Specular Reflective Material Market By Product (Polyvinyl Chloride (PVC), Polyurethane (PU), Thermoplastic Polyurethane (TPU), And Others) And Application (Automobile, Aerospace, Building & Construction, And Others) - Global Forecast 2022 To 2027

Report Code: CMR 59412 Report Format: PDF + Excel

Specular Reflective Material Market Overview

Specular Reflective Material Market size is expected to be valued at US$6.4 billion by the end of the year 2027 and it is set to grow at a CAGR of 4.6% during the forecast period from 2022-2027. As described by fresnel’s equation and kramers-kronig transform, specular reflective material with an index of refraction of 1 or more, is one of the commonly used mirrors in various end use industry. Specular reflective mirrors are also called as dielectric mirror, which provides greater selectivity for reflection wavelengths and reflectivity, making dielectric mirror suitable for various applications ranging from optical uses, display technology and space technology. The specular reflection of a material is also easy to be estimated with the use of glossmeter, an instrument which measures the specular reflection of a surface. Furthermore, the increasing demand from construction sector and automotive sector is one of the key factors driving the specular reflective material market.

COVID-19 impact

Amid the Covid-19 pandemic, the specular reflective material market witnessed a major downfall in the growth and demand owing to the many economical and legal restrictions being imposed by countries across the world. There were restrictions and bans on export, import and other inter-country and inter-state activities, which further affected the specular reflective material market in terms of production, sales and distribution. The restrictions were in effect for the major part of the year 2020. However, the restrictions got eased out and the bans were lifted during the beginning of the year 2021 when the Covid-19 cases were decreasing. The specular reflective material market is expected to grow by the year end of 2021.

Report Coverage

The report: “Specular Reflective Material Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Specular Reflective Material Industry.

By Product: Polyurethane (PU), Polyvinyl Chloride (PVC), Thermoplastic Polyurethane (TPU) and Others.

By Form: Film, Fabric, Tape, Reflective Strips and Others.

By End-Use Industry: Building and Construction Industry, Automotive, Aerospace and Others.

By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa). 

Key Takeaways

  • Asia-Pacific market held the largest share in the specular reflective material market owing to the increasing population coupled with the increase in demand for infrastructure facilities is driving the specular reflective material market in the Asia Pacific region.
  • The increasing production of glass & ceramic and related products is one of the major factors driving the specular reflective material market.
  • The growing demand from the automotive industry is also majorly driving the specular reflective material market.
  • Amid the Covid-19 pandemic, the specular reflective material market witnessed a major downfall due to the various restrictions laid down by countries across the globe.

FIGURE: Specular Reflective Material Market Revenue, 2021-2027 (US$ Billion)

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Specular Reflective Material Market Segment Analysis – By Product

Polyvinyl Chloride (PVC) segment held the largest share of 38% in the specular reflective material market in the year 2021. Polyvinyl chloride (PVC) is used in a wide range of applications ranging from window panes, piping, medical devices, cables and wire insulation, flooring, roofing, automotive interiors and many others. The increase in application from these end use industries and applications is further driving the demand for polyvinyl chloride (PVC) in the specular reflective material market. According to Global Construction Perspectives and Oxford Economics report, the global construction industry is estimated to reach US$8 trillion by the year 2030. This will drive the demand for applications in flooring, roofing and window applications, which will further drive the demand for polyvinyl chloride (PVC) in the specular reflective material market.

Specular Reflective Material Market Segment Analysis – By Form

Film segment held the largest share of 40% in the specular reflective material market in the year 2021. Specular reflective film is used on mirrors and other applications like window panels on cars, in windows of buildings and others. This is driving the demand for specular reflective film in the specular reflective material market. Specular reflective film is easy to install and does not require much expertise. Specular reflective film also has a less index of refraction. Therefore, it can be used even by commercial users. This is majorly driving the demand for specular reflective film in the specular reflective material market.

Specular Reflective Material Market Segment Analysis – By End-Use Industry

Automotive industry held the largest share of 41% in the specular reflective material market in the year 2021. The increase in the production of cars and vehicles across the globe is one of the significant factors driving the specular reflective material market. For instance, according to the International Organization of Motor Vehicle Manufacturers, the global production of automobile stood at 21,084,417 units during January-March 2021, an increase of 16.9% from 18,036,164 units from January-March 2020. This is driving the need for automotive parts like rear view glass, interiors, seat coverings and others which is driving the demand for specular reflective material market in the automobile industry.

Specular Reflective Material Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of 45% in the specular reflective material market in the year 2021. The rapid growth of population in countries like India and China coupled with the countries’ high dependence on end use industries like building & construction and automotive industry is driving the demand for specular reflective material as it is used in various applications of these end use industries. In the long-term development plan for automotive industry, the Chinese government set a goal for 2020, to reach and annual sales of 2 million for their new energy vehicles (NEV).  Furthermore, the Indian auto-components industry was estimated to be valued at US$49.3 billion during the year 2020. The domestic automobile production in India increased at 6.96% during the year 2019 with a 30.9 million units production of automobile.  Additionally, according to International Trade Administration (ITA), South Korea doubled the number of automobile exports to 50,000 units per year to US from the year 2021 according to KORUS FTA. This will majorly drive the demand for specular reflective material market in the Asia Pacific region.

Specular Reflective Material Market Drivers          

The Increasing Production of Glass and Ceramic

The increase in production of glass & ceramic and related products is one of the significant factors driving the demand for specular reflective material market. For instance, according to Glass Alliance Europe, the glass production in Europe reached 37.2 million tonnes, an increase of 1.8% compared to the previous year 2018. Likewise in the US, according to the Bureau of Economic Analysis of US, the total value of glass and glass product manufacturing industry was valued at US$3.83 trillion in the year 2020, an increase of 0.26% from the previous year value The increase in production of glass and ceramics is driving the demand for specular reflective material market, as it is commonly used in producing dielectric mirror/products. 

Increasing Demand from Automotive Industry

The increase in production of the automotive industry is one of the significant contributors for the growth of the specular reflective material market. Specular reflective material is used in various application of the automotive industry, ranging from the glass panels, rear view mirrors and others. Therefore, the increase in the growth of automotive industry is further driving the demand for specular reflective material market. According to International Organization of Motor Vehicle Manufacturers (OICA), even though the automotive industry production declined by 13.77% in the year 2020 due to the global pandemic, the automobile industry is estimated to bounce back on track in the coming days. This will drive the demand for specular reflective material market during the forecast period. 

Specular Reflective Material Market Challenges

Strict regulations related to VOC emission

The production of specular reflective material releases volatile organic compounds in the environment which is highly dangerous for the life forms on earth. This is one of the major challenges faced by the specular reflective material market. There are various regulations related to VOC emission which is hindering the growth of the specular reflective material market. In most countries, the limit set for the content of such volatile organic compounds, like lead is 90 parts per million (ppm) total lead content, based on the weight of the total non-volatile content of the paint. Any amount beyond the specified limit will attract legal actions. This will further hamper the growth of the specular reflective material market.

Specular Reflective Material Market Industry Outlook

Acquisitions and mergers, production expansion, facility expansion collaborations, partnerships, investments, are some of the key strategies adopted by players in the Specular Reflective Material Market. Major players in the Specular Reflective Material Market are:

  1. 3M
  2. Zhejiang Gko
  3. Lambda
  4. Anometal
  5. Safe Reflections
  6. Coats Group plc
  7. Huawei
  8. Asian Paints Ltd.
  9. Avery Dennison
  10. Nippon Carbide Industries Co., Inc among others.

Acquisitions/Technology Launches

On 06 August 2020, Bemis Associates Inc., a leading manufacturer of thermoplastic films and tapes announced the acquisition of Safe Reflections International LLC. The acquisition will help the Bemis Associates Inc. to strengthen the product portfolio. 

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1. Specular Reflective Material Market- Market Overview
    1.1 Definitions and Scope
2. Specular Reflective Material Market - Executive Summary
    2.1 Key Trends by Product
    2.2 Key Trends by Form
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Specular Reflective Material Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Specular Reflective Material Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Specular Reflective Material Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Specular Reflective Material Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Specular Reflective Material Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Specular Reflective Material Market – By Product (Market Size -$Million/Billion)
    8.1 Polyurethane (PU)
    8.2 Polyvinyl Chloride (PVC)
    8.3 Thermoplastic Polyurethane (TPU)
    8.4 Others
9. Specular Reflective Material Market – By Form (Market Size -$Million/Billion)
    9.1 Film
    9.2 Fabric
    9.3 Tape
    9.4 Reflective Strips
    9.5 Others
10. Specular Reflective Material Market - By End-Use Industry (Market Size -$Million/Billion)
    10.1 Building & Construction
        10.1.1 Residential construction
            10.1.1.1 Independent home
            10.1.1.2 Row homes
            10.1.1.3 Large apartment buildings
        10.1.2 Commercial construction
            10.1.2.1 Hospitals and Healthcare Infrastructure
            10.1.2.2 Educational Institutes
            10.1.2.3 Hotels and Restaurants
            10.1.2.4 Banks and Financial Institutions
            10.1.2.5 Airports
            10.1.2.6 Hyper and Super Market
            10.1.2.7 Shopping Malls
            10.1.2.8 Others
        10.1.3 Industrial Construction
        10.1.4 Infrastructure
            10.1.4.1 Roads
            10.1.4.2 Bridges
            10.1.4.3 Military Construction
            10.1.4.4 Others
    10.2 Automotive
    10.3 Aerospace
    10.4 Others
11. Specular Reflective Material Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Specular Reflective Material Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Specular Reflective Material Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix- Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Specular Reflective Material Market – Key Company List by Country Premium Premium
15. Specular Reflective Material Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies" 

LIST OF TABLES

1.Global Global Specular Reflective Material Market, By Product Market 2019-2024 ($M)
1.1 Polyvinyl Chloride Market 2019-2024 ($M) - Global Industry Research
1.2 Polyurethane Market 2019-2024 ($M) - Global Industry Research
1.3 Thermoplastic Polyurethane Market 2019-2024 ($M) - Global Industry Research
2.Global Global Specular Reflective Material Market, By Product Market 2019-2024 (Volume/Units)
2.1 Polyvinyl Chloride Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Polyurethane Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Thermoplastic Polyurethane Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Global Specular Reflective Material Market, By Product Market 2019-2024 ($M)
3.1 Polyvinyl Chloride Market 2019-2024 ($M) - Regional Industry Research
3.2 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
3.3 Thermoplastic Polyurethane Market 2019-2024 ($M) - Regional Industry Research
4.South America Global Specular Reflective Material Market, By Product Market 2019-2024 ($M)
4.1 Polyvinyl Chloride Market 2019-2024 ($M) - Regional Industry Research
4.2 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
4.3 Thermoplastic Polyurethane Market 2019-2024 ($M) - Regional Industry Research
5.Europe Global Specular Reflective Material Market, By Product Market 2019-2024 ($M)
5.1 Polyvinyl Chloride Market 2019-2024 ($M) - Regional Industry Research
5.2 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
5.3 Thermoplastic Polyurethane Market 2019-2024 ($M) - Regional Industry Research
6.APAC Global Specular Reflective Material Market, By Product Market 2019-2024 ($M)
6.1 Polyvinyl Chloride Market 2019-2024 ($M) - Regional Industry Research
6.2 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
6.3 Thermoplastic Polyurethane Market 2019-2024 ($M) - Regional Industry Research
7.MENA Global Specular Reflective Material Market, By Product Market 2019-2024 ($M)
7.1 Polyvinyl Chloride Market 2019-2024 ($M) - Regional Industry Research
7.2 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
7.3 Thermoplastic Polyurethane Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Specular Reflective Material Market Revenue, 2019-2024 ($M)
2.Canada Specular Reflective Material Market Revenue, 2019-2024 ($M)
3.Mexico Specular Reflective Material Market Revenue, 2019-2024 ($M)
4.Brazil Specular Reflective Material Market Revenue, 2019-2024 ($M)
5.Argentina Specular Reflective Material Market Revenue, 2019-2024 ($M)
6.Peru Specular Reflective Material Market Revenue, 2019-2024 ($M)
7.Colombia Specular Reflective Material Market Revenue, 2019-2024 ($M)
8.Chile Specular Reflective Material Market Revenue, 2019-2024 ($M)
9.Rest of South America Specular Reflective Material Market Revenue, 2019-2024 ($M)
10.UK Specular Reflective Material Market Revenue, 2019-2024 ($M)
11.Germany Specular Reflective Material Market Revenue, 2019-2024 ($M)
12.France Specular Reflective Material Market Revenue, 2019-2024 ($M)
13.Italy Specular Reflective Material Market Revenue, 2019-2024 ($M)
14.Spain Specular Reflective Material Market Revenue, 2019-2024 ($M)
15.Rest of Europe Specular Reflective Material Market Revenue, 2019-2024 ($M)
16.China Specular Reflective Material Market Revenue, 2019-2024 ($M)
17.India Specular Reflective Material Market Revenue, 2019-2024 ($M)
18.Japan Specular Reflective Material Market Revenue, 2019-2024 ($M)
19.South Korea Specular Reflective Material Market Revenue, 2019-2024 ($M)
20.South Africa Specular Reflective Material Market Revenue, 2019-2024 ($M)
21.North America Specular Reflective Material By Application
22.South America Specular Reflective Material By Application
23.Europe Specular Reflective Material By Application
24.APAC Specular Reflective Material By Application
25.MENA Specular Reflective Material By Application
26.3M Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Anometal, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Huawei, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Zhejiang Gko, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Lambda, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Safe Reflection, Sales /Revenue, 2015-2018 ($Mn/$Bn)