High-Performance Pavement Marking Materials Market is Forecasted to Reach US$ 2.2 Billion in 2027, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global high-performance pavement marking materials market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more

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Market Statistics:

Market Size in 2027: US$ 2.2 billion

Growth (CAGR): 4.3% during 2022-2027

Leading Product Type: Thermoplastics

Leading Application Type: Roads & Highways

Leading Region: Asia-Pacific

Forecast Period: 2022-2027

Trend Period: 2016-2020

Base Year: 2021

Number of Segments Covered: 3

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the High-Performance Pavement Marking Materials Market:

The global high-performance pavement marking materials market is segmented based on product type, application type, and region.

Based on product type – The high-performance pavement marking materials market is segmented into thermoplastics, 2-components, and tapes. Thermoplastics remained the most popular materials and are likely to remain the dominant and fastest-growing product type in the market during the forecasted period. They are a cost-efficient marking material, which is available at a relatively low cost than tapes and plural-components marking materials. Their increasing adoption is expected to support their dominance in the coming years, due to their low cost, high durability, and good retro-reflectivity. Gravity extrusion, ribbon application, and spraying are some of the methods used for their applications.

Based on application type - The market is segmented into roads & highways, airport marking, parking lots, and others. Roads & highways are expected to remain the biggest demand generators for high-performance pavement marking materials during the forecast period. Different types of markings, which include longitudinal marking, transverse marking, hazard marking, block marking, an arrow marking, and directional marking, are shown using high-performance pavement marking materials on streets and highways. A growing road network coupled with the growing concern toward road safety to mitigate fatal accidents would add a stir to the growth of the segment over the forecast period.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest and fastest-growing region in the market for high-performance pavement marking materials during the forecast period. This growth outlook is majorly attributed to the following–

·      Owing to the region's largest share of the global road network, with major contributors including China, India, Japan, and Australia. Various government plans, such as China National Highway Network Planning (2013-2030) to expand the Chinese road network and the Indian government's plan to add 80 new airports by 2025, would generate new opportunities for the market participants.

·      Increasing road networks and improving road connectivity in the region, along with the growing focus of regional governments on the maintenance and repair of roads, would support the growth of the market in the region.

·      In addition, various countries in the region are taking innovative initiatives to increase road safety by investing in new types of high-performance pavement markings. For instance, recently, the Australian government has introduced photo-luminescent markings on their roads that shine in the dark.

High-Performance Pavement Marking Materials Market Drivers:

Some of the key drivers listed in the report are given below.

·      Stringent regulations on VOC emissions

·      Government programs for the procurement of environmentally friendly materials

·      Evaluation and implementation of an increase in the width of longitudinal traffic lines and length of skip lines.

Top Companies in the High-Performance Pavement Marking Materials Market:

The market is highly populated with the presence of several local, regional, and global players. Major players in the market are strengthening their presence in key markets around the world by building new partnerships; opening new manufacturing and distribution sites; and acquiring several local players in the market. For instance, Swarco acquired Hitex International to strengthen its position in the UK market, whereas Geveko Markings acquired a French player, Ore Peinture to further expand its presence in the European market. A few years ago, Geveko Markings also acquired Asia-Pacific companies Flexitherm Australia and Reflective Road Safety Products Ltd. to mark its presence in the region’s market. Stratview Research has identified the following companies as the top market players:

• Ennis Flint, Inc. (PPG Industries, Inc.)
• 3M
• Geveko Markings (The Solix Group AB Company)
• SWARCO
• Nippon Paint
• Aximum S.A. (Colas Group)
• Kansai Helios
• Landscapus Inc.
• Zhejiang Tiancheng Transportation Technology Co., Ltd.
• Shanxi Zhongtu Traffic Technology Co., Ltd.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

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Related Reports:

-      Pavement Marking Materials Market

-      Coding and Marking Equipment Market

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