Reflective Material Market to Surpass US$ 8.4 Billion at a CAGR of 5.37% by 2027

PRESS RELEASE
Published February 23, 2023

According to the latest report by IMARC Group “Reflective Material Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global reflective material market reached a value of US$ 6.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2027, exhibiting a CAGR of 5.37% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Reflective Material Market

Reflective material comprises tiny glass beads that reflect light back to the source. It relies on the principle of retro-reflectivity wherein returning light is scattered. It is a durable and cost-effective material that has wear and tear, aging, and washing resistance properties. It has the capability to increase visibility and safety in low light conditions, such as fog, snow, and darkness at night, which assist in ensuring safety. It also improves the efficiency of solar energy and is available in different shapes and sizes. As a result, reflective material is widely utilized in various applications, such as fashion garments, license number plates, construction sites, reflective road signs, and advertising boards, around the world.

Request for a free sample copy of this report: https://www.imarcgroup.com/reflective-material-market/requestsample

Reflective Material Market Trends and Drivers:

At present, the increasing adoption of reflective materials in the aerospace industry to prevent mid-air crashes represents one of the key factors strengthening the market growth. In addition, the growing utilization of reflective materials in traffic safety management is offering a positive market outlook. Additionally, governing agencies of various countries are encouraging the usage of reflective materials to reduce road accidents, which is bolstering the growth of the market. Apart from this, the rising utilization of reflective materials in manufacturing products, such as tapes, films, paints, inks, and adhesives, is propelling the growth of the market. Furthermore, the increasing employment of reflective materials in solar photovoltaic (PV) systems for efficient power generation and water pumping and maintenance is supporting the growth of the market.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

  • Fabrics
  • Sheet
  • Paints and Inks
  • Tape and Films
  • Coatings
  • Specialty Products
  • Others

Breakup by Application:

  • Textiles
  • Construction and Roads
  • Automotive
  • Electronics and Semiconductors
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • 3M Company
  • ALANOD GmbH & Co. KG
  • Avery Dennison Corporation
  • Changzhou Hua R Sheng Reflective Material Co. Ltd
  • Coats Group Plc
  • Daoming Reflective Material India Pvt. Ltd.
  • NIPPON CARBIDE INDESTRIES CO. INC.
  • ORAFOL Europe GmbH, Reflomax
  • SKC Co Ltd
  • Yeshili NEW Materials Co. Ltd.

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=3960&flag=C

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

Email: sales@imarcgroup.com

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Address: 134 N 4th St. Brooklyn, NY 11249, USA 

Follow us on Twitter: @imarcglobal

IMARC