Reflective Materials Market Trends

Growth Drivers

Increasing Spending For Infrastructure in the Developing Economies

Reflective materials are used widely in the construction and infrastructure industry. Increasing developments observed in the developing economies provide a great opportunity for the applications of reflective materials, especially in road markings, safety cones and signboards amongst others. Further, increasing developments of government infrastructure in nations worldwide is also anticipated to drive the growth of the global market throughout the forecast period.

Growing Opportunities Developed by the Utilization of Ceramic Beads Technology

Ceramic beads technology is the most advanced form of technology that is used to manufacture reflective materials. By the utilization of ceramic beads technology, which are known to have a high reflective index and a robust structure when compared with glass beads, the retro-reflectivity property is therefore enhanced, when compared to the glass beads. Moreover, several manufacturers in the reflective materials industry are increasingly shifting their focus towards the adoption of ceramic beads technology owing to easy installation, greater durability and as well as provide greater financial benefits to the users. Such factors are anticipated to drive the growth of the global market over the forecast period.

Restraints

Limited Shelf Life

The reflective materials are known to have limited shelf life, especially the films, tapes and sheets, therefore requiring repetitive change of the product. As a result, customers are faced with increased operational costs while utilizing the reflective materials, which is anticipated to act as a major restraint factor towards the growth of the market during the forecast period.