Global Cool Roof Coating Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Cool Roof Coating Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global cool roof coating market report has been segmented on the basis of material type, technology, application, and region.

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Global Cool Roof Coating Market: Overview

Cool roof coating is a combination of special or white reflective pigments used to minimize amount of solar radiation, and prevent damage to roof surface from various chemical and ultraviolet (UV) rays. Some cool roof coating types offer restorative features, reduce interior temperature, water protection, and extends life of roofing. Key material used for cool roof coating include elastomeric plastic, tiles, and metals.

Global Cool Roof Coating Market: Dynamics

Development of energy efficient roofs and increasing adoption of eco-friendly materials for roofing of commercial and residential infrastructures, is also expected to propel growth of the global cool roofs coating market during the forecast period. Favorable government initiatives and programs such as National Cooling Action Plan, Repeal and Replace of Green Roof, Toronto’s Eco-Roof Incentive Program and others carried out across the globe is likely to positively affect the demand for the target product. In addition, rising infrastructure development activities and renovation projects in developing countries is also anticipated to fuel growth of the target market. Increasing focus on R&D activities associated with cost reduction of air conditioning, inclination toward energy savings, and innovation in products in order to improve the aesthetics and long-lasting coating of buildings is anticipated to bolster demand for cool roof coating and drives growth of the target market. Recent trend shows that, several companies focusing on developing new technologies to enhance UV resistance of coatings and introduce microcells and nanotechnology for reducing heat flux, along with increasing energy conservation, can create a lucrative opportunity for growth of the global market.

However, high cost of cool roof coating techniques may hamper demand for cool roof coatings and restrain growth of the target market during the forecast period.

Global Cool Roof Coating Market: Segment Analysis

On the basis of material type, the target market is segmented into elastomeric plastic, tiles, and metals. The elastomeric plastic segment is expected to register significant growth rate in the target market over the forecast period.

By technology, the water-based coating segment contributes leading market share and is anticipated to dominate the global market throughout the forecast period.

On the basis of application, the target market is segmented into residential and non-Residential. Residential segment is expected to expand significantly in coming years.

Cool Roof Coating Market: Region Analysis

The Asia Pacific cool roof coating market is accounts for significant share in terms of revenue, and is expected to maintain its dominance over the forecast period owing to rising penetration of products in countries in the region. Moreover, increasing demand for green initiatives in order to reduce overall energy consumption and greenhouse emissions and increasing construction activities in emerging countries such as India, China, and Australia are some of the other factors anticipated to fuel growth of the cool roof coating market in the region.

North America cool roof coating market is estimated to grow at highest CAGR over the forecast period, owing to stringent regulations regarding cool roof by cool roof rating council in the region.

Governments in several countries in Europe are promoting construction of green buildings to reduce overall energy consumption, as well as greenhouse emissions by as much as 70-80%. Introduction of policies and incentives to encourage green construction is expected to boost growth of the target market in the region.

The market in Middle East & Africa accounts for moderate share in terms of revenue in the global market and is expected to witness considerable growth over the next 10 years. Countries such as Saudi Arabia and UAE focusing to promote ecofriendly construction of buildings.

Global Cool Roof Coating Market Segmentation:

Segmentation by Material Type:

Elastomeric Plastic
Tiles
Metals

Segmentation by Technology:

Water-based
Solvent-based

Segmentation by Application:

Residential
Non-Residential (Commercial and Healthcare)