According to a new report,“Retro-Reflective Materials Market Analysis, Market Size, Product Analysis, Application Analysis, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2018 To 2025”, published by Grand View Research, Inc., The global retro-reflective materials market size is expected exhibit notable growth on account of amplifying demand from the automotive industry, spurred by rise in concerns regarding vehicle safety across the globe. Rising production of light and heavy commercial vehicles across the globe is expected to contribute to market growth over the forecast period.
The global market is expected to benefit from the presence of stringent governmental regulations regarding vehicle safety. In addition, rising use of the product in highway vehicle control is expected to open up several opportunities for industry growth over the coming years. Moreover, growth of the construction industry in Asia Pacific is expected to result in high demand for retro-reflective material-based clothing.
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Absence of any superior performance products in the market is expected to provide additional support to industry growth. In addition, ease of integration in textiles, tapes, and others provided by such materials in construction and automotive industries has resulted in high product demand. These materials are composed of micro beads of glass and ceramic that provide superior reflection characteristics. The production technology involved in the manufacture of such materials is expensive, which leads to high production cost.
Retro-reflective materials are produced using a number of technologies, the main ones being microprismatic, glass beads, and ceramic beads. Microprismatic technology is expected to gain market share over the forecast period on account limited light scattering. In addition, use of such materials in stationary reflective products used for vehicular control is expected to increase over the forecast period.
Retro-reflective products manufactured using glass and ceramic bead technologies are expected to witness an increase in adoption in safety apparel used in the building and construction industry. Strict mandates regarding worker safety in the construction industry is expected to give these technologies a boost.
Retro-reflective materials can be paints and coatings, films, tapes, and others such as sheets, threads, and fabrics. Demand for retro-reflective tapes is expected to rise primarily due to surge in automotive production. In addition, use of these tapes for vehicular control is also expected to rise over the forecast period. Use of reflective paints in traffic control and road markings is expected to emerge as the primary factor driving industry growth. In addition, rise in infrastructure construction in Asia Pacific is expected to propel the industry over the next few years.
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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