As the number of passengers increases, the need for parking and terminal markings is expected to provide greater impetus to the growth of the global marking material market.
According to the latest Arizton's market research report, the global marking material market size to reach USD 5.5 billion by 2025, growing at a CAGR of over 4% during the forecast period.
Global Marking Material Market Growth Analysis
The increase in investments in road and highway infrastructure is helping the growth of global marking material market across the globe. The aviation industry is experiencing significant growth for over a decade. The rise in the number of airports is due to the economic growth witnessed in the last decade in many developing economies, which is one of the factors driving the global marking material market. As the number of passengers increase, the need for parking and terminal markings are expected to provide greater impetus to the growth of the global marking material market.
What’s Trending in the Market?
- Several manufacturers of road marking materials are focusing on adding preformed tapes to their portfolios and cater to a niche segment.
- Almost 65% of road infrastructure projects in APAC, Europe, and North America region are expected to witness delays.
- Resins constitute around 50% of raw materials used in the manufacturing of marking materials.
On the cost side, due to limited state budget for road constructions, transport authorities make use of the bidding process to select materials for road construction. Undeniably, the lowest bid that meets all specifications would win the contract. Hence, a newer material with higher benefits but accompanying higher cost is not favored.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by material, end-user, and geography
- Competitive Landscape – 7 Key Company Profiles and 16 Other Prominent Vendors
Is APAC Leading the Global Marking Material Market?
The average rate of road construction in the APAC region has increased to over 25km per day. This growth in construction activities has created a sizeable demand for global marking material market. Several companies in APAC, have invested heavily in the modernization of road infrastructure. Surface transportation infrastructure budget allocation is among the top priorities in many countries of APAC. China is expected to improve the transport grid system by 2025. The system comprises 10 North-South and 10 East-West corridors linking and extending the main routes. Road freight volumes are expected to observe growth rate of over 50% between 2018 and 2040. The usage of marking materials at transportation stations is also projected to increase, particularly at railway stations and airports, which in turn, will boost the growth of the global marking material market.
Is the Global Marking Material Market Highly Competitive?
The global marking material market is highly competitive as the industry is characterized by low entry barriers as there is no requirement for any major technology or capital investment. With a major percentage of revenue spend on the procurement of raw materials, manufacturing capabilities are largely defined by the vendor’s accessibility to raw materials. Growth opportunities for regional and local players also exist as they target the lower or Tier-markets or cities by producing products at a cheaper cost. However, the competitive intensity is higher in the APAC due to a largely untapped market and growing investments in road infrastructure.
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