Fact.MR’s recent study on the reflecting fabrics market reveals critical trends and key factors slated to impact the global industry from 2023 to 2033. It takes a detailed look at segments such as reflective element, product, application, end use, and region to provide insights for both leading and emerging players in the market.
Rockville, Feb. 16, 2023 (GLOBE NEWSWIRE) — Fact.MR – A Market Research and Competitive Intelligence Provider: The global reflective fabrics market is slated to expand at a healthy CAGR of 7.4{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} from 2023 to 2033. This is likely to increase its valuation from US$ 1.2 billion in 2023 to US$ 2.5 billion in 2033.
In recent years, demand for new and innovative materials has been steadily increasing from the fashion industry. Reflective fabrics are among these materials and their adoption is escalating due to their visibility and aesthetic appeal. They allow wearers to achieve unique appearances, and this special quality of reflective fabrics is slated to result in surging demand in the coming years.
Reflective fabric is now used in a wide range of clothing and accessories, such as jackets, hats, shoes, bags, and even jewellery. This versatility makes it an ideal choice for designers looking to stand out from the crowd. As the fashion industry continues to expand, it is likely that the demand for reflective fabrics would also accelerate.
As per statistics provided by National Council of Textile Organizations, the United States ranks second globally in terms of exports of goods connected to textiles. In 2021, the total value of fiber, textile, and clothing exports was US$ 28.4 billion.
In 2019, two thirds of the United States textile supply chain export excluding raw cotton and wool went to free trade partners in the Western Hemisphere. More than 200 nations were recipients of the United States textile exports, and 24 of those received imports worth $100 million.
Reflective fabric is also a popular choice for outdoor activities, providing extra visibility for safety and comfort. With the increased popularity of outdoor activities such as biking, running, and camping, the need for reflective fabrics is set to propel.
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Based on end use, construction industry is expected to be in the forefront of reflective fabrics between 2023 and 2033. Reflective fabrics are commonly used for designing safety vests, fire-resistant clothing, and other protective equipment for workers. The increasing demand for safety and protective gear in the construction industry is driving the market for reflective fabrics. Adoption of reflective fabrics is likely to be boosted further by stringent rules and regulations enforced by governments around the world to ensure worker safety.
Regionally, North America is expected to dominate the global market owing to the rising popularity of active wear, such as athleisure and sportswear. High-end fashion designers creating reflective garments and accessories is anticipated to further accelerate the sales in North America.
Key Takeaways:
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North America is estimated to account for 26.8{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} shares in the global reflective fabrics market from 2023 to 2033.
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East Asia market for reflective fabrics is slated to expand at a CAGR of 8.2{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} between 2023 and 2033.
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The United States is expected to hold a revenue of US$ 440.2 million in the market by the end of 2033.
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On the basis of application, a 40{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} share is likely to be held by the apparel and accessories segment in the global reflective fabrics market.
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By end use, construction segment is poised to hold a 33.7{05995459f63506108ab777298873a64e11d6b9d8e449f5580a59254103ec4a63} share in the global market.
Growth Drivers:
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Demand is likely to be fueled by governmental regulations, a burgeoning construction sector, and improved industrial management globally.
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Growing utilization of reflective fabrics in low-light or dim-light situations to ensure the wearer’s safety is also projected to raise the need for reflective fabrics.
Restraints:
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Reflective fabrics’ limited shelf life and low durability are expected to stymie progress.
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Government-imposed restrictions and regulations make it challenging for businesses to invest in the global market.
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Competitive Landscape:
Companies are likely to engage in the manufacturing of high-quality reflective tapes and films for use in vehicle and transportation management to improve visibility, in adverse weather conditions, and in emergency situations. These companies are also relying heavily on technological progress and the invention of novel goods to increase their market share and achieve sustainability.
For instance,
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In August 2022, Reflective Apparel, a producer of a full line of high visibility clothing, introduced RAflect50, a brand of high visibility (hi-vis) clothing made to endure the harsh chemicals and high temperatures of industrial laundries.
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In October 2022, the modern model of 3M ScotchliteTM reflective material commercial laundry and industrial wash flame proof reflective transfer sheets was launched. These new films include an ecofriendly construction that is Oeko-Tex Standard 100 approved, increasing durability while assisting specifiers in lowering the cost of ownership.
Key Companies Profiled by Fact.MR
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3M Co.
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Avery Dennison Corporation
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DM-Reflective
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Hangzhou Chinastars Reflective Material Co., Ltd.
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Orafol Europe GmbH
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Reflomax
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Roadstar Reflective Material Co., Ltd.
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Safe Reflections Inc.
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Schoeller Textiles
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Viz Reflectives
More Valuable Insights on Reflective Fabrics Market
In the latest study, Fact.MR offers a detailed study on global reflective fabrics market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of reflective fabrics through detailed segmentation as follows:
By Reflective Element:
By Product:
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Cloth
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Tapes
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Sheets and Films
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Others
By Application:
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Apparel and Accessories
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Transportation
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Roadside Facilities
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Decoration and Others
By End Use:
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Construction
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Aviation and Aerospace
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Oil, Gas, and Petroleum
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Maintenance
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Mining
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Others
By Region:
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North America
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Latin America
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Europe
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East Asia
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South Asia & Oceania
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Middle East and Africa
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Key Questions Covered in the Reflective Fabrics Market Report
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What is the global reflective fabrics market size?
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What will be the demand outlook for reflective fabrics over the forecast period?
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Which regional reflective fabrics market will account for a leading market share?
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Which is the leading industry for reflective fabrics?
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Who are the prominent players in the reflective fabrics market?
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What are the factors driving the reflective fabrics sales growth during the forecast period?
Explore Fact.MR’s Coverage on the Chemical & Materials Domain
Anti-Reflective Glass Market: Anti-reflective glass is a preferred choice for the solar and automobile sectors due to its superior endurance and contrast definitions. It is also created to reduce surface reflection and provide the best viewing experience, which are slated to support market expansion.
Retro-reflective Material Market: Demand for retro-reflective materials is anticipated to increase in the years ahead as a result of rising highway traffic management demand and strict regulatory rules linked to industrial worker safety. The automobile industry is also likely to contribute to overall market development.
Anti-Stain Fabrics Market: Increasing demand from the textile sector is likely to be the primary driver of the worldwide anti-stain fabrics market. The demand is anticipated to be further fueled by the rising emphasis on fashionable apparel options.
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