New York, NY -- (SBWIRE) -- 12/28/2020 -- The reflective material market is set to attain a valuation of USD 6.43 billion by 2027, registering a CAGR of 10.8%. The reflective material market can be segmented by type as Microprismatic, Glass and Ceramic Beads. The applications of reflective material are widespread in several industries including building & construction, automotive, textile and healthcare.

Market Drivers

The major driving force for the development of the reflective material market is the rising demand for materials that have high visibility, thus providing workplace safety and reducing the number of accidents. Reflective coatings products witness maximum demand from the textile industry since it plays a vital role in the production of apparels, which can resist flames, thus ensuring the safety of people. Increasing consumer purchasing power and changing lifestyle may positively affect the market. Traffic safety management is one of the essential factors that is anticipated to drive the growth of the market during the forecast period.

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Regional Analysis

According to reports, the Asia Pacific region will be one of the prominent consumers of the reflective material market globally over the forecast period. Manufacturers in India, China and Japan procure raw materials at a lower and affordable cost. China is the key consumer of reflective textiles due to the presence of a large number of textile manufacturers and rapid urbanization in the country.

COVID-19 Impact on the Global Reflective Material Market:

The latest report is the first Reflective Material market research document covering the current global economic landscape severely impacted by the COVID-19 outbreak. The global health emergency has resulted in unprecedented changes in the global economy, thereby disrupting the Reflective Material business sphere's functioning. The current scenario of this ever-evolving business vertical has been clearly depicted in the report, with a broad evaluation of the pandemic's present and future effects.

Key Players Profiled in the Report Include:

3M, ORAFOL Europe GmbH, Avery Dennison Dominic Optical, NIPPON CARBIDE INDUSTRIES CO. INC., REFLOMAX, Palho Group, Jinsung Corporation, Viz Reflectives, and Daoming Optics & Chemical Co. Ltd, among others.

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The Reflective Material market is segmented on the basis of product types and applications offered by the market to impart an easy understanding of the Reflective Material market operations and covers:

By Product Type:

· Fabric

· Sheet

· Coatings

· Paints & Inks

· Tape & Films

· Specialty Products

· Others

By Application:

· Building & Construction

· Textile

· Automotive

· Healthcare

· Others

Regional Perspective:

The global Reflective Material market has been categorized into several significant regions, such as North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. This section of the report analyzes the presence of the global Reflective Material market across the major regions. It determines the market share, market size, revenue contribution, sales network and distribution channel, and other key elements of each regional segment.

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Report Highlights:

Sales & Revenue Analysis – The report includes accurate market sales volume and revenue estimations, assessed using useful analytical tools.

Supply and Value Chain Analysis: This section of the report offers a detailed examination of the global supply and value chains, which have been drastically affected by the COVID-19 pandemic.

Competitive Scenario: This section highlights both the emerging and dominant players of the global Reflective Material market and summarizes their company profiles, product portfolios, production capacities, and cost and revenue analyses.

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