Sign Market

The global sign market is experiencing shrinking demand, with a forecasted downward consumption trend. The market volume is expected to decrease to 1.3M tons by 2030. Metal advertising signs dominate both imports and exports, accounting for the majority of the market share. Key players in the market include the United States, China, and Germany. Despite challenges, the market is expected to continue growing in the immediate future.

Market Forecast

Depressed by shrinking demand for sign worldwide, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -0.9% for the period from 2022 to 2030, which is projected to depress the market volume to 1.3M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -0.8% for the period from 2022 to 2030, which is projected to bring the market value to $24.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sign

In 2022, consumption of sign decreased by -1.2% to 1.4M tons, falling for the sixth consecutive year after two years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the consumption volume increased by 3.9% against the previous year. As a result, consumption reached the peak volume of 1.5M tons. From 2017 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global sign market value fell slightly to $26.7B in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $27B. From 2016 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2017 were the United States (424K tons), China (334K tons) and India (136K tons), together accounting for 61% of global consumption.

From 2012 to 2017, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the United States (with a CAGR of +3.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($11.1B) led the market, alone. The second position in the ranking was held by China ($3.7B). It was followed by Japan.

In the United States, the sign market increased at an average annual rate of +3.2% over the period from 2012-2017. In the other countries, the average annual rates were as follows: China (+1.6% per year) and Japan (-5.7% per year).

The countries with the highest levels of sign per capita consumption in 2017 were the United States (1,308 kg per 1000 persons), Canada (734 kg per 1000 persons) and Japan (518 kg per 1000 persons).

From 2012 to 2017, the biggest increases were recorded for the United States (with a CAGR of +3.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sign

After two years of growth, production of sign decreased by -0.4% to 1.5M tons in 2017. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 3.9%. As a result, production reached the peak volume of 1.5M tons, leveling off in the following year.

In value terms, sign production fell modestly to $28.2B in 2017 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 2% against the previous year. Global production peaked at $28.6B in 2012; however, from 2013 to 2017, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2017 were the United States (413K tons), China (374K tons) and India (136K tons), with a combined 63% share of global production. Japan, Brazil, Mexico, Turkey, Germany, the UK, Canada and France lagged somewhat behind, together comprising a further 20%.

From 2012 to 2017, the biggest increases were recorded for Canada (with a CAGR of +3.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Sign

In 2017, after three years of growth, there was decline in purchases abroad of sign, when their volume decreased by -1% to 119K tons. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 4.3% against the previous year. As a result, imports reached the peak of 120K tons, leveling off in the following year.

In value terms, sign imports stood at $1.9B in 2017. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 7.2%. Global imports peaked in 2017 and are expected to retain growth in the immediate term.

Imports By Country

In 2017, the United States (16K tons), distantly followed by Germany (6.7K tons), the UK (6.4K tons) and China (6.3K tons) were the major importers of sign, together achieving 30% of total imports. Australia (3.9K tons), France (3.8K tons), Italy (3.6K tons), Spain (3.1K tons), Hong Kong SAR (3.1K tons), Mexico (2.9K tons), Canada (2.9K tons), Indonesia (2.6K tons) and South Korea (2.4K tons) took a relatively small share of total imports.

From 2012 to 2017, average annual rates of growth with regard to sign imports into the United States stood at +7.6%. At the same time, Indonesia (+28.2%), the UK (+17.5%), South Korea (+15.0%), Italy (+5.7%), Australia (+4.1%) and Hong Kong SAR (+1.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +28.2% from 2012-2017. Canada, Spain and China experienced a relatively flat trend pattern. By contrast, Germany (-1.0%), France (-10.0%) and Mexico (-24.3%) illustrated a downward trend over the same period. From 2012 to 2017, the share of the United States, the UK and Indonesia increased by +4.1, +3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($300M) constitutes the largest market for imported sign worldwide, comprising 16% of global imports. The second position in the ranking was held by Germany ($124M), with a 6.6% share of global imports. It was followed by France, with a 4.5% share.

From 2012 to 2017, the average annual rate of growth in terms of value in the United States stood at +4.9%. In the other countries, the average annual rates were as follows: Germany (+4.8% per year) and France (+0.4% per year).

Imports By Type

In 2022, metal advertising signs (50K tons) was the largest type of sign, generating 79% of total imports. It was distantly followed by illuminated signs and illuminated name-plates (13K tons), generating a 21% share of total imports.

Metal advertising signs experienced a relatively flat trend pattern with regard to volume of imports. illuminated signs and illuminated name-plates (-13.9%) illustrated a downward trend over the same period. Metal advertising signs (+34 p.p.) significantly strengthened its position in terms of the global imports, while illuminated signs and illuminated name-plates saw its share reduced by -34.5% from 2012 to 2022, respectively.

In value terms, metal advertising signs ($909M) constitutes the largest type of sign imported worldwide, comprising 83% of global imports. The second position in the ranking was held by illuminated signs and illuminated name-plates ($188M), with a 17% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of metal advertising signs imports amounted to +1.8%.

Import Prices By Type

The average sign import price stood at less than $0.1 per ton in 2022, leveling off at the previous year. Over the period under review, the import price enjoyed noticeable growth. The growth pace was the most rapid in 2013 when the average import price increased by 8.8%. Over the period under review, average import prices hit record highs at $15,910 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was metal advertising signs ($18,267 per ton), while the price for illuminated signs and illuminated name-plates totaled $14,509 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by metal advertising sign (+1.3%).

Import Prices By Country

The average sign import price stood at $15,910 per ton in 2017, rising by 1.7% against the previous year. Over the last five years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 8.8% against the previous year. Over the period under review, average import prices reached the maximum in 2017 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2017, amid the top importers, the country with the highest price was Canada ($24,757 per ton), while Indonesia ($7,716 per ton) was amongst the lowest.

From 2012 to 2017, the most notable rate of growth in terms of prices was attained by Mexico (+26.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sign

In 2017, overseas shipments of sign increased by 7.8% to 129K tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sign exports totaled $2B in 2017. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

China represented the key exporter of sign in the world, with the volume of exports resulting at 47K tons, which was approx. 36% of total exports in 2017. Germany (13K tons) ranks second in terms of the total exports with a 10% share, followed by Malaysia (4.9%). The following exporters - Poland (5.6K tons), the United States (4.3K tons), Italy (4.1K tons), Turkey (3.9K tons), Spain (3.7K tons), France (3.1K tons), Canada (2.7K tons), Belgium (2.6K tons), the Netherlands (2.3K tons) and Hungary (2.2K tons) - together made up 27% of total exports.

From 2012 to 2017, average annual rates of growth with regard to sign exports from China stood at -1.3%. At the same time, Poland (+14.7%), Italy (+13.5%), Malaysia (+13.3%), Canada (+9.7%), Hungary (+6.5%), Belgium (+3.0%), Spain (+2.5%) and the Netherlands (+1.3%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.7% from 2012-2017. By contrast, Germany (-2.4%), the United States (-2.7%), France (-2.9%) and Turkey (-3.1%) illustrated a downward trend over the same period. From 2012 to 2017, the share of Malaysia and Poland increased by +2.2 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($516M), Germany ($306M) and the United States ($127M) were the countries with the highest levels of exports in 2017, with a combined 46% share of global exports. Poland, France, Italy, the Netherlands, Canada, Spain, Malaysia, Turkey, Belgium and Hungary lagged somewhat behind, together accounting for a further 24%.

Poland, with a CAGR of +12.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Metal advertising signs dominates exports structure, accounting for 47K tons, which was approx. 93% of total exports in 2022. It was distantly followed by illuminated signs and illuminated name-plates (3.5K tons), making up a 7% share of total exports.

Metal advertising signs experienced a relatively flat trend pattern with regard to volume of exports. illuminated signs and illuminated name-plates (-26.8%) illustrated a downward trend over the same period. Metal advertising signs (+58 p.p.) significantly strengthened its position in terms of the global exports, while illuminated signs and illuminated name-plates saw its share reduced by -57.9% from 2012 to 2022, respectively.

In value terms, metal advertising signs ($1B) emerged as the largest type of sign supplied worldwide, comprising 96% of global exports. The second position in the ranking was held by illuminated signs and illuminated name-plates ($46M), with a 4.3% share of global exports.

For metal advertising signs, exports increased at an average annual rate of +3.4% over the period from 2012-2022.

Export Prices By Type

The average sign export price stood at less than $0.1 per ton in 2022, approximately reflecting the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 6.2% against the previous year. As a result, the export price reached the peak level of $17,155 per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was metal advertising signs ($22,262 per ton), while the average price for exports of illuminated signs and illuminated name-plates totaled $13,060 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by metal advertising sign (+2.7%).

Export Prices By Country

In 2017, the average sign export price amounted to $15,892 per ton, stabilizing at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 6.2% against the previous year. As a result, the export price reached the peak level of $17,155 per ton. From 2015 to 2017, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2017, amid the top suppliers, the country with the highest price was the United States ($29,392 per ton), while Malaysia ($7,647 per ton) was amongst the lowest.

From 2012 to 2017, the most notable rate of growth in terms of prices was attained by Germany (+6.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform