marking Paints
• Primary Factors Impeding Adoption of Innovative Solutions
• Thermoplastic Coatings Ride High on Diverse Applications & Compelling Advantages
• Growing Use of High-Quality Materials to Improve Mobility and Road Safety
• Regulations Cripple Momentum in Solvent-Based Road Markings Segment
• With Cycling Growing in Popularity Amidst COVID-19 Outbreak, Need for Separate Cycling Lanes to Spur Opportunity for Road Marking Materials
• Growing Emphasis on Lane Departure Warning Widens the Role of Road Markings
• Autonomous Vehicles Elevate the Importance of Road Marking
• Anti-Skid Markings Act as Warning to Road Users
• Road Maintenance and Replacement of Old Markings Create Demand
• Aging Drivers Drive Need for Proper Maintenance and Improved Road Markings
• Comparison of Older and Younger Drivers in Terms of Risk, and Fragility Relative to Adult Drivers
• Infrastructure Investment Patterns Strongly Influence the Market
• Emphasis on Road Network Expansion to Boost Demand
• Urbanization and Ensuing Need for Public Infrastructure to Drive Demand for Road Marking Materials
• Airport Marking Provides an Essential Visual Aid to the Air Traffic
• Impact of COVID-19 on Airlines and Airports
• Parking Lot Marking Gains Traction in Malls, Commercial Buildings & Large Residential Complexes
• Growing Emphasis on Workplace Safety in Factory Environments Bodes Well for Factory Markings
• Steady Rise in Number of Fatal Workplace Injuries Augments Demand for Low-Cost Safety Solutions such as Factory Markings

FOCUS ON SELECT PLAYERS (Total 71 Featured)

• Dow Inc.
• Euragglo S.R.L.
• SWARCO AG
• Hitex International Group
• Asian Paints PPG Pvt. Limited
• Crown Technologies LLC
• Geveko Markings
• Monarch Industrial Products (I) Pvt., Ltd.
• LANINO TRAFFIC MARKINGS
• Alliance Design and Development Group, Inc.
• Aurora Projects Pty Limited
• Intergroup

For more information about this report visit https://www.researchandmarkets.com/r/9t0zgy

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]    

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716 

Logo:  https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg 

SOURCE Research and Markets