Road Marking Paints and Materials Market Value Is Expected To Increase At A CAGR Of Around 6.5% During The Period Of 2022-2032According to Fact.MR, a market research and competitive intelligence company, the Global Road Marking Paints and Materials Market will grow at a CAGR of 6.5% through 2032, reaching a worth of US$ 12.2 billion. Performance-based road marking paints and materials are likely to dominate the market by type.
Road marking goods are used on streets and walkways to give people, automobiles, and vehicles with direction, warnings, and information. The uniformity of road marking paints and materials is critical for reducing traffic confusion and increasing public safety. Companies are continuing to develop retroreflective technology, which allows Road Marking Paints and Materials to survive for many years. They are also focusing on long-lasting goods that make installation less expensive.
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According to Fact.MR, a market research and competitive intelligence provider, worldwide consumption of Road Marking Paints and Materials has increased at a CAGR of around 5.1% during the previous half-decade. Rapid industrialisation has increased demand for Road Marking Paints and Materials, as well as increased manufacturing capacity.
Because of its extensive use on roads, paint-based marking has gained in favor. Furthermore, the cheap cost of paint is predicted to drive this industry for the foreseeable future. Epoxy paints used in paint-based marking have gained popularity in recent years because to their excellent adhesive properties and low dirt pick-up rate.
In October 2021, Swarco, an Austrian transportation technology company announced the acquisition of Hitex, a Road Marking Paints and Materials provider. With this acquisition, Swarco expects to enter the Road Marking Paints and Materials market in the U.K.
In January 2021, A European private equity firm THI Investments announced that it has gained a majority stake from WJ Group, a provider of specialty highway goods and services including Road Marking Paints and Materials.
• SHERWIN-WILLIAMS COMPANY
• ENNIS-FLINT, INC.
• SWARCO AG
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Road Marking Paints and products are predicted to expand in value in Asia Pacific during the next projection period, owing to increased use of these products in civil construction projects.The major reasons for increased road marking use in Asia Pacific include factors such as rising demand for safer roads and government funding in the development of such materials. During the forecast period, these factors are expected to enhance sales of Road Line Marker Paints and Materials in the Asia Pacific region.
Increased highway safety regulations and legislative constraints in North America and Europe have increased market demand. Furthermore, in these countries, skid-resistant technologies have emerged as prospective market drivers. Rapid industrialisation is also predicted to drive up market demand in developing countries.
Key Segments of Industry:
• By Type :
o Paint Based Materials
o Performance-Based Materials
• By Application :
o Road and Highway
o Parking Lot
o Other Applications
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