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.
New York, NY -- (SBWIRE) -- 02/01/2021 -- 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.
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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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.
Further key findings from the report suggest
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, schools, 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.
The global Cool Roof Coatings market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Cool Roof Coatings market are listed below:
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.
Product Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-use Outlook (Revenue, USD Billion; 2017-2027)
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Radical Features of the Cool Roof Coatings Market Report:
Valuable insights into the Cool Roof Coatings market to impart an in-depth understanding of the business verticle
An 8-year forecast estimation along with an analysis of key elements of the market
Technological advancements, regulatory framework, and recent developments covered in the report
Growth analysis and projections until 2027
Statistical analysis of the key players operating in the Cool Roof Coatings industry
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Cool Roof Coatings Market Segmentation & Impact Analysis
Chapter 5. Cool Roof Coatings Market, By Type Insights & Trends
Chapter 6. Cool Roof Coatings Market, By Application Insights & Trends
Chapter 7. Cool Roof Coatings Market, By End Use Insights & Trends
Chapter 8. Cool Roof Coatings Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
10.1. Nutech Paint
10.2. The Valspar Corporation
10.3. Nippon Paint (M) Sdn. Bhd.
10.4. Sika AG
10.5. Excel Coatings
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