Persistence Market Research’s new study on the anti-graffiti coatings market offers critical insights for the period 2019 to 2029. According to the insights from the report, the anti-graffiti coatings market is expected to witness steady growth over the forecast period 2019 to 2029 owing to the rising awareness regarding special-purpose coatings in developed countries. The market is expected to witness significant growth with a CAGR of over 4% through 2029.
Manufacturers Likely to Witness Steady Growth in the US and Europe
The emergence of anti-graffiti coatings as a promising solution for undesired graffiti art over the walls of residential, institutional, and commercial buildings has resulted in a drastic increase in the sales in developed regions such as North America and Europe. The total costs of investments in graffiti cleaning and removal in these regions has grown significantly over the past couple of years. For instance, annual graffiti cleaning costs in Los Angeles are around US$ 140 Mn. In the countries of Europe, such as Germany and the UK, the annual costs of graffiti cleaning are over US$ 700 Mn and US$ 1.5 Bn respectively. This has resulted in high demand for cost-effective and long-lasting anti-graffiti coatings in the North America and Europe regions.
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As a result, the North America and Europe anti-graffiti coatings markets are expected to grow at lucrative CAGR of over 4.5% over the forecast period 2019 to 2029.
Increasing Number of Actions against the Acts of Vandalism to Drive the Growth of the Global Anti-Graffiti Coatings Market
The subject of graffiti still remains as a controversial topic as it is also a major form of vandalism besides being a source of statement and self-expression. Over the past years, graffiti art has been adopted as a prominent source of expression by vandals across various geographies. Consequently, the demand for anti-graffiti coatings has increased, and this is expected to drive the growth of the global anti-graffiti coatings market.
The global anti-graffiti coatings market has been segmented on the basis of material used for the production of anti-graffiti coatings, their different types on the basis of durability and end-uses, as well as seven prominent regions of the world.
- By material, the global anti-graffiti coatings market is expected to witness prominent sales from segments such as silicone and polyurethane.
- By type, the global anti-graffiti coatings market is expected to witness lucrative growth from the permanent type of anti-graffiti coatings. This is majorly driven by the demand for durable and long-lasting coatings from consumers.
- By end use, it is expected that the significant consumption of anti-graffiti coatings would be from the commercial and institutional infrastructure. However, the growing applications of anti-graffiti coatings for the protection of automotive and transportation assets is expected to project a lucrative growth to the transportation end-use sector of the anti-graffiti coatings market.
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Anti-Graffiti Coatings Market: Vendor Insights
The global anti-graffiti coatings market report highlights the strategies of anti-graffiti coatings manufacturers that have established themselves as the leading players. Examples of such payers include Evonik Industries AG, The Sherwin-Williams Company, IFS Coatings, Inc., Axalta Coating Systems, Avery Dennison Corporation, AkzoNobel NV, RPM International Inc., A&I Coatings, and Sika AG, among others. Some of the major developments undertaken by the abovementioned players are mergers and acquisitions, which are driving the global anti-graffiti coatings market toward consolidation. Some of the players that hold prominent shares of the market are categorized as the Tier I players of the market, while rest are categorized as Tier II, Tier III, and other local plyers. Furthermore, the focus of anti-graffiti coatings market players toward research and product launches are leading to product diversification along with their evolution toward technological advancements.