Retro-reflective Materials Market is Expected to Grow at a CAGR of 17.3% By 2030 | Reports and Data

Retro-reflective
Retro-reflective

Reports and Data estimates the global Retro-reflective Materials Market competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2028 as the forecast period. The report offers CAGR and market size for the global Retro-reflective Materials during the forecast period.

The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include M, ORAFOL Europe GmbH, Avery Dennison Corporation, Dominic Optical Inc., Coats Group Plc, Nippon Carbide Industries Co., Inc., Paiho Group, Reflomax, and Aura Optical Systems, L.P.

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Restraint: Lack of awareness pertaining to retro-reflective products among end-users

Lack of safety awareness about public-safety gears, safety utility vests, headwear, and safety materials, such as retro-reflective caution tape, paints, and sheets in various project sites in underdeveloped countries is a major factor restraining growth of the global retro-reflective materials market. In some underdeveloped countries, such as South Sudan and Niger, government has not introduced stringent policies on safety standards. This results in lack of safety-training awareness in most of the construction and infrastructure project sites. Lack of safety training awareness has led to low or negligible adoption of safety rule boards and workplace hazard boards among project developers. Project developers avoid spending on retro-reflective products, such as safety gear and headwear, due to low project budget. End-users are also looking for cost-effective alternative products, such as motion sensor lights and Light-emitting Diode (LED) strips, in order to increase productivity. These factors are expected to restrain market revenue growth.

COVID-19 Analysis:

According to International Labor Organization, during the global pandemic period, the construction and infrastructure sectors were impacted by the economic slowdown and construction sites in many countries were shut down due to disrupted supply chains and operational restrictions, which, in turn, disrupted growth of retro-reflective materials market. In addition to construction sites, retro-reflective materials, such as tapes and sheets, are also used in the healthcare industry. Retro-reflective materials help in demarcation of isolation wards and biohazard zones in hospitals and containment zone. These factors are expected to impact growth of retro-reflective materials market during forecast period.

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For the purpose of this report Reports and Data has segmented global Retro-reflective Materials market on the basis of type, application, and region:

By Application Outlook                 

  • Transportation & Traffic Control
  • Construction & Mining
  • Safety Apparel
  • Others

By Technology Outlook

  • Microprismatic Technology
  • Glass Bead Technology
  • Ceramic Bead Technology

By End-use Outlook       

  • Automotive
  • Construction
  • Industrial

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Key Questions answered by the Report:

  • What is the expected year-on-year growth of the Retro-reflective Materials during the forecast period?
  • What key trends are expected influence revenue growth of the market going ahead?
  • Which region is expected to account for largest revenue share over the forecast period?
  • Which key companies are profiled in the report?

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About Reports and Data 

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