Heavy Investments in Road Safety to Benefit 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%.

Sherwin-Williams Company (US), Ennis-Flint, Inc. (US), SWARCO AG (Austria), Geveko Markings (Denmark), and SealMaster (US), among others, are the key players operating in the road marking materials market.

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.

APAC road marking materials market is projected to witness the highest CAGR during the forecast period.

The road marking materials market has been studied for Europe, North America, APAC, the Middle East & Africa, and South America. The APAC road marking materials market is projected to register the highest CAGR during the forecast period. The need to address issues such as traffic congestion, traffic violations and road accidents are majorly driving the demand for road marking materials in the region. In APAC, Japan and other countries are increasingly adopting road safety measures, which is driving the demand for road marking materials.

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