Road marking materials are used on pathways and roadways to convey guidance & information to pedestrians & drivers. These materials provide visible signs on street, curbs, motorways, parking areas, and airfields. They are categorized into two types such as paint based markings and performance-based marking. The increase in spending on new infrastructure & roadway projects across developing countries which expected to fuel the global road marking materials market growth.
The increase in industrialization with expansion of production capacity is a key driving factor expected to boost the global road marking materials market growth over the forecast period. Also, the growing government safety standards resulting in increasing in its application in roadways & airways is one of the prominent factors which expected to drive the target market growth. The technological advancements like intelligent road marking systems will positively influence the market growth.
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Furthermore, ongoing trend observed in the global market is the increase in preference towards eco-friendly road marking products across developing countries is anticipated to propel the global road marking materials market growth. The increase in use of bio-based materials & government safety standards will opportunities for road marking materials market in the near future.
Conservative approach of road contractors is the main challenging factor which expected to hamper the global road marking materials market growth. Some road contractors prefer basic & low cost products while other contractors demand high performance solutions at low & competitive prices. This strategy may limit the growth of global road marking materials market during this forecast period.
The Global Road Marking Materials Market is segmented into type such as Paint Based Materials (Epoxy based, Water based, Solvent Based, and Polyurethane) and Performance Based Materials (Thermoplastics, and Cold plastics). Further, market is segmented into application such as Road Marking, Factory Marking, Car Park Marking, Antiskid Marking, and Airport Markings.
Also, Global Road Marking Materials Market is segmented on the basis of five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The Asia Pacific is expected to grow at the highest CAGR over the forecast period, due to the increase in demand for safer roads and the increase in investments in the construction sector enhance the demand for road marking materials in this region. Also, the growing urbanization across China and India is another factor expected to elevate the global road marking materials market growth during this forecast period.
Market key Players
Various key players are discussed in this report such as AUTOMARK INDUSTRIES (INDIA) PVT LTD, The Sherwin-Williams Company, SealMaster, Ozark Materials LLC, Kestrel Thermoplastics Ltd, Kataline Group, Geveko Markings, Ennis-Flint Inc., Dianal America Inc., Crown Technology LLC, etc.
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