Reflective Tape Market Research, 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 also identified as safety tape and made up from the polyester and PVC. This tape is constructed with aggressive weather resistant adhesives coated with flexible films which holds an encapsulation of reflective materials. It is widely used to highlight or mark the 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.
The demand for reflective has been increased in renewable energy infrastructure, auto components, electric vehicles, and in industrial sector. Furthermore, several manufacturers have increased their production capacities for reflective tape owing to its extensive use in various end use industry. For instance, ROTHO BLAAS SRL company offers single sided reflective tape for automobile and manufacturing industries where it is mainly used on thermal insulating material on automobile door panels. In response to this, it is extensively used in the sealing of manholes, manufacture of metal silos and vessels in the manufacturing industries. This may act as one of the key drivers for the growth of reflective tape during the forecast period.In addition, double sided reflective tape is easy peelable, and double coated adhesive tape. Mainly used in outdoor and indoor applications, as a safety measures, warning signage, and building and construction sectors. There are different types of double sided reflective tapes such as rubber based double sided reflective tape, double sided butyl tape, double sided box reflective tape, and among others are widely used in building and construction industry, automotive, and packaging industry.
However, lack of awareness among people regarding the benefits and usage of reflective tape will expected to hamper the market growth. 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 raw material of reflective tape will also affect the growth of market. These factors may hamper the growth of the reflective tape market during the forecast period.
On the contrary, the emergence of reflective tape in industrial sector has enhanced the performance of reflective tape during the forecast period. Furthermore, several manufacture have increased their production capitates for reflective tapes due to its high demand in, manufacturing plants, construction sites, factories, and petrochemical sector. For instance, reflective hazardous warning tape from Acme Supplies Limited, are widely used as safety measures, effective indicator, and signage in factories, chemicals industry, construction sites, and among others. This is anticipated to increase the sales of reflective tape in petrochemical and manufacturing plants; thus, creating lucrative opportunities for the market.
The major companies profiled in this report 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, Shiva Industries, and Tapeindia
The reflective tape market is segmented into Material Type, Product Type and End-Use Industry.
The Asia-Pacific reflective tape market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major market share in 2021 with 46% share in the global market. The rising building & construction, chemical manufacturing, marine, packaging, automotive, and other sectors have enhanced the performance of the reflective tape in the Asia-Pacific region. China's consumer electronics sector is increasing rapidly, which in turn has enhanced the performance of the reflective tape market in the region. Also, countries such as India and Australia are witnessing a rapid increase in transportation and automotive sectors where reflective tape is employed as protective coating and safety measures to provide structural integrity in transportation equipment and reduces accidental events during night and also increase their average lifespan. For instance, according to a report published by the Indian Ministry of Commerce and Industry, the transportation sector in India is expected to grow at a compound annual rate (CAGR) of 5.9%, owing to the development of highways, widespread railway networks, aviation ports, and waterways structure. Wherein reflective tape is gaining popularity in marine sector where it is used as effective indicator material during the night.
In 2021, the plastic resins segment was the largest revenue generator, and is anticipated to grow at a CAGR of 7.4% during the forecast period. The plastic based red retro-reflective tapes are micro-prismatic, high strength, and high tenacity due to which it is widely used in manufacturing of heavy vehicles. In addition, it is useful in preventing leakage, fill cracks, joints of various plastic based components. For instance, Kohinoor Enterprises offers road barrier and cones where reflective tapes are employed as safety measures. In response to this, rise in number of road accidental incidences has enhanced the performance of reflective tape. For instance, according to a report published by WHO in the June 2022, 1.3 million people die each year as a result of road traffic crashes. Reflective tapes are good source of illumination and reflection and moreover, it can visible during night time owing to which it is used as traffic sign material and safety conspicuity. These factors are increasing the overall potential sales of reflective tape in near future. In addition, growing industrial sector such as oil &gas, petroleum plants, chemical plants in both developed and developing economies are escalated the need for reflective tapes.
In 2021, the double-sided reflective tape segment was the largest revenue generator and is anticipated to grow at a CAGR of 7.1% during the forecast period. Double sided reflective tape is easy peelable, and double coated adhesive tape. Mainly used in outdoor and indoor applications, as a safety measures, warning signage, and building and construction sectors. There are different types of double sided reflective tapes such as rubber based double sided reflective tape, double sided butyl tape, double sided box reflective tape, and among others are widely used in building and construction industry, automotive, and packaging industry. The growing automotive sector projected to increasing purchasing power of customers has surged the popularity of double sided reflective tapes, where butyl rubber based double sided-reflective tapes are extensively used for fixing the number plates. Furthermore, double sided reflective tapes are most widely used as safety measures and also considered as unique safety tapes, sew on stretch fabric, garments, sportswear and others. In addition, it is most ideal tape for pump manufacturers due to its high tensile strength and more coverage area made it most preferred tape on the rubber surfaces. This is expected to boost the demand for double sided reflective tape during the forecast period.
In 2021, the building and construction end-use industry was the largest revenue generator and accounted for 33% market share in 2021. Reflective tapes are used as safety measures in various residential and commercial, building & construction sites such as hotels, hospitals, homes, flats, warehouses, showrooms, garages, and offices, for protecting pipelines and sealing warehouse floors. In addition to this, it protects concrete surfaces, strengthens materials, and protects metal infrastructures from UV, moisture, air, and decay. Growing population has led the building & construction sector to witness a significant growth where reflective tape are widely used for protective coating and sealing applications. For instance, according to a report published by the International Trade Administration, China’s construction industry is projected to grow at an annual average rate of 8.6% from 2022 to 2030. This may propel the demand for reflective tape in the growing construction sector during the forecast period. Moreover, growing demand for building and construction activity, increase government focus toward adoption of underground parking and subway station has escalated the demand for reflective tape where it is used as effective indicator on ledges, steps, bollards and posts. These factors are boosting the market growth in upcoming years.
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.
Reflective Tape Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 6.8 billion |
 Growth Rate | CAGR of 6.9% |
 Forecast period | 2021 - 2031 |
 Report Pages | 340 |
 By Material Type |
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 By Product Type |
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 By End-Use Industry |
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 By Region |
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 Key Market Players | The 3M Company, Vijay Agency, Bostik, Jining Xunda Pipe Coating Materials Co. Ltd., DuPont, Acme Supplies Limited, Scapa Group plc, Nitto Denko Corporation, Asian Paints, Aggarwal Brothers, H.B. Fuller, Saint-Gobain, Henkel AG and Co., Omega Rubber Industries, Isoltema Group |
Analyst Review
According to CXOs of leading companies, the global reflective tape market is expected to exhibit high growth potential. Reflective tapes are used on helmets, backs of vehicles, rolling stock or trailers, floors, wooden furniture, metal-based components, and others. It used as effective indicator & safety measures, ultra violet (UV), and moisture resistance purposes in a various end-use sector such as building & construction, transportation, automotive, marine, sports and leisure, packaging, industrial, and others. Automotive and industrial equipment require high strength, UV protection, high visibility, and reflective tape possess micro prismatic property that helps the passenger to find ways during night and low light situation.
In addition, reflective tape possesses excellent significant properties such as high mechanical strength, adhesion to visibility, thermal resistance, chemical resistance, and UV resistance that make it best suited for automotive & building and construction applications. Furthermore, factors such as flexibility in operation, ease of application, and minimal or no volatile organic compounds (VOCs) levels enhance performance of reflective tape in several end-use industries. CXOs further added that sustained economic growth and development of the building & construction sector have increased the popularity of reflective tapes
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. These are the upcoming trends of reflective tape market in the world.
Building and construction is the leading application of reflective tape market
Asia-Pacific is the largest regional market for reflective tape
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
3M Company, DuPont, Honeywell International Inc., and Nitto Denko Corporation are the top companies to hold the market share in reflective tape
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