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.
The Europe Road Marking Material market is growing along with the Chemicals and Materials industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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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.These factors are expected to offer broad growth opportunities in the Chemicals and Materials industry and this is expected to cause the demand for Europe Road Marking Material in the market.
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Europe Road Marking Material Market – MARKET SEGMENTATION
- Performance-Based Markings
- Paint-Based Markings
- Road and Highway Marking
- Parking Lot Marking
- Factory Marking
- Airport Marking
- Airport Marking
- United Kingdom
- Rest of Europe
- The 3M Company
- Aximum S.A.
- Asian Paints Limited
- Ennis-Flint, Inc
- Geveko Markings Inc.
- SWARCO AG
- The Sherwin-Williams Company
- Helios Group
- Evonik Industries AG
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