Reflective Material Market Size, Share, Growth to Reach USD 36.90 Billion in 2028

Reports And Data

Rising demand for reflective materials in aerospace, construction, traffic safety management and applications are some key factors driving market revenue growth

NEW YORK CITY, NY, UNITED STATES, December 23, 2021 /EINPresswire.com/ -- The global Reflective Material Market size is expected to reach USD 36.90 Billion in 2028 and register a CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Implementation of stringent government regulations and safety norms regarding road and worker safety, rapid growth across the construction sector in developing countries, rising focus on research and development in reflective materials, and increasing spending in infrastructural development and related projects are some major factors driving steady market revenue growth.

Reflective material contains specific reflective components that reflect light on different surfaces. Reflective materials are usually mixed with paints, fabric, and coatings and used for enhancing the visibility of an object. Reflective materials are commonly used in building & construction, textile, automotive, healthcare, traffic control, and other industries and applications respectively. Construction and roads segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing number of high-rise construction projects and rising concern regarding worker safety during building construction. Asia Pacific is expected to register a relatively faster revenue CAGR throughout the forecast period. This can be attributed to increasing application of microspheres and glass beads in the production of reflective tapes and films.

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Top Leaders Operating in the Market are :
3M, Avery Dennison, ORAFOL, Dominic Optical, Changzhou Hua R Sheng Reflective Material, Coats Group, Nippon Carbide Industries, Paiho Group, Asian Paints PPG, and Reflomax.

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, beacon light, and siren. It can seat five attendants, apart from the driver and patient.

Coatings segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing demand for reflective coatings in construction and textile industries due to its retro-reflective property.

North America accounted for significantly large revenue share in the global market in 2020. Rising concerns regarding traffic safety and robust presence of key market players are major factors driving revenue growth of the market in this region.

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Key Questions Answered by the Report:
What are the key market trends influencing the growth of the Reflective Material market?
Who are the prominent players of the Reflective Material market?
What is the impact of the COVID-19 pandemic on the Reflective Material market?
What are the key growth driving and restraining of the Reflective Material market?
What are the strengths and weaknesses of the prominent players of the Reflective Material market?
What are the key outcomes of the SWOT analysis and Porter’s Five Forces analysis?

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Reflective Material Market Segmentation:
Product Outlook
Fabric
Sheet
Coatings
Paints & Inks
Tape & Films
Specialty Products
Others

Application Outlook
Building & Construction
Textile
Automotive
Healthcare
Traffic Control
Others

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Regional Analysis Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Reflective Material Market Size, Share, Growth to Reach USD 36.90 Billion in 2028

Distribution channels: Chemical Industry

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