Global Road Marking Materials Market Analysis: 2022-2028

Global road marking materials market analysis and insights

The global Road Marking Materials market estimated at US$6.21 billion in the year 2022 is now projected to grow at a CAGR of 8.89% and reach US$10.35 billion by 2028. This growth is driven by increase in spending on road safety, new road network development project launches, and rising demand from the infrastructure sector.

Providing consistent, reliable lane guidance in all conditions, day and night, wet and dry is a top priority for Traffic Engineers, Technology Officers, Department of Transportation Product Qualification Personnel, Pavement Marking Application Contractors, and anyone involved in the road planning and building process who aims to create safer, more mobile roads for the present and the future. This effort becomes more complicated with the increasing popularity of assisted driving systems that rely on sensors like optical cameras to keep vehicles positioned properly in the lane. As the percentage of vehicles equipped with these sensors grows, lane guidance systems need to work well with human- and machine-vision.

For many years, the challenge of providing road markings that can be seen at night has been improved with the use of retroreflective optics, including the addition of retroreflective glass beads to liquid road markings and the use of reflective sheeting on raised pavement markers (RPMs). These retroreflective optics are designed to return light from a vehicle’s headlights back to the driver, making the road markings visible at night.

As we look toward a future of vehicles with varying levels of automation – including vehicles equipped with advanced driver assistance systems (ADAS) and fully connected and autonomous vehicles (CAVs) – highly detectable, consistent and reliable pavement markings remain an important feature of the roadway, providing primary and redundant features that can be used to support these advanced features. Automated and autonomous vehicles rely on machine vision systems – networks of sensors and cameras providing input to a vehicle computer – the collected input provides situational awareness and may help the vehicle appropriately react to surroundings. For these systems to provide safe and effective lane departure warning and lane keep assistance, many benefit from pavement markings that are highly detectable, especially in challenging driving situations.

Road marking materials regional market insights

North American road marking materials market is expected to grow significantly over the 2022-2028 period. This growth is attributed to the increasing share of state and local governments spending for highways and roads. Also, rising number of autonomous vehicles in the region will drive the adoption of road marking materials. U.S. contributed around 78% of the total North American road marking materials market and is estimated to have a market value of US$1.67 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 8.03% and 6.72% CAGRs respectively over the forecast period.

Asia-Pacific road marking materials market is anticipated to witness an upsurge owing to the rapid industrialization and urbanization. Also, the increase in demand for safer roads and the increase in investments in the construction sector will enhance the demand for road marking materials in the region. China is expected to reach a market size of US$2.75 billion by 2028.

Within Europe, U.K., Germany, Italy and Spain are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 8.26% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Gulf Cooperation Council nations such as Qatar, U.A.E, Saudi Arabia and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include Asian Paints PPG Pvt. Limited; Aurora Projects Pty Ltd.; Basler Lacke AG; Crown Technologies LLC; Dow Inc.; Euragglo S.R.L.; Geveko Markings; Helios TBLUS, d.o.o.; Ingevity Corporation; Intergroup; Kelly Bros; Monarch Industrial Products (I) Pvt. Ltd.; LANINO TRAFFIC MARKINGS (Pty) Ltd.; Sherwin-Williams and SWARCO AG, among others.

Competitive Landscape

February 15, 2023 ˗ RoadVista announces their release of the next generation in pavement marking testing and measurement. The StripeMaster® 3 is the latest generation retroreflectometer for quantification of roadway and airfield pavement marking characteristics including retroreflectivity, daytime visibility, and night-time retroreflected color providing safety for drivers, pilots, automated vehicle functions, and to help agencies comply with the new MUTCD minimum retroreflectivity requirements for pavement markings.

February 01, 2023 – EZ Liner, a manufacturer of pavement striping equipment, has acquired Arrow Striping & Manufacturing, another manufacturer of performance-engineered pavement marking, surface prep, and removal equipment. This acquisition fits into EZ Liner’s strategy to offer a full line of equipment for pavement marking, surface preparation and removal, along with parts, service, used equipment, and training.

October 03, 2022 – Ingevity Corporation has completed its previously disclosed acquisition of privately-owned Ozark Materials in an all-cash transaction valued at $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.

Road marking materials market scope

• By product type
  • Paint-based markings
    • Water based paint
    • Solvent based paint
  • high-performance markings
    • Thermoplastic
    • Multi-component
      • Cold plastic
      • Epoxy paints
      • Methyl methacrylate (MMA)
  • Preformed adhesive tapes
  • Others

• By raw materials
  • Binders
    • Acrylic
    • Thermoplastic
    • Polyurethane
    • Epoxy
    • Phenolic
  • Colorant
    • Pigments
      • Organic
      • Inorganic
  • Solvents
    • Mineral spirits
    • Aromatic hydrocarbon
    • Ketones
    • Others
  • Additives
    • Primers
    • Thickeners
    • Surfactants
    • Anti-skid agent
    • Others
  • Glass beads
  • Filler

• By applications
  • Road & highway marking
    • Longitudinal markings
    • Transverse markings
    • Hazardous location markings
    • Others
  • Airport marking
    • Runway markings
    • Taxiway markings
  • Race tracks
  • Others

• By Region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The research report  provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.

Research Methodology