Portland, OR -- (SBWIRE) -- 09/01/2017 -- Roof Coatings are designed to extend the service life of roof assemblies for new construction and existing roof coverings such as modified bitumen, spray polyurethane foam, and single ply membranes. They are thicker when compared to paint and contain higher solids content.

They are formulated to shield roofs from damaging weather influences such as UV light, wind, and excessive water. The quality and volume of resins utilized during manufacturing these coatings allow the coating to sustain its elastic properties throughout its service life. Once cured, these resins form a durable and elastomeric film, which allows the roof coating to bridge membrane seams and small cracks found on roofs. In addition, roof coatings are the least costly and most effective option, which assists buildings in saving energy.

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Rising disposable incomes and increasing construction activities are the primary factors that drive the roof coating market globally. Regulatory compliance to incorporate cool roof coatings and changing consumer preferences towards sustainable building techniques are the other factors that supplement the market growth. Asia-Pacific is expected to register substantial growth due to the burgeoning consumption of roof coatings in various countries including India, Thailand, Malaysia, and China.

Lack of awareness about roof coatings and prolonged recession in some countries of Europe may hinder the market growth. However, emergence of new technologies and the growing demand for green roof coatings are factors that are expected to provide potential growth opportunities for market expansion.

The report segments the market on the basis of type, roof type, technology, equipment, application, and geography. According to type, the market is segmented into elastomeric & plastic, bituminous, tiles, metals, and others. Based on roof type, the market is segmented into low sloped roof, steep sloped roof, and others. On the basis of technology, the market is bifurcated into water-based and solvent-based. By equipment, the market is divided into airless sprayers, brushes & rollers, and others. On the basis of application, the market is classified into residential buildings and non-residential buildings.

The non-residential buildings segment is further divided into commercial & office, institutional, industrial, hospitality & leisure, and others. The geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.

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The major players that operate in the global market focus on key market strategies such as mergers, acquisitions, collaborations, and partnerships to strengthen their market reach to maintain their position in the competitive market.

Comprehensive competitive analysis and profiles of major market players provided in the report include:

- Akzo Nobel N.V.
- BASF SE
- Bayer MaterialScience LLC
- Graco Inc.
- Nippon Paint Co. Ltd.
- PPG Industries Inc.
- RPM International Inc.
- The 3M Company
- The Dow Chemical Company
- Valspar Corporation