Reflective Tape Market By Material Type (Plastic Resins, Rubber, Foam, Silicone, Others), By Product Type (Single-sided Reflective Tape, Double-sided Reflective Tape), By End-Use Industry (Building and Construction, Automotive, Sports and Leisure, Marine, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global reflective tape market was valued at $3.5 billion in 2021, and is projected to reach $6.8 billion by 2031, growing at a CAGR of 6.9% from 2022 to 2031.
Reflective tapes are identified as safety tape and made up from polyester and PVC. This tape is constructed with aggressive weather resistant adhesives coated with flexible films, which hold an encapsulation of reflective materials. It is widely used to highlight or mark an area and it is clearly visible in day and night. In addition, it is used in door and window installations and offers added layer of protection in rough opening. Reflective tapes are added as single and double layer.
Growth in population coupled with rapid urbanization and rise in consumer demand for vehicles have surged the growth of the automotive sector in both developed and developing economies, where reflective tapes are widely used to improve visibility of vehicles at night. In addition, reflective tape has micro prismatic material, which provides bright, vivid retro-reflectivity at wide angle due to which it is most preferred tape in the automobile industry. This is expected to boost the demand for reflective tape in the growing automotive sector. In addition, strong economic growth has surged the establishments of industries where reflective tape is used as a protective and safety measures of employee and worker at industrial sites. This may propel the growth of the reflective tape market.
However, strict government norms and regulations on the plastic based reflective tape product may hamper the market growth. In addition, fluctuation in the prices of reflective tape affects the growth of market. These factors may hamper the growth of the reflective tape market during the forecast period.
On the contrary, increase in awareness of passenger and employee safety on working site, , and police officer directing on the road traffic have increased the demand for high effective reflective tape. Reflective tapes are good source of illumination and they can be easily applied on the fabrics such as protection jacket, gloves, helmets, and others. These factors make reflective tape highly preferred for illuminating and safety applications in various end use sectors. This is anticipated to increase sales of reflective tape in several end-use sectors; thus, creating lucrative opportunities for the market.
The reflective tape market is segmented on the basis of material type, product type, end user industry, and region. On the basis of material type, the market is categorized into plastic, rubber, foam, and others. On the basis of product type, the market is divided into single-sided reflective tape and double-sided reflective tape. On the basis of application, it is fragmented into building & construction, automotive, sports & leisure, marine, packaging, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global reflective tape market profiles leading players that include 3M company, Acme Supplies Limited, Ajit Industries Pvt. Ltd., DuPont, GOMEC, Henkel AG & Co, Honeywell International Inc., HS Tape, Kohinoor Enterprises, Nitto Denko Corporation, ORAFOL Europe GmbH, REFLOMAX, Scapa Group plc, Shiva Industries, and TapeIndia. The global reflective tape market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the reflective tape market analysis from 2021 to 2031 to identify the prevailing reflective tape market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the reflective tape market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global reflective tape market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Material Type
Plastic Resins
Rubber
Foam
Silicone
Others
By Product Type
Single-sided Reflective Tape
Double-sided Reflective Tape
By End-Use Industry
Building and Construction
Automotive
Sports and Leisure
Marine
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest Of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
The 3M Company
Acme Supplies Limited
Aggarwal Brothers
Asian Paints
Bostik
DuPont
H.B. Fuller
Henkel AG and Co.
Isoltema Group
Jining Xunda Pipe Coating Materials Co. Ltd.
Nitto Denko Corporation
Omega Rubber Industries
Saint-Gobain
Scapa Group plc
Vijay Agency
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