What is Road Marking Resins Market?
Road marking resign provides heat stability & flow characteristics and highly suggested for use in both hot-melt road marking paints and cold plastic road marking. It is produced with gum resign and other raw material. It is used as thermoplastic road marking materials. There is the various benefit of using road making resign such as abrasion resistance for longer wear, stable performance in hot and cold weather, consistent viscosity and thermal stability, correct light-reflecting values, among others.
The market study is being classified by Type (Waterbased, Solvent Based and Two-Component), by Application (Hot-Melt Road Marking and Cold Plastic Road Marking) and major geographies with country level break-up.
The 3M Company (United States), Sherwin-Williams (United States), Swarco AG (Austria), Nippon Paint Holdings Co Ltd (Japan), Ennis Paint, Inc. (United States), Exxon Mobil Corporation (United States), Helios Coatings GmbH (Austria), Kraton Corp (United States), Silikal GmbH (Germany), Kolon Industries Inc. (South Korea) and Conier Chem & Pharma Limited (China) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Foreverest Resources Ltd. (China).
The market is highly fragmented with the presence of various players in the market. The 3M Company (United States), Sherwin-Williams (United States), Swarco AG (Austria), among others are some of the major players which are operating in the market. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Road Marking Resins market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Road Marking Resins market by Type, Application and Region.
On the basis of geography, the market of Road Marking Resins has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Spending on Safer Roads across the World
- New Infrastructure and Roadway Projects in Developing Countries
Market Trend
- Technology Advancement in Road Marking Resign
Restraints
- Issue related to Conservative Approach of Road Contractors
Opportunities
- Increased Prominence of Road Markings in Lane Departure Warning Systems
- Growing Demand from Emerging Market such as China, India, among others
Challenges
- Various Stringent Regulatory Policies over Solvent-Based Road Markings
According to Federal Highway Administration Research and Technology, “Federal environmental and occupational safety regulations pertaining to the pavement markings industry were reviewed to provide regulatory context such as National Environmental Policy Act (NEPA), Toxic Substances Control Act (TSCA), Clean Air Act (CAA), Resource Conservation and Recovery Act (RCRA) and others”. Hence, it may acts hamper for market growth
Key Target Audience
Manufacturers of Road Making Resign, Suppliers of Road Making Resign, Wholesalers, Distributors and Retailers of Road Making Resign, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others