Global Reflective Tape Market: Overview
Visible charts or sign boards or notices are used to guide people or warn about safety issues. Reflective tapes are used to improve the visibility of these safety warning signs. These tapes are particularly useful at night time. These tapes consist of glass beads or micro-prismatic technology, which facilitates reflection of light from the tape surface when light falls on them. Often, reflective materials are employed in industrial uses such as road safety signs, and work gear and vehicle marking and identification. Yellow and silver colors are generally preferred for reflective tapes, as these are prominently visible compared to other colors. Reflective tapes are an important part of warehouses, where they are employed to mark machinery such as forklifts when they are stationary. This can help prevent accidents and injuries by highlighting danger.
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Global Reflective Tape Market: Key Segments
For the purpose of market estimation, the global reflective tape market can be segmented in terms of color, technology, and end-use industry. Based on color, the reflective tape market can be classified into yellow, silver, and others. In terms of technology, the market can be divided into glass bead technology and micro-prismatic technology. Glass bead technology can be further sub-divided into engineer grade glass bead reflective tape and high intensity glass bead reflective tape. Micro-prismatic technology can be further classified into metallized micro-prismatic reflective tapes and non-metallized micro-prismatic reflective tapes. Resins used in these types of reflective tapes are either acrylic or vinyl polyester. Reflective tapes made using glass bead technology are more cost effective. Key end-use industries for reflective tapes include automotive, housing & construction, industrial, mining, oil & gas, fire, consumer sports activities, and others. Reflective tapes are stuck to cars, bikes, bicycles, etc. to improve their visibility while driving at night. This is important from the safety point of view.
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Global Reflective Tape Market: Regional Outlook
In terms of region, the global reflective tape market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is estimated to be the prominent consumer of reflective tapes in the world. Demand for reflective tapes in Asia Pacific is primarily from housing & construction and industrial segments. Reflective tape is a cost effective method for warning people against possible hazards. Development of housing & construction and manufacturing industries in Asia Pacific is anticipated to fuel the demand for reflective tapes market in the region during the forecast period. North America is another prominent consumer of reflective tapes. Expansion in the industrial sector is estimated to boost the demand for these tapes in the region in the next few years. The reflective tape market in Europe is projected to expand at a sluggish pace in the near future. However, Latin America and Middle East & Africa are likely to create lucrative opportunities for the reflective tape market during the forecast period owing to the expansion in end-use industries.
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Global Reflective Tape Market: Key Players
Key players operating in the global reflective tape market include:The 3M Company, Avery Dennison Corporation, Heskins Limited, REFLOMAX, Brady Worldwide Inc., Qualisys AB, ORAFOL Europe GmbH., Alanod GmbH, and XM TEXTILES EUROPE.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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