The global reflective material market size is expected to reach USD 40.52 Billion in 2030 and register a revenue CAGR of 5.4% over the forecast period, according to latest report by Reports and Data. Rising concerns regarding workplace and traffic safety management is a key factor driving market revenue growth. Reflective materials are used to highlight or reflect light on a surface or object, in order to enable it to be seen or observed clearly. They are usually used in traffic signboards, markings, and temporary traffic control applications.
Reflective material is composed of tiny glass beads that reflect light directly back toward its source, owing to their ability to reflect incident energy back toward its source regardless of the direction of incidence. Reflective materials are extensively used in manufacturing a wide range of products, such as sheeting, tapes, films, paints, adhesives, inks, and other specialty goods, and are also used to make heat transfer logos to provide efficient and flexible solutions to garment manufacturers.
Top Companies Operating in the Global Reflective Material Market:
3M, Avery Dennison Corporation, ORAFOL, Dominic Tunnell Opticians, Changzhou Hua R Sheng Reflective Material, Coats Group PLC, Nippon Carbide Industries Co. Inc., Paiho Group, Asian Paints, and Reflomax.
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Some Key Highlights from the Report
- In March 2021, Tata Motors launched a new compact ambulance. This ambulance comes with AIS 125 certified retro-reflective decals, a beacon light, and a siren, and can seat five attendants, apart from the driver and the patient.
- Coatings segment accounted for largest revenue share in 2021, due to its retro-reflective property. Moreover, there is increasing demand for reflective coatings in construction and textile industries, which is expected to drive revenue growth of this segment.
- Building & construction segment revenue is expected to register a steady growth rate during the forecast period. This can be attributed to increasing need to control light intensity in various strategic applications, such as lighting lenses, reflectors, decorative trims, display panels, and energy management.
- Micro prismatic segment accounted for a significantly large revenue share in 2021. The micro prismatic technology helps to produce a bright reflective appearance on garments and accessories and improve reflectivity of materials, by integrating retro-reflective microscopic prisms formed on a polymeric film. Increasing adoption of products offering a high degree of reflectivity, in order to enhance safety, is driving demand for micro prismatic technology.
- Market in Asia-Pacific accounted for largest revenue share in 2021. Growth of industries, such as automotive, transportation, and construction & infrastructure in the region, is contributing to revenue growth of the market. Reflective materials are used for various purposes, such as safety apparel, road markings, signboards, and conspicuity markings, among others. Moreover, increasing production of glass beads and microspheres, which are used as primary raw materials for production of any reflective material product, is expected to support market revenue growth.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Reflective Material Market Segmentation
Product Outlook (Revenue, USD Billion; 2019–2030)
- Fabric
- Sheet
- Coatings
- Paints & Inks
- Tape & Films
- Specialty Products
- Others
Technology Type Outlook (Revenue, USD Billion; 2019–2030)
- Micro Prismatic
- Glass Beads
- Ceramic Beads
Application Outlook (Revenue, USD Billion; 2019–2030)
- Building & Construction
- Textile
- Automotive
- Healthcare
- Traffic Control
- Others
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