Global Cool Roof Coating Market: Overview
“The global Cool roof coating Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Cool roof coating is a combination of special or white reflective pigments used to minimize amount of solar radiation, and prevent damage to roof surface from various chemical and ultraviolet (UV) rays. Some cool roof coating types offer restorative features, reduce interior temperature, water protection, and extends life of roofing. Key material used for cool roof coating include elastomeric plastic, tiles, and metals.
Global Cool Roof Coating Market: Dynamics
The development of energy-efficient roofs and increasing adoption of eco-friendly materials for the roofing of commercial and residential infrastructures are also expected to propel the growth of the global cool roof coating market during the forecast period. Favorable government initiatives and programs such as the National Cooling Action Plan, Repeal and Replace of Green Roof, Toronto’s Eco-Roof Incentive Program, and others carried out across the globe are likely to positively affect the demand for the target product.
In addition, rising infrastructure development activities and renovation projects in developing countries is also anticipated to fuel growth of the target market. Increasing focus on R&D activities associated with cost reduction of air conditioning, inclination toward energy savings, and innovation in products in order to improve the aesthetics and long-lasting coating of buildings is anticipated to bolster demand for cool roof coating and drives growth of the target market.
Recent trend shows that, several companies focusing on developing new technologies to enhance UV resistance of coatings and introduce microcells and nanotechnology for reducing heat flux, along with increasing energy conservation, can create a lucrative opportunity for growth of the global market.
However, high cost of cool roof coating techniques may hamper demand for cool roof coatings and restrain growth of the target market during the forecast period.
Global Cool Roof Coating Market: Segment Analysis
On the basis of material type, the target market is segmented into elastomeric plastic, tiles, and metals. The elastomeric plastic segment is expected to register significant growth rate in the target market over the forecast period.
By technology, the water-based coating segment contributes leading market share and is anticipated to dominate the global market throughout the forecast period.
On the basis of application, the target market is segmented into residential and non-Residential. Residential segment is expected to expand significantly in coming years.
Cool Roof Coating Market: Region Analysis
The Asia Pacific cool roof coating market is accounts for significant share in terms of revenue, and is expected to maintain its dominance over the forecast period owing to rising penetration of products in countries in the region.
Moreover, increasing demand for green initiatives in order to reduce overall energy consumption and greenhouse emissions and increasing construction activities in emerging countries such as India, China, and Australia are some of the other factors anticipated to fuel growth of the cool roof coating market in the region.
North America cool roof coating market is estimated to grow at highest CAGR over the forecast period, owing to stringent regulations regarding cool roof by cool roof rating council in the region.
Governments in several countries in Europe are promoting construction of green buildings to reduce overall energy consumption, as well as greenhouse emissions by as much as 70-80%. Introduction of policies and incentives to encourage green construction is expected to boost growth of the target market in the region.
The market in Middle East & Africa accounts for moderate share in terms of revenue in the global market and is expected to witness considerable growth over the next 10 years. Countries such as Saudi Arabia and UAE focusing to promote ecofriendly construction of buildings.
Global Cool Roof Coating Market Segmentation:
Segmentation by Material Type:
- Elastomeric Plastic
Segmentation by Technology:
Segmentation by Application:
- Non-Residential (Commercial and Healthcare)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Sherwin Williams
- Valspar Corporation
- Nippon Paints
- Monarch Industries
- GAF Materials
- Nutech Paints
- Excel Coatings
- PPG Industries Inc.
- Sika AG
- Akzo Nobel
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