Roofing Coatings Market Size, Share, Trends, Outlook Report 2024 - 2031 | Tamko Building Products, Inc., Bayer Material Science LLC

Market Overview:

Roofing coatings are coatings applied on roof surfaces of residential, commercial and industrial buildings to protect them from extreme weather conditions and climate changes. Roofing coatings provide waterproofing and increase the life span of roofs.

Market Dynamics:

The increasing demand for roofing coatings from the construction industry is estimated to drive the growth of the roofing coatings market during the forecast period. The construction industry has witnessed steady growth over the years, especially in emerging economies. According to the Global Construction Perspectives and Oxford Economics, the global construction output is projected to grow by 85% to $15.5 trillion worldwide by 2030, with major contributions from China, US, and India. Additionally, the growing spending on infrastructure development such as roads, bridges, affordable housing, and others is also estimated to boost the demand for roofing coatings during the forecast period. Furthermore, rapid urbanization has resulted in increased construction activities, which in turn is likely to fuel the growth of the global roofing coatings market by 2031.

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Major Drivers for Increased Demand of Roofing Coatings

Rapid Growth in Construction Industry Boosts Demand for Roofing Coatings

The global construction industry has been witnessing strong growth over the past few years driven by rapid urbanization, population growth, and rising investments in infrastructure development projects across both developed and developing economies. The increased construction of both residential and commercial buildings has fueled the demand for various types of roofing materials including asphalt, concrete & clay, metals, plastics, and wood shakes. Since roofing coatings provide critical protection and weather resistance to roof structures, their use has grown significantly along with the booming construction sector. The construction industry outlook remains positive with continued infrastructure spending by various governments, thus acting as a major driver for the roofing coatings market.

Demand for Cool Roof Coatings Rises due to Focus on Energy Efficient Buildings

With growing awareness about reducing energy bills and carbon footprint of buildings, there is increased focus on designing and constructing energy efficient and sustainable structures. Cool roof coatings that reflect heat and sunlight play a vital role in this regard. They help maintain lower indoor temperatures of buildings and save on air conditioning costs. Various governmental regulations and building codes now mandate or promote the use of cool roofs especially in commercial complexes and public infrastructures located in hot climates. This increasing policy push for cool roofs is propelling the sales of cool roof coatings globally.

Major Market Opportunity

Rise of Reroofing Projects Creates Opportunity for Re-Roofing Coatings

While new construction drives a bulk of roofing coatings demand, the re-roofing or replacement of aged and damaged roof surfaces also accounts for a significant share. Most commercial establishments and residential complexes require re-roofing every 10-15 years on an average. The existing aging infrastructure in developed nations is driving a wave of reroofing projects currently. Additionally, damage from extreme weather events has created a backlog of reconstruction work including re-roofing in many parts of the world. This growing aftermarket demand for re-roofing opens lucrative opportunities for specialized coatings suitable for existing roof renovation. Market players can focus on developing cost-effective re-roofing coating systems with easy application features.

Major Market Trend

Rise of Eco-Friendly and Self-Cleaning Coatings Trend to Shape Future Demand

The roofing coatings industry is undergoing notable technological evolution to cater to rising sustainability and performance needs. There is a major shift towards developing innovative eco-friendly coatings based on bio-based, recycled, and waste-stream materials. Another prominent trend is self-cleaning or easy-clean roof coatings which utilize the properties of materials like titanium dioxide to breakdown organic dirt when activated by sunlight. They offer lower maintenance needs. The acceptance of solar roofing materials is also on the rise to tap solar energy. Such cutting-edge product varieties aligning with global green building agendas will define the future consumption patterns in the roofing coatings market. Manufacturers emphasizing advanced formulations, functionality, and recyclability will gain prominence.

Top Companies Featured in This Report:

★ Tamko Building Products Inc.
★ Bayer Material Science LLC
★ 3M Company
★ National Coatings Corp.
★ BASF SE
★ General Coatings
★ Akzo Nobel Coatings Inc.
★ Allied Building Products Corp.

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Market Segmentation:

By Product Type:

★ ply membranes, metal, BUR, polyurethane foam, and bitumen. sunlight, harmful UV rays, sleet, rain

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Why Choose Our Comprehensive Market Report:

• Evaluate numerous aspects of the Roofing Coatings Market outlook through Porter's Five Forces analysis.

• Examine the growth rate and market shares of various product types and applications/end-users within the Roofing Coatings Market.

• Gain insights into the Roofing Coatings Market dynamics across different regions.

• Conduct a thorough Covid-19 Impact Analysis using a robust research methodology.

• Stay updated on the latest developments, market shares, and strategies of key players in the Roofing Coatings Market.

• Delve into a detailed assessment of the market strategies, geographical presence, and business segments of the top players in the Roofing Coatings Market.

• Anticipate key challenges, product advancements, and potential solutions that may influence the market's progress and risks.

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Key Inquiries Addressed in this Report include:

• What was the size of the Roofing Coatings Market in 2024, and what is the projected value by 2030?

• What is the present global market landscape for the Roofing Coatings Market?

• What strategies offer optimal opportunities for growth maximization in the business?

• What recent trends are shaping the Roofing Coatings Market?

• How does the market share of Roofing Coatings Market revenue, sales, and size vary across specific geographical regions?

• Who are the prominent industry players in the Roofing Coatings Market?

• Which segment of the Roofing Coatings Market is experiencing heightened demand?

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