The global retro-reflective materials market size is expected to reach USD 30.2 billion by 2025, expanding at a CAGR of 26.5%, according to a new report by Grand View Research, Inc. Increasing demand for light and heavy commercial vehicles coupled with growing vehicle safety concerns is anticipated to promote the market growth.
Amplifying demand from the automotive industry across the globe is projected to propel the industry growth. In addition, rising use of retro reflective paints for traffic control and road marking is anticipated to boost the demand. Moreover, the growing construction activities in the economies in Asia-Pacific are likely to further benefit the retro reflective materials market.
The introduction of advanced products in the wake of rising concerns regarding workplace safety coupled with the presence of stringent regulations is expected to drive market growth. Reconstruction of highways and roadways across the globe is likely to propel the demand for such paints and tapes, due to high use in applications that enable superior visibility, which is further expected to drive retro-reflective materials market growth.
Factors such as stringent government regulations across the economies related to workers safety is projected to promote the use of retro reflective tapes, paints, and coatings across industrial and road safety applications. The infrastructural projects including expansion of roadways and railway networks in developing economies is anticipated to benefit growth.
Browse Full Report (Tables & Figures) @ https://www.grandviewresearch.com/industry-analysis/retro-reflective-materials-market
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