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Cool Roof Coatings Market Report - Global Forecast till 2030

Cool Roof Coatings Market: Information by Product Type (Elastomeric, IR Reflective), Roof Slope (Steep-Sloped Roof, Low-Sloped Roof), Application (Commercial, Residential, Industrial), Region (Asia-Pacific, North America, Europe) - Forecast till 2030

ID: MRFR/CnM/6361-HCR | February 2021 | Region: Global | 140 pages

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Cool Roof Coatings Market Synopsis:



A cool roof coating is an environment-friendly roofing system. Cool roofs didn’t have color shades. A cool roof is a kind of roofing design that is efficient in reflecting heat rather than absorbing it. Cool roof coatings are the systems to show more sunlight combined with lower absorption of heat as contrasted to the standard roof. Cool roof coating has risen to get considerable on account of its activities about decreased energy bills, long-lasting roof service life, and enhanced indoor comfort. The market size of international 
cool roof coating is expected to achieve USD 6.42 billion by the year 2027, registering a CAGR of 7.9% during the forecast period.


 


Increasing developments in the industrial and residential sectors are anticipated to positively affect the demand. Cool roof coatings decrease the heat expansion within the constructed buildings, thus boosting their performance & activities and decreasing the gross maintenance cost.


 


COVID 19 Analysis:


 


The pandemic outbreak has modified the rise projections of various businesses and sectors. The operations of various industries have been temporarily shuttered or are operating with a nominal workforce owing to strict lockdowns and enact restrictions by corresponding governing bodies. 


 


The market trend of international Cool Roof Coating is not diverse, and this key factor is expected to have a considerably negative effect on the profit growth of this cool roof coating industry. In addition, the huge costs related to the maintenance and installation of this equipment are also a major factor that might hinder the profitable growth of the international market growth of Cool Roof Coating throughout the forecast period.


 


Market dynamics:


 


Market drivers:


 


Cool roof coatings provide energy saving by decreasing the quantum of solar radiation grasped by the roof. This might reduce the demand for Heating Ventilation and Air Conditioning tools to maintain the appropriate temperature within the constructed building. This is a major factor that leads to considerable financial savings in power expense and boosts the convenience of the customer. Rising customer preference for indoor content through saving energies technologies is anticipated to be the key driver of the Cool Roof Coating market.


 


Enhancing the economic lucrative of the developing monetary and increasing urbanization are amidst some of the major trends impacting the market trend positively. Additionally, rising middle-class families combined with the rising disposable profits of the customers, and modifying customer preference about power-efficient materials have further boosted the requirement for cool roof coatings markets. These factors increase the market growth and market trends of the cool roof coating.


 


Market opportunities:


 


Cool coating for roofs is regarded as one of the intelligent techniques of inviting coolness, especially during the hotter climates of the Middle East and Africa, a few Asia Pacific countries such as India, and Brazil. The adoption of government standards about nominal energy consumption in the form of building codes has triggered the progress of the world's cool roof coating market. 


 


The cool coating technology is one of the effective efforts taken globally for influencing the consumption of energy in both commercial and residential sectors. This has also consequence in the regulation of carbon emissions. The global market has gained support from different government officials that require the execution of cool coating technology. The market trend of attentive customers combined with an evident increase in the investments of air conditioning systems has launched the requirement in the market share of the cool roof coating market. 


 


Market restraints:


 


The major restraints of the market of cool roof coating are the limited application, high costs, and mold. The demand for these materials makes less market growth. This kind of material is quite expensive and lack of awareness of this market could restraint the cool roof coating market trend. 


 


Exchanging an existing roof with a cool roof constitutes a considerable initial capital investment that builds cool roofs not perfect for those buildings under a precise budget. Even though, it could be mentioned that the decreased maintenance costs and also the power savings that cool roofs offer help nullify this high initial investment in this market. Cool roofs are provided in common areas that get huge quantities of sunlight and heat. cool roof coating could be extremely adaptable to mold growth, even than the traditional roofing system. These limiting factors restrict the market growth of the cool roof coating market.


 


Market challenges:


 


The cool roof coating is the best option for the heavy heat regions. Although, cool roofs could be more acceptable to breakdown down growth in the case of high humidity. The process of Cooling roofs is much unsafe than the traditional roofing systems. A cool roof method could be quite cost expensive to middle-class people and baseborn people. The high capital cost of a cool roof coating system could be neutralized by the lesser maintenance need and power savings.


 


Cool roofs could be a better option for roofing systems, but the problem is the system has insufficient in its applications. The cool roof coating could only be utilized in areas with heavy sunlight. These regions are not suggested for the ones with very cool winters. Due to its cooling nature its cooldowns the entire place, making it intolerable to live in the cooler and winter seasons.


 


Cumulative growth analysis:


 


The sloped roof supplication influenced the market of cool roof coating and is expected to reach a considerable Compound Annual Growth Rate throughout the forecast period due to its benefits, like low build-up products than the sloped operation and less capital installation cost. Less-sloped roofs are broadly utilized for commercial and industrial buildings. Increasing awareness regarding the importance of green building construction along with stern regulations concerning roofing materials for industrial and commercial constructions have consequences in greater perforation in less-sloped roofing methods. The global market of cool roof coating was at USD 4.35 billion in the year 2019 and is expected to achieve USD 6.42 billion by the year 2027, registering a CAGR of 7.9% during the forecast period.


 


Sharp-sloped roofs apps are expected to evident the hasten growth throughout the forecast period on considerate of their increasing use in the residential sector, especially in regions that have high rainfall and snowfall. The market share of the cool roof coating is considerably high compared with the traditional system of roofing because of its advanced nature and application and user-friendly materials the market growth is extensive and the trend of this brand is also famous over the region. Beneath the benefits, even though the demand for the market of cool roof coatings is anticipated to rise in the sharp-sloped roofs apps segment shortly years, owing to the rising availability of fast-drying coatings and technological advancement of the system techniques.


 


Value chain analysis:


 


Cool roof coatings have developed into an astonishing advancement in the improvement of segment due to its utility in both diminishing the CO2 (carbon dioxide) outflows needed by the structure and upgrading the comfort of the structure. The market trend of cool roof coatings is possibly going to drive the invasion of environmentalism in the future years, as listed programs that minimize the natural effect of a design are likely going to break up popular in the future among various socioeconomics. 


 


Previously cool roof coatings restrict the compute of sun radiation used by the rooftop, it reduces the need for Heating Ventilation and Air Conditioning hardware to rival the temperature within the design. This besides induces significant budgetary reserve costs in energy consumption, which makes it dual benefits for the customer. This extraction going to be the key driver for the international cool roof coatings exhibit in the future years.


 


Segment overview:


 


Based on Segments:


 



  • Product Type

  • Roof Slope

  • Application

  • Region


 


Based on Product Type:


 



  • IR Reflective

  • Elastomeric


 


Based on Roof Slope:


 



  • Low-Sloped Roof

  • Steep-Sloped Roof

  • Sharp-Sloped Roof


 


Based on Application:


 



  • Industrial

  • Commercial

  • Residential


 


Based on Region:


 



  • Europe

  • North America

  • Asia-Pacific (APAC)

  • Other parts of the world


 


Global Cool Roof Coatings Market, by Application2018 (%)  Cool Roof Coatings Market_Image


Source: MRFR Analysis


Regional analysis:


 


North America is anticipated to be the leading regional market of cool roof coatings. Rising customer awareness, acceptable building codes, and encouraging regulations are important key factors for the market growth of cool roof coating in the regional market. Europe is expected to be the 2nd highest regional market of cool roof coatings application. The councils of both European Cool Roof and Cool Roof Rating in the region of Europe and North America corresponded to have considerably driven the regional market growth.


 


APAC is likely to evident the quickest market growth due to the improvement of its developing countries like India, Thailand, China, Vietnam, and Indonesia. Rising adoptions of the green architectural codes in these regions are the major factor that drives the growth of APAC cool roof coatings. The execution of the Affordable Healthcare Act in the United States has induced the forming of hospitals & healthcare units. The increasing population is anticipated to further improvements and the formation of office spaces, schools, factories, and colleges, therefore, drives the requirement of the market of cool roof coatings in the building sector.


 


Competitive landscape:


 



  • RPM International Inc. (US)

  • The Dow Chemical Company (US)

  • Nippon Paint Holdings Co. Ltd. (Japan)

  • Valspar (US)

  • BASF SE (Germany)

  • Nutech Paints (US)

  • Akzo Nobel NV (Netherlands)

  • GAF (US)

  • The Sherwin-Williams Company (US)

  • Hempel A/S (Denmark)

  • Excel Coatings (India)

  • Sika AG (Switzerland)

  • Wacker Chemie AG (Germany)


 


Recent developments:


 


Jan 2022 - Engineers at Berkeley Lab have developed an all-season smart roof covering that keeps homes cool in the summer without wasting natural gas or electricity. Depending on the outside air temperature, the all-season roof coating varies from keeping you cold to keep you warm. Vanadium dioxide, a peculiar chemical, is the key to the technique (VO2). The researchers observed that electrons in vanadium dioxide behave like metals when it comes to electricity but act as an insulator for heat. Vanadium dioxide is transparent to thermal-infrared light below 67 degrees Celsius. However, when vanadium dioxide reaches 67 degrees Celsius, it becomes a metal and absorbs thermal-infrared light. A phase-change material is defined as one that can move from one phase to another – in this case, from insulator to metal.

In the year 2019, Nouryon declared to launch a unique solution for the construction and building markets that enhance the efficiency of power-saving Cool Roof coatings by boosting their ability to reflect sunlight and improve their cleaning qualities.


 


The unique modern concept coupled with the “Nouryon’s Expancel “extendable thermoplastic nanosphere, which enhances the performance of the cool roof coatings, and their colloidal silica, which boosts the performance of the cool roof coatings, declared a report from the corresponding companies. This new cool roof coating with Expancel nanospheres could bring down the outer plane temperature of a constructed building by 15-degree Celsius.


Report overview:


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments



Segmentation Table:


Based on Segments:



  • Product Type

  • Roof Slope

  • Application

  • Region


Based on Product Type:



  • IR Reflective

  • Elastomeric


Based on Roof Slope:



  • Low-Sloped Roof

  • Steep-Sloped Roof

  • Sharp-Sloped Roof


Based on Application:



  • Industrial

  • Commercial

  • Residential


Based on Region:



  • Europe

  • North America

  • Asia-Pacific (APAC)

  • Other parts of the world



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2018: USD 3.3 Million
  • 2030: Significant value
  •   CAGR   7.2%(2022–2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Product Type, Application and Region
      Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   BASF SE (Germany), Akzo Nobel NV (Netherlands), RPM International Inc. (US), The Sherwin-Williams Company (US), Hempel A/S (Denmark), The Dow Chemical Company (US), Wacker Chemie AG (Germany), Sika AG (Switzerland), Nippon Paint Holdings Co., Ltd (Japan), Valspar (US), Nutech Paints (US), GAF (US), Monarch Industries Ltd (Canada), and Excel Coatings (India)
      Key Market Opportunities   To cater to the rising demand in various end-use industries, manufacturers of cool roof coatings are focusing on producing advanced cool roof coatings.
      Key Market Drivers   The increasing electricity prices have driven the industries to shift onto alternative solutions.


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    Frequently Asked Questions (FAQ) :

    The valuation of the global cool roof coatings market had reached USD 6.42 billion by the year 2027

    The market size of international cool roof coating is expected to achieve USD 6.42 billion by the year 2027, registering a CAGR of 7.9% during the forecast period.

    • RPM International Inc. (US) • The Dow Chemical Company (US) • Nippon Paint Holdings Co. Ltd. (Japan) • Valspar (US) • BASF SE (Germany) • Nutech Paints (US) • Akzo Nobel NV (Netherlands) • GAF (US) • The Sherwin-Williams Company (US) • Hempel A/S (Denmark) • Excel Coatings (India) • Sika AG (Switzerland) • Wacker Chemie AG (Germany)

    • Product Type • Roof Slope • Application • Region

    The major restraints of the market of cool roof coating are the limited application, high costs, and mold.