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%.
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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.
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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.
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