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Global Retro-Reflective Materials Market
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Global Retro-Reflective Materials Market
Industry Overview The global retro-reflective materials market was projected to reach USD 14.0 billion by 2024, at a CAGR of 19.0% during the forecast period. The global retro-reflective materials market is projected to witness a
significant growth in the coming years owing to the stringent government regulations regarding worker and vehicle safety. These materials are used to increase the night time conspicuity of traffic signs, high-visibility clothing, and other items. In the light of an approaching vehicle, this makes them safe and effectively
visible. Also, they are primarily used as a material to increase the barcodes scanning range in factory setting.
Š 2018 VynZ Research All rights reserved
Global Retro-Reflective Materials Market
Growth Drivers Growing demand of these materials to enhance night time and low light condition visibility, increasing
consumer spending in developing countries, and strict government regulations regarding vehicle safety and worker safety are the major factors driving the retro-reflective materials market growth. These materials
are generally used on road signs and also on pavements, where level of reflectivity must meet established standards. For instance, according to European Union standards, pavement markings should be visible to the average motorists which provide them a minimum of 2.5 seconds of reaction time after dark. Also, the
choice of road sign colors are also guided by reflectivity concerns, for example, red and yellow colors are used more frequently, as they attract attention sooner as compared to other hues.
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Global Retro-Reflective Materials Market
Geographic Overview Globally, Asia-Pacific is the largest retro-reflective materials market, owing to the expansion of various industries in the region including construction and infrastructure, automotive and transportation, and others. Due to the rise in construction projects to meet the infrastructure demand of growing population,
the Asia-Pacific region is anticipated to witness the fastest growth in the market.
Š 2018 VynZ Research All rights reserved
Global Retro-Reflective Materials Market
Competitive Insight Some of the key players operating in the retro-reflective materials industry are 3M, Avery Dennison Corporation, Changzhou Hua R Sheng Reflective Material 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 Sample at: https://www.vynzresearch.com/chemicals-materials/retro-reflective-
materials-market
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