Road Marking Materials Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.02 Billion |
| Market Size (2029) | USD 8.63 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Road Marking Materials Market Analysis
The Road Marking Materials Market size is estimated at USD 7.02 billion in 2024, and is expected to reach USD 8.63 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
The market was negatively impacted due to the COVID-19 pandemic in 2020 due to strict lockdown measures across major cities that suspended road construction activities. However, the sector is recovering well since restrictions were lifted. Increased spending on road safety, new project launches, and rising demand from the infrastructure sector all led to the market recovery over the last two years.
- Over the short term, rising road network development projects in developing countries and increasing concern for road safety are some of the factors stimulating the market demand.
- On the flip side, strict environmental regulations may restrict the market's growth.
- Increasing the width of pavement markings will likely create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market and will likely witness the highest CAGR during the forecast period.
Road Marking Materials Market Trends
Increasing Usage in the Road Markings Segment
- Road marking materials are used for road signalization when applied on the road with or without anti-skid aggregates and with or without dropped-on glass beads. It is mentioned on the product with indications on types and proportions of dropped-on glass beads and/or anti-skid aggregates.
- The longitudinal marking is generally provided along the traffic movement. The broken, single/double continuous, and continuity lines are classified under longitudinal marking.
- Marking across the carriage for traffic control with broken lines, single/double continuous lines such as Stop marking and Give Way marking are classified under Transverse Marking (TM).
- The rising global investment in road infrastructure will likely boost the demand for road marking materials. As of January 2022, new highway construction in India was recorded at 40 km per day. The Ministry of Road Transport and Highways aggressively worked toward creating new highway construction records in the country.
- In Germany, the Ministry of Transport and Digital Infrastructure is planning to invest USD 299 million in future technologies, such as electric mobility or automated and networked driving for electric vehicle charging infrastructure. It, in turn, is further expected to increase the consumption of marking materials from parking places and highways. Furthermore, Germany started working on the A49 highway project connecting Schwalmstadt and the Ohmtal interchange in Central Hesse. This project is based on the public-private partnership model with an investment of USD 698 million for road construction and is expected to be completed in the third quarter of 2024.
- In March 2023, Construction Europe stated that Europe is investing significantly in road construction projects valued at around EUR 448 billion (USD 487.23 billion) and nearly EUR 182.8 billion (USD 198.81 billion) in the execution stage. Russia is leading in the total investment of road construction projects with EUR 61 billion (USD 66.34 billion).
- Therefore, these road construction projects in various countries are expected to drive the demand for road marking materials during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market, and China is the largest economy in terms of GDP in this region. China and India are among the fastest emerging economies in the world. The increasing concerns for road traffic safety recently led to increased demand for road marking materials to ensure lane driving.
- China is one of the largest countries in the world, with a vast network of roads and highways. As per the Ministry of Transport of China, the country's total length of public roads stretches for about 5.28 million km. The road network is constantly increasing at a steady pace. The national road network will comprise 461,000 km of safe and intelligent roads by 2035. China will also include 299,000 km of highways and 162,000 km of expressways by 2035.
- China also initiated the Belt and Road Initiative (BRI), joining other European countries, Asia, the Middle East, Latin America, and Africa to enhance regional connectivity with road and rail constructions. The project includes a target completion date of 2049. The cost of BRI is projected to reach USD 1.2-1.3 trillion by 2027. All such expansions and the regular maintenance of roads and highways attract significant demand for road marking materials in the country.
- The Government of India aims to construct 65,000 km of national highways costing around USD 741.51 billion by this year. Andhra Pradesh will spend USD 296.05 million to build 8,970 km of roads. With further transformations in road infrastructure in Punjab, Haryana, and Rajasthan, the Indian government plans to construct roads extending 313 km for USD 1.48 billion. Along with such initiatives, the government, under the Union Budget 2022-23, allocated USD 26.04 billion to the Ministry of Road Transport and Highways.
- The road network in Japan adds up to a length of more than 1.28 million km, including thousands of bridges and tunnels due to its geographical demography. Roads in the country contribute to economic activities and are indispensable for natural disaster relief.
- Due to such large-scale projects, the demand for road marking materials is expected to increase substantially in the coming years.
Road Marking Materials Industry Overview
The road marking materials market is partially fragmented in nature. Some major companies in the market include The Sherwin-Williams Company, PPG Industries, Helios TBLUS d.o.o., BASLER LACKE AG, and Ingevity (not in any particular order).
Road Marking Materials Market Leaders
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Helios TBLUS d.o.o
-
PPG Industries Inc.
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The Sherwin-Williams Company
-
Ingevity
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BASLER LACKE AG
*Disclaimer: Major Players sorted in no particular order
Road Marking Materials Market News
- October 2022: Ingevity Corporation completed the acquisition of privately owned Ozark Materials in an all-cash transaction valued at USD 325 million. Ingevity expects the acquisition to be immediately accretive to Ingevity's earnings per share. The business will be included in Ingevity's Performance Chemicals segment.
- January 2022: Geveko Markings was acquired and started operating with French road marking paint and safety materials manufacturer Oré Peinture. The acquisition led to the expansion of Geveko Markings' operation in France and overall assets and production capacity.
Road Marking Materials Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Rising Road Network Development Projects in Developing Countries
- 4.1.2 Increasing Concern For Road Safety to Augment the Demand For Road Marking Materials
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4.2 Restraints
- 4.2.1 Strict Environmental Regulations to Restrict the Demand Growth
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Type
- 5.1.1 Polymer-based Markings
- 5.1.1.1 Thermoplastics
- 5.1.1.2 Cold Plastics
- 5.1.1.3 Preformed Adhesive Tapes
- 5.1.1.4 Raised Pavement Markers
- 5.1.2 Paint-based Markings
- 5.1.2.1 Solvent-based
- 5.1.2.2 Water-based
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5.2 Application
- 5.2.1 Road Markings (Roads and Highways)
- 5.2.2 Factory and Warehouse Markings
- 5.2.3 Car Park Markings
- 5.2.4 Airport Markings
- 5.2.5 Other Markings (Sports, Leisure, Etc.)
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Automark Industries (India) Pvt. Ltd
- 6.4.3 BASF SE
- 6.4.4 BASLER LACKE AG
- 6.4.5 Crown US, LLC
- 6.4.6 Dianal America Inc.
- 6.4.7 Geveko Markings
- 6.4.8 Helios Tblus d.o.o.
- 6.4.9 Ingevity
- 6.4.10 Kataline Group
- 6.4.11 Kelly Bros
- 6.4.12 Kestrel
- 6.4.13 PPG Industries Inc.
- 6.4.14 Sealmaster
- 6.4.15 Swarco
- 6.4.16 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increase in the Width of Pavement Markings
Road Marking Materials Industry Segmentation
Road marking is the application of paints or materials on road surfaces, pavements, concrete, or asphalt to communicate information to motorists and pedestrians. Road markings can be applied to various surfaces on roads and highways, pavements, airfields, car parks, racetracks, sports courts, and leisure complexes. Depending on the country, region, and purpose, road markings use a standard system of lines, colors, and marks to convey directions, lanes, zones, speed limits, parking, stopping, and safety. The road marking materials market is segmented by type, application, and geography. By type, the market is segmented into polymer-based markings and paint-based markings. By application, the market is segmented into road markings, factory and warehouse markings, car park markings, airport markings, and others. The report also covers the market size and forecasts for the road marking materials market in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD).
| Type | Polymer-based Markings | Thermoplastics |
| Cold Plastics | ||
| Preformed Adhesive Tapes | ||
| Raised Pavement Markers | ||
| Type | Paint-based Markings | Solvent-based |
| Water-based | ||
| Application | Road Markings (Roads and Highways) | |
| Factory and Warehouse Markings | ||
| Car Park Markings | ||
| Airport Markings | ||
| Other Markings (Sports, Leisure, Etc.) | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Road Marking Materials Market Research FAQs
How big is the Road Marking Materials Market?
The Road Marking Materials Market size is expected to reach USD 7.02 billion in 2024 and grow at a CAGR of 4.20% to reach USD 8.63 billion by 2029.
What is the current Road Marking Materials Market size?
In 2024, the Road Marking Materials Market size is expected to reach USD 7.02 billion.
Who are the key players in Road Marking Materials Market?
Helios TBLUS d.o.o, PPG Industries Inc., The Sherwin-Williams Company, Ingevity and BASLER LACKE AG are the major companies operating in the Road Marking Materials Market.
Which is the fastest growing region in Road Marking Materials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Road Marking Materials Market?
In 2024, the Asia Pacific accounts for the largest market share in Road Marking Materials Market.
What years does this Road Marking Materials Market cover, and what was the market size in 2023?
In 2023, the Road Marking Materials Market size was estimated at USD 6.74 billion. The report covers the Road Marking Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Road Marking Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Road Marking Materials Industry Report
Statistics for the 2024 Road Marking Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Road Marking Materials analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
