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

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Nov 30, 2023, 17:15 ET

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

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