Growth in the Construction Industry and the Increased Popularity of Cool Roofs, to Drive the Global Market

Pune, India, December 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Cool Roof Market.

Market Highlights

The growth of the construction industry with significant pace across the globe owing to the increasing urbanization, fading trade barriers for FDI, and surging investments from global construction companies in untapped markets are several parameters driving the global cool roof market during the forecast period. increasing growth in infrastructure development in counties such as Australia, Sweden, India, Germany, Norway, and Canada are also expected to lead to the demand for cool roofs in these countries. Moreover, the increasing demand is also supported by the global refugee crisis and demand for infrastructure development in untapped regions are expected to increase the demand for cool roofs during the forecast period.

The market in Asia-Pacific is expected to witness the highest growth rate in the Global Cool Roof Market during the forecast period: MRFR

By region, the global cool roof market has been segmented into Europe, Asia-Pacific, North America, the Middle East & Africa, and South America. In 2018, Asia-Pacific dominated the global market, primarily due to the growth in residential as well as commercial construction activities, mainly in India, Vietnam, and the Philippines. The construction industry in Asia-Pacific is growing due to the population and economic growth, which fuels the Asia-Pacific cool roof market growth. Moreover, the busy lifestyles and the rising purchasing power in the developing countries coupled with the increasing awareness regarding the benefits of cool roofs among consumers is also expected to drive the market growth in Asia-Pacific.

The Global Cool Roof Market was valued at USD 18.6 Billion in 2018 and is expected to witness 7.8% CAGR during the forecast period.

The low-sloped roofs segment is expected to occupy the highest share of the global cool roof market. By roof type, the global market has been segmented into steep-sloped and low-sloped roofs. The low sloped roof segment is expected to register the higher growth rate during the forecast period owing to its capability of reflecting maximum solar energy into the atmosphere as compared to the steep-sloped roof segment. Roofing materials such as foams, coated, built-up roofing systems, modified bitumen, and single-ply members are widely used for low-sloped roofs making it cost-effective and versatile with respect to durability.

The single-ply membranes segment is expected to occupy the largest share of the global cool roof market. By product type, the segments are coated roofs, foam roofs, single-ply membrane, modified BUR, metal roofs, asphalt shingles, tiles, and slates. The single-ply membranes are estimated to dominate the product type segment in the global cool roof market as it is the most commonly used in commercial as well as in residential applications. This is attributed to their flexible, waterproof, and durable characteristics.

The residential segment is expected to occupy the largest share in the global cool roof market. Based on the application, the global cool roof market is segmented into residential, commercial, and industrial. The residential segment is projected to witness the highest CAGR during the forecast period. The residential construction operations is growing across the globe, owing to an increase in population, which is expected to drive the residential segment. Furthermore, the growing concerns of regularity authorities across the world on energy conservation from high energy consumption during summer can provide abundant opportunities and is expected to fuel the growth of the residential segment in the global cool roof market.

Global Cool Roof Market, 2021–2028 (USD Million)
 

Source: MRFR Analysis

Scope of the Report

This study provides an overview of the global cool roof market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for Europe, Asia-Pacific, North America, Middle East & Africa and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global cool roof market by roof type, product type, application, and region.

• By Roof Type
  
  
  
  • Steep-slope Roofs
  
  
  • Low-slope Roofs
  
  
  
  

• By Product Type
  
  
  
  • Coated Roofs
  
  
  • Foam Roofs
  
  
  • Modified BUR
  
  
  • Single-ply Membranes
  
  
  • Asphalt Shingles
  
  
  • Metal Roofs
  
  
  • Tiles
  
  
  • Slates
  
  
  
  

• By Application
  
  
  
  • Residential
  
  
  • Commercial
  
  
  • Industrial
  
  
  
  

• By Region
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Middle East & Africa
  
  
  • South America  
  
  
  
  

Key Players

The Prominent Industry Participants in the Global Cool Roof Market include GAF Materials Corporation (US), Owens Corning (US), IKO Industries Ltd.(Canada), Certain Teed Corporation (US), Tamko Building Products, Inc. (US), ATAS International Inc. (US), Henry Company (US), Malarkey Roofing (US), PABCO Building Products, LLC.(US), and Polyglass S.p.A (Italy).  

Browse Full Report Details @ cool roof market