Increased Prominence of Road Markings in Lane Departure Warning Systems is an opportunity for the Road Marking Materials Market
The Road Marking Materials Market
size is expected to grow from USD 6.8
billion in 2018 to USD 8.8 billion by 2023, at a CAGR of 5.2%. The global
road marking materials market is expected to be driven by various factors such
as increased spending for safer roads and new infrastructure and roadway
projects in emerging economies. With the increased use of road markings in lane
departure warning systems (LDWS) in vehicles, the road marking materials market
is expected to grow rapidly in the near future.
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The global road marking materials market is expected to be
driven by various factors such as increased spending for safer roads and new infrastructure
and roadway projects in emerging economies. With the increased use of road
markings in lane departure warning systems (LDWS) in vehicles, the road marking
materials market is expected to grow rapidly in the near future.
Various countries have introduced road safety laws and
standards to ensure safety and security for the people, as well as road
infrastructure. Major road marking material players have
turned to consolidation as their key strategy to further consolidate their
positions in this market, thus, leading to various acquisitions in the.
The key players operating in the road marking materials
market are the Sherwin-Williams Company (US), Ennis-Flint, Inc. (US), SWARCO AG
(Austria), Geveko Markings (Denmark), SealMaster (US), 3M (US), Aximum
(France), Rembrandtin Lack GmbH Nfg. KG (Austria), Crown Technology, LLC (US),
and Ozark Materials LLC (US).
The
Sherwin-Williams Company is the largest player in the market. In July 2017, the
company acquired The Valspar Corporation, a key manufacturer of paints &
coatings, globally. It offers the complete traffic marking solutions with high
quality and durable products and has a strong customer base, globally. The company
has a strong presence worldwide, especially, in North America and Europe. In
July 2017, The Sherwin-Williams Company (US) completed the acquisition of The
Valspar Corporation (US). This acquisition has made the company one of the
largest paints & coatings manufacturers.
Ennis-Flint, Inc. (US) is the
second-largest player in the market. The company produces a broad range of
traffic paints in water-based and solvent-based formulations. It has over 20
manufacturing and distribution locations, supplying to more than 90 countries,
globally. It recently acquired the materials manufacturing business of VERNISOL
SPA (Italy), a key player of traffic paints and MMA/cold plastics.
VERNISOL
provides high-quality and reliable products for road safety application and has
proven technical knowledge and expertise in traffic paints and MMA/cold
plastics. This acquisition is expected to benefit the existing product
portfolio of Ennis-Flint. In September 2016, Ennis-Flint (US) company
constructed two manufacturing facilities in the US. These production facilities
will produce glass beads and hot-applied thermoplastic for road marking
application.
Geveko Markings (Denmark) maintains its
key position, especially in Europe, by introducing high-performance road
marking materials. In April 2018, the
company acquired Adbruf Ltd. (UK). This acquisition is expected to benefit the
company’s revenue and road marking materials, decorative materials, and resin
pavement surfacing offerings.
Reference:
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