In 2017, the global cool roof coatings market was USD 301.2 million and is expected to grow at the CAGR of 7.9% during the forecasted period 2019-2026.
Cool roof coatings technology is a system that improves the efficiency of the cool roof products with the incorporation of the new properties into the existing buildings or new built ones, preventing them from various external factors such as different climatic zones. These coating increase building endurance and save cost for building by minimizing the temperature by around 8 - 100 C. The cool roof coatings market is mainly driven by increasing demand from major sectors such as medical, automotive, industrial, and building & construction. Rapid development in the industrial sector in developing countries is expected to boost the demand for the cool roof coatings products ultimately driving the market. Increasing industrialization in building and manufacturing industries in developing nations will fuel the cool roof coatings market. Additionally, Rising awareness about reducing the energy consumption among the people will ensure further growth of the cool roof coatings market.
Interest for energy-saving building materials is high over the globe. These materials are utilized for redesigning business structures and new homes. Cool rooftop coatings give sheltered and improved structures and help with energy-saving costs. These rooftop coatings have high reception rate as they advance natural and monetary manageability. Cool metal rooftops help decrease yearly costs by 40%. Pre-painted or granular-covered metal material frameworks are favored for homes in hotter atmospheres, as these reflect sunlight based vitality and re-emanate the greater part of the assimilated sun based radiation. Cool rooftops additionally improve durability of rooftops, lower building cooling loads, and diminish the urban warmth island impact. Cool rooftop coatings exchange less warmth to the structure, in this manner keeping up the temperature of the structure and devouring less vitality for cooling. Cool rooftops keep up the air temperature inside a structure with or without air conditioning. The global Cool roof coatings market is segmented by roof slope, application, type, and region. By type, global cool roof coatings market is segmented into Water-based inks, solvent –based On the basis of roof slope, the global cool roof coatings market has been bifurcated into low-sloped and steep-sloped. Low-sloped is the dominant segment of the cool roof coatings market and is is expected to grow at a healthy rate during the forecast period owing to its advantages such as low initial installation cost and less build-up material than the steep-sloped process. On the basis of types, the market is bifurcated into elastomeric and IR reflective. Owing to the various advantages Elastomeric segment dominates the market. On the basis of application, the global cool roof coatings market has been segmented into residential, commercial, and industrial. In 2017, industrial segment holds the lion share in the global cool roof coatings market owing to increase in usage in warehouses, malls, and IT parks. Residential, and commercial are growing segmented owing to the increasing adoption of the products in this sector.
Geographically, the global cool roof coatings market is segmented into four regions: North America, Europe, Asia Pacific, and Latin America and Middle East & Africa
North America is expected to hold the major share during the forecast period due to the presence of high technologies, advanced industries, lack of time management to the infrastructure. Availability of huge funds and companies in this region has simultaneously increased the cool roof coatings market. U.S. dominates the North America cool roof coatings market owing to the huge demand in this region, high spending of the people and well developed infrastructure. Europe is expected to have a significant growth increasing consumption from various industrial as well as residential sectors. Well developed construction sector coupled will increasing demand from the various countries like Germany and France have supported the market growth. Asia Pacific is expected be the fastest growing region during the forecast period. The growth is majorly attributes due to the rapid urbanization especially in the developing countries such as China, India, and Indonesia. Continually improving in infrastructure and increasing spending of the people have boosted the growth of the market. LAMEA is expected to experience a considerable growth owing to the flourishing tourism based industries. Moreover, major players have invested in large scale construction project which thereby propel the growth of the cool roof coatings market in this region. Middle east holds the major share in LAMEA region due to well developed construction industry.
Some of the major players analyzed and profiles in this market include Nutech Paint, BASF SE, DowDuPont, Huntsman International LLC, Akzo Nobel N.V., Nippon Paint (M) SDN.BHD, Sika AG, PPG Industries Inc., GAF Materials Corporation, and The Valspar Corporation.
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