Reports And Data

The Global Reflective Material Market : Rising concerns regarding workplace and traffic safety management is driving market revenue growth

NEW YORK CITY, NEW YORK, UNITED STATES, August 18, 2022 /EINPresswire.com/ -- 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.

Reflective materials are used in solar photovoltaic (PV) systems for power generation, water pumping and maintenance, and health systems. Market revenue growth is expected to be driven by surging demand for camouflage patterns made by using infrared (IR) reflective textiles, in order to prevent the detection of warfighters by enemy infrared sensors.

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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.
Companies profiled in the global market report include 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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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

Regional Outlook:

North America
US.
Canada
Mexico
Europe
Germany
UK.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA

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Key questions covered in the global Reflective Material Market report:

What is the expected market size of the global Reflective Material Market during the forecast period?
What factors are expected to hamper global Reflective Material Market growth over the forecast period?
What key factors are expected to drive global revenue growth between 2019 and 2030?
Which application segment is expected to dominate other application segments over the forecast period?
Which region is expected to dominate in terms of revenue during the forecast period?
What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
Which leading players are operating in the global Reflective Material Market?

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