The reduction in energy consumptions and favourable regulations are driving the need for the market.
Market Size – USD 4.01 Billion in 2019, Market Growth – CAGR of 7.4%, Market Trends – Rising demand for green buildings.
The global Cool Roof Coatings Market is forecast to reach USD 6.84 Billion by 2027, according to a new report by Reports and Data. Rising developments in both the residential and manufacturing sectors are projected to affect demand positively. Cold roof coatings minimize the building heat accumulation, increasing its efficiency and reducing the total maintenance expense. In the near future, the growing need for energy efficiency, along with the adoption of green building codes, by numerous governments would embellish the growth of the demand. Also, growing environmental destruction as a result of greenhouse gases in the stratosphere and the need to improve the energy efficiency led to an increase in the consumer’s tilt towards the Cool roof market.
Cool roof coatings have various benefits, such as cost-effective and high solar reflectivity, which effectively minimizes heat accumulation in industrial and residential spaces and decreases reliance on air conditioning, thus saving electricity and reducing air emissions. Increasing market preference towards carbon efficiency and attractive tax incentives policy programs promotes the use of green construction materials and is expected to fuel demand in the years ahead.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Cool Roof Coatings Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
The commercial segment is expected to grow over the forecast period at a CAGR of 7.7%, in terms of sales. Increasing investment in convenience stores, shopping centers, supermarkets, schCools, hospitals, and other related ventures is projected to fuel demand.
IR Reflective coatings have emerged as the fastest-growing product category, and a CAGR of 7.2% is projected to increase over the estimated period in terms of sales. The growing increase in energy costs in residential and commercial buildings is anticipated to augment the segment growth. Such types of coatings possess remarkable heat-reflective abilities filtering dangerous ultraviolet radiation and UV radiation out into the atmosphere and thereby minimizing heat generation inside the structure.
Due to rising demand from residential and non-residential building projects, such as hospitals, schools, and universities, North America dominated the global industry in 2019. The growing population is projected to improve further the development of office spaces, manufacturing plants, hospitals, and universities, thus increasing the construction industry market.
The Asia Pacific driven by China, India, and Japan’s production may record improvements in revenue with a CAGR of 7.5% by 2027. Rapid industrialization, combined with rising urbanization and increasing customer purchasing potential in the region, is projected to fuel demand for consumer products, which is expected to raise the market over the forecast period.
Key participants include Sika AG, Nutech Paint, The Valspar Corporation, Dow Inc., Excel Coatings, GAF, KST Coatings, Indian Insulation & Engineering, PPG Industries, Inc., and Huntsman International LLC, among others
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For the purpose of this study, the global Cool Roof Coatings market has been segmented on the basis of disease type, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-use Outlook (Revenue, USD Billion; 2017-2027)
By Region (Revenue, USD Million; 2017-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table Of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Cool Roof Coating Market Segmentation & Impact Analysis
4.1. Cool Roof Coating Market Product Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Reduction in energy consumption
18.104.22.168. Favorable regulations
4.2.3. Market restraints analysis
22.214.171.124. Limitations of Cooling coating
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Cool Roof Coating Market by Product Insights & Trends
5.1. Product Dynamics & Market Share, 2019 & 2027
5.2.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
5.2.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
5.3. IR Reflective
5.3.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
5.3.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
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