Global Cool Roof Coatings Market - Industry Trends and Forecast to 2031

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Global Cool Roof Coatings Market - Industry Trends and Forecast to 2031

  • Chemical and Materials
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Cool Roof Coatings Market, By Product (Elastomeric, IR Reflective), Application (Low-sloped, Steep-sloped), End-use (Residential, Commercial, Industrial) - Industry Trends and Forecast to 2031.

Cool Roof Coatings Market

Cool Roof Coatings Market Analysis and Size

The global surge in green building code adoption by emerging economies is expected to boost the demand for cool roof coatings. Governments, driven by concerns over escalating carbon emissions and energy consumption, are enforcing regulations for environmentally responsible buildings. This trend is poised to generate growth opportunities for the cool roof coating market in the near future.

However, the market has a notable shift in consumer preferences towards cost-effective and durable coatings, rather than short-term, quick solutions. Property managers and industrialists are increasingly focusing on the lifecycle assessment of cool roof coatings. While opting for cheaper variants initially reduces costs, the subsequent necessity of re-coating every three to five years proves to be significantly more expensive in terms of materials, labor, and time. This aspect poses a potential challenge to future growth.

Data Bridge Market Research analyses that the global cool roof coatings market which was USD 4.02 billion in 2023, will reach USD 6.67 billion by 2031, and is expected to undergo a CAGR of 6.6% during the forecast period of 2024 to 2031.  

“Elastomeric” dominates the product segment the global cool roof coatings market due to its versatile properties, including flexibility and durability. Elastomeric coatings provide effective thermal insulation, contributing to increased demand.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.       

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volume in Units, Pricing in USD

Segments Covered

Product (Elastomeric, IR Reflective), Application (Low-sloped, Steep-sloped), End-use (Residential, Commercial, Industrial)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa

Market Players Covered

GAF Materials Corporation (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Sherwin-Williams Company (U.S.), PPG Industries (U.S.), Sika AG (Switzerland), Nutech Paint (Australia), Hy-Tech Thermal Solutions (U.S.), KST Coatings (U.S.), Henry Company (U.S.), Mascoat (U.S.), Lapolla Industries, Inc. (U.S.)

Market Opportunities

  • Rising awareness in developing economies
  • Innovation and product development

Market Definition

Cool roof coatings are reflective roofing materials applied to building surfaces to reduce heat absorption and minimize heat transfer to the interior. These coatings enhance energy efficiency by reflecting sunlight and reducing the overall temperature of the building, thereby decreasing the need for air conditioning and lowering energy consumption.

Global Cool Roof Coatings Market Dynamics

Drivers

  • Increasing Global Emphasis on Energy Efficiency and Sustainability

The increasing focus on energy efficiency globally has propelled the demand for cool roof coatings. These coatings play a crucial role in reducing energy consumption by reflecting sunlight and minimizing heat absorption. Businesses and homeowners are increasingly adopting these coatings as a sustainable solution to enhance building energy performance as energy costs rise and environmental consciousness grows.

  • Stringent Environmental Regulations

The stringent environmental regulations and green building standards are compelling industries and construction projects to adopt eco-friendly practices. Cool roof coatings, with their reflective properties, align with these regulations, providing a viable solution to reduce a building's carbon footprint. This driver is pushing the market towards sustainable and environmentally responsible building practices.

Opportunities

  • Rising Awareness in Developing Economies

The increasing awareness of energy efficiency and environmental sustainability in developing economies presents a significant opportunity for market expansion. The demand for sustainable building solutions like cool roof coatings is expected to rise as these regions undergo urbanization and infrastructural development.

  • Innovation and Product Development

The companies investing in research and development to introduce innovative cool roof coating solutions. Addressing specific challenges, such as improving application efficiency, extending product lifespan, and enhancing overall performance, will contribute to market growth by meeting diverse consumer needs and preferences.

Challenges/Restraints

  • Initial Cost Concerns

While cool roof coatings offer long-term energy savings, the initial upfront cost can be a deterrent for some consumers. Overcoming this restraint involves educating stakeholders about the long-term benefits, reduced operational costs, and environmental advantages associated with cool roof coatings.

  • Limited Applicability

Some roofing structures or materials may not be suitable for cool roof coatings, restricting their adoption in specific regions or industries. Overcoming the limitations of applicability and expanding the range of compatible roofing systems is crucial for market growth.

  • Lifecycle Assessment

The complex task of accurately assessing the true lifecycle cost and environmental impact of cool roof coatings poses a challenge. Understanding and quantifying the long-term benefits and drawbacks is essential for informed decision-making among consumers, architects, and builders.

  • Technological Challenges

Ongoing advancements in cool roof coating technologies are essential for maintaining consistent performance over an extended period. Challenges may include developing coatings with enhanced durability, weather resistance, and adaptability to various roofing materials, ensuring they meet evolving industry standards and customer expectations.

This global cool roof coatings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global cool roof coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

  • In May 2020, Nouryon introduced an innovative solution for the building sector, enhancing cool roof coatings' efficiency with Expancel microspheres and Levasil® colloidal silica. The technology, already successful globally, is now available in the U.S. through collaboration with distributor CoadTech

Global Cool Roof Coatings Market Scope

The global cool roof coatings market is segmented on the basis of product, application, and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Elastomeric
  • IR Reflective

Application

  • Low-sloped
  • Steep-sloped

End-Use

  • Residential
  • Commercial
  • Industrial

Global Cool Roof Coatings Market Regional Analysis/Insights

The global cool roof coatings market is analysed and market size insights and trends are provided by product, application, and end-use are referenced above.

 The countries covered in the global cool roof coatings market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

North America dominates the global cool roof coatings market due to a strong emphasis on energy efficiency, stringent building codes, and a proactive approach toward sustainable construction practices.

Asia-Pacific is the fastest-growing region due to rising awareness and infrastructure development.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Cool Roof Coatings Market Share Analysis

The global cool roof coatings market competitive landscape provides details by competitors. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the global cool roof coatings market are:       

  • GAF Materials Corporation (U.S.)
  • BASF SE (Germany)
  • The Dow Chemical Company (U.S.)
  • Sherwin-Williams Company (U.S.)
  • PPG Industries (U.S.)
  • Sika AG (Switzerland)
  • Nutech Paint (Australia)
  • Hy-Tech Thermal Solutions (U.S.)
  • KST Coatings (U.S.)
  • Henry Company (U.S.)
  • Mascoat (U.S.)
  • Lapolla Industries, Inc. (U.S.)


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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Frequently Asked Questions

The cool roof coatings market size will be worth USD 6.67 billion by 2031.
The growth rate of the cool roof coatings market is 6.6% in the forecast by 2031.
Increasing global emphasis on energy efficiency and sustainability & stringent environmental regulations are the growth drivers of the cool roof coatings market.
Product, application, and end-use are the factors on which the cool roof coatings market research is based.
Major companies in the cool roof coatings market are GAF Materials Corporation (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Sherwin-Williams Company (U.S.), PPG Industries (U.S.), Sika AG (Switzerland), Nutech Paint (Australia), Hy-Tech Thermal Solutions (U.S.), KST Coatings (U.S.), Henry Company (U.S.), Mascoat (U.S.), Lapolla Industries, Inc. (U.S.).