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NEW YORK , March 14, 2022 /PRNewswire/ -- The global reflective material market size is expected to reach USD 36.90 Billion in 2028 and register a CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Steady market revenue growth can be attributed to factors such as rapid industrialization trend in developing economies, rising concerns regarding workplace and traffic safety management, steady developments across the construction sector in developing countries, and rising demand for reflective materials in the aerospace sector. Reflective material is a type of material that consists of reflective components, which allow light to reflect off various surfaces it is applied to.
Components that are being used in the production of reflective materials are micro prismatic materials, glass beads, and ceramic beads. Micro prismatic materials are made of very small reflective prisms that are sealed within a plastic vinyl sheet. It allows lights to reflect from prism to prism in triangular formation. Reflective materials are primarily mixed with paints, fabric, coatings to enhance the visibility of an object. Coatings segment accounted for the largest revenue share in global market in 2020. This can be attributed to increasing demand for reflective coatings in construction and textile industries due to its retro-reflective property.
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For the purpose of this report, Reports and Data has segmented the reflective material market based on product, material type, application and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
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Material Type Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue, USD Billion; 2018-2028)
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