Market Introduction
Road markings are crucial in ensuring 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, would 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.
Market Overview and Dynamics
The road marking material 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. Factors driving the market growth include increase in roadway safety standards and government regulations, and adoption of better technologies. However, stringent regulations related to solvent-based road markings restrain market growth.
Key Market Segments
The paint-based markings segment held the largest share in the Europe road marking material market, by type, in 2018. Further, the road and highway marking segment held the significant share of the Europe market, by application, in 2018.
Impact of COVID-19
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials is one of the major industries in the world facing serious disruptions such as supply chain breaks, 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 overall market breakdown due to COVID-19 is also affecting the growth of the road marking material market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
Major Sources and Companies Listed
A few of the major primary and secondary sources for road marking material market associated with the report are Road Safety Markings Association (RSMA), EuroRAP, German Road Markings Association, Road Federation Belgium, and others. The major companies operating in the market are 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, among others.
Reasons to Buy Report
EUROPE ROAD MARKING MATERIAL MARKET SEGMENTATION
By Type
By Application
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1,465.55 Million |
| Market Size by 2027 | US$ 2,482.63 Million |
| CAGR (2019 - 2027) | 6.1% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Road Marking Material Market is valued at US$ 1,465.55 Million in 2018, it is projected to reach US$ 2,482.63 Million by 2027.
As per our report Europe Road Marking Material Market, the market size is valued at US$ 1,465.55 Million in 2018, projecting it to reach US$ 2,482.63 Million by 2027. This translates to a CAGR of approximately 6.1% during the forecast period.
The Europe Road Marking Material Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Road Marking Material Market report:
The Europe Road Marking Material Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Road Marking Material Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Road Marking Material Market value chain can benefit from the information contained in a comprehensive market report.
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