Roof Coatings Market Size & Share | Industry Analysis, Forecast – 2023 by Akzo Nobel N.V., PPG Industries, Inc., Sika AG, BASF SE, Wacker Chemie AG, RPM International Inc., The Dow Chemical Company, Hempel A/S, the Sherwin-Williams Company and KANSAI PA

Regional Analysis

The Global Roof Coatings Market has been analyzed with respect to five key regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to the healthy growth of the construction industry and rapid urbanization and industrialization in the region. India, Japan, China, and South Korea are the major markets in this region due to increasing government investments in infrastructure development. North America is expected to be the second-largest Roof Coatings Market. The US is a major contributor to the growth of this regional market due to the increasing product demand in reconstruction applications in the country. Europe is another significant region in the Global Roof Coatings Market and the UK, France, Germany, Italy, Spain, and the Netherlands are the major contributors to the growth of this regional market. The Latin American market is witnessing steady growth in end-use industries in countries such as Brazil and Argentina. The marine industry in Brazil is estimated to grow substantially during the forecast period, driving the growth of the regional Roof Coatings Market. In the coming years, increasing opportunities in the construction industry in the Middle East & Africa are likely to propel the growth of the regional market.

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Segmentation

The Global Roof Coatings Market has been segmented on the basis of Type, Substrate, Roof Type, Application and Region

Based on Type, the market has been categorized into bituminous, elastomeric, acrylic, silicone, epoxy, and others.

On the Basis of Substrate, the market has been segmented into metal, concrete, asphalt, plastic, membrane, and others.

By Roof Type, the market has been segregated into flat, low slopped, and steep.

Based on Application, the market has been divided into residential and non-residential.

The market has been divided into five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Market Insights:

Roof Coating is an important product that offers thermal stability, increased durability, and better aesthetics to structures. Roof coatings perform a substantial function as they are the first line of defense against various environmental factors such as rain, sunlight, and wind. The product finds application in almost all residential and non-residential structures with varying designs of roofs such as flat, steep, low-steeped, and even zigzag. The various types of coatings include bituminous, elastomeric, acrylic, silicone, and epoxy.

Roof Coatings add to the lifespan of a structure, which makes them an economical and sustainable solution in the building and construction industry. The growing demand for durable and stiff structures for commercial buildings is likely to propel market growth during the forecast period. Additionally, the vagaries of nature such as heavy rains, wind, and scorching heat cause frequent damage and reduce the durability of structures. Roof Coatings help mitigate such damage. The major players operating in this market have been investing over 3% of their annual sales revenues in the development of new materials and technologies for Roof Coatings applications, which is anticipated to boost product demand during the review period. However, the lack of awareness, limited availability of skilled labor in some of the major emerging economies, and fluctuating raw material prices may hinder market growth during the forecast period. Rapid urbanization, shifting consumer trends in favor of sustainable structures, and robust industrialization in developing countries are likely to offer market players opportunities for growth.

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