The Road Marking Materials Market Size was valued at USD 1.2 Billion in 2022. The Road Marking Materials industry is projected to grow from USD 1.34 Billion in 2023 to USD 8.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.1% during the forecast period (2023 - 2030). The Road Marking Materials Market is mainly driven by road-building activities worldwide. The Road infrastructure has been an important part of global trade and the growing economy of a country. Respective governments are likely to drive the demand for road infrastructure over the coming years.      
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Increased investment in the construction of roads is projected to benefit the sector. Investment in the construction of road networks will bring economic and social benefits to communities. The benefits of fostering goodwill among communities through the construction of roads and the promotion of trade are likely to provide opportunities for the demand for road marking materials. Other factors that can stimulate demand growth are developments in road marking systems and the availability of laying facilities. To minimize the death risk of people caused by dangerous roads, the governments of different countries have taken measures to improve road conditions and provide adequate signs on the roads. The growth in GDP and its increasing use in commercial and industrial establishments, along with growing stress on construction activity, has led to an increase in demand for road marking materials.Â
Additionally, several government authorities are expected to increase spending on road restoration, repair, and renovation, thus driving the demand for road marking materials. In addition, growing investment in new roads and road projects across developing markets are some of the other factors that are projected to fuel target demand growth over the forecast period. In addition, technical advancements, such as smart road marking technologies, as well as accelerated industrialization, and the demand for road marking materials have been motivated by the growth of manufacturing capability. Positive socio-economic and demographic trends such as urbanization, increasing population, disposable incomes, and raising living standards have been positive for the growth of the global demand for road marking materials.
The Road Marking Materials Market segmentation, based on Product, includes Water-Based Coatings, Solvent-Based Coatings, and Thermoplastic Coatings. The water-based coatings segment holds the prime share in the market due to its environment-friendly nature. Further, these paints support energy conservation and sustainability and hence are widely employed in construction and infrastructures. Conventional paints are used for painting signs and boards in public spaces. For instance, red signs are used to provide crucial information such as speed limits and accident-prone areas, while yellow and orange paint is used for temporary cautions.
Based on Application, the Road Marking Materials Market segmentation includes roads & Highways, Airports, Parking Lots, and Others. The roads & highway segment constituted the major market share in 2020. The growing demand for water-borne thermoplastic coatings for protecting the retro-reflectivity markings on roads and parking spaces/lots is one of the prime factors driving the market. Besides, the increasing demand for water-proof coatings from multiple application areas including airports, malls, parking lots of malls, shopping centers, housing societies, and others is also expected to drive the market's growth.Â
Figure 2: Road Marking Materials Market, by Application, 2023 & 2030 (USD Billion)Â Â Â Â Â Â Â Â Â Â Â Â 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewÂ
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The market size in Asia Pacific stood at USD 2.37 billion in 2020. Asia Pacific dominated the road marking coatings market share and is likely to maintain its position during the forecast period. Increasing constructional activities in the public, as well as the private, sector is the key factor influencing growth in the region. The construction sector, coupled with various government initiatives and schemes supporting constructional and infrastructural activities, will also propel regional growth. For instance, in November 2020, the Union Cabinet of the Indian government approved investments worth INR 6,000 crores equity in the debt policy of the National Infrastructure Investment Fund for the next 2 years to boost infrastructure growth.
Figure 3: ROAD MARKING MATERIALS MARKET SHARE BY REGION 2023 (%)Â Â Â 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewÂ
Europe is experiencing significant growth over the last few decades. Increasing tourism activities are creating a dire need for improving infrastructures and public transport. Additionally, the increasing number of passenger vehicles on roads has raised the possibility of road accidents. This has led to an increase in the demand for road safety measures.
North America is expected to witness considerable growth in terms of volume. Increasing residential and commercial infrastructural activities are supporting the adoption of traffic road marking coatings. Moreover, the presence of a large manufacturing base for coatings & paints is also expected to drive regional growth. Stringent road safety rules and awareness among consumers regarding the same shall boost market growth.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Road Marking Materials market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Road Marking Materials industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Road Marking Materials. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Road Marking Materials industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Road Marking Materials industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Road Marking Materials market players, including 3M (U.S.), Sherwin-Williams (U.S.), Swarco AG (Austria), Nippon Paint Holdings Co. Ltd. (Japan) and others, are attempting to increase market demand by funding R&D initiatives.
Sherwin-Williams is a company engaged in the manufacture, development, distribution, and sale of paints, coatings, and related products. It offers architectural paint and coatings, protective and marine products, and related products, and provides architectural paints, stains, varnishes, industrial products, wood finish products, wood preservatives, applicators, corrosion inhibitors, aerosols, and caulks.
Also, 3M (formerly Minnesota Mining and Manufacturing) is a technology company that provides product development, manufacturing, and marketing. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment specializes in personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, and electrical markets.
In October 2021 An Austrian transportation technology group Swarco announced the acquisition of a Cheshire road marking company named Hitex. Companies of the Hitex group continue to work for road safety. Swarco believes that with the acquisition of Hitex, the search would turn into a giant company assuring market opportunities and known as a highly reputed, good market penetrator company with a developmental vision.
January 2021 THI's long-term pan-European private equity firm company obtained a majority stake in road markings and constructing highway goods and services.
Road Marking Materials Product Outlook
Road Marking Materials Application Outlook
Road Marking Materials Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD Â 1.2 Billion |
| Market Size 2023 | USD 1.34 Billion |
| Market Size 2030 | USD 8.9 Billion |
| Compound Annual Growth Rate (CAGR) | 5.1% (2023-2030) |
| Base Year | 2023 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Asian Paints Ltd. (India), Reda National Co. (Saudi Arabia), PPG Industries Inc. (U.S.), TATU Traffic Group (China), Nippon Paint Holdings Co. Ltd. (Japan), Helios Group (Slovenia), SealMaster (U.S.), Geveko Markings (Sweden), LANINO (South Africa), Zhejiang Brother Guidepost Paint Co. Ltd. (China), Ennis Flint Inc. (U.S.), 3M (U.S.), Hempel (The Netherlands), Sherwin-Williams (U.S.), and Swarco AG (Austria) |
| Key Market Opportunities | The increased prominence of road markings in the Lane Departure Warning System (LDWS). |
| Key Market Dynamics | Rapid industrialization coupled with expansion in production capacity has fueled the demand for road marking materials. |
Road Marking Materials Market Highlights:
Frequently Asked Questions (FAQ) :
The Road Marking Materials Market size was valued at USD 1.2 Billion in 2022.
The global market is projected to grow at a CAGR of 5.1% during the forecast period, 2023-2030.
Asia Pacific had the largest share of the Road Marking Materials Market.
The key players in the market are Asian Paints Ltd. (India), Reda National Co. (Saudi Arabia), PPG Industries Inc. (U.S.), TATU Traffic Group (China), Nippon Paint Holdings Co. Ltd. (Japan), Helios Group (Slovenia), SealMaster (U.S.), Geveko Markings (Sweden), LANINO (South Africa), Zhejiang Brother Guidepost Paint Co. Ltd. (China), Ennis Flint Inc. (U.S.), 3M (U.S.), Hempel (The Netherlands), Sherwin-Williams (U.S.), and Swarco AG (Austria).
The water-based coatings categories dominated the market in 2023.
The roads & highways had the largest share in the global market for Road Marking Materials.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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