Global Reflective Materials Market 2018-2022
About Reflective Materials
Reflective materials are made of tiny glass beads that are embedded on the surface and increase the visibility of the object. Substrates that contain reflective materials illuminated by a light source have the ability to enhance the visibility by returning the light back toward the original source, typically in nighttime or low-light conditions.Technavio’s analysts forecast the global reflective materials market to grow at a CAGR of 4.98% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the global reflective materials market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Reflective Materials Market 2018-2022
Technavio recognizes the following companies as the key players in the global reflective materials market: 3M, AVERY DENNISON CORPORATION, Daoming Optics & Chemical, ORAFOL Europe, and Viz Reflectives.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for fire-resistant reflective tapes. Fire-resistant reflective tapes are heat and flame resistant and aid in enhancing safety by improving visibility in low-light and extreme weather conditions. These tapes are used in several industrial applications and undergo severe tests in industrial laundry conditions.”
According to the report, one driver in the market is growing construction industry. The construction industry has witnessed significant growth in the recent years and with rise in construction activities in countries such as China, India, and the US, the industry will grow at a considerable rate in the coming years as well.
Further, the report states that one challenge in the market is volatile prices of raw materials. A continuous fluctuation in the price of polymers and polyester has been noticed in the past one year. Up till May 2017, the prices of polymers declined, followed by a rise.
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