Road marking materials are used on roadways and walkways to provide pedestrians and drivers with direction and information. To eliminate driveway confusion and improve road safety, markings are standardized. Furthermore, technological developments such as retro reflectivity, marking lifespan, and cheap installation cost are being used to expand the market for road marking materials.
MARKET SCOPE
The "Global Road Marking Materials Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the road marking materials market with detailed market segmentation by type and application. The report provides key statistics on the market status of the leading road marking materials market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global road marking materials market is segmented into performance-based markings, paint-based markings.
- On the basis of application the market is segmented into road markings, factory markings, parking lot markings, airport markings, others.
MARKET DYNAMICS
Drivers:
- The need for road marking materials has been spurred by rapid industrialisation and increased production capacity. Paint-based marking has grown in popularity as a result of its widespread use on highways.
- The market demand has risen as government rules and road safety requirements have improved.
Restraints:
- One of the primary restrictions on the road marking materials industry is road contractors' cautious approach. Several road contractors want low-cost, basic items, while others need high-performance solutions at low, competitive pricing.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The road marking materials market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the road marking materials market in these regions.
IMPACT OF COVID-19 ON ROAD MARKING MATERIALS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the road marking materials market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from road marking materials market are anticipated to lucrative growth opportunities in the future with the rising demand for road marking materials in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the road marking materials market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 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
- Automack Technologies
- Asian Paints Ltd.
- Reda National Co.
- PPG Industries Inc.
- TATU Traffic Group
- Nippon Paint Holdings Co. Ltd.
- Helios Group
- SealMaster
- LANINO
- Zhejiang Brother Guidepost Paint Co. Ltd.
- 3M