14-May-2019: The global cool roof coating market size is
expected to reach USD 5.41 billion by 2025, according to a new report by Grand
View Research, Inc., registering a 7.0% CAGR over the forecast period. Energy
savings offered by these coatings, along with favorable regulations, are slated
to drive the market.
Use of cool roof coatings can
prevent structural deformity caused by severe temperature fluctuations. It also
lowers dependency of air conditioning by reducing heat built up in buildings,
which in turn, reduces energy consumption.
Favorable regulations and
government support in the form of tax benefits and financial incentives are
expected to propel product demand. Increasing awareness regarding energy
savings as well as environmental benefits offered by cool enamels will play a
vital role in market expansion. However, limitations associated with long-term
durability of such coatings owing to usage of titanium dioxide as a critical
ingredient is projected to remain a key challenge for market players.
Advent of new polymers and
resins with lower volatile organic compound (VOC) ratings are likely to
contribute to product demand as an eco-friendly choice. Increasing efforts to
reduce VOC limits in different geographies is expected to create ample
opportunities for cool roof coatings as an alternative to meet stringent
regulations.
Manufacturers are focused on
development of new technologies to enhance UV resistance of these coatings.
Introduction of microcells and nanotechnology for reducing heat flux and
increasing energy conservation is projected to drive demand for cool roof
coatings over the forecast period.
In
depth research report on Cool Roof Coatings Market
Further
key findings from the report suggest:
· The
global cool roof coatings market demand is anticipated to reach 78.5 million
liters by 2025, expanding at a CAGR of 7.4% from 2018 to 2025
· By
application, the slow-sloped segment dominated the global cool roof coatings
market with a share of over 60.0% in 2017
· North
America is projected to exhibit a strong volume-based CAGR of 7.6% over the
forecast period, on account of abundant availability of raw materials and
rising consumer inclination toward green building initiatives
· Asian
countries such as China and India are projected to witness remarkable growth
over the forecast period owing to rapid urbanization and increasing
infrastructure spending
· Some of
the key companies in the industry are The Dow Chemical Company, KST Coatings,
Valspar Corp., Sika Sarnafil, Nippon Paints, Monarch Industries, and Nutech
Paints.
Grand View Research has
segmented the global cool roof coatings market on the basis of product,
application, end use, and region:
Cool
Roof Coatings Product Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014
- 2025)
· Elastomeric/White
· IR
Reflective/Colored
Cool
Roof Coatings Application Outlook (Volume, Kilo Liters; Revenue, USD Million,
2014 - 2025)
· Slow-Sloped
· Steep-Sloped
Cool
Roof Coatings End-use Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014
- 2025)
· Residential
· Commercial
· Industrial
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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