Low-slope Roof Type to Consume More Than 50% of the Cool Roof Coating Market
- Silicon based Cool Roof Coating to Capture Major Demand Pie
- In its latest study, Fact.MR provides the supply chain and industry life cycle analysis of the global cool roof coating market from the period of 2022 to 2032. Besides, it also highlights various growth opportunities associated with the leading segments in terms of roof type, material type, technology and application across six major regions.
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- The global cool roof coatings market is expected to increase at a CAGR of 6.8% between 2022 and 2032, from USD 4.5 billion in 2022 to USD 8.3 billion in 2032. As of 2021, cool roof coatings accounted for around 3% of the overall paints and coatings industry.
The cool roof coatings market is expected to rise as more developed and developing countries throughout the world adopt green building rules. Governments are increasingly supporting green building enterprises in response to rising concerns about energy use and carbon emissions. Over the projection period, the affirmation factor is expected to expand the market for cool roof coatings.
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By controlling temperature variations inside the building, the cool roof coating lowers cooling energy costs and improves comfort. The Cool Roof Rating Council (CRCC) estimates average energy savings from cool roof coatings to be in the range of 7% to 15%, though this varies depending on geography and temperature.
With rising concerns about energy efficiency and pollution reduction, the market for cool roof coatings is expected to develop at a stable CAGR of around 7.4% over the next ten years.
The demand for waterproofing membranes is increasing globally as existing infrastructure gets renovated in both developed and developing countries. With the increased use of waterproofing membranes, the need for roof coatings, particularly cool roof coatings, is steadily increasing.
The effect of "urban heat island" is increasing worse against the backdrop of dark coloured structures and streets, as well as a shortage of air conditioning and green space, as housing and commercial development activities continue to increase.
This has helped to supplement energy demand and related expenses in both business and residential structures.
NYC Cool Roofs, Toronto's Eco-Roof Incentive Program, Denver's Repeal and Replace of Green Roof Law, and India's national government's initiative on sustainable cooling through the National Cooling Action Plan are just a few of the key examples of cool roof program currently being implemented around the world.
Key Takeaways:
- Demand for cool roof coatings in residential applications will accelerate at a CAGR of 8.0% by 2032.
- Leading 5 providers of cool roof coatings hold nearly 38% of the cool roof coatings market share during 2021.
- Silicon based cool roof coating type anticipated to gain significant share
- Low-slope roof type consume nearly 59% of the global market
Growth Drivers:
- Growth in adoption of green building codes by developed and developing countries to spur the demand of cool roof coatings.
- Rising concerns about energy savings and reduction in air pollution to propel the cool roof coatings market growth.
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Competitive Landscape
The cool roof coating market revenues will continue to be concentrated among Tier 2 players, who presently account for more than half of all cool roof coating sales worldwide.
Tier 1 cool roof coating manufacturers will account for roughly 38% of the market in 2021, because to their strong distribution channels and financial strength.
Key Players in the Cool Roof Coating Market Include:
- Sherwin Williams
- Valspar Corporation
- Nippon Paints
- Monarch Industries
- GAF Materials
- DowDupont
- Nutech Paints
- Excel Coatings
- PPG Industries Inc.
More Valuable Insights on Cool Roof Coating Market
Fact.MR provides an unbiased analysis of the cool roof coating market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global cool roof coating market with a detailed segmentation on the basis of:
- By Roof Type
- Low-slope type
- Steep-slope type
- By Material Type
- Elastomeric Plastic
- Silicon
- Tiles
- Metals
- By Technology
- Water-based
- Solvent-based
- By Application
- Residential
- Commercial
- Hospitality
- Healthcare
Key Questions Covered in on Cool Roof Coating Market Report
- The report offers insight into the cool roof coating market demand outlook for 2022-2032.
- The market study also highlights projected sales growth for cool roof coating market between 2022 and 2032.
- Cool roof coating market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Cool roof coating market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
Explore Fact.MR's Coverage on the Chemical & Materials Domain –
Liquid-applied Roof Coating Market Scope - The increased need for cool roofing systems to manage the temperature of the building is a major driving force for the growth of the liquid-applied roof coating market. Liquid-applied roof coating is a low-cost option that offers good performance, safety, and ease of application.
Coating Additives Market Analysis - Coating additives are becoming more and more essential to meet zero-VOC emission standards. Governments all around the world are upping the ante in their efforts to minimize carbon emissions from construction. This has resulted in a significant and rapid shift, which is boosting the market for coating additives.
Architectural Coatings Market Forecast - The building sector is responding to the increase in people migrating to metropolitan areas by developing cheap housing and infrastructure. As a result, demand for diverse equipment and architectural coatings materials is increasing. The need for exterior architectural coatings to protect a structure from moisture, UV rays, and bacteria is growing.
Glass Coatings Market Insights - Due to increased demand for glass coatings from various industries such as automotive, aerospace, marine, aviation, building and construction, the worldwide glass coatings market is expected to develop significantly over the forecast period.
About Fact.MR
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