Asia Pacific Road Marking Materials Market Report Description:
Asia Pacific Road Marking Materials market report gives comprehensive outlook on Road Marking Materials across the countries with special emphasis on key countries such as Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea and Rest of Asia-Pacific. The report on Asia Pacific Road Marking Materials market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application and countries. This report studies Asia Pacific Road Marking Materials market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Asia Pacific Road Marking Materials market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Asia Pacific Road Marking Materials market to better equip clients with possible investment opportunities across the countries (countries Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Asia Pacific Road Marking Materials market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Asia Pacific Road Marking Materials products.
Asia Pacific Road Marking Materials Market:
The Asia Pacific Road Marking Materials market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors fueling the market growth include increase in spending for road safety, increasing application in airways and government safety standards. In addition, rising investments for roadway projects in developing countries create huge growth opportunity for the market. Moreover, the need to address problems such as traffic violations, traffic congestion, and road accidents are mainly driving the demand for road marking materials in the region. In APAC, countries have gradually accepted road safety measures, which is driving the demand for the market.
Increasing Concerns for Road Safety
Road markings provide direction to drivers and pedestrians in order to ensure lane driving. It also directs regulations for stopping and parking. There has been an increase in the number of traffic crashes. Yearly, traffic accidents kill more than 1.2 million people and injure up to 50 million people. According to a study, existence of center and edge markings on road can plunge down the rate of accidents by 20%. Government of several countries are continuously taking up initiatives to offer road safety, therefore favoring the market in a big way. The increase in number of such incidences has insisted the governments of numerous nations to increase their budget for road safety in current and future action plans.
For instance, in April 2018, President of Ghana, Akufo-Addo approved a new plan to deal with road accidents. An executive order has been sanctioned for the immediate implementation of an action plan to curb road accidents. Moreover, several countries are now approaching methods of road safety. Such factors are likely to increase the demand for road marking materials during the coming years, hence, giving the market a boost during the predicted period.
High Raw Material Prices to Hamper the Growth of the Asia Pacific Market
Apart from the positive side, the Asia Pacific market is faced by many challenges. One of the main restraint factor, discouraging the growth of the market is unstable raw cost materials like pigments, additives, and resins that are extracted from crude oil. Unstable Asia Pacific oil and gas industry owing to various political dispute has hindered the market growth.
China & India Accounts for Larger Market Revenue Share in Asia Pacific Road Marking Materials Market
China & India accounted for larger revenue share in Asia Pacific Road Marking Materials market with considerable CAGR. This is mainly due to the rapidly growing investments in roadway projects in emerging economies of the region, mainly in India and China. Rising awareness on safety coupled with urbanization in India and China is expected to lead the market over the forecast period. In October 2017, the Indian government approved the biggest highway construction 83,677 km of roads with an investment of 6.92 INR lakh crore by 2022. Hence, a rise in the number of such projects are expected to boost the demand for the market in the region.
Key player’s profiles in the Asia Pacific Road Marking Materials market include:
- Aximum (France)
- Crown Technology, LLC (US),
- Ennis-Flint, Inc. (US)
- Geveko Markings (Denmark)
- Ozark Materials LLC (US)
- Rembrandtin Lack GmbH Nfg. KG (Austria)
- SealMaster (US)
- 3M (US)
- SWARCO AG (Austria)
- The Sherwin-Williams Company (US)
Asia Pacific Road Marking Materials market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In July 2017, The Sherwin-Williams Company (US) acquired The Valspar Corporation (US). This acquisition has made the company one of the largest paints & coatings manufacturers.
Key Findings of the Report:
- Asia Pacific Road Marking Materials market expanding at significant CAGR over 2019 to 2025 owing to increased spending on safer roads.
- Based on type, paint-based markings segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Asia Pacific Road Marking Materials market
- Performance-Based Markings
- Cold Plastics
- Paint-Based Markings
- Solvent Based
- Airport Marking
- Antiskid Marking
- Factory Marking
- Parking Lot Marking
- Road & Highway Marking
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market