Retroreflective materials 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 materials result in a significant decrease in nighttime crashes. This leads to the adoption of these materials by the road and transport ministry of different countries to avoid crashes on road at night time or at low visibility.
Among different products, the global retro-reflective materials market is categorized into sheets & tapes, films, paints, inks & coatings, and others. The films, sheets and tapes segment hold the largest share in the market primarily due to their wide range of applications in different industries such as apparel, construction and infrastructure, automotive and transportation, and others.
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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.
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.
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.
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.
Source: VynZ Research
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