LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global reflective materials market to grow at a CAGR of close to 5% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the increasing demand for fire-resistant reflective tapes as one of the key emerging trends in the global reflective materials market. There is a significant demand for fire-resistant (FR) reflective tapes. Their unique designs have the capability to handle heat and are flame resistant. They offer high visibility and resistance to harsh conditions. In industrial laundry conditions, these tapes undergo rigorous tests. FR reflective tapes improve safety by enhancing visibility in low-light conditions (night time) and extreme weather conditions. These tapes consist of fluorescent materials and provide daytime and low-light visibility of protective clothing. They are also used in several industrial applications. The increase in the demand for FR reflective tapes is expected to be a major driver for demand for reflective materials.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the growing construction industry as a key factor contributing to the growth of the global reflective materials market:
Growing construction industry
In the construction industry, the use of reflective materials is increasing due to the rising concern for safety and energy saving. For example, fabrics, road signs, barricade, and devices are coated with reflective materials as they enhance visibility and reduce the number of accidents. Moreover, coating exteriors of building walls and roofs with reflective materials bring down the internal temperature of the building as light is not absorbed. Since the last decade, there has been a remarkable growth in the global construction industry and is expected to grow further during the forecast period.
According to a senior analyst at Technavio for paints, coatings, and pigments, “Countries such as the US, China, and India are the market leaders. However, in China, the construction market is expected to show a dip in the housing construction segment. The shift of the Chinese economy into a consumer- and services-driven economy has led to new types of construction in healthcare, education, social infrastructure, retail, and other consumer end-markets. During the forecast period, the construction market in India is expected to grow at twice the rate of China.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global reflective materials market segmentation
This market research report segments the global reflective materials market into the following applications (coatings, fabrics, sheets, and paints and inks), end-users (construction, automobiles, textiles, and electronics) and key regions (the Americas, APAC, and EMEA).
Of the four major applications, the construction segment held the largest market share in 2017, accounting for nearly 36% of the market. The market share for this application is expected to increase by 2022. The fastest growing application is automobiles, which will account for nearly 30% of the total market share by 2022.
APAC was the leading region for the global reflective materials market in 2017, accounting for a market share of nearly 39%. By 2022, APAC is expected to continue dominating the market and register the highest market growth.
Save big with Technavio this May!
Find out what companies are venturing in to beat the heat this summer! Technavio indulges you with a massive 20% OFF on all non-alcoholic beverages reports for the entire month.
Technavio honors the achievements and efforts of Motherhood this Mother's Day by offering a whopping 30% OFF on all cosmetics and toiletry reports. Offer valid from 7th May for a limited period.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.