Stratview Research has published a new report titled “Retro-Reflective Materials Market” which is segmented by Technology Type (Microprismatic Technology, Glass Beads Technology, and Ceramic Beads Technology), by Product Type (Films, Sheets & Tapes; Paints, Inks & Coatings; and Others [Retro-Reflective Threads and Retro-Reflective Fabrics]), by Application Type (Traffic Control & Work Zone, Conspicuity, Fleet & Vehicle Registration, Personal Safety, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market compound annual growth rate is 18.58% during the forecast period of 2022-2028 to achieve US$ 23 billion in 2028 from US$ 6.93 billion in 2021.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
Product Trends
The market is segmented into films, sheets, & tapes; paints, inks, & coatings; and others.
The Films, Sheets & Tapes segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Retro-reflective films, sheets, and tapes have a wide range of applications in different industries, they are widely used in public security, traffic, sanitation, fire, railway, municipal, coal mine safety facilities, and other such applications.
Application Trends
The market is segmented into traffic control & work zone, conspicuity, fleet & vehicle registration, personal safety, and others.
The Traffic Control & Work Zone segment dominates the market, as retro-reflective materials are majorly used on highways, roadways, and at work zone sites, such as warning signboards, traffic control signboards, guidance signboards, and informational signboards.
Which Region is expected to remain the largest market?
Asia-Pacific is estimated to be the largest market for retro-reflective materials during the forecast period, with China, Japan, and India being the countries with lucrative growth opportunities.
The growth of the market is mainly driven by the rising construction and industrial sectors in the major economies of the region. Increasing demand for automobiles in the region and the implementation of stringent government regulations are expected to further drive the market over the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Retro-Reflective Materials Market:
- The 3M Company
- ORAFOL Europe GmbH
- Avery Dennison Corporation
- Changzhou Hua R Sheng Reflective Material Co., Ltd
- Coats Group plc
- NIPPON CARBIDE INDUSTRIES CO., INC.
- Taiwan Paiho Company Limited
- Asian Paints PPG
- American & Efrid LLC
- Reflomax
Key questions answered by the report.
- What is the projected CAGR for revenue from the Retro-Reflective Materials Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Retro-Reflective Materials Market?
- Which are the major market players?
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