Middle East and Africa Retro-Reflective Materials Market, By Technology (Micro Prismatic Technology, Glass Beads Technology, Ceramic Beads Technology), Product Type (Films, Sheets, Tapes, Paints, Inks & Coatings, Retro-Reflective Threads, Retro-Reflective Fabrics), Application (Traffic Control & Work Zone, Conspicuity & Fleet & Vehicle Registration, Personals Safety, Others), End User (Automotive, Industrial, Construction, Textile, Others), Country (South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and Rest of Middle East and Africa) Industry Trends and Forecast To 2028
Market Analysis and Insights: Middle East and Africa Retro-Reflective Materials Market
The retro-reflective materials market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.2% in the forecast period of 2021 to 2028 and is expected to reach USD 1,237.93 million by 2028. Increase in the usage of retro-reflective materials to enhance visibility in low light conditions is expected to boost the demand for retro-reflective materials market
Retro-reflective materials are made using tiny glass beads which replicate light directly back toward its source, from a much broader angle than reflective material. The use of retro-reflective materials is the most constructive way to increase visibility at night or during low-light conditions. The most common use of retro-reflective materials is in traffic signboards, pavement markings, road safety marking, work zone equipment, safety clothing among others.
Rise in the demand for retro-reflective material in automotive industry is projected to drive the retro-reflective materials market. Less awareness regarding retro-reflective among the consumers is expected to hamper the demand for retro-reflective materials market. Stringent government regulations concerning vehicle and personal safety is expected to act as an opportunity for the retro-reflective materials market. Limited shelf life of retro-reflective products is expected to challenge the demand for retro-reflective materials market.
The retro-reflective materials market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the retro-reflective materials market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The retro-reflective materials market is segmented based on the technology, product type, application and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the retro-reflective materials market is segmented into micro prismatic technology, glass beads technology and ceramic beads technology. In 2021, micro prismatic technology segment is dominating the market because micro prismatic is stronger as well as measurable brighter material which is used to provide greater levels of retro-reflection with durability for permanent reflective which helps to boost its demand in the forecast year.
- On the basis of product type, the retro-reflective materials market is segmented into films, sheets, tapes, paints, inks & coatings, retro-reflective threads and retro-reflective fabrics. In 2021, films segment is dominating the market because films based retro-reflective materials helps to make the traffic signs more conspicuous and easier to read, for this reason films based retro-reflective materials are highly adopted among the consumers which helps to boost its demand in the forecast year.
- On the basis of application, the retro-reflective materials market is segmented into traffic control & work zone, conspicuity & fleet & vehicle registration, personal safety and others. In 2021, traffic control & work zone segment is dominating the market because retro-reflective materials are highly used in traffic control & work zone for safety concern which helps to boost its demand in the forecast year.
- On the basis of end user, the retro-reflective materials market is segmented into automotive, industrial, construction, textile and others. In 2021, construction segment is dominating the market because retro-reflective materials are highly used in construction in order to design safety and warning labels in the construction area which helps to boost its demand in the forecast year.
Middle East and Africa Retro-Reflective Materials Market Country Level Analysis
Middle East and Africa retro-reflective materials market is analyzed and market size information is provided by the country, technology, product type, application and end user as referenced above.
The countries covered in the Middle East and Africa retro-reflective materials market report are the South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa.
South Africa is expected to dominate in the Middle East and Africa retro-reflective materials market due to the large population that creates a large demand for construction and automotive industries that requires retro-reflective materials on a large scale thereby providing a large customer base in the region for the retro-reflective materials market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Retro-Reflective Materials
The retro-reflective materials market also provides you with detailed market analysis for every country growth in retro-reflective materials market. Additionally, it provides the detail information regarding the retro-reflective materials market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Retro-Reflective Materials Market Share Analysis
The retro-reflective materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Middle East and Africa retro-reflective materials market.
The major companies dealing in the Middle East and Africa retro-reflective materials market report are 3M, AVERY DENNISON CORPORATION, ORAFOL Europe GmbH, Coats Group plc, Yeshili NEW Materials Co.,Ltd, GIOLITE LUMIAN CO.,LTD., Changzhou Hua R Sheng Reflective Material Co., Ltd, MagnaColours among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the retro-reflective materials market.
- In May 2021, ORAFOL Europe GmbH launched a new product line named ORALITE series for foldable signs. The new product line consists of three products, 5237M, 5937M and 5937MFlex that are three new monolayer films which finds application in foldable signs and are resistant to water and dirt. The company expects to improve its product portfolio as well as sales with the launch of these new products.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company footprints in the retro-reflective materials market which also provides the benefit for organization’s profit growth.