Authored By: Sarah
30 Aug 2024

Road Marking Materials Market Size to grow by USD 1628.6 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Road Marking Materials Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. In the rapidly evolving mobility landscape, autonomous driving is poised to redefine individual transportation. Semi-autonomous driver assistance systems have gained significant traction in modern vehicles, with Volvo Autonomous Solutions and Aurora's partnership in March 2021 being a prime example. Their collaboration aims to develop and deploy autonomous transport solutions, initially focusing on hub-to-hub applications in North America. Crucial to the reliability of these autonomous vehicles is the quality of lane markings. SWARCO Road Marking Systems, an exclusive partner of Digitrans in St. Valentin, Austria, ensures superior performance through premium glass beads. Produced in-house, these marking materials boast high retroreflection, enhancing safety and efficiency on roads.

Key Highlights

Growth Projections

The global road marking materials market  size is estimated to grow by USD 1628.6 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.5% during the forecast period. Growing awareness and adoption of road safety is driving market growth, with a trend towards smart and autonomous mobility  However, certification in nordic countries  poses a challenge.Key market players include 3M Co., Axnoy Industries LIp, AutoMark Technologies (India) Pvt. Ltd., AUTOMARK INDUSTRIES (INDIA) Pvt. Ltd., Basler Lacke AG, Crown Technology LLC , Evonik Industries AG, Geveko Markings, Kataline Group, KELLY BROS, Kestrel Thermoplastics Ltd., Nanjing Roadsky Traffic Facility Co.Ltd., NIPSEA Group, Ozark Materials LLC, PPG Industries Inc., Rembrandtin Coatings GmbH, SealMaster, Sunrise Overseas, SWARCO AG, and The Sherwin Williams Co..

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Major Findings

  • The Road Marking Materials Market is experiencing significant growth due to the increasing emphasis on road safety worldwide. Governments and transportation authorities are investing heavily in the implementation of advanced road marking solutions to enhance visibility, reduce accidents, and ensure the safe movement of vehicles. This trend is expected to continue as awareness regarding the importance of road safety increases. Road marking materials, such as thermoplastic, reflective paint, and preformed thermoplastic, play a crucial role in ensuring the safety and efficiency of road infrastructure. These materials offer superior durability, reflectivity, and application flexibility, making them the preferred choice for road marking projects. The market for road marking materials is anticipated to expand at a steady pace in the coming years, driven by the growing demand for safer and more efficient roads.

  • The surge in highway construction projects globally has significantly boosted the demand for road marking materials. These materials, which include thermoplastic, paint, and tapes, play a crucial role in enhancing road safety and traffic management. Their durability and ability to withstand harsh weather conditions make them an essential component in road infrastructure development. The increasing focus on road safety regulations and infrastructure improvements is further fueling the growth of the road marking materials market.

  • In the Nordic countries, certification is a crucial factor for the road marking materials market. Compliance with stringent regulatory standards is essential to ensure safety and durability. These standards include requirements for skid resistance, UV stability, and resistance to weather conditions. Major players in the market prioritize obtaining certifications from recognized organizations to meet these requirements and gain a competitive edge. This not only enhances the market value of certified products but also instills confidence in customers and regulatory bodies.

  • The road marking materials market is subject to stringent regulatory policies regarding the use of solvent-based markings due to environmental concerns. These regulations aim to minimize the emissions of volatile organic compounds (VOCs) and promote the adoption of water-based and other eco-friendly alternatives. Compliance with these policies is essential for road marking companies to ensure sustainability and maintain regulatory approval.

Market Research Overview

The global specialty chemicals industry encompasses businesses specializing in high-value-add chemicals utilized in the production of a diverse range of products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by manufacturers involved in the production of these high-value chemicals. Key growth drivers for the specialty chemicals market include the increasing demand for specialty adhesives and sealants, which are expected to significantly contribute to market expansion throughout the forecast period.

The Road Marking Materials Market is experiencing significant growth, fueled by the Growing awareness and adoption of road safety. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The Road Marking Materials Market encompasses the production and distribution of materials used to mark roads for safety and navigational purposes. Key players in this industry include 3M, Sika AG, and Raslan Highway Marking. These companies provide a range of products, such as thermoplastic, paint, and preformed tape, to meet the demands of transportation departments worldwide. Growth in infrastructure development and increasing road safety regulations are driving market expansion.

Research Analysis Overview

The Road Marking Materials Market encompasses a range of products used to mark roads for safety and navigational purposes. These materials include Water-based paints and Solvent-based paints, which are commonly used for Paint-based marking. Leading companies in this market include SealMaster and Geveko Markings. Road marking materials are essential for civil engineering projects, including highway construction and infrastructure development in the Nordic countries and emerging economies. The use of Cold plastics and Thermoplastics in road marking has gained popularity due to their durability and performance-based road design. Epoxy and Polyurethane are popular choices for marking highways, national roads, and roads for road transport. The Road Initiative, Belt and Road construction projects, and Public-Private Partnerships have led to increased demand for these materials in infrastructure projects. Transverse Marking and Longitudinal marking are essential pavement markings for safer roads. The market for road marking materials is influenced by economic activities, construction delays, and environmental regulations. In the context of the Silk Route and the increasing focus on Electric mobility, the market for road marking materials is expected to grow significantly in the coming years. Certification systems are crucial in ensuring the quality and safety of road marking materials. Companies like SealMaster and Geveko Markings have established themselves as leaders in this market by providing high-quality, certified products. The development of the road network and the infrastructure sector is a key driver for the growth of the road marking materials market.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

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