Road Marking Paints and Materials Market

Road Marking Paints and Materials Market Outlook (2022-2032)

The Global Road Marking Paints and Materials Market is predicted to grow at a CAGR of 6.5% through 2032, reaching a valuation of US$ 12.2 Billion, according to Fact.MR, market research and competitive intelligence provider.

By type, performance-based road marking paints and materials is expected to dominate the market.

Road marking products are used on roadways and pathways to provide guidance, warnings, and information to pedestrians, cars, and vehicles. Uniformity of Road Marking Paints and Materials is vital to limit road confusion and boost public safety. Companies continue to develop retroreflective technology, allowing Road Marking Paints and Materials to last for several years. They are also building on durable products that make installation cost-effective.

Attribute	Details
Road Marking Paints and Materials Market Size (2021A)	US$ 6.2 Billion
Market Forecast Value (2032F)	US$ 12.2 Billion
Global Market Growth Rate (2022-2032)	6.5% CAGR
US Market Share	~49.5%
Top 2 Road Marking Paints Manufacturers’ Market Share	~74.2%
Key Companies Profiled	SHERWIN-WILLIAMS COMPANY AXIMUM 3M ENNIS-FLINT, INC. SWARCO AG

 

Road Marking Paints and Materials Consumption Analysis (2017-2021) Vs. Market Outlook (2022-2032)

According to Fact.MR, a market research and competitive intelligence source, worldwide Road Marking Paints and Materials usage has expanded at a CAGR of roughly 5.1% over the last half-decade. Rapid industrialization has boosted demand for Road Marking Paints and Materials, as has expanded production capacity.

Paint-based marking has grown in popularity as a result of its widespread usage on roadways. Furthermore, the low cost of paint is expected to boost this market for the duration of the projected period. Because of their high adhesive characteristics and low dirt pick-up rate, epoxy paints used in paint-based marking have gained favor in recent years.

The increased adoption of government safety restrictions is spurring expanding applications in highways and airways, as it coincides with an increase in the use of paint and performance-based markings, including polyurethane-based and thermoplastics road marking paints.

Environmental regulations to combat the negative effect of increased highway marking materials and their rise in production costs hinder industry growth. Road marking systems that operate using artificial intelligence, however, is projected to boost revenue.

What’s driving the Global Sales of Road Marking Paints and Materials?

According to the Association for Safe International Road Travel, around 1.25 Mn people are killed in road accidents each year, with an average of 3,287 fatalities happening globally each day. These mishaps are typically caused by bad road conditions. To minimize accidents caused by climatic conditions and poorer visibility of road markings during the day and at night, safer roads are required.

Several governments, including those in the United States, the United Kingdom, China, and Switzerland, have taken initiatives to improve road conditions and provide proper road markings in order to minimize the number of people killed on dangerous roads. This is anticipated to increase the Road Marking Materials Market throughout the forecast period.

What are the Key Challenges Facing Road Marking Paints and Materials Producers?

Road markings are generally considered as playing a vital role in ensuring and increasing global road safety. Their performance, on the other hand, is governed by two important factors: the substance used in road markings and the weather conditions.

Night-time Road Marking Paints and Materials become more necessary in cold and wintry conditions. Snow-load safety in the Nordic countries impacts road marking manufacture in some EU nations up to some extent. To improve road safety, Road Marking Paints and Materials in Denmark, Norway, and Sweden were verified for their durability in the frigid and cold Nordic climate by the transport authorities of those countries. These factors limit manufacturers of these Road Marking Paints and Materials.

Country Wise Analysis

What are the regional insights of the market for Road Marking Paints and Materials?

Road Marking Paints and Materials are expected to increase in value in the Asia Pacific throughout the upcoming forecast period, primarily as a result of increasing utilization of these materials in civil construction projects.

Factors such as increasing demand for safer roads and government investment in the production of such materials are the main reason for increasing road marking use in Asia Pacific. These factors are projected to boost sales of Road Line Marker Paints and Materials in the Asia Pacific region during the forecast period.

In North America and Europe, increased highway safety requirements and regulatory limitations have raised market demand. Furthermore, skid-resistant technologies have emerged as potential market drivers in these nations. Rapid industrialization is also expected to boost market demand in developing markets such as China, India, and Japan.

Category Wise Analysis

Which Type of Road Marking Paints and Materials is Gaining Demand Traction?

The performance-based Road Marking Paints and Materials is expected to grow at the fastest CAGR during 2022-2032. Thermoplastics and cold plastics are two sub-classes of performance-based markings.

These types of performance-based road markings provide advantages such as increased durability, a lack of VOC components, high reflecting properties, and longer life of road markings. These reasons are expected to drive the demand for performance-based markings in this application. Over the forecast period, these factors are expected to boost the market for Road Marking Paints and Materials.

Which application of Road Marking Paints and Materials generates the most revenue?

Road and highway markings are predicted to be the largest revenue-generating application in the Road Line Marker Paints market.

Because they are utilized on the most significant portion of the road markings sector, namely roads, and highways, these markings are likely to dominate the market for Road Marking Paints and Materials. As a result, road and highway markings are likely to dominate the market for Road Marking Paints and Materials throughout the forecast period.

In recent years, the demand for traffic and field marking paints has also swelled to a significant degree. Traffic & Zone Marking Paint demand is expected to flourish at a significant pace in the years to come. 

Competition Landscape

The key Road Marking Paint companies are focusing on the quality of their offerings. They key players in the global Road Marking Paints and Materials include Sherwin Williams Company, Geveko Marking, Aximum SA, Kelly Bros Erinline, Swarco Limburger Lackfabric GmbH, Ozark Materials LLC, Ennis Flint, Roadmarking Industry Association of Australia, Evonik Industries, and Automack Technologies.

Some of the recent developments in Road Marking Paints and Materials Market are as follows:

• In October 2021, Swarco, an Austrian transportation technology company announced the acquisition of Hitex, a Road Marking Paints and Materials provider. With this acquisition, Swarco expects to enter the Road Marking Paints and Materials market in the U.K.
• In January 2021, A European private equity firm THI Investments announced that it has gained a majority stake from WJ Group, a provider of specialty highway goods and services including Road Marking Paints and Materials.  

Key Segments Covered in Road Marking Paints and Materials Industry Survey

• By Type :

  • Paint Based Materials
  • Performance-Based Materials

• By Application :

  • Road and Highway
  • Pavement 
  • Parking Lot 
  • Factory 
  • Airport 
  • Field 
  • Other Applications

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America