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.

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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.

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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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.

Global Retro-Reflective Materialss Market Coverage

Technology Insight and Forecast 2014 - 2024

Microprismatic Technology

Glass Beads Technology

Ceramic Beads Technology

Application Insight and Forecast 2014 - 2024


Traffic Control & Work Zone

Conspicuity

Fleet & Vehicle Registration

Personal Safety

Others (Marine, Photosensors, Machinery)

Product Type Insight and Forecast 2014 - 2024


Films, Sheets & Tapes

Paints, Inks & Coatings

Others

Geographical Segmentation


Retro-Reflective Materialss Market by Region


North America


U.S.

Canada

Mexico

Europe


Germany

U.K.

France

Russia

Rest of Europe

Asia-Pacific


Japan

China

India

Australia

Rest of Asia-Pacific

Latin America


Brazil

Argentina

Rest of Latin America

Middle East & Africa (MEA)


South Africa

Saudi Arabia

U.A.E.

Rest of MEA


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