New York, May 19, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Retro Reflective Textiles Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by End Users (Construction, Oil & Gas, Mining, Transportation, Firefighters, Law Enforcement Agencies, and Others), Material (Tetoron Cotton, Polyester, Aramid, and Others), and Geography. The market for retro-reflective textiles is growing due to the increasing demand for the material caused by the increased regulations concerning workplace safety. Many industries and governments have mandated to wear of high visibility safety apparel to ensure workers’ safety.
High visibility safety clothing is made of a fluorescent-colored base that is designed to be highly visible. It also has strips or bands of retro-reflective textile which is intended to reflect light back to the source when light strikes the textile. Retro-reflective fabrics form a very strong light reflection when exposed to light, stimulating the optic nerve of the driver or equipment operator, which helps them in identifying the person and preventing accidents. The growing importance of workplace safety and high-visibility apparel in different work settings is driving the growth of the global retro-reflective textiles market.
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| Report Coverage | Details |
| Market Size Value in | US$ 2,872.8 million in 2021 |
| Market Size Value by | US$ 4,139.8 million by 2028 |
| Growth rate | CAGR of 5.4% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 148 |
| No. Tables | 56 |
| No. of Charts & Figures | 73 |
| Historical data available | Yes |
| Segments covered | End Users and Material |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Retro Reflective Textiles Market: Competitive Landscape and Key Developments
3M; Daoming Optics & Chemical Co., Ltd; Hangzhou Chinastars Reflective Material Co.,Ltd; Huangshan Xingwei Reflectorized Material Co., Ltd.; P S ENTERPRISES; Swicofil AG; Unitika Sparklite Ltd.; YGM Reflective; HJ Corp; and HIGHVIZ are among the prominent players operating in the global retro-reflective textiles market.
In 2020, Asia Pacific accounted for the largest share of the global retro-reflective textiles market. The construction & infrastructure industry is growing in the Asia Pacific. For instance, according to the Indian Brand Equity Foundation (IBEF), 783 projects were undertaken by the Indian government in 2017, and the construction projects recorded a growth rate of 1.23% from 2016 to 2017. Such large projects undertaken by the government demand high consumption of retro-reflective materials for employee safety wear. Highways also require retro-reflective films, sheets, and tapes for making signboards to navigate the drivers in low light conditions or nighttime. Such initiatives adopted by governments of developing economies, such as India, South Korea, and China, have helped the retro-reflective textiles market to grow gradually.
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Retro reflective textiles are used in various end-use industries, such as mining, construction, and transportation. In the mining industry, retro-reflective textiles help design safety vests and headwear. Similarly, workers in the oil & gas industry wear safety garments with strips of retro-reflective fabrics that keep them safe and visible. The construction industry is one of the significant users of safety apparel and retro-reflective textiles as heavy equipment is used frequently at the construction sites, the workers need highly conspicuous protective wear for better safety. Therefore, the rising demand for retro-reflective textiles from various end-use industries is significantly propelling the retro-reflective textiles market growth.
Retro Reflective Textiles Market: Segmental Overview
Based on end-users, the market is segmented into construction, oil & gas, mining, transportation, firefighters, law enforcement agencies, and others. In 2020, the construction segment accounted for the largest market share. Based on material, the retro-reflective textiles market is segmented into tetoron cotton, polyester, aramid, and others. In 2020, the polyester segment accounted for the largest revenue share in the market.
High visibility safety clothing is made of a fluorescent-colored base designed to be highly visible. It also has strips or bands of retro-reflective textiles intended to reflect light to the source when light strikes the textile. Retro-reflective textiles are the materials that reflect light to their source. These retroreflectors are being used for safety purposes in different end-user industries such as construction, mining, infrastructure, textile, and automobile.
These reflectors are used on signboards, apparel for personnel, and vehicles used in the construction sites at construction sites. Also, growing traffic safety systems are prominent factors for the need for retroreflective technologies. These materials can be used as traffic signboards, markings, and temporary traffic control applications. Thus, the growing importance of workplace safety and high-visibility apparel in different work settings is crucially driving the growth of the global retro-reflective textiles market.
Workplace safety refers to the standards set at a working environment of a company and encompasses all factors that impact employees' safety, health, and well-being. Accidents and casualties are becoming more common in workplaces where low visibility is an issue. Low visibility is a common issue on transportation, roadways, construction sites, oil & gas industries, firefighters, law enforcement agencies, mining sites, etc. Workers with no protective equipment are more likely to have accidents, injuries, and casualties as they are not easily spotted by the people operating heavy machinery.
Moreover, millions of workers are susceptible to strikes and run-over dangers while working near traffic and construction machinery. The significance of workforce safety measures is increasing at a frightening rate due to the rising number of workplace accidents caused by poor visibility.
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The construction industry is one of the rapidly growing industries in the region. The growing infrastructure in the developing countries and the increased housing in the region drive the growth of the retro-reflective textiles market. Moreover, the high growth of economic activities has led to an increased demand for transportation driven by applications, such as e-commerce. Therefore, the growth in the transportation end-use industry in the Asia Pacific has propelled the demand for retro-reflective textiles.
Based on material, the global retro-reflective textiles market is segmented into tetoron cotton, polyester, aramid, and others. The polyester segment held the largest share of the market in 2020; however, the tetoron cotton segment is expected to register the highest CAGR over the forecast period. Polyester is made from oil/petrochemical, and cotton is obtained from natural cotton plants. Tetoron Cotton is a polyester/cotton blend.
It is used as retro-reflective material for safety. It uses the principle of retro-reflection, which returns the light to the original light source when the light hits its surface. Reflective materials, such as tetoron cotton, are used for clothing. It is made of substrate, composite adhesive, reflective layer, and glass beads. It is widely used for outdoor safety reflective products, such as safety equipment, safety uniforms, work clothing, and sanitation clothing.
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The global retro-reflective textiles market is segmented into five main regions— North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. In 2020, Asia Pacific accounted for the largest share of the market. Many Asia Pacific countries, such as China and India, have the world's fastest-growing population.
Impact of COVID-19 Pandemic on Retro Reflective Textiles Market
During the COVID-19 pandemic, the chemicals & materials industry faced unprecedented challenges due to the shortage in raw materials, the shutdown of factories, labor shortages, and other operational difficulties under the pandemic safety protocols. The shutdown of manufacturing units, challenges in procuring raw materials, and restrictions on logistics adversely affected the global retro-reflective textiles market. The COVID-19 outbreak distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. However, various governments announced the relaxation of several restrictions, which mainly included reopening the manufacturing units. All these factors are driving the growth of the retro-reflective textiles market globally. The current market situation is relatively stable as manufacturers operate at full capacity, and the majority of the population is vaccinated.
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