Global Cool Roof Coatings Market to Depict CAGR of 7.10% from 2022 to 2031; Key Players The Valspar Corporation, PPG Industries Inc., GAF Materials Corporation, etc

The cool roof coatings market is anticipated to experience significant growth avenues in the years to come. The growing market prospects have been attributed to the increasing applications of these coatings in the construction industry. These coatings serve as the new age technology, which helps to optimize the extensive performance of cool roof products. This technology is also used to add value to newly developed buildings or the current buildings. Thus, based on these factors, the market has been predicted to grow at a noticeable speed in the forthcoming years.

As per the research report by Transparency Market Research, the cool roof coatings market is estimated to expand at a CAGR of 7.10% and reach the valuation of US$ 554.21 Mn. during the forecast period from 2018 to 2026.

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These coatings are also used to give protection and coverage to the buildings and also adhere to strict regulations. The coatings retain the technical characteristics and also typologies that have been defined by various climatic zones around the world. A blend of inorganic or organic chemistry, the cool roof coatings can absorb, reflect, and scatter radiation.

Furthermore, these coatings can reduce the interior temperature of the buildings and are also used to reduce the development cost. In addition to this, these coatings are also useful to improve the endurance of the building. Thus, based on these innumerable features, the cool roof coatings market has been projected to grow at a rapid pace.

Some of the key players dealing in the cool roof coatings market are The Valspar Corporation, PPG Industries Inc., GAF Materials Corporation, Sika AG, BASF SE, Akzo Nobel N.V., Huntsman International LLC, and DowDuPont Nutech Paint.

Hospitals are Expected to Hold Significant Position Among Centers for Care

The cool roof coatings market is segmented into steep-sloped and low-sloped on the basis of the roof slope. Out of these types, the low-sloped segment has been estimated to expand at a rapid pace in the market during the forecast period. The growth of this segment can be attributed to various advantages, for example, less build-up material compared to the steep-sloped process. Furthermore, the low cost of initial installation is also serving as a significant factor to boost the expansion avenues of the market segment.

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On the basis of application, the cool roof coatings market is divided into industrial, commercial, and residential segments. Out of these segments, the industrial segment is likely to account for the prominent share in the market in the years to come. This dominance of the segment has been on the back of increasing use of IT parks, warehouses, and malls.

The global cool roof coatings market is divided into:

Global Cool Roof Coatings Market, by Application

Residential

Commercial

Industrial

Cool Roof Coatings Market and COVID-19 Pandemic

The sudden emergence of the COVID-19 cases across the world has been estimated to put a profound impact on the growth impetus in the cool roof coatings market. The government of various countries has imposed strict lockdown in order to control the spread of infection among people across the world. All these factors have put a massive impact on the growth of the market.

The strict lockdown has hit the production as well as logistics of coatings to a considerable extent. Further, the rising cases of coronavirus across the world require the greatest precedence is required to detect and treat the coronavirus. Thus, the government imposed lockdown and some other related restrictions have derailed the development avenues in the cool roof coatings market.

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The production of vaccines is helping human beings to return to normal. The economy across the world has been returning to normal. The companies serving in the market have been expected to get various benefits from the gradual recovery of the global economy and rising demand from the end-users. In addition to this, a gradual increase in the production of the cool roof coatings has been expected to put a positive impact on the growth impetus in the market.

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