ID: MRFR/CO/7175-HCR | February 2021 | Region: Global | 107 pages
Coof Roof Market Overview
The Cool Roof Market has great growth which can be reached in $38.20 billion with a CAGR of 7.8%. Then it can be predictable of the CAGR by 2028 is estimated at 5.7%.
There are many benefits in using cool roofs in construction because they can able to reflect the maximum heat when compared to conventional rooftops. In recent days many people are getting focused on green technology as it can reduce the high consumption of cooling devices like air conditioners. By using cool roofs in the buildings can reduce the heat of the room or the building by maintaining the low temperature.
In recent days the cool roof market is growing at a tremendous height because of the people's focus on the green building project. The green building project is been liked and impressed by the people who are preferring the eco – friendly things. The cool roofs are used in both the residential and the commercial sectors. The cool roofs are getting in the top place in the market because of the focus to reduce the emission of the greenhouse gas which is emitted from the air conditioner. To reduce emissions and control global warming and climate changes many are preferring cool roofs for construction purposes. So these factors created the demand for cool roofs in the market.
In 2020 the world faced the breakout of the COVID globally across all over the world. Because of this many markets faced tremendous lose. To control the spread of the virus many governments planned to implement the lockdown all over the country. Because of the lockdown, the cool roof market has been severely impacted as the construction works have halted for many months. So there was a shortage of labour, transportation was lagging and there was an increase in the cost of the raw materials. So that there were delays in delivery and production which increased the demand for the cool roof materials. But as soon as the situation gets normal the cool roof market got steady because of its demand in the market.
As in many countries, the main motive is to preserve energy, because of the rapid population and increase in global warming these countries are focusing on the energy-saving system. So there increase in the great demand for reflective materials like roofs and coatings instead of using air conditioners. Also, there is some great awareness provided by the government about the benefit of using the long-lasting coating, roofing and about the cost-effectiveness.
With the increase in awareness and interest about pollution and global warming people are focusing on the newly developed technology called the green building which is eco–friendly and cost-effective. This acts as the main driving force for the development of the cool roof market share.
In recent days the because of the break out of the pandemic issues, the market value got too low. But after the pandemic, the demand for cool roofing materials raised the cool roof market size. There are a raise in opportunities in the market in recent times because of the rapid industrialisation and also an increase in the focus on green buildings. Even the growth opportunities have increased because of the increase in the new technology and the people's focus to reduce the emission of green gas by using air conditioners.
The main restraints for the cool roof market growth are the less awareness about the benefits of the cool roof products. The second restraint for the growth of the cool roofing market is the increase in the cost of the raw materials. Because of the increase in the cost of raw materials the manufacturer company are getting interrupted to provide the roofing materials for a low cost.
One of the main challenges faced by the cool roof market is the high-cost maintenance and repair is required to use the roof for long period. Additionally, it is estimated that the cost per square feet of the cool proof is high which restraints the market growth. Even in recent times many construction companies and builders are not using cool roof products because of the high-cost maintenance. Many manufacturing companies are also working hard to buy the raw materials for the low cost.
Cool Roof Market Value is expected to get tremendous growth in many regions like Australia, India, Sweden, Norway, Germany and Canada. This is possible because of the growth of infrastructure development in the construction sector. Many constructional companies are preferring cool roof products because of their heat-reflecting nature and they can maintain the cooling temperature of the building, it is also used for its long term durability. In present days because of the global warming and emission of green gas, many governments are introducing cool roofs to their construction sector to maintain eco-friendly nature and also to develop green roofing in their countries. This paved the way for the growth of the cool roof industry.
Many challenges and growth are happening in the cool roof market. But there are many residential and non – residential sectors that are focusing to get the benefits of using cool roof products. Even many governments are worried about global warming, so they are introducing green roofing and the eco – friendly roofing for construction. In developing the new technology the cool roof is coated with white coating or special reflective pigments that can reflect the sunlight and help in protecting the roofs from ultraviolet radiations, water rusting and chemical damage can also be controlled against the new coated cool roof.
Market segment overview
Asia – Pacific
The Middle East and Africa
Central and South America
The rest of the world
After the severe impact of the chain gap which followed by the lockdown caused the demand for the cool roof products. Once the government regained all the restrictions the demand increased for the products because of this tremendous demand, the increase in Production Company. After this, some cool roof market trends are raising because of the increase in green building construction. So the cool roof production companies are increasing their production rate to compensate for the need of the consumers. So that there won't be any delay in providing the materials to the consumers. They are also planning to expand and extend their ideas to increase their production rate.
Cool roof products are specifically used in some regions because of the climate conditions. Because of the heat-reflecting nature of the cool roof. In North America, there is an increase in demand for cool roof products. This is because of the infrastructure developed areas like Missouri, New York and Los Angeles. In the US there is great demand because there are an increased number of renovation and construction. Then the Asia Pacific is also the second-largest market, it is also known that it can be getting better growth in the future.
When compared to North America and the Asia Pacific regions the regions like Europe, the Middle East, Africa, Central and South America has less usage and growth in the cool roof market.
Here is the list of the key players of the cool roof market.
In recent times because of the growth of the constructional sector the cool roofing market is also having high demand. This is due to its long term durability and eco-friendly nature.
|CAGR||7.9% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Owens Corning (US), GAF Materials Corporation (US), Certain Teed Corporation (US), IKO Industries Ltd. (Canada), Tamko Building Products, Inc. (US), Henry Company (US), ATAS International Inc. (US), PABCO Building Products, LLC. (US), Malarkey Roofing (US), and Polyglass S.p.A (Italy)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global cool roof market is projected to grow at approximately 7.9 % CAGR during the assessment period (2022-2030).
Global cool roof market had created a valuation of around USD 18.6 BN in 2018.
The increase in the demand for energy is due to population. And the growing trend to build green buildings to avoid global warming and greenhouse gas.
Asia Pacific holds the largest share in the global cool roof market, followed by North America and Europe, respectively.
GAF Materials Corporation (US), Polyglass S.p.A (Italy), Owens Corning (US), PABCO Building Products, LLC. (US), IKO Industries Ltd.(Canada), Malarkey Roofing (US), Henry Company (US), Certain Teed Corporation (US), ATAS International Inc. (US), and Tamko Building Products, Inc. (US), are some of the top players operating in the global cool roof market.