VANCOUVER, BC, April 1, 2022 /PRNewswire/ — The global cool roof coating market is projected to reach a market size of USD 6.71 Billion at a steady CAGR of 7.7% in 2028, according to latest analysis by Emergen Research. Market revenue growth can be attributed to emergence of new technologies and booming manufacturing sector in developing economy. In order to reach specific consumers, firms are focused on integrating their operations across supply and distribution networks of cool roof coating market. Manufacturers are becoming more willing to invest significantly in R&D operations and depending on technological advancements to get a strategic advantage through product differentiation and low-cost products.
However, high production costs connected with cool roof coating, and also shortage of qualified manpower and consumer awareness about the product, have been some of the economy restraints.
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Key Highlights from the Report
- In October 2020, Nippon Paint Holdings Co. Ltd. announced consolidation of its automotive businesses in U.S. Nippon Paint Automotive Americas Inc. will be formed by merging NPA Coatings Inc., NB Coatings Inc., and NPAA Chattanooga into a single entity (NPAA). The combination will result in a single-source solution for pretreatment, electrocoat (e-coat), body paint, and paint-on-plastic product lines tailored to the automotive coatings market.
- Structural advantage of shedding water quickly and reducing possibility of mold or mildew propagation on the roof, steep-sloped roofs require less maintenance, resulting in lesser penetration of coating products. Increasing utilization of cool roof coating in residential sector, due to cumulative snowfall and rainfall, it is predicted to develop at fastest rate.
- Cool roof coating is related to environmental material technology that bears down 90% of infrared and 85% of Ultraviolet (UV) rays, strengthening its performance, longevity and providing an effective solution for solar heat insulation demands in commercial and industrial sectors.
- Asia Pacific is expected to expand at a rapid CAGR during the forecast period. Increasing government initiatives to promote green infrastructure and rising construction industry in emerging countries such as China, India and Japan are factors expected to contribute to growth of cool roof coating market in the region.
- Major companies in this market report include The Dow Chemical Company, Sika Sarnafil, Nutech Paints, KST Coatings, Nippon Paints Holdings Co. Ltd., Wacker Chemie AG, PPG Industries, Inc., Monarch Industries, Sherwin-Williams, and GAF Materials
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Emergen Research has segmented the global cool roof coating market on basis of technology, application, product, end-use, and region:
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Water Based
- Solvent Based
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Product Outlook (Revenue, USD Billion; 2018–2028)
- IR Reflective/Colored
- End-use Outlook (Revenue, USD Billion; 2018–2028)
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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