Reflective Materials Market Research Report - Global Forecast till 2030

Global Reflective Materials Market Research Report: Information by Material Type (Microprismatic, Glass and Ceramic Beads), Product Type (Fabric, Sheet, Paints & Inks, Tape & Films, Coatings, Specialty Products and Others), End-Use Industry (Building & Construction, Automotive, Healthcare, Textile and Others) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/5044-HCR | February 2023 | Region: Global | 140 Pages         

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Reflective Materials Market

The Reflective Materials Market is projected to be worth USD 134 Billion by 2030, registering a CAGR of 23% during the forecast period (2022 - 2030)

Segmentation
By Material Type Microprismatic Glass Ceramic Beads
By Product Type Fabric Sheet Paints & Inks Tape & Films Coatings Specialty Products Others
By End-Use Industry Building & Construction Automotive Healthcare Textile Others
Key Players
Companies Profiled   3M (US)   Avery Dennison (US)   ORAFOL Europe GmbH (Germany)   Dominic Optical (China)   Coats Group plc (UK)   Asian Paints PPG (India)   NIPPON CARBIDE INDUSTRIES CO. INC. (Japan)
Drivers
Market Driving Forces   Increasing demand for the materials that have high visibility during the night for personal safety
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Reflective Materials Market Overview


Reflective materials market will be valued at USD 134 Billion by 2030, presumes Market Research Future (MRFR). The worldwide market shall capture a 10% CAGR from 2022 to 2030.


Various reflective materials contain several optically qualified glass beads that are around three-fourths of the human hair size, micro prisms or encapsulated lenses. These micro prisms or glass beads are packed tightly together and have coatings of thin aluminum film at the back. Therefore, these are used as a convex mirror and reflect back the light, towards the light source. This concept facilitates illumination of the object in the darkness. Given the unique chemical and physical properties these materials offer, there is extensive use in the manufacturing of a wide range of products such as tapes, sheeting, inks, films, adhesives, paints, and various specialty goods. The materials are primarily used for making heat transfer logos to offer flexible and efficient solutions to garments developers.


On the downside, the fluctuating prices of reflective copper, aluminum, micro prisms and glass beads, can be key restraining factors in the worldwide industry. Additionally, given the unstable demand-supply ratio combined with the constant changes in the strict environmental regulations pertaining to the use of low-impact materials as well as recycling of products, the market growth rate can slow down to some extent.


Asia Pacific as a market is experiencing strong growth and will offer a series of significant opportunities to the global firms. This can be due to the thriving automotive sector in the region, and the surging use of reflective tapes in various automobiles for higher visibility in the dark, foggy and low-light conditions. Needless to say, the heightened production rate of automobiles in India, China and several other counties in the region will enhance the market size. Other than this, the emergence of supportive government initiatives to upgrade road safety can further accelerate business growth.


Key Players


Some of the key players in the global reflective materials market are 3M (US), Avery Dennison (US), ORAFOL Europe GmbH (Germany), Dominic Optical (China), Changzhou Hua R Sheng Reflective Material Co., Ltd. (China), Coats Group plc (UK), Asian Paints PPG (India), NIPPON CARBIDE INDUSTRIES CO.,INC. (Japan), REFLOMAX (South Korea), Paiho Group (Taiwan), ALANOD GmbH & Co. KG (Germany), Jinsung Corporation (South Korea), Viz Reflectives (UK), and Daoming Optics & Chemical Co., Ltd (China).


Reflective Materials Market Share, by End-Use Industry, 2018 (%)  Reflective Materials Market


Source: MRFR Analysis


Regional Analysis


North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are the regions analyzed under the scope of the global reflective materials market.


Asia-Pacific held the largest market share for reflective materials in 2018 and is expected to be the dominant region during the review period. The key drivers contributing to the increasing demand for reflective materials in the region is the growing building & construction and textile industries using these materials in the personal protective equipment’s. Furthermore, the high population of the countries in Asia-Pacific and poor traffic management systems have caused numerous road accidents on road, because of which the government is implementing more traffic control signboards, guidance signboards, and warning signboards on the highways to avoid accidents. Hence, surging the demand for reflective materials in the regional market.


The market for reflective materials in North America held the second-largest in 2018 and is expected to witness positive growth during the review period. Owing to the growing popularity for the use of reflective materials in sportswear for running and biking at night and the presence of well-established industry leaders in the region is expected to drive the regional market for reflective materials. Moreover, the R&D sector of the region is continuously improvising their products to provide a better and safer life for its inhabitants.


Europe is another substantial market for reflective materials. The major factor favoring the growth of this regional market is the stern government regulations pertaining to the use of reflective materials for better traffic management applications such as in highways, work zone sites, and roads. Furthermore, the region is one the largest automotive manufacturing region in the world, which is likely to fuel demand for the refractive materials in the passenger and commercial vehicles.


The market in the Middle East & Africa is expected to witness healthy during the forecast period due to the increasing construction activities in the region.


Latin America is expected to have a steady growth in the reflective materials market during the forecast period due to the improving economy of the region and the growing automotive industry.


Segmentation


The global reflective materials report has been segmented on the basis of material type, product type, end-use industry, and region.


Based on material type, the global reflective materials has been segmented into microprismatic, glass, and ceramic beads.


Based on product type, the global reflective materials market has been categorized into fabric, sheet, paints & inks, tape & films, coatings, specialty products, and others.


By end-use industry, the global reflective materials market has been segregated into building & construction, automotive, healthcare, textile, and others.Recent Development


March 2022


An Indonesian team has received USD 750,000 for winning a global competition to accelerate the deployment of solar-reflective cool roofs in emerging markets that suffer from heat stress. The team is the first to develop solar-reflective coating and introduce it to the local practitioners, officials, and residents in their respective nations.


March 2022


Outer has launched its latest white powder coating that has reflective pigments, which help deflect infrared light, and it remains 20 percent cooler to the touch. And like the other pieces in its lineup, the furniture is weather resistant.


Intended Audience:



  • Reflective materials manufacturers

  • Traders and distributors of reflective materials

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 134 Billion
  CAGR   10% (2022–2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Material Type, Product Type, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   3M (US), Avery Dennison (US), ORAFOL Europe GmbH (Germany), Dominic Optical (China), Changzhou Hua R Sheng Reflective Material Co., Ltd. (China), Coats Group plc (UK), Asian Paints PPG (India), NIPPON CARBIDE INDUSTRIES CO.,INC. (Japan), REFLOMAX (South Korea), Paiho Group (Taiwan), ALANOD GmbH & Co. KG (Germany), Jinsung Corporation (South Korea), Viz Reflectives (UK), and Daoming Optics & Chemical Co., Ltd (China).
  Key Market Opportunities   The reflective materials increase the efficiency of the solar panels and help generate more electricity,
  Key Market Drivers   the increasing demand for the materials that have high visibility during the night for personal safety


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Frequently Asked Questions (FAQ) :

Reflective Materials Market valuation was USD 27.73 billion.

Reflective Materials Market would have a CAGR of 10% during the forecast period of 2022 to 2030.

Demand for high visibility during the night would drive the market.

The Asia Pacific Reflective Materials Market would ensure maximum coverage.

The industries are automotive, building & construction, textile, healthcare, and others.