DUBLIN — According to a new report released by Research and Markets, the market for anti-graffiti coatings and films is estimated to have reached $72 million in 2018 and is projected to reach $87 million by 2023, growing at a compound annual growth rate of 3.8%.
The anti-graffiti coatings and films market is driven by the rising need for protection against graffiti or vandalism and growth in the construction and transportation industries. However, the high price of anti-graffiti coatings and films acts as the restraint for the market.
According to the study, the anti-graffiti coatings segment is projected to witness the highest growth rate during the forecast period. Anti-graffiti coatings are environmentally friendly and suitable for both porous and non-porous substrates. Additionally, they offer protection against graffiti vandalism for a longer duration. The rising demand for environment-friendly protective systems that provide long-term graffiti resistance is expected to make this type of coating widely used.
Anti-graffiti coatings and films are mainly used in two end-use industries: construction and transportation. Construction is the dominant end-use industry of anti-graffiti coatings and films. This dominance is due to the wide use of anti-graffiti coatings and films in the commercial and residential sector, as these coatings protect property from the damage caused by graffiti vandalism. These products are mostly used on infrastructure such as residential buildings, facades, windows, fences, offices, parking lots, subways, historic buildings and statues.
North America is estimated to be the fastest growing anti-graffiti coatings and films market over the forecast period, due to the rising demand for protective coatings that offer resistance to graffiti in the construction and transportation industries. The United States is projected to be the fastest growing market for anti-graffiti coatings and films in North America, followed by Canada. Europe is the second-fastest growing anti-graffiti coatings and films market. Growing governmental regulations regarding the use of environmentally friendly coatings and films in the construction industry is expected to provide growth opportunities for the anti-graffiti coatings and films market in the region.
For more information about the report, visit https://www.researchandmarkets.com/publication/m6kep2g/4757871.