Cool Roof Coatings Market Report 2020-2030
Cool Roof Coatings Market Report 2020-2030: A Global Coal Roof Coatings Market Estimate and Forecast – Industry Insights for Consumption, Demand, Production, Price Trend, Competitive Intelligence and Opportunity Analysis Along the Value Chain
The global cool roof coatings market was valued at $3.4 billion in 2018. Cool roof are the one that are specifically developed to replicate more sunlight and further absorb less heat as compared to that of traditional roof. Moreover, increasing adoption of cool roof coatings in both residential as well as commercial sector is attributing towards increasing demand for global cool roof coatings market.
Cool roofs comprises of exceedingly reflective type of sheet covering, paint and tiles that enables roofs to stay cooler and thereby help the users to save ample amount of money spent on air conditioning and thus save energy. These coatings consists of special reflective pigments or white coatings that reflects sunlight and are like thick paints that helps in protecting surface of the roofs from chemical damages, water protection and ultra-violet radiations. These properties of cool roof coatings are thus creating ample opportunities for global cool roof coatings market to grow significantly.
Reducing significant energy consumption is the key factor driving the growth of global cool roof coatings market. Increasing awareness amongst the consumers pertaining to adopting environment friendly and energy efficient alternatives to reduce energy demand is thus propelling the demand for cool roof coatings in both residential as well as commercial sectors. Cool roof coatings are becoming extensively popular since it helps in developing more energy efficient homes as cool roof do not absorb large amount of heat from the sun and thus making buildings cooler.
Moreover, cool roof coatings are extensively being utilised by the users to refine non-climatic controlled areas of a residential property such as garage and bounded entrance. However, various drawbacks associated with cool roof coatings are key factors hampering the growth of global cool roof coatings market.
Cool roof coatings market forecast 2020 – 2030 estimates the historical market size in terms of consumption as well as revenue generated by the industry players across the globe. It offers the opportunity analysis along the value chain for the cool roof coatings manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. Commercial, residential, and industrial industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.
The reports provide the analysis based on product, application, and end user segment. On the basis of application, the global cool roof coatings market is segmented into low sloped and steep sloped. Among these two segments, low sloped roofs are expected to witness higher CAGR during the forecast period. Low sloped roof are generally founded in industrial and commercial buildings. Additionally, cool roof coatings in low sloped buildings are helping to reduce local air temperatures also known as urban heat island outcome and also helps in preventing power outrages with lower demand for electricity.
Based upon product, the global cool roof coatings market is categorised into IR reflective and elastomeric. Among these two segments, IR reflective is anticipated to witness faster growth during the forecast period. IR reflective coatings are exceedingly being used for keeping the objects or the buildings cooler as compared to that of by utilizing standard pigments. This technique is also witnessing increasing acceptance from transportation sector and other areas wherein the ability to maintain objects cooler is considered to be a valuable option.
On the basis of end user, the global cool roof coatings market is classified into commercial, residential, and industrial. Among these segments, commercial sector is anticipated to witness highest CAGR during the forecast period. Regulatory bodies are continuously regulating the need for promoting exterior insulations in commercial buildings. In order to reduce carbon foot prints of buildings and thereby developing environment friendly surroundings along with expanding awareness pertaining to energy consumption and efficient utilization of energy is thus propelling ample opportunities for the growth of global cool roof coatings market.
Cool roof coatings market in North America is anticipated to contribute largest market revenue throughout the estimated period owing to increasing awareness among consumers relating to developing energy consumption buildings and imposition of maintaining code and conduct in construction domain is thus driving the growth cool roof coatings market in this region.
Cool roof coatings market in Asia-Pacific is expected to witness fastest growth during the forecast period due to increasing expenditure towards construction activities and excessive adoption of green buildings code. Utilization of cool roof coatings enables efficient moisture control, cost and energy efficiencies along with environment and climate control. Cool roofs significantly helps in enhancing the comfort of occupant and eliminates the need for using air conditioners which will further help in reducing negative effects of hydro-chlorofluorocarbons and chlorofluorocarbons that are part of greenhouse gases and leads to depletion ozone layer.
The report also offers the insights for the European, Latin American, and Middle East and African Market. A detail analysis of historic and forecast consumption data, revenue in the market and competitive analysis for major competitors in each region is also provided.
The eminent key players in the global cool roof coatings market are investing in launching new technologies to strengthen their market presence and thereby improving supply chain capability. Some of the players having prominent presence in the global cool roof coatings market include GAF, Wacker Chemie AG, Akzo Nobel N.V., The Valspar Corporation, Excel Coatings, Indian Insulation & Engineering, Nutech Paint, Nippon Paint SDN, The Dow Chemical Company (DowDuPont), Sika AG, Hempel A/S, Huntsman Corporation, PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, Monarch Industrial Products Pvt. Ltd. and KST Coatings.
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