Road Marking Materials Market Research Report – Global Forecast till 2030

Road Marking Materials Market Research Report: By Type (Thermoplastic Marking Paint, Waterbased Marking Paint, Solvent Based Marking Paint, Two-component (Cold Plastic) Road Marking Paint, Others), By Application (Roads & Streets, Parking Lot, Airport, Others) - Global Forecast till 2030

ID: MRFR/CnM/5942-CR | February 2019 | Region: Global | 117 pages         

Road Marking Materials Market

Road Marking Materials Market is estimated to touch a valuation of USD 5.46 Billion by 2028, as per the latest report by MRFR, and expanding at 5.77% CAGR over the forecast period (2021-2028).

Segmentation

By Type Thermoplastic Marking Paint Waterbased Marking Paint Solvent Based Marking Paint Two-component (Cold Plastic)Road Marking Paint Others
By Application Roads & Streets Parking Lot Airport Others

Key Players

  • 3M (U.S.)
  • Sherwin-Williams (U.S.)
  • Swarco AG (Austria)
  • Nippon Paint Holdings Co. Ltd. (Japan)
  • Ennis Flint Inc. (U.S.)
  • Hempel (The Netherlands)
  • Geveko Markings (Sweden)
  • PPG Industries Inc. (U.S.)
  • Asian Paints Ltd. (India)
  • SealMaster (U.S.)
  • LANINO (South Africa)
  • Reda National Co. (Saudi Arabia)
  • TATU Traffic Group (China)
  • Zhejiang Brother Guidepost Paint Co. Ltd. (China)
  • Helios Group (Slovenia)

Drivers

  • Rapid industrialization coupled with expansion in production capacity has fueled the demand for road marking materials.
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Road Marking Materials Market Overview


Road Marking Materials Market is estimated to touch a valuation of USD 5.46 Billion by 2023, as per the latest report by MRFR, and expanding at 5.77% CAGR over the forecast period (2018-2023). Increased spending on road infrastructure is the primary driver of the market.


COVID-19 Analysis


MRFR projects that the pandemic would have a substantial effect on different factors in the supply chain of road marking products that are supposed to be expressed over time. The implementation of COVID-19 lockdowns across the globe has led to many delays in numerous building projects worldwide. Factors such as delays, lack of productivity, and cost consequences due to the pandemic are also projected in many parts of the world to discourage construction activities. In the building sector, however, relief steps are given for the middle market and major companies. Because of the effects of COVID-19, reverse migration and supply chain instability are some of the many implications that the building industry is likely to face, among others. The heavy & civil engineering construction business has resumed its operations amid all these reasons. 


Market Dynamics


Drivers


Growing global construction boom to drive market growth


Increased investment on the construction of roads is projected to benefit the sector. Investment in the construction of road networks that 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. In order to minimise 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 the construction activity, has led to an increase in demand for road marking materials. 


Globally, 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 on 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 has been motivated by the growth of manufacturing capability. Positive socio-economic and demographic trends such as urbanisation, increasing population, disposable incomes, and raising living standards have been positive for the growth of the global demand for road marking materials..


Opportunities


Growing investment in R&D activities to Create Growth Avenues for Market Players


The increased prominence of road markings in the Lane Departure Warning System (LDWS) would open up positive opportunities for development. Many technology, such as active wire guidance, laser, magnetic sensors, and image recognition devices, are used as the basis for LDWS. For road marking products, automated mobility provides a possibility in the future. For commuters driving cars, well designed and well-maintained road markings provide direction. The untapped potential of emerging markets offers attractive prospects for expansion.


Restraints


Stringent Regulations to Impede Market Growth


There are some constraints and obstacles facing the overall development of the industry that will impede it. A main factor expected to delay development during the projected era is the fluctuating cost of raw materials such as pigments, resins, and additives that are derived from crude oil. In addition, the key factor inhibiting demand growth is the cautious policy of road contractors. Related to different political concerns, strict regulatory policies on solvent-based road markers, dysfunctional oil and gas markets around the world are the possible constraints that hamper the overall development of the global demand for road marking materials. 


Segmental Analysis


By Type


In 2017, the thermoplastic paint markings segment had a 32.3 percent market share. By 2023, the segment could rise to a value of USD 1,806.9 million. The exponential development can be due to the eco-friendly nature of thermoplastic paint markings and exceptional longevity.


By Application


Due to the use of markers to display signage and warning lines to avoid crashes and injuries, highways & streets accounted for a 55.3 percent share in 2017. The variables that can be attributed to supplying road users with knowledge and directing traffic. These markers act as a psychological deterrent and reflect the delineation of the direction of traffic. The segment is expected to demonstrate 6.09 percent CAGR over the projected period to hit a value of USD 3,085.8 million by 2023.


Regional Assessment


Asia Pacific to grow at CAGRR's peak


During the forecast era, Asia Pacific is expected to be the fastest-growing market for road marking materials. During the forecast era, factors such as growing demand for safer roads and increasing investment in the civil construction sector would promote the use of road marking materials in the Asia Pacific region. In addition, increasing awareness about safety coupled with urbanisation across India and China is another factor slated to drive growth of the target market in this region over the forecast period. During the review period, these factors are expected to increase the demand for road marking materials in the Asia Pacific region.


Competitive Landscape


Expansion Strategies to be the Primary Focus of Market Players


Players already have an impressive product portfolio and can gain clients through their services. Enhancing their production capacity can help these players sustain their position in the market. 



  • 3M (U.S.)

  • Sherwin-Williams (U.S.)

  • Swarco AG (Austria)

  • Nippon Paint Holdings Co. Ltd. (Japan)

  • Ennis Flint Inc. (U.S.)

  • Hempel (The Netherlands)

  • Geveko Markings (Sweden)

  • PPG Industries Inc. (U.S.)

  • Asian Paints Ltd. (India)

  • SealMaster (U.S.)

  • LANINO (South Africa)

  • Reda National Co. (Saudi Arabia)

  • TATU Traffic Group (China)

  • Zhejiang Brother Guidepost Paint Co. Ltd. (China)

  • Helios Group (Slovenia)


Recent Development

October 2021-
Austrian transportation technology group Swarco announced the acquisition of Hitex, a Cheshire road marking company. The terms of the deal haven’t been disclosed yet. The origin of the Hitex Group was based at Ellesmere Port in 1972 when the founding of road marking contractor L&R Roadlines. Companies of the Hitex group function in road safety, being a manufacturer of road marking materials and decorative surfacing products, a contractor for road marking services (L&R Roadlines), and a producer of road marking vehicles and machinery (Somerford Equipment). Swarco believes that with the acquisition of Hitex, the company followed their course of pursuing market opportunities with companies, which are a suitable fit for the firm by having robust know-how in their field, a high reputation, a good market penetration, and the background of family ownership with a corporate culture just like Swarco’s. Swarco also believes that the Hitex acquisition will provide them with direct access to the road marking systems sector in the UK.


December 2020: Geveko Markings, one of the major market players of road marking materials, acquired French manufacturer Oré, which is a rising road marking paint and safety manufacturers. The acquisition marks a significant milestone in Geveko’s efforts to grow the liquid markings segment and to offer their customers a complete portfolio of road marking solutions.


January 2021: THI Investments, a long-term pan-European private equity firm, obtained a majority stake from Hull-based WJ Group, a provider of road markers and specialty highway goods and services. With organic growth led by developments in innovative technologies and vehicles, including historical strategic acquisitions, this new arrangement will allow the group to continue delivering high-quality services and to make more investments in innovation, technology and growth in the UK and European markets.


Report Overview


By Type



  • Waterbased Marking Paint

  • Solvent Based Marking Paint

  • Thermoplastic Marking Paint

  • Two-component (Cold Plastic) Road Marking Paint

  • Others


By Application



  • Roads & Streets

  • Parking Lot

  • Airport

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   Substantial Value
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material Type, Application and End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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 Drivers   Rapid industrialization coupled with expansion in production capacity has fueled the demand for road marking materials.


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Frequently Asked Questions (FAQ) :

The global road marking materials market valuation can reach USD 5,466.5 million by 2023.

The global road marking materials market stood at USD 3,925.9 million in 2017.

The global road marking materials market can expand at 5.77% CAGR from 2018 to 2023.

The APAC region can command a massive demand share in the global road marking materials market due to various road development projects in the region.

Ennis Flint Inc., Nippon Paint Holdings Co. Ltd., Geveko Markings, Asian Paints Ltd., LANINO, TATU Traffic Group, Zhejiang Brother Guidepost Paint Co. Ltd., PPG Industries Inc., Reda National Co., Hempel, SealMaster, Sherwin-Williams, Helios Group, 3M, and Swarco AG are major players of the global road marking materials market.

Global Road Marking Material Market: Competitive Landscape


The prominent players in the global road marking material market are 3M, Sherwin-Williams, Swarco AG, Nippon Paint Holdings Co. Ltd, Ennis Flint Inc , Hempel , Geveko Markings , PPG Industries Inc , Asian Paints Ltd , SealMaster , LANINO, Reda National Co., TATU Traffic Group, Zhejiang Brother Guidepost Paint Co Ltd, and Helios Group.


3M, Sherwin-Williams, Ennis Flint Inc, Swarco AG, and TATU Traffic Group collectively hold the majority share of the global road marking material market. Some of the key strategies adopted by the market players includes agreements and collaborations, product development, mergers & acquisitions, and expansion.


3M is a technology-driven company that manufactures industrial, safety, and consumer products. It serves various end-use industries, such as automotive, construction, food & beverages, electronics & telecommunication, energy, healthcare, mining, oil & gas, safety, and transportation. It operates through the following segments: industrial; safety & graphics, healthcare; electronics and energy; consumer. The company manufactures road marking materials under its safety & graphics segment.


Sherwin-Williams is among the leading manufacturers in protective coatings and infrastructure protection technology. It is engaged in the development, manufacture, distribution, and sale of paint, coatings, and related products to professional, industrial, commercial, and retail customers. It serves construction, automotive, oil & gas, mining, marine, paper, healthcare, food & beverage, railway, and water treatment industries. It operates across three business segments, namely the America’s group, consumer brands group, and performance coatings group.


Swarco AG is among the leading road safety material manufacturing companies. It offers traffic management solutions, which consists of urban traffic systems, traffic lights, traffic controllers, LED variable message signs, traffic detectors, and LED street lighting products, traffic management solutions for the controlling and monitoring of highways and tunnels, variable speed control systems, vehicle classification, subsystems, and traffic detection solutions, and dynamic and static signage. It also offers various traffic materials that include glass beads, performed markings, thermoplastic markings, signage products, and software for traffic handling purpose.


Ennis-Flint Inc (formerly Ennis), manufactures and supplies pavement marking materials. Its product segments are cold-applied thermoplastic products, colored aggregates, glass beads, hot-applied thermoplastic products, traffic paints, preformed thermoplastic products, and raised pavement markers. Road marking materials are manufactured in the traffic paints and raised pavement markers segment. The products have widespread applications in airfields, bike and bus lanes, intersections, pedestrian plazas, roads/streets/highways, and roundabouts. In April, 2018, Ennis-Flint acquired the materials manufacturing business unit of Vernisol SPA.


Tatu Traffic Group is engaged in research, production, sales of road marking products and traffic safety facilities. Its business segments include road marking machines, road marking materials, and road safety facilities. It offers a variety of products, such as road marking paints and anti-skid materials.