The demand within the global retroreflective materials market has been rising on account of several applications of these materials across key industries. Retroreflective materials are used to increase the visibility of traffic signals, high-visibility clothing, and other similar item during night time. The term retroreflective is indicative of the ability of these materials to reflect back light that falls on its surface without scattering to high values. The demand for retroreflective materials has been rising on account of the need to dispel several signals and warning during night time across a wide range of industries. An interesting fact about retroreflectors is that the eues of certain animals naturally act as retroreflectors, thus, making it easy to find them during night time.
This blog by TMR on the global retroreflective materials market sheds light on a number dynamics that have aided the growth of this market in recent times.
- Need for Traffic Safety
Road traffic has been rising at night times due to changes in the lifestyles of the masses, and this has played an integral role in the growth of the global market for retroreflective materials. Furthermore, the quest of the government to install safe and readable traffic signals for night-time vision has enhanced the growth prospects of the global market for retroreflective materials.
- Availability of Substitutes
Despite the prevalence of several drivers of demand within the global market for retroreflective materials, the growth of the market is hampered by the availability of substitutes for retroreflective materials. Furthermore, the life of such materials is short which brings the question of their usage in public places.