The global reflective material market exhibited moderate growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Reflective materials are membrane structures comprising an adhesive, protective film, functional layer, and optical-grade glass that allows light to bounce back. These materials can change their solar reflectance depending on the outdoor temperature and irradiation. They are weaved into a fabric to make safety jackets, mixed in paints for being utilized on the highway, or employed for making safety devices like markers, reflectors, and road signs. Compared to conventional reflective materials that reflect solar energy in buildings during summertime, smart retroreflective materials are gaining traction in places with extended warm and cold seasons.
Reflective Material Market Trends: Due to the increasing cases of motor vehicle collisions (MVC), road safety authorities worldwide are undertaking initiatives to minimize fatal road accidents. This represents one of the key factors escalating the demand for reflective materials to produce road safety devices and textiles. They also find applications in the aerospace industry to improve pilot visibility and prevent mid-air collisions. Apart from this, several manufacturers are introducing soft, comfortable fabrics that enhance visibility and safety in low light conditions like snow, fog, and night. This, coupled with the rising use of these materials in the fabrication of high-end jackets, running gear, biking equipment, and professional safety uniforms, is strengthening the market growth. Moreover, they are utilized in solar photovoltaic (PV) systems for power generation, water pumping and maintenance, and health systems. Furthermore, the market is anticipated to grow due to the escalating demand for camouflage patterns made using infrared (IR) reflective textiles to avoid warfighters’ detection by enemy IR sensors.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global reflective material market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product and application.
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
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: The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Yeshili NEW Materials Co. Ltd. Key Questions Answered in This Report: How has the global reflective material market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global reflective material market? What are the key regional markets? What is the breakup of the market based on the product? What is the breakup of the market based on the application? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global reflective material market and who are the key players? What is the degree of competition in the industry?
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