India Reflective Tapes Market Increasing Adoption in Manufacturing and Industrial Sectors

 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

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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

Key Companies & Market Share Insights

The industry is moderately competitive on account of the presence of few leading players in India. These players compete in terms of advanced technological innovations and product development. Reflective tapes are distributed through multiple channels in the country. Manufacturing companies market their product directly, as well as through local distributors. A few of the distributors involved in the value chain are individual sellers of products that are acquired from the manufacturing companies.

List Of Key Players India Reflective Tapes Market

  • Sha Kundanmal Misrimal
  • AVANTIKA ELCON PVT. LTD.
  • 3M
  • Shiva Industries
  • Kohinoor Enterprises
  • HS Tapes

Gather more insights about the market drivers, restrains and growth of the India Reflective Tapes Market

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