Asia Pacific Road Marking Paint Market Size
The Asia-Pacific Road Marking Paints market size was worth USD 1,009.72 million in 2022 and is estimated to reach USD yy million by 2030, growing at a CAGR of 4.49% during the forecast period 2024-2031.
Road marking paint is made up of three main components: pigments, binders, and solvents. These are generally of 3 types: thermoplastic, solvent-based and water-based road marking paint. It is used to mark travel lanes, mark spaces in parking lots or special purpose spaces for disabled parking, loading zones, or time-restricted parking areas. It can be used in different colours based on the applications vary by locality. Road marking paints have been gaining importance because they are made of reflective materials, which make it easier for travellers to drive on the road at the time of poor visibility, they indicate the danger zones, help in avoiding over speeding and provide more road attractive roads. Thermoplastic is one of the most common types of road marking paint, and it is applied on the road by a hot melt kettle, which melts the powder. The coating then becomes hard, bright, and reflective after cooling makes it suitable for use on highways and roads.
Market Summary
| Metrics | Details |
| Market CAGR | 4.49% |
| Segments Covered | By Type, By Applications, By Marking Machines and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Asia Pacific Road Marking Paint Market Dynamics
Increased Spending on New Road Construction Projects Coupled with Growing Repainting of Existing Roads is one of the major drivers of the Asia-Pacific Road Marking Paints Market. At present, the road and its related construction projects in Asia-Pacific are valued around USD 1.38 trillion, which includes projects from the announced to execution stages. China accounts for a large share of the regional total, with an overall pipeline totalling USD 643.1 billion, ahead of India with a pipeline of USD 234.6 billion. In addition, several new road projects are being planned in China’s Yunnan Province and Guizhou Province. For Instance, a new expressway will connect Chengjiang and Huaning, featuring a design speed of 100 km/h. The 63.3 km expressway project will cost an estimated USD 1.86 billion. Plans are being drawn up for a new expressway connecting Guangnan Nasa with Xichou Xingjie, with the construction work estimated at USD 1.61 billion. The link will measure close to 59 km in length and will have a design speed of 80 km/h. The project will require 36 months of construction time and is being handled under the PPP model, with the package being for a period of 33 years including the time needed to build the route.
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 the 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 Southeast 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 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 the raw material of road marking materials market:
The Southeast 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.
Why Purchase the Report?
- Visualroad marking segmentation Asia-Pacific Road Marking Paints market segmentation by type, applications, marking machines and region, highlighting the key commercial assets and players.
- Identify commercial opportunities in the Asia-Pacific Road Marking Paints market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of Asia-Pacific Road Marking Paints market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The Asia-Pacific Road Marking Paints market report would provide access to an approx: 63 market data table, 53 figures and 180 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
