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Cool Roof Coatings Market Heats Up

Thursday, March 9, 2017

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Globally, the cool roof coating market is expected to reach $5.41 billion by 2025, up from $2.8 billion in 2015, a new study suggests.

The market demand was at 37.7 million liters in 2015 and is expected to reach 78.5 million liters by 2025, growing at a compound annual growth rate of 7.6 percent from 2016 to 2025, according to the “Cool Roof Coating Market Analysis” report. Published by Grand View Research Inc., the study analyzes the market by product, application, end-use and segment

Cool Roof Coatings
© iStock.com / Sandiegoa

North America accounted for over 35 percent of global cool roof coating demand in 2015.

Favorable regulations focused on lowering energy consumption of residential, commercial and industrial structures will be a major factor in driving demand around the world, the firm says.

In the coming years, the development of new coatings for metal roof systems is seen as an avenue for growth among roof coating manufacturers. The market participants are also expected to focus on developing technology to improve the UV resistance of the coatings, the firm says.

Market Insight

North America will maintain its dominance over the cool roof coating market for the forecast period, the firm says. North America accounted for over 35 percent of global demand in 2015.

“Early implementation of building codes and high awareness regarding building energy consumption among consumers has helped the market penetration,” the firm explains.

Asia Pacific is also expected to witness strong growth. There, increasing infrastructure spending combined with the growing awareness of green building codes in China, India and Southeast Asian countries is expected to support regional demand, the firm suggests.

The industrial building sector will remain the leading consumer of cool roof coatings, representing 38 percent of the global market.

   

Tagged categories: Business matters; Cool roof coatings; Economy; Market; Market trends; Metal roof coatings; Roofing contractors

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