Reflective Materials Market Growth Analysis, Future Trends, Share, Features, Key Players, Industry Size and Research Report by MRFR – 2023
Global Reflective Materials Market: Information by Technology (Microprismatic, Glass and Ceramic Beads), by Product Type (Films, Sheets and Tapes, Paints), by Application (Traffic Control and Work Zone, Personal Safety), and by Region — Forecast to 2023
Pune, India – March 22, 2019 /MarketersMedia/ —
Reflective Materials Market Overview:
The players in the global reflective materials market are adopting various strategies such as expansions, acquisitions, and mergers to capture larger market shares. For instance, in August 2017, Orafol, a Germany-based graphic products manufacturer, acquired distribution businesses in Melbourne, Perth, and Adelaide and signmaker supplies at Balcatta in Perth. This acquisition led to an increase in the distribution network of the company which is expected to fulfill the growing demand for reflective materials in the global market.
Reflective materials are the objects that are formed with tiny spherical beads which are almost half the size of a human hair and are used for retro-reflection. They are perfect microscopic spheres made up of optical-grade glass, coated on one side with aluminum to generate a reflective surface.
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Reflective Materials Market Key Players:
3M (US), Reflomax (South Korea), Avery Dennison (US), Dominic Optical (China), Coats Group (UK), Asian Paints PPG (India), Orafol (Germany), Nippon Carbide Industries (Japan), Changzhou Hua R Shang Reflective Material (China), and Paiho Group (Taiwan) are some of the major players in the global reflective materials market.
Reflective Materials Market Segmentation:
Global reflective materials market has been segmented on the basis of technology, product type, application, and region.
The global reflective materials market has been divided into microprismatic and glass and ceramic beads technology, based on technology.
By product type, global reflective materials market has been segregated into films, sheets and tapes, paints, coatings, and fabric.
On the basis of application, global reflective materials market has been split into traffic and work zone, personal safety, construction, automotive, solar panels, and others.
Reflective Materials Market Regional Analysis:
The global reflective materials market has been studied across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific was the largest and fastest growing market for reflective materials in 2018. China and India are the major contributors to the growth of product in this region. Growing urbanization has given rise to traffic issues and constructional activities. Reflective materials are highly used as films on signboards in traffic and work zone to direct, warn, and guide travelers on highways and other roadways to prevent road accidents, especially during night and low light conditions. Furthermore, these materials are also used in textiles and automotive industries. The growing automotive industry in this region is another key driver for the market in this region. Hence, the Asia-Pacific market is expected to show strong growth during the forecast period.
North America held the second-largest share in terms of market size, in 2018. Reflective materials are used in automotive and construction segments, owing to the safety reasons during night time Besides, the product is also used in making apparels such as shirts, shoes, and belts. These factors have contributed to the growth of reflective materials market in this region. Thus, the North American market is projected to showcase remarkable growth in the forecast years.
Reflective Materials Market Table of Content:
1 Executive Summary
2 Market Introduction
3 Market Research Methodology
4 Market Dynamics of Global Reflective Materials Market
5 Market Factor Analysis of Global Reflective Materials Market
Reflective Materials Market Table of Content to be Continue……….,
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