Road Marking Materials Market Poised to Account for $7.5 billion Revenue by 2025- Exclusive Report by MarketsandMarkets™
Road marking materials are those that are used to mark roads and other surfaces in order to provide traffic guidance and safety. They are commonly used to demarcate lanes, curbside parking, and other areas of the road. Hot-applied thermoplastic, cold-applied thermoplastic, and preformed tape are the most commonly used materials for road marking. The growing number of vehicles on the road, as well as the need for efficient and safe roadways, are driving up demand for road marking materials. The use of these materials helps to reduce accidents, improve traffic flow, and make roads more visible. The materials are used in a wide range of applications, including highways and motorways, as well as residential neighbourhoods and business districts. They’re also used on building sites, airports, and parking lots.
The road marking materials market is projected to grow from USD 6.1 billion in 2020 to USD 7.5 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. The major reasons for the growth of the road marking materials market include increased spending on safer roads, and new infrastructure and roadway projects in emerging economies. These factors are responsible for driving the demand for road marking materials market.
Get PDF Brochure for Research Insights at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=13285598
According to estimates, the Asia Pacific region will be the fastest-growing region in the global road marking materials market. This can be attributed to increased infrastructure development investments in countries such as India, China, Vietnam, and Indonesia. Furthermore, rising government initiatives to promote road safety, as well as rising demand for improved road infrastructure, are expected to drive demand for road marking materials in this region. Furthermore, the presence of several manufacturers in the region is expected to fuel the growth of the region’s road marking materials market.
Companies such as The Sherwin-Williams Company, Ennis-Flint, Inc., SWARCO AG, Geveko Markings, and SealMaster, fall under the winners’ category. These are leading players in the road marking materials market, globally. These players have launched various new products, entered into various deals, and adopted several other strategies, to strengthen their presence in the global market.
The Sherwin-Williams Company is the leading player in the global road marking materials market and is estimated to have the highest share in the market. In July 2017, The Sherwin-Williams Company completed the acquisition of The Valspar Corporation (US), This acquisition has made the company one of the largest paints & coatings manufacturers, globally.
Share Your Requirements & Get Customized Reports at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=13285598
Another important player in the global road marking materials market is Ennis-Flint, Inc.
In October 2020, Ennis-Flint, introduced its newest range of high-friction surfacing products designed for all weather conditions, under the product names of MMAXGRIP PRMX 45, and MMAXGRIP PRMX 65. MMAXGRIP is a versatile, thin MMA coating that enhances car resistance to abrasions and sliding on all road types. It is developed to assist road users in important braking areas such as approaching traffic lights, thin or hazardous bends, junctions, bike lanes, pedestrian crossing areas, and roundabouts. The newest product range, MMAXGRIP is designed to improve the slow down rate of any vehicle faced with the sudden need to stop, reduce the likelihood of skidding, and reduce the speed and distance of braking in well-trafficked or quiet road areas. MMAXGRIP is expected to assist in improving vehicle steering response and grip on sharp turns or steep hills where vehicle traction is important.
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/road-marking-material-market-13285598.html
