세계의 재귀반사 소재 시장 - 예측(2024-2029년)

The global retro-reflective materials market is expected to grow at a CAGR of 13.72% during the forecast period (2024-2029).

Retro-reflective materials are reflective material that bounces back light in the same direction as where it came. Normal reflective material reflects light in every direction, but retro-reflective material has tiny glass beads or prisms that direct the light back. This attribute makes retroreflective materials very useful in enhancing visibility, especially in low-light conditions. Such materials are applied to traffic signs and protective clothing for personnel who operate at night or in areas with low illumination. They are also available in several colors and may transmit light colors; hence, they can be used for many purposes.

Retroreflective materials have been proposed as a novel approach to minimize cooling energy use while also improving urban microclimates. Conventional reflective materials, whether white or colored, produce diffuse and specular reflection. When applied to rooftops, traditional reflecting materials reflect solar energy into the sky when there are no high-rise structures nearby. However, when high-rise buildings exist nearby, high diffuse-reflective roofs and walls reflect energy to those structures and neighboring roadways, making them hotter and limiting the overall effect against the heat island. Retroreflective materials may reflect incoming energy to its source independent of the angle of incidence.

GLOBAL RETRO-REFLECTIVE MATERIALS MARKET DRIVERS:

• The rise of the automobile sector has a significant impact on the retroreflective materials market, boosting demand for safety and aesthetic applications. Retroreflective material use has significantly increased in vehicle production as the stricter safety standards regulating cars' optical properties control the necessity of using such materials to increase car visibility at night. These materials are important because they enhance the visibility of cars, road signs, and markings and, therefore, reduce the incidence of accidents and overall road safety. As per the PIB, two-wheelers, motors, and passenger automobiles took the major market shares for the FY 2021-22. The market share was 77% for two-wheeler motors and 18% for passenger automobiles. With the growth in the automobile market, the demand for retro-reflective materials further increases.

In accordance with this, in 2021, the production of automobiles by German manufacturers exceeded 15.6 million units as per the GTAI (Germany Trade & Invest). More than 3.1 million passenger cars and 3,51,000 units come from commercial automobiles assembled in Germany's manufacturing industries in 2021, which shows that Germany is the largest automotive manufacturing industry in Europe. Similarly, per the statistics gathered from the India Brand Equity Foundation (IBEF), organizations considering vehicle manufacturing in India for both passengers and commercial vehicles reached 23.90 million in the financial year 2023.

Automobile manufacturers also include retroreflective materials in vehicle designs to improve aesthetics and brand recognition. Technological developments in these materials promote their usage in sophisticated lighting systems and other safety features, fostering innovation and market growth in the retroreflective materials industry.

• Technological advancements and product innovation in the retroreflective materials market are redefining safety and visibility solutions worldwide. Improved reflecting characteristics and customization options boost the efficacy of road signs, automobile lights, and personal safety equipment. Integration with smart technology broadens their application in intelligent transportation systems and urban infrastructure.

For instance, 3M, a company in the science of retroreflection, has grown technology to the next level in various unique ways over the last seventy years. The 3M Scotchlite Reflective Material currently offers more than 35 products in the market as well as high-performance products alike, making it among the most diverse portfolios in the industry. As a trend, it has a renowned name in terms of revealing material technology. The company maintains a large state-of-the-art research and demonstration Visibility Research and Demonstration Centre.

In addition, the Graphic Materials Division of ORAFOL Americas Inc. produces a diverse range of high-quality vinyl graphic films, digital media films, laminating films for signs and graphics, digital and screen printing, and reflective materials for Traffic and Safety signs. ORAFOL Americas also sells various industrial tapes for various purposes, including the solar sector and point-of-purchase systems. The company's distribution network extends across the United States, Canada, Latin America, and the Caribbean. For over 55 years, ORAFOL has been a pioneer and technical leader in developing the world's brightest retro-reflective materials.

In addition, material sustainability also has environmental consciousness for addressing numerous environmental problems and ensuring they conform to global standards and legislations. They help in market expansion because they respond to the diversified needs of industries and enhance safety requirements for various applications and markets. The Avery Dennison V-4000, for instance, is a beaded retro-reflective cast film with superior quality due to innovations in long-term commercial/EMERY fleets. It is ideal for scribing and cutting, even when printing with screen presses.

GLOBAL RETRO-REFLECTIVE MATERIALS MARKET SEGMENT ANALYSIS:

• Based on the end-user industry, the construction sector is one of the fastest-growing segments.

The increasing application in the construction sector supports a positive impact on the global market of retroreflective materials due to several factors. They are also employed in construction sites for multiple and diverse uses, such as road signs, traffic cones, safety jackets, marks on vehicles and sites, and other traffic signs. In addition to the construction of new infrastructure, primarily in large cities and the growing transportation industry, there is a growing requirement for these materials to enhance visibility and protect workers, pedestrians, and drivers.

Therefore, the retroreflective materials market is anticipated to grow due to an increasing demand for constructing new buildings worldwide. The US Census Bureau, with the US Department of Housing and Urban New residential construction data, gave permit data for April 2024, which stated a total permit of 14,40,000 and completions of 16,23,000.

According to the figures from the Canadian Construction Association, the nation's construction sector contributes approximately USD 151 billion to its economy every year. This stands at roughly 7.4% of Canada's gross domestic product. Thus, such interest from the construction sector helps to create, develop, and expand the market for retroreflective materials as essential elements of construction safety and successful infrastructure projects worldwide.

• Asia Pacific's retro-reflective materials market is anticipated to grow significantly.

The Asia Pacific retroreflective materials market is expanding rapidly, owing to rising urbanization, infrastructural development, and strong regional safety requirements. China, India, and Japan are the countries with the highest demand for retroreflective materials in road safety applications such as signs, markings, and traffic control systems.

Expansion of vehicle manufacturing and increased investment in smart city projects drive market growth even further. Reflective technology innovations and a focus on sustainability are transforming the market, with producers catering to various industry requirements. In addition to this, China remains the world's largest market for the sale of automobiles and the production of cars. The manufacturing of automobiles within the domestic market is expected to be over 35 million automobiles in 2025 in China. Alongside this, under the NIP, India has a US$1.4 trillion infrastructure investment budget, with 24% allocated to renewable energy, 18% to roads and highways, 17% to urban infrastructure, and 12% to railroads.

According to the data presented by TexProcil, in January 2023, the import of clothes and accessories to Japan went up by 21. 6 % to 3,08,847 million yen (US$2,301.96 million). Combined, the two accounted for 1% of total imports of US$1,00,47,783 million during the review period based on the provisional trade statistics from the Far Eastern country's Ministry of Finance.

Apart from this, Government statistics disclosed that the overall revenues of China's textile giants rose by 7.2 % yearly in 2023. These enterprises, as reported by the Ministry of Industry and Information Technology, produced 180.2 billion yuan (approximately US$25.38 billion) in earnings in 2022. However, the total operation income of these enterprises was 4.70 trillion yuan, continuing its decline from 0.8 percent in 2022, as revealed by the ministry. The region's rapid economic expansion and increased safety regulations highlight the need for retroreflective materials to improve visibility and safety throughout Asia Pacific.

Global Retro-reflective Materials Market Key Developments:

• In October 2022, 3M's new Scotchlite Reflective Material Industrial Wash and Flame Resistant Reflective Transfer Films provide unparalleled wash durability, meeting growing needs.

The global retro-reflective materials market is segmented and analyzed as follows:

By Technology

• Ceramic Beads
• Glass Beads
• Microprismatic

By Product Type

• Film, Sheet and Tapes
• Paint, Ink & Coatings
• Others

By End-User Industry

• Automotive
• Construction
• Public Safety and Law Enforcement
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Rest of the Middle East and Africa
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
  • 4.1.1. Growing Adoption in the Automotive Industry
  • 4.1.2. Urbanization and Traffic Management
• 4.2. Market Restraints
  • 4.2.1. High Initial Cost
  • 4.2.2. Performance Limitations
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. The Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. GLOBAL RETRO-REFLECTIVE MATERIALS MARKET BY TECHNOLOGY

• 5.1. Introduction
• 5.2. Ceramic Beads
• 5.3. Glass Beads
• 5.4. Microprismatic

6. GLOBAL RETRO-REFLECTIVE MATERIALS MARKET BY PRODUCT TYPE

• 6.1. Introduction
• 6.2. Film, Sheet, and Tapes
• 6.3. Paint, Ink & Coatings
• 6.4. Others

7. GLOBAL RETRO-REFLECTIVE MATERIALS MARKET BY END-USER INDUSTRY

• 7.1. Introduction
• 7.2. Automotive
• 7.3. Construction
• 7.4. Public Safety and Law Enforcement
• 7.5. Others

8. GLOBAL RETRO-REFLECTIVE MATERIALS MARKET BY GEOGRAPHY

• 8.1. Global Overview
• 8.2. North America
  • 8.2.1. United States
  • 8.2.2. Canada
  • 8.2.3. Mexico
• 8.3. South America
  • 8.3.1. Brazil
  • 8.3.2. Argentina
  • 8.3.3. Rest of South America
• 8.4. Europe
  • 8.4.1. United Kingdom
  • 8.4.2. Germany
  • 8.4.3. France
  • 8.4.4. Italy
  • 8.4.5. Spain
  • 8.4.6. Rest of Europe
• 8.5. Middle East and Africa
  • 8.5.1. Saudi Arabia
  • 8.5.2. United Arab Emirates
  • 8.5.3. Rest of the Middle East and Africa
• 8.6. Asia-Pacific
  • 8.6.1. China
  • 8.6.2. India
  • 8.6.3. Japan
  • 8.6.4. South Korea
  • 8.6.5. Taiwan
  • 8.6.6. Thailand
  • 8.6.7. Indonesia
  • 8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 9.1. Major Players and Strategy Analysis
• 9.2. Market Share Analysis
• 9.3. Mergers, Acquisitions, Agreements, and Collaborations
• 9.4. Competitive Dashboard

10. COMPANY PROFILES

• 10.1. 3M
• 10.2. Avery Dennison Reflective Solutions
• 10.3. Nippon Carbide Industries Co., Ltd.
• 10.4. Reflomax
• 10.5. ORAFOL Europe GmbH
• 10.6. Asian Paints PPG
• 10.7. Changzhou Hua R Sheng Reflective Material Co., Ltd
• 10.8. Coats Group Plc
• 10.9. Unitika Sparklite Ltd.
• 10.10. Aura Optical Systems