Manufacturers Likely to Witness Steady Growth in the U.S. 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.
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.