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Global Cool Roof Coatings Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Cool Roof Coating Market Revenue Was Valued At $ 905.19 Million In 2018
Cool roof coatings are white or special reflective pigments that reflect sunlight. Coatings are like very thick paints that can protect the roof surface from ultra-violet (UV) light and chemical damage, and some offer water protection and restorative features. Products are available for most roof types.
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. According to the report, global revenue for Cool Roof Coating market was valued at $ 905.19 million in 2018, and is expected to generate revenue of $ 1147.94 million by end of 2025, growing at a CAGR of 3.45% between 2018 and 2025.
The cool roof coatings industry is highly competitive and consists of several large firms with global presence and many smaller firms serving local or regional markets. Of the major players of cool roof coatings, PPG maintained its world’s largest position. PPG accounted for 7.15% of the global cool roof coating revenue market share in 2018. Other players accounted for 6.22%, 5.40% including Sherwin-Williams and Gardner-Gibson.
In this study, the market for Cool Roof Coating consumption divided into five geographic regions. In terms of value, North America accounted for 34.85% of global Cool Roof Coating market share, in the Europe 26.40%, in Asia Pacific 34.60%. Among all regions, North America occupied the largest market share, 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.
On the basis of product type, the Acrylic Cool Roof Coatings segment is projected to account for the largest volume share during the forecast period; this segment was estimated to account for 63.01% volume share in 2018. While the Silicone Cool Roof Coatings category is forecast to increase at the fastest pace during the forecast period. Superior performance of the product and rising demand for energy-efficient roofing systems are expected to be major factors driving product demand.
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