Global Retro-Reflective Material Market to Witness 19.0% CAGR During 2018 – 2024

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Retro-Reflective Materials Market
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Retro-Reflective Materials Market
Industry Overview
The global retro-reflective materials market is
predicted to grow at 19.0 CAGR during the
forecast period with the market size reaching USD
14.0 billion by 2024. The market is driven by the
factors such growing demand of these materialss
to enhance low light condition or night time
visibility, increasing per capita income in
developing countries, and strict government
regulations regarding vehicle safety and worker
safety. Different product types of
retro-reflective materials such as films, sheets
tapes, paints, inks coatings, and others
majorly contribute to the global market size.
These materialss are primarily being used to
increase the night time visibility of traffic
signs, high-visibility clothing, and other items.
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Retro-Reflective Materials Market
Retroreflective materialss are necessary to avoid
unforeseen costs, which may occur due to
accidents on roads. Various studies have shown
that upgrading road signs with retro-reflective
materialss results in significant decrease in the
night time crashes. This leads to the adoption of
these materialss by the road and transport
ministry of different countries to avoid crashes
on road at night time or at low visibility.
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Retro-Reflective Materials Market
Geographic Overview
Asia-Pacific accounted for the major share in the
retro-reflective materials industry in 2017,
globally due to the increasing infrastructural
developments, increasing road and transport
network. Asia-Pacific is home to the two largest
populated countries in the world, namely China
and India. Construction projects are on record
high in these countries to cater to the demands
of its consumers. This offers opportunities for
the retro-reflective materials manufacturers as
construction activities are continued even at
night time.
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Retro-Reflective Materials Market
Competitive Insight
Key players offering products in the
retro-reflective materials industry are 3M, Avery
Dennison Corporation, Changzhou Hua R Sheng
Reflective Materials Co., Ltd., Coats Group Plc,
Dominic Optical Inc., Nippon Carbide Industries
Co., Inc., Reflomax, Asian Paints PPG Pvt. Ltd.,
Paiho Group, Orafol Europe GmbH, JRC Reflex SAS,
and Halo Coatings. Explore Full Report
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cals-materials/retro-reflective-materials-market
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Retro-Reflective Materials Market
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