Report : Europe Road Marking Material Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Performance-Based Markings and Paint-Based Markings); Applications (Road and Highway Marking, Parking Lot Marking, Factory Marking, Airport Marking, Antiskid Marking and Others); and Country
Increased prominence of road markings in Lane Departure Warning Systems (LDWS) to escalate road marking material market growth at CAGR of 6.1% during 2019–2027
According to our latest market study on "Road Marking Materials Market to 2027 – COVID 19 Impact and Europe Analysis and Forecast by Type (Performance-Based Markings, Paint-Based Markings); Applications (Road and Highway Marking, Parking Lot Marking, Factory Marking, Airport Marking, Antiskid Marking, Others), and Country," the market was valued at US$ 1,465.55 million in 2018 and is projected to reach US$ 2,482.63 million by 2027; it is expected to grow at a CAGR of 6.1% from 2019 to 2027. The report highlights key factors driving the market growth, and prominent players and their developments in the market.
Road markings are crucial for road safety. These materials are used to provide visible signs on streets, motorways, driveways, parking areas, airfields, and many other areas. Such markings help signify any delineation of traffic path as well as ensure safe, smooth, and orderly movement of traffic. They also act as a tool for controlling and warning the road users about their road safety. The rise in focus toward road safety, coupled with the increased investments in better road infrastructural facilities and technological advancements such as skid resistance and retro reflectivity, is expected to propel the growth of the road marking materials in Europe in the coming years. These marking materials are mainly classified into two types: performance-based and paint-based markings.
Lane departure warning systems (LDWS) are effective countermeasure against road fatalities and crashes, which may occur due to driver’s distraction or inattentiveness. Several types of technologies such as laser, magnetic sensing, active wire guidance, and image recognition are deployed with LDWS. These systems depend on road markings to ensure that vehicles do not perform unintended drifts beyond travel lanes. LDWS are known to possess the capability to process marked or unmarked roads, and they can detect painted lines on roads to avoid any deviation in driving. Image-based LDWS deploy the use of image recognition software that evaluate the images collected by a small camera to track the road markings and to understand any unintentional vehicular drifts. For instance, the LDWS alerts the drivers with the help of an audible, visual, and/or tactile warning signal if the vehicle unintentionally begins to deviate from the lane. In Europe, the automotive manufacturers have developed and deployed a range of systems, which have the capability to read road markings. Moreover, in “Roads that Cars Can Read,” a study published in 2011, EuroRAP and EuroNCAP discussed the need to set up efficient road markings systems, which could be visible by driver. The paper also analyzed the importance of alignment of road markings with the LDWS technology to minimize casualties. Other than this, in December 2011, the German Automobile Club ADAC published a report related to road safety and road markings on rural roads. The report identified the importance of good road markings systems, which may reduce the number of accidents, especially when combined with automatic lane departure warning technology. However, the performance of LDWS systems is highly dependent on the clarity and visibility of these road markings, which drives the significance of refurbishing and renovating the road markings as and when required.
The COVID-19 has been affecting economies and industries in various countries such as China, Italy, Iran, Spain, the Republic of Korea, and France. Chemicals and materials is among the major industries in the world that are suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the global hub of manufacturing and largest raw material supplier for various industries, and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, and sales of various chemicals and materials.
The global road marking material market is concentrated with a few well-established players such as The 3M Company, Aximum S.A., Asian Paints Limited, Ennis-Flint, Inc., Geveko Markings Inc., SealMaster, SWARCO AG, The Sherwin-Williams Company, Helios Group, and Evonik Industries AG.
Global Road Marking Material Market Breakdown - by Region, 2018
The report includes the segmentation of the Europe road marking material market as follows:
Europe Road Marking Material Market, by Type
- Performance-Based Markings
- Paint-Based Markings
Europe Road Marking Material Market, by Application
- Road and Highway Marking
- Parking Lot Marking
- Factory Marking
- Airport Marking
- Airport Marking
Europe Road Marking Material Market, by Country
- Rest of Europe