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Increasing Construction of Warehouses and Thriving Automobile Sector are accelerating Reflective Tape Market growth.

HYDERABAD, TELANGANA, INDIA, November 16, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Reflective Tape Market is growing at a CAGR of 3.2% during 2022-2027. Reflective tapes also referred to as security tapes, bounce light back at the source. Reflective tapes made of polyvinyl chloride and polyester are among the most user-friendly adhesive tapes. With their simple peel and stick backing, they're easy to use. Both during the day and at night, reflective tapes are easily visible. The reflective tape market will benefit from increased demand for warning signage/reflective light, particularly in dark or dimly lit areas, to warn people of potential threats. Despite the upbeat outlook, the global reflective tapes market may be hampered by several factors. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Reflective-Tape-Market-Research-508453

Key takeaways:

This IndustryARC report on the Reflective Tape Market highlights the following areas -

1. Asia-Pacific dominates the reflective tape market. Increasing building and construction activities in developing APAC countries is fueling the market growth in Asia-Pacific.

2. Reflective tapes are expected to become more widely used at construction sites and industrial facilities as a result of stringent government regulations aimed at ensuring the safety of pedestrians and workers.

3. An increase in the number of road accidents is driving demand for high-visibility signal tapes (reflective light tapes) as part of accident avoidance and road safety products, which is expected to fuel market growth over the forecast period.

4. However, the production of these products is constrained by a number of factors, including volatile raw material prices, product manufacturing regulations, and high research and development costs.

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Segmental Analysis:

1. The engineer grade segment held the largest share in the reflective tape market in 2021 and is forecasted to grow at a CAGR of 2.9% during 2022-2027. It is the most widely used and least expensive reflective tape. Engineer grade is popular for vehicle graphics and signs, as well as other applications because it uses high index glass beads dispersed evenly on a thin flexible film to create retro-reflectivity.

2. Asia-Pacific region held a significant share in the reflective tape market in 2021 up to 37% and is forecasted to grow at a CAGR of 4.8% during 2022-2027, owing to spiraling demand for reflective tape from the APAC growing building and construction sector. The building and construction sector is expanding in Asia-Pacific countries, owing to rising urbanization and population growth.

3. The building & construction segment held the largest share in the reflective tape market in 2021 and is forecasted to grow at a CAGR of 5.7% during 2022-2027. This can be attributed to the product's increased use for the safety of construction workers. Furthermore, these products are designed for applications that require a high level of visual impact in construction zones, particularly in potentially dangerous areas.

Competitive Landscape:

The top 5 players in the Reflective Tape Industry are -

1. The 3M Company
2. Scapa Group Plc
3. AFT Company
4. Creative Safety Supply, LLC
5. Adhere Industrial Tapes Ltd

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Retro-Reflective Materials Market
https://www.industryarc.com/Research/Retro-reflective-Materials-Market-Research-500284

B. Specular Reflective Material Market
https://www.industryarc.com/Research/Specular-Reflective-Material-Market-Research-501447

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