Study Predicts Growth in Market for Anti-Graffiti Coatings
PUNE, India – Persistence Market Research has released a report that predicts steady growth in the anti-graffiti coatings market over the forecast period of 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 compound annual growth rate (CAGR) of over 4% through 2029.
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 $140 million. In the countries of Europe, such as Germany and the UK, the annual costs of graffiti cleaning are over $700 million and $1.5 billion respectively. This has resulted in high demand for cost-effective and long-lasting anti-graffiti coatings in the North American and European regions. As a result, the anti-graffiti coatings markets in North America and Europe are expected to grow at a lucrative CAGR of over 4.5% over the forecast period of 2019 to 2029.
The subject of graffiti remains a controversial topic as it is both a major form of vandalism and a source of self-expression. Over the past years, vandals have adopted graffiti art as a prominent source of expression 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.
In the report, the global anti-graffiti coatings market is 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 driven by the demand for durable and long-lasting coatings from consumers.
By end use, it is expected that a significant share of the consumption of anti-graffiti coatings will be from the commercial and institutional infrastructure. However, the growing applications of anti-graffiti coatings for the protection of automotive and transportation assets are expected to grow in the transportation end-use sector of the market.
For more information about the report, Global Market Study on Anti-Graffiti Coatings: Beyond Fundamental Protection, visit https://www.persistencemarketresearch.com/market-research/anti-graffiti-coatings-market.asp.