Growing demand for reflective materials to improve visibility in a low light environment is a significant factor expected to boost market demand.
Market Size – USD 21.72 billion in 2018, Market Growth - CAGR of 5.2%, Market Trends – Growing Demand for reflective materials in traffic management.
The global Reflective Materials Market is expected to reach USD 33.10 Billion by 2026, according to a new report by Reports and Data. Reflective materials are materials that make use of microprismatic technology or glass/ceramic bead technology that is implanted on the surface a base material to increase the visibility of the object in low light conditions. When illuminated by a light source, the visibility of the substrates containing reflective materials is enhanced by reflecting the light to the source, specifically during the night or low-light environments.
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| Reflective Materials Market | Reports and Data |
The global reflective materials market is anticipated to experience significant growth owing to considerable growth in demand from the automotive industry, stimulated by growing concerns for vehicle safety worldwide. Increasing manufacture of light and heavy commercial vehicles globally is projected to fuel the market demand in the period 2019-2026.
The market for reflective materials is expected to gain traction by the need to comply with stringent governmental norms and regulations for vehicular safety. Additionally, growing deployment of reflective materials for traffic control on highways is forecasted to open up numerous window of opportunities for the growth of the market in the forecast period.
Additionally, the rise of the construction sector in Asia Pacific region would create high demand for reflective material fabric to ensure the safety of workers in the construction zone. Ample presence of raw materials in this geographical area comprising glass/ceramic beads and microspheres used in production is expected to increase the profitability of the players in the market.
Further key findings from the report suggest
• Microprismatic technology is forecasted to contribute to the largest market share with a growth rate of 5.2% in the forecast period. The working mechanism of prism technology is that the ray of light strikes each of the three inner walls of the microprism in turn and is eventually thrown back to the source from where the light originated. The precise arrangement of the microprisms improves the reflective efficiency.
• The market for reflective tapes is projected to grow at the highest rate of 5.5% in the forecast period and would reach USD 7.08 billion by 2026 from USD 4.57 billion in 2018. Demand for reflective tapes is forecasted to increase mainly due to a surge in automotive production. Further, the use of reflective tapes for traffic management is also expected to grow in the forecast period.
• Application of reflective materials in the construction sector is expected to have a significant growth rate of 5.6% in the forecast period. The increase in demand for reflective materials in the construction sector is to enhance the safety features within the construction zone.
• Asia Pacific is estimated to observe the fastest growth rate in the market with a CAGR of 5.4% in the forecast period.
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• Key participants include 3M, Avery Dennison, Dominic Optical, Nippon Carbide Industries, Reflomax, Asian Paints PPG, Coats Group, Orafol Europe GmbH, Changzhou Hua R Sheng Reflective Material Co., Ltd., and Halo Coatings among others.
• On September 2018, Avery Dennison, a major player in the market, launched a new range of reflective vinyl films. This new portfolio includes V2000™ Beaded Reflective Film, printable V4000™ Beaded Reflective Film, and Visiflex™ V8000™ Series Prismatic Reflective Vinyl. Each of these new reflective films would offer increased visibility in numerous applications, comprising indoor signage, outdoor signage, fleet wraps, striping, and more.
For the purpose of this report, Reports and Data have segmented global reflective materials market on the basis of product type, technology, application and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
• Fabric
• Sheet
• Paints & Ink
• Tapes & Films
• Coatings
• Specialty Products
Technology Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
• Microprismatic Technology
• Glass & Ceramic Beads Technology
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
• Traffic management
• Automotive
• Construction
• Personal Safety
• Textile
• Electronics
• Others
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
• North America
1. U.S.
• Europe
1. Germany
2. UK
• Asia Pacific
1. China
2. India
3. South-east Asia
• Latin America
1. Brazil
• MEA
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/reflective-materials-market
Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
Chapter 4. Reflective Materials Segmentation & Impact Analysis
4.1. Reflective Materials Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Stringent Government Regulations pertaining to safety of automobiles and workers in work zones
4.2.2.2. Growing Demand for reflective materials in traffic management
4.2.2.3. Growing Demand for Reflective Materials to Improve Visibility in Low Light Environment
4.2.3. Market restraints analysis
4.2.3.1. Lack of awareness for reflective materials in developing countries
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continue…
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