New York, NY -- (SBWire) -- 12/10/2018 --Cool roof coating has become a trend, globally, in recent years, due to the sustainability it provides, and the market is projected to register a CAGR of 7.2% by 2028. The latest report published by Fact.MR gives all the key insights and vital details on cool roof coating, in the outlook titled, 'Cool Roof Coating Market Forecast, Trend Analysis, & Competition Tracking – Global Review: 2018 to 2028'.

Scope of the Report

The global cool roof coating market is analyzed on the basis of technology, material, application, roof type, and region.

On the basis of technology, the cool roof coating market is divided into water-based and solvent-based. The market share of the water-based cool roof coating segment is more than that of the solvent-based segment. The CAGR of the water-based cool roof coating segment is expected to reach 7.4% in terms of revenue by the year 2028. But, the solvent-based cool roof coating segment is also increasing in demand, and is expected to reach a revenue of US$ 1,603.5 Mn by 2028. This is due to their longevity and easy application.

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On the basis of material, the cool roof coating market is segmented as elastomeric plastic, tiles, and metals. Out of these, the elastomeric plastic segment has the highest market share. Cool roof coating containing elastomeric plastic is expected to register a CAGR of 7.3% in terms of revenue by 2028. Elastomeric plastic is being used as a material in many types of cool roof coating, as it has high heat resistance, high longevity, and is cheap for the manufacturers of cool roof coating.

On the basis of application, cool roof coating is used in residential, commercial, hospitality, and healthcare. On the basis of application, the cool roof coating composition also differs. For healthcare and hospitality, cool roof coatings used are water-based, due to the odor-less technology these coatings offer. For commercial and residential purposes, cool roof coating is mostly preferred to be highly durable, so the cool roof coating contains solvent-based solutions. But the use of cool roof coating is higher in commercial buildings, which had a revenue of US$ 917.2 Mn in the year 2017.

On the basis of roof type, the cool roof coating market is segmented on the basis of low-sloped rooftops and steep-sloped rooftops. On the basis of region, the global cool roof coating market is segmented into North America, Latin America, Western Europe, Eastern Europe, South-East Asia & Pacific, Middle East & Africa, and China.

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Reduced Energy Consumption Likely to Increase the Demand for Cool Roof Coating, Especially in the Hotter Regions of the World

Cool roof coating is known to reflect almost 60% of sunlight, thus limiting the heating a room or building. This, in turn, reduces the energy required for air-conditioning, and saves on the cost of electricity. This is especially useful in commercial buildings that have a low-sloped roof, and can thus save a lot more on electricity as well as on cool roof coating charges, as compared to residential buildings with steep-sloped roofs, for which the charges for cool roof coatings are higher. Cool roof coating is also highly beneficial for buildings in the hotter regions of the world, where a high amount is paid for electricity. The commercial buildings segment is expected to register a CAGR of 7.4% by 2028 in terms of revenue, and continue to have the highest market share by application in the cool roof coating market.

Research and Development Could Make Cool Roof Coating Even More Popular, and Can Make It Pleasing Even for Small- and Medium-sized Enterprises

Small- and medium-sized enterprises want low-cost as well as aesthetically pleasing options. These enterprises seek the advantages offered by cool roof coating due to the savings in electricity. But the color of cool roof coating, being only white, can be a put-off. Fast-food restaurants and chain stores want to also match their signature logo colors. This has made cool roof manufacturers invest more in R&D to come up with architecturally appropriate and aesthetically pleasing options that can be incorporated by consumers who are on a low budget.

Developed Countries More Likely to Use Cool Roof Coating In Comparison With Developing Countries

North America and Western Europe have experienced a CAGR of 7.0% and 6.3%, respectively, until 2017, for the cool roof coating market in terms of volume. Developed countries are opting for more sustainable ways of living, and are trying their best to incorporate lifestyles or products that could reduce their carbon footprints. The high use of cool roof coating in these regions could also be due to increasing commercialization.

Market participants in the global cool roof coating market include Akzo Nobel, Asian Paints Ltd., BASF SE, DowDupont, Excel Coatings, GAF Materials, Kansai Paints Co. Ltd., Monarch Industries, National Coating Corporation, Nippon Paints, PPG Industries Inc., Nutech Paints, Sherwin Williams, Sika AG, and Valspar Corporation, among other cool roof coating manufacturers.

Global Cool Roof Coating Market: Key Insights

The increasing growth of the cool roof coating market due to the varied benefits it provides, the drivers and opportunities for the cool roof coating market, increased usage in the specific regions, and the upcoming trends that are expected to increase the sales of cool roof coating are all offered in the report.

Report Overview at https://www.factmr.com/report/2364/cool-roof-coating-market

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