India Reflective Tapes Market To Reach $340.5 Million By 2030

India Reflective Tapes Market Growth & Trends

The India reflective tapes market size is expected to reach USD 340.5 million by 2030, registering a CAGR of 2.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing product usage in automobiles, driveways, airports, shipyards, home appliances, and safety clothing is expected to propel the market.

Specific regulations regarding the use of reflective materials for vehicles, by the Regional Transport Office (RTO), to avoid accidence is estimated to bolster the demand for the product in automotive applications. In addition, several regulations from the Indian government for enhancing safety in Indian roadways and industrial facilities is anticipated to escalate the growth of the market.

Rising traffic management complications coupled with increasing number of road accidents have led the Indian government to improve country’s road infrastructures, thereby enhancing safety for both vehicles and people. Repair and maintenance are considered as the primary need in the present scenario, which is projected to boost the demand for illuminating reflective strips over the forecast period.

Industry participants compete on the basis of advanced technological innovations and new product development. In addition, companies dominate buyer’s power concerning to prices and availability of raw material for manufacturing final products, which comply with governmental regulations.

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India Reflective Tapes Market Report Highlights

• Engineer grade glass bead reflective tapes are poised to witness a CAGR of 2.8% during the forecast period, on account of properties such as less reflective, affordable, and reflection of light back at a wider angle as compared to other tapes

• Major players in the industry are marketing their products by providing extensive product portfolio for catering to demand from diverse sectors, thereby obtaining a competitive edge in the market.

• The demand for non-metalized micro-prismatic reflective tapes is estimated to witness a CAGR of 2.3% during the forecast period. They are likely to experience significant growth over the coming years owing to their ability to withstand harsh conditions

• The clothing application segment is expected to expand at a CAGR of 1.6% owing to surging demand for personal protective clothing

India Reflective Tapes Market Segmentation

Grand View Research has segmented the India reflective tapes market based on application and product:

India Reflective Tapes Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• Automobile

• Building & Construction

• Clothing

• Others

India Reflective Tapes Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• Engineer Grade Glass Bead Reflective Tape

• High Intensity Glass Bead Reflective Tape

• Metalized Micro-Prismatic Reflective Tape

• Non Metalized Micro-Prismatic Reflective Tape

List Of Key Players India Reflective Tapes Market

• Sha Kundanmal Misrimal

• AVANTIKA ELCON PVT. LTD.

• 3M

• Shiva Industries

• Kohinoor Enterprises

• HS Tapes