Road Marking Materials Market to Keep Snowballing Its Shares By 2024

Global road marking materials market is showing a decent growth rate since 2015, when it was valued at US$3.50 bn. The market value has been increasing since then and is predicted to reach till US$5.66 bn by the end of 2024. According to Transparency Market Research (TMR), the market will demonstrate a CAGR of 5.5% between 2016 and 2024. Road marking materials usually are in demand for overall purposes such as for markings of factories, airports, car parkings, streets, edges, borders, outskirts, bikeways, and sidewalks. Road marking materials are generally of two types in which one is based on paint and the other is based on performance. The markings, based on performance, are further divided in two parts, such as thermoplastics and cold plastics. The markings based on paint consist of various types of paints that are based on water, solvents, epoxy and polyurethane. Street marking is the most important kind of marking in the road marking materials market as it is a continuous and global necessity.

What incurred the demand for road marking materials market?
The increasing world population causes has fuelled need of new infrastructure. This has resulted in the construction of new roads, sidewalks, bikeways, airfields, houses, parking spaces, pedestrian’s crossings and much more. All these structures require markings which escalates the demand for marking materials thus aggregating the global road marking materials market’s value. Also, the need for more visibility in the night time has fuelled the demand for road marking materials. The number of factories has also increased and so the markings for safety, machine keeping, aisles, logistic markings and many other types are being prepared resulting in growth of the road marking materials market since 2016.
How is the growth of global road marking materials market summarized?
The demand of road marking materials is continuously on the rise. In 2015, Asia Pacific was leading the road marking materials market to which Europe and North America followed. While nations such as India and China from the Asia Pacific market will continue to lead the market in future, the developed regions of North America and Europe might face a slow progress rate because of the severe environmental rules in contradiction of the use of paint based materials. Increasing alertness regarding the traffic safety and new infrastructures in countries like India and China will be the main reason for Asia Pacific to remain a dominating market in global road marking materials market in future.
Which suppliers are prominent in the global road marking materials market?
Amongst many companies, merchant companies like Ozark Materials LLC., Swarco Limburger Lackfabrik GmbH, Geveko Markings, Kelly Bros Erinline, Aximum S.A, and The Sherwin-Williams Company are the key suppliers of the global road marking materials market.


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