Road Marking Paints & Coatings Industry - Regional Synopsis
APAC Market Statistics
The Asia Pacific Road marking paints and coatings market is projected to hold the largest market share by the end of 2037, attributed majorly to the presence of a large road network. As per recent estimates, in 2022, China had the largest roadway network compared to other countries in the Asia-Pacific region, calculated to be approximately 4.9 million kilometers. India followed China with a roadway coverage of about 4.6 million kilometers in the same year. The high density of roads available is estimated to propel the growth of the road marking paints & coatings market. Further, the increasing sales and production of automotive vehicles is the reason for the growth of the road marking paints & coatings market in the coming years. As per the International Organization of Motor Vehicle Manufacturers (OICA), the sales and registrations of new vehicles in the region rose from 40,322,544 vehicles in 2020 to 42,663,736 vehicles in 2021.
Europe Market Forecast
The Europe region road marking paints and coatings market is estimated to share the second largest share in the coming years. The increasing development standards by the government of the European Union to improve road infrastructure and facilities. The increasing safety concerns decrease deaths on highways during traffic congestion. Additionally, it improves the surveillance, quality of building materials, and safety of people on roads. According to the estimations, in 2021, around 40 million road fatalities are registered in Europe with an increase of over 4% from 2020.
