The market for anti-graffiti coatings is expected to witness a CAGR of over 3.5% during the forecast period. Some of the major factors driving the market studied is the elimination of re-painting costs and devaluation of property. However, strict regulations on the fossil fuels used in coatings are likely to restrain the market.
- The introduction of Bio-based technology coatings is likely to act as an opportunity for market growth in the future.
- North America accounted for the highest market share, followed by Europe. North America is likely to dominate the market during the forecast period.
Key Market Trends
Construction Industry to Witness the Highest Growth Rate
- In the construction industry, anti-graffiti coatings are applied on various substrates including concrete, masonry, wood, metal, etc.
- According to the Bureau of Justice, the most common form of vandalism is graffiti. The cleanup process of these undesirable arts burden businesses and property owners, and also account for a considerable portion of municipal budgets across the world.
- On average, American cities spend about USD 12 billion on the cleanup of graffiti art each year. Some of the major targets for graffiti in construction structures include business buildings, historical monuments, schools, public stations, shopping malls, government buildings, etc.
- Several major cities in the North American and European regions are experiencing an increase in graffiti, where most of it exhibits hatred for police, administrations, etc. Application of anti-graffiti coatings is one of the effective steps in avoiding graffiti on structures and other properties.
- Owing to the increase in the graffiti incidents, especially in the North American and European regions, the construction industry segment is likely to witness the highest growth rate during the forecast period.
North America to Dominate the Market
- North America represented the largest regional market for the anti-graffiti coatings market.
- This immense demand for anti-graffiti coatings is a consequence of the growing cases of graffiti and expenditure on the removal of graffiti in the region.
- In the North American region, the United States provides the major market for anti-graffiti coatings.
- The ongoing developments in nanotechnology and bio-based technology in this region are also expected to drive the market for anti-graffiti coatings.
- Hence, owing to the aforementioned factors, North America is likely to dominate the anti-graffiti coatings market during the forecast period.
The market for anti-graffiti coatings is partially consolidated as the major share of the market is distributed among a few key players. Some of the major manufacturers in the market include The Sherwin-Williams Company, 3M, BASF SE, Akzo Nobel NV, Axalta Coating Systems, LLC, etc.
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