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Global Reflective Material Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Rising Use of Reflective Materials in Pet Products

According to a new report by EMR titled, ‘Global Reflective Material Market Report and Forecast 2021-2026’, the market attained a value of about USD 5.41 billion in 2020. The industry is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026.

Technological advancements are leading to the production of reflective material in diverse shapes and sizes to meet the demand for various purposes. In addition, pet products containing reflective materials are becoming increasingly popular, due to which the leading companies are offering various products for pet animals. Comfortable and safe products containing reflective materials, including jackets, leashes, shoes, and collars, among others, are catalysing the market growth. Moreover, the use of reflective materials in clothing is positively impacting the market growth. They not only increase visibility in low light conditions, such as fog and darkness, but also are ideal for snowboarding, cycling, policing, and road emergency works, hence providing further impetus to the reflective material industry growth.

3M Co. (NYSE: MMM), one of the leading players in the market, reinvented reflective material for activewear with carbon black technology in May 2017. C790 Carbon Black Stretch Carbon Film is a rich and deep black coloured material when viewed in daylight. The material delivers vibrant reflective brightness when illuminated at night. Moreover, the brightness of the material is durable through wear, stretch, or washing. Additionally, it can adhere to a wide variety of fabrics without affecting design or quality. The carbon black technology makes the colour inherent to the material’s construction to create a discreet and colour-fast material with initial brightness averaging 300 RA strike. The technology also aids in providing off-angle brightness for increased visibility in low-light conditions. The development of such products by the major companies is anticipated to propel the market growth in the forecast period.

Market Analysis by Product, Application, and Region:

  • The market, on the basis of product, can be divided into reflective fabric, reflective sheet, reflective paints and inks, tape, coatings, and speciality products, among others.
  • Based on application, the industry can be divided into automotive, construction and roads, electronics and semiconductors, and textiles, among others.
  • The regional markets for reflective material include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for reflective materials in the automotive industry for enhanced road safety is aiding the market growth.
  • The market is being driven by the rising use of reflective materials in the oil and gas, construction, aviation, and automotive industries for employee safety.
  • The surging use of reflective paints, which are cost-effective, durable, and suitable for warm regions, is propelling the market growth.
  • Innovations and developments in retroreflective technologies to enhance visibility from long distances are augmenting the growth of the reflective material industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global reflective material market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, and regions of reflective materials.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for reflective material are 3M Co., Avery Dennison Corporation, SKC hi-tech & Marketing, ORAFOL Europe GmbH, and Daoming Optics and Chemical Co. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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