Road Marking Materials Market worth $7.5 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 14, 2020 /PRNewswire/ -- According to the new market research report "Road Marking Materials Market By Type (Performance-Based Markings & Paint-Based Markings), Application (Road & Highway Marking, Parking Lot Marking, Factory Marking, Airport Marking, And Anti-Skid Marking), And Region – Global Forecast to 2025", published by MarketsandMarkets™, the Road Marking Materials Market is projected to grow from USD 6.1 billion in 2020 to USD 7.5 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. The market is witnessing average growth across the world due to factors such as, increased spending on safer roads, and new infrastructure and roadway projects in emerging economies.
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By type, the paint-based markings segment is estimated to dominate the global road marking materials market
By type, the paint-based markings segment of the road marking materials market is estimated to dominate the global road marking materials market due to their cost-effectiveness and efficient performance. These markings generate high demand due to their retro-reflective glass beads and are generally used to denote travel lanes or mark parking spaces. These factors are expected to drive the road marking materials growth in the type segment.
By application, airport markings segment is estimated to be the fastest-growing segment of road marking materials market from 2020 to 2025.
By application, the airport markings application segment is projected to growth with the highest CAGR in the global road marking materials market, during the forecast period. The high growth of the airport marking application segment is primarily due to the significance of airport safety. These markings guide airplanes coming into and going out from a runway or taxiway, provide situational awareness, provide an essential visual aid to authorities, and promote overall airfield safety. These factors are estimated to drive the growth of airport markings segment in the road marking materials market during the forecast period.
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Asia Pacific is estimated to register the highest growth in the global road marking materials market during forecast period
Asia Pacific is projected to be the fastest growing market for road marking materials during the forecast period. The growing demand for road marking materials is primarily driven by the increasing investments in the civil construction sector, as well as the growing need for safer roads. The various infrastructural activities by emerging economies like China and India is driving the growth of the Asia Pacific road marking materials market during the forecast period. These factors are estimated to lead the road marking materials market in Asia Pacific region.
The Sherwin-Williams Company (US), Ennis-Flint, Inc. (US), SWARCO AG (Austria), Geveko Markings (Denmark), SealMaster (US), 3M (US), Aximum (France), Rembrandtin Lack GmbH Nfg. KG (Austria), Crown Technology, LLC (US), Basler Lacke (Switzerland), and Ozark Materials, LLC (US) are the key players in road marking materials market.
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