Global Reflective Material Market By Type, By Application, And By Region (North America, Europe, China, Japan And Rest Of The World) – Global Forecast From 2020 To 2029

Reflective Material: Overview

“The global Reflective Material Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Reflective material is a type of fabric used in several safety and traffic management service. A reflective material is made of a base cloth, adhesives and tiny glass beads, that are embedded on the surface to increase the visibility of the object.

This process transforms each reflective bead into a convex mirror which reflects light hitting on them back to its source. Unlike, a regular flat mirror where refection is only on the opposite of the mirror, a mirror made using a reflective glass bead displays the image on every direction. They produce a bright reflective appearance on garments and accessories.

Global Reflective Material Market: Dynamics

The global reflective material market is projected to witness a robust growth during the forecast period, specifically in emerging economies, owing to the favorable growth and development taking place in these region. These reflective materials with high visibility are in demand in construction industry. They provide excellent visibility and safety in any low light condition because of snow, fog, and darkness after nightfall. Considerable growth in the construction industry across many counties is propelling demand for reflective material market.

Governing bodies around the world are implementing stringent worker safety regulations. Application of such regulations in increasing demand for manufacturing different work wear and other accessories such as belts, tents, backpacks and others are projected to be the key factor driving demand of the global reflective material market.

Owing to its unique chemical and physical properties, reflective material is used in manufacturing a broad range of products including sheets, tapes, films, and other safety goods. Vast application of reflective material is projected to drive growth of the target market. Furthermore, use of reflective material in the textile industry has proven to be a game changer, it is widely used to manufacture safety clothing, life jackets, gloves, and reflective work wear. Such materials play a vital role in worker safety while working in hazardous workplaces with poor visibility and low light, for instance, mines, caves, etc. These factors are constantly driving growth of the target market.

Volatile pricing, uneven demand-supply and constant modification in stringent government regulatory laws focusing on the recycling of the products and using low-impact materials, are projected to show negative impact on market growth.

Global Reflective Material Market: Segment and Region Insights:

Insights, by TypeThe occupational apparel segment is projected to account for highest share in terms of revenue in the global reflective material market over the 10-year forecast period, it is projected to register a highest CAGR of over 11.6% during the forecast period.

Insights, by Application:

The apparel segment in the application segment is projected to register highest revenue share as well as registers highest CAGR of over 11.8% during the 10-year forecast period in the global reflective material market.

Insights, by Region:

The rest of the world market is projected to account for highest revenue share in the global reflective material market. However, the market in China is projected to register highest CAGR of over 11.5% during the 10-year forecast period.

Company News:

3M Company

(Year 2018)

• Corporate Changes/Expansions: In February, 3M opened a new Innovation Center in Washington, D.C., the US.
• Contracts/Agreements: In March, the company's subsidiary Ceradyne, Inc. secured a contract worth US$34 million from U.S. Army to supply ballistic army helmets.

(Year 2017)

• Corporate Changes/Expansions; In October, 3M established a new hub, 3M Design Center in Japan, to accelerate the design growth all over the global enterprise.
• Plans/Strategy; In May, 3M plans to expand its presence in Springfield, Missouri, the US for US$40 million.
• Contracts/Agreements; In May, 3M secured a contract from The U.S. Army for two 3M products to provide hearing protection and auditory situational awareness to soldiers.
• New Products/Services; 3M introduced new PELTOR sport electronic hearing protectors at SHOT show.

DM-Reflective Material

(Year 2017)

• New Products/Services: In 2017, Daoming Reflective Material India Private Limited (DM) was founded for offering better local service to Indian customer. DM-Reflective Material India Pvt. Ltd. is a leading Manufacturer and Wholesaler of an exclusive range of Traffic Safety Film, Traffic Safety Sheet, Traffic Safety Tape etc.

Global Reflective Material Market Segmentation:

Segmentation based on Type:

• Occupational Apparel
• Recreational Apparel
• Textile Accessories
• Others

Segmentation based on Application:

• Industrial Fabric
• Apparel
• Textile Accessories
• Textile Crafts
• Others Textile Products

Segmentation based on Region:

• North America
• Europe
• China
• Japan
• Rest of World