New York, United States , Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Road Marking Materials Market Size is expected to reach USD 9.97 Billion by 2032, at a CAGR of 4.5% during the forecast period 2022 to 2032.
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Road marking materials are used on paved roadways to direct and teach motorists and pedestrians. Consistent marker placement is crucial for eliminating confusion and enhancing traffic safety. Paints, thermoplastics, two-component resins, and prefabricated road markings, also known as tapes, are the four categories of road marking materials. Paint is the most often used road marking media around the world. Rising spending on roadway safety, as well as new transportation and other infrastructure projects in emerging economies, are the primary drivers of market expansion. Furthermore, rising traffic accidents worldwide as a result of poor road marking are pushing the government to adopt these goods. Furthermore, rising industrialization and higher manufacturing capacities have raised the demand for roadway marking materials. However, one of the key restrictions of the road marking materials market is the conventional posture of road contractors. Furthermore, the longer lifespan of road marking materials has restricted market expansion by increasing maintenance costs. Technological advancements, such as smart road marking systems, are projected to drive the market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the “Global Ultrasound Probe Disinfection Market Size, Share, and COVID-19 Impact Analysis, By Product (Instruments, Consumables, & Services), By Probe Type (Linear, Convex, & TEE (transesophageal echocardiography) Transducers), By Process (High-Level & Low-Level Disinfection), By End User (Hospitals and Clinics, Diagnostic Imaging Centers, & Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032.”
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The paint based marking segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global road marking materials market is segmented into the cold plastics, paint based marking, water based paints, solvent based paints, thermoplastics coating, performance based marking, and others. Among these, the paint based marking segment is dominating the market with the largest revenue share of 46.3% over the forecast period. Paint-based marking has grown in popularity due to its widespread use on roads. Furthermore, the low cost of paint is expected to drive this market throughout the forecast period.
The road & highway marking segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of application, the global road marking materials market is segmented into road & highway marking, antiskid marking, parking lot marking, factory marking, airport marking, and others. Among these, the road & highway marking segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Because they are employed on the largest part of the road markings industry, roads and highways, these markings are likely to dominate the market for road marking materials. Furthermore, increasing demand for water-borne thermoplastic coatings for protecting retro-reflectivity markings on roadways and parking spaces/lots is one of the key factors driving the market.
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North America led the largest market revenue share over the forecast period
Asia Pacific is dominating the market with more than 48.7% market share over the forecast period. The primary element impacting expansion throughout the region is an increase in construction activity in both the public and private sectors. The development of the building sector, in conjunction with numerous government programs and subsidies that assist construction and infrastructure operations, will also drive regional growth. China is one of the world's largest countries, with an extensive network of highways and roads. According to China's Ministry of Transport, the overall length of public roads in the country is around 5.28 million kilometres. The highway system has been expanding at a steady rate. Furthermore, the Government of India intends to build 65,000 km of national highways by 2024 at an estimated expense of around USD 741.51 billion. As a result of such large-scale initiatives, the market for road marking materials in the Asia Pacific region is predicted to rise significantly over the forecast period.
North America, on the contrary, is expected to grow the fastest during the forecast period. Increased residential and commercial infrastructure activity is encouraging the use of traffic road marking coatings. Furthermore, the availability of a major coating and paint industrial base is projected to support regional growth. Stringent road safety regulations, as well as consumer awareness, will drive the expansion of the region's road marking materials market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Road Marking Materials Market include Geveko Markings, Sherwin-Williams Company, SWARCO AG, Ennis-Flint, Inc., Evonik Industries, Automack Technologies, SealMaster, PPG Industries Inc., 3M, Asian Paints Ltd, Roadmarking Industry Association of Australia, TATU Traffic Group, Hempel, Nippon Paint Holdings Co. Ltd., Helios TBLUS d.o.o, and among others.
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Recent Development
On October 2022, Ingevity Corporation announced the completion of its previously announced $325 million all-cash acquisition of privately held Ozark Materials. Ozark Materials is a well-known manufacturer of pavement marking materials such as thermoplastic pavement markings, waterborne traffic paints, and preformed thermoplastics. Ozark Logistics, which primarily provides transportation support for the materials industry, is included in the deal.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Ultrasound Probe Disinfection Market based on the below-mentioned segments:
Global Ultrasound Probe Disinfection Market, By Product
- Instruments
- Consumables
- Services
Global Ultrasound Probe Disinfection Market, By Probe Type
- Linear
- Convex
- TEE Transducers
Global Ultrasound Probe Disinfection Market, By Process
- High-Level
- Low-Level Disinfection
Global Ultrasound Probe Disinfection Market, By End User
- Hospitals and Clinics
- Diagnostic Imaging Centers
- Others
Ultrasound Probe Disinfection Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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