Rising adoption of green building codes by different governments coupled with the need for energy saving to drive the growth of global cool roof coatings market through 2024.
According to TechSci Research report, “Global Cool Roof Coatings Market By Material Type, By Product, By Application, By End-Use, By Region, Competition Forecast & Opportunities, 2024”, the global cool roof coatings market is expected to grow at a CAGR of around 7% during the forecast period on account of their increasing adoption in construction industry and increasing popularity among consumers. Moreover, adoption of the green building codes and focus on energy savings across different countries is further fueling growth of global cool roof coatings market. However, high cost of cool roof coatings is likely to hamper the growth of the market during forecast period.
Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on “Global Cool Roof Coatings Market“
The global cool roof coatings market is segmented based on material type, product, application, end-use, region and company. Based on product, the market can be bifurcated into Elastomeric and IR Reflective, of which the former dominates the market attributable to its various advantages such as extending the life of existing roofs, maintaining flexibility of roofs at low and high temperatures, protecting the roof from sun and other climatic conditions. Based on application, the market can be categorized into low-sloped roofs and steep-sloped roofs. The low-sloped roofs segment leads the market owing to the low costs of installation and lesser construction costs. Based on end use, the market can be categorized into commercial, residential and industrial. Of all, the industry segment dominates the market on the back of surging use of warehouses and IT Parks.
The Valspar Corporation, Monarch Industrial Products (I) Pvt. Ltd., PPG Industries Inc., Nippon Paint (M) Sdn. Bhd., Huntsman International LLC, KST Coatings, E. I. du Pont de Nemours and Company, GAF Materials Corporation, Excel Vinyl Coatings Private Limited, Sika AG and others are some of the leading players operating in global cool roof coatings market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is projected to register the highest CAGR during the forecast period owing to increase in acceptance of the green building codes. Moreover, increasing construction spending coupled with implementation of green building codes in countries like India, China, Australia, and other developing countries in the region, is further expected to bolster Asia-Pacific cool roof coatings market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Cool Roof Coatings Market By Material Type, By Product, By Application, By End-Use, By Region, Competition Forecast & Opportunities, 2024” has evaluated the future growth potential of global cool roof coatings market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global cool roof coatings market.
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