Airport markings segment is estimated to be the fastest-growing segment of road marking materials market

 

The Road Marking Materials Market  is projected to grow from USD 6.1 billion in 2020 to USD 7.5 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. The major reasons for the growth of the road marking materials market include increased spending on safer roads, and new infrastructure and roadway projects in emerging economies, which in-turn act as driving factors for growth of road marking materials market.

COVID-19 Impact on the Global Road marking materials Market

The pandemic is estimated to have a significant impact on various factors of the value chain of road marking materials, which is expected to reflect during the time period of especially in the year 2020-2021. The various impact of COVID-19 are as follows:

Impact on construction of new facilities: The imposition of COVID-19 lockdowns across the world, has led to many delays in various construction projects globally. For instance the construction of the Silk Route, a high investment project of China, has been witnessing many delays due to the travel restrictions and lockdowns in the South-east Asia region. Also, factors like, delays, loss of efficiency, and cost impacts because of the pandemic are estimated to deter construction activities in many parts of the world. However, relief measures are provided for the middle market and large businesses in the construction industry.

Impact on non-residential construction: Due to the impact of COVID-19, reverse migration and disruption of supply chains, among others are some of the multiple consequences which the construction sector is expected to face. Despite all these factors, the heavy & civil engineering construction sector resumed its activities. For instance, as per the he Ministry of Road Transport and Highways (India) highway construction in the country dropped to 18 km per day as labourers were optimally employed to complete the highways with minimal hindrance. This is estimated to positively impact the road marking materials market in India. Similar is the case in Turkey as well, wherein many roadways and construction projects have been awarded in the year 2020, in-order to revive the economy from the negative impacts of COVID-19

Impact on raw material of road marking materials market: The South-east Asian nations like Singapore, Thailand, and China are some of the major exporters of resins like polyurethane, epoxy and others which are used to manufacture road marking materials. Hence, the lockdowns imposed by various European and Asian countries have severely impacted the raw material supply chain of the road marking materials market, on a global level.

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By type, the paint-based markings segment is estimated to dominate the global road marking materials market

By type, the paint-based markings segment of the road marking materials market is estimated to dominate the global road marking materials market due to their cost-effectiveness and efficient performance. These markings generate high demand due to their retro-reflective glass beads and are generally used to denote travel lanes or mark parking spaces. These factors are expected to drive the road marking materials growth in the type segment.

By application, airport markings segment is estimated to be the fastest-growing segment of road marking materials market from 2020 to 2025.

By application, the airport markings application segment is projected to growth with the highest CAGR in the global road marking materials market, during the forecast period. The high growth of the airport marking application segment is primarily due to the significance of airport safety. These markings guide airplanes coming into and going out from a runway or taxiway, provide situational awareness, provide an essential visual aid to authorities, and promote overall airfield safety. These factors are estimated to drive the growth of airport markings segment in the road marking materials market during the forecast period.

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