DALLAS, April 28, 2015 /PRNewswire/ --
The report "Roof Coating Market by Type (Elastomeric, Bituminous, Tiles, Metals), Technology (Water Based, Solvent Based), Roof Type (Low Sloped, Steep Sloped), Equipment (Airless Sprayers, Brushes & Rollers) Application (Residential, Non-Residential) & Geography - Global Forecast to 2020", published by MarketsandMarkets, The global Roof Coating Market is projected to reach $1,310.74 Million by 2020, with a CAGR of 5.79% from 2015 to 2020.
Browse 104 market data Tables and 61 Figures spread through 169 Pages and in-depth TOC on "Roof Coating Market"
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The market is segmented and revenues are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). The key countries are covered and their market sizes forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of applications.
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The Roof Coating Market is buyer-oriented. It has shown substantial growth due to the resurgence of the construction industry after the economic slowdown from 2007 to 2009. The Roof Coating Market is mostly driven by the emergence of cool roof technology, which has benefits such as power saving by keeping the roof temperature down. In order to achieve sustainability, green roofing technology is the latest innovation in the global Roof Coating Market. Major players in the market are developing new techniques to achieve sustainability.
The market for the global roof coating industry has seen an upward surge since 2009. The global Roof Coating Market is projected to reach $1,310.74 million by 2020, with a CAGR of 5.79% from 2015 to 2020. This is because, after the economic slowdown, new constructions have come up in large numbers. The North American region accounted for around 50% of the total market share in terms of value, followed by the European and Asia-Pacific regions. However, as the roof coating market in developed countries is getting matured, the market in developing countries such as China and India are estimated to grow at a higher rate from 2015 to 2020. China is estimated to grow faster than any other country. This is because of the high population in the country along with new constructions coming up in the next five years.
The Roof Coating Market has been growing in accordance with the construction industry. With increasing awareness about global warming and concerns about the environment, people are opting for eco-friendly techniques of coating roofs, which has had an impact on the market for roof coating products.
Increasing disposable incomes of people in developing countries, regulations to incorporate cool roofing, and changing preferences of people towards sustainable building techniques drive the growth of the Roof Coating Market. Lack of awareness about roof coating is the biggest challenge faced by players in the market.
The global Roof Coating Market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market. The key players in the market are AkzoNobel NV (The Netherlands), PPG Industries, Inc. (U.S.), Sherwin-Williams (U.S.), Valspar Corporation (U.S.), BASF SE (Germany), Nippon Paint Co. Ltd (Japan), RPM International Inc. (U.S.), The Dow Chemical Company (U.S.), and Hempel A/S (Denmark).
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