Retroreflective Material Market is mainly driven by increased demand for the personal protective equipment due to the growing incidences of communicable diseases.
Sarasota, FL -- (SBWIRE) -- 08/14/2017 -- Global Retroreflective Material Market: Overview
The retroreflective material provides enhancement in the vision of the objects, signage, traffic visibility, vehicle safely marking, high visibility in the clothing during nighttime and other road safety applications. Retroreflectivity is a phenomenon that is optical which classifies the capability of the object to return the light to its source. Retroreflectivity is achieved with the help of several reflections inside a retro-reflector.
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Global Retroreflective Material Market: Segmentation
The global market for the retroreflective material is fragmented into its technology, application, and end-user industry. On the basis of technology, the global market is segregated into cube corner reflector or prismatic and glass spheres or beads. On the basis of application, the market is categorized into traffic safety systems, personal protective equipment, and others. The personal protective equipment segment is further sub-segmented into face & eye protection, foot & leg protection, protective clothing, hand & arm protection, head protection, and others. The traffic safety systems segment is sub-categorized into pavement markings, vehicle safety markings, and road signage. On the basis of end-user industry, the market is categorized into firefighting industry, healthcare industry, construction & manufacturing industry, oil & gas industry, food industry, mining industry, and others.
Global Retroreflective Material Market: Growth Factors
The major factors that are contributing to the market growth are the increased demand for the personal protective equipment due to the growing incidences of communicable diseases and the rise in the demand for the improved safer navigation on the roads are driving the growth of the retroreflective material market. The other prominent factors that will fuel the market growth in the coming years include the improvement in the traffic safety system and the developments in the retroreflective technologies. Certain factors that attribute to restrain the market growth in the coming years include the availability of the substitute materials, strict regulations that are implemented for the safety of the employee, and the limited service life.
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Global Retroreflective Material Market: Regional Analysis
According to the regional study, the global market for the retroreflective material is diversified into Eastern Europe, North America, Asia Pacific, Latin America, Western Europe, and the Middle East and Africa. The retroreflective market is dominated by Asia Pacific region and is followed by Europe. The factors that are contributing to the market growth in these regions are developing economies, increased demand for the equipment that is used for the personal protection by the manufacturing and the construction industries, and the well-developed infrastructure for the research and the development. The market is growing in Asia Pacific region owing to the increased rate of the traffic related accidents, increased capacity of the production of the personal protective equipment, and the growing investments.
Global Retroreflective Material Market: Competitive Players
The key market players that are involved in the retroreflective material market include Satra Technology Centre Ltd., 3M, Wagner-Tech-Textil GmbH., Orafol Europe GmbH., Satra Technology Europe Ltd., Nippon Carbide Industries Co., and others.
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Global Retroreflective Material Market: Regional Segment Analysis
The Middle East and Africa