The global cool roof coatings market value is expected to reach around US$ 600 million by 2026 and growing at noteworthy CAGR of 7.9 % over the forecast period 2019-2026. The report provides analysis of global Cool Roof Coatings market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Cool roofing technology is a system which optimizes cool roof products by adding new value to existing or newly constructed buildings, whilst simultaneously ensuring all building standards, typologies and technical characteristics adopted by technicians of countries around the globe in various climate zones. Cool roof coats are the organic and inorganic chemicals that reflect, disperse or absorb radiation. These coatings offer a simple way to boost building durability and reduce building owners ' costs. Cool coating lower inner temp 6 ° C to 10 ° C and surface roof temperature up to 60 ° C. Cool coating of the roof.
The energy savings offered by this product may be attributed to demand, coupled with most governments adopting green building codes. Concerns about increased carbon emissions and energy consumption have driven public authorities to implement green building codes for energy efficiency regulation. These regulations propose different practices to reduce energy consumption in commercial and residential buildings. The efficient way to reduce energy consumption in hot climate regions is recognized as cool coat technologies. The Cool Roof Rating Board (CRRC) develops credible and exact methods for evaluating these products ' thermal emission and solar reflectivity. It contributes greatly to the dissemination to interested parties of such methodologies and information. It also standardizes and regulates different toiletries, including coatings. A prominent trend on the market is the move from short-term quick-fixed solutions to cost-effective long-lasting coatings. The life-cycle assessment of cool roof coverings has been studied by property managers and industry. Although less expensive variants help save a few dollars, the unavoidable requirement of recoating is exponentially more expensive in terms of material, labor and time after 3 to 5 years.
Cool roof coverings have become more popular among consumers as air conditioning costs have decreased substantially. The market is expected to gain significant benefits from increasingly inclined consumers to save energy, supported by the government's monetary support in the form of rebates and discounts. High costs of these techniques are, however, projected to remain a market challenge. The quality of the product is mainly dependent on the raw material, which is likely to affect the final product pricing.
Industrial Application Segment to Lead Market Growth
The worldwide market of cool coating roof coatings is divided into residential, commercial and industrial applications. In 2017, the industrial segment was the world's leading cool roofing market. Since the last few years, the demand for environmentally sound products has increased worldwide. The cool roofer-coated technology has begun to reduce their energy consumption in many commercial complexes, such as educational buildings. In the last two years, innovations have allowed sustainable and customized coating solutions to be developed in this sector. The cool roofing market has thus increased.
Depending on the type of cool roofing market the elastomer and IR reflectors have been converted. In the industrial applications elastomeric coatings are commonly used. These layers offer many advantages over IR reflective layers. During the day, they absorb less heat, save annual cooling costs, and reduce building carbon footprint. During the forecast period, the IR reflective segment will grow moderately. Due to its affordability and its simpler nature than elastomeric coats, IR reflective coatings are widely adopted. They are usually used in home applications.
A green technology is cool roof covering. It's not a new concept, however. A study of' solar irradiation control coating' on rooftops was undertaken by the Departments of Energy in California and Tennessee in the eighties. The use of these coatings resulted in a decrease in energy costs. Cool technology of roof coating appeared in California, USA (2001). Rolling blackouts often took place due to high energy demand and inadequate energy supply. In order to reduce energy demand and reduce electric energy costs, cool roof coating techniques had been installed while avoiding future local blackouts. Cool roof coating is an emerging technology used to control buildings ' temperature. Through the sun's reflection and its radiating return to the atmosphere, these coatings prevent heat absorption. These coatings provide an indoor environment that is comfortable and controlled. The market is hindered by customers ' little awareness of cool roof coatings. Governments have nevertheless launched new projects to promote the use of cool roof coverings. In India, for example, the pilot cool roof programs were introduced in 2017 and 2018 by the towns of Ahmedabad and Hyderabad. These initial programs included sensitization campaigns, pilot projects aiming at 3,000 roofs and cool roof techniques in government buildings and schools.
Sloped Roof Segment Dominating the Global Cool Roof Market
Based on the slope of the roof, the global market for cool roof coverings has been turned into a low and steep sloping market. In the cool roof covering market, the low-sloped segment was dominating in 2018. The low-sloping roof segment is expected to continue to be lucrative during the forecast period, as these roofs offer many advantages, such as lower installation costs and less material demand than steep sloping roof. The low inclined roof can not accumulate extra air under the structure of the roof, as is true for the steep inclined roof.
The global market for cool roof coating can be divided into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America on a regional basis. In terms of demand, the main part of the global cool roofing market was held by North America in 2017. Other major consumers of cool roof covering are Asia Pacific and Europe. The Asia-Pacific cool roof market is expected to expand rapidly in the forecast period as the region faces the major global warming issue. Accordingly, China and ASEAN countries have taken steps to promote the use of cool roofs. They subsidize cool roofing manufacturers. In the Middle East and Africa and Latin America, the demand for cool roof coatings is expected to increase significantly. The global demand for the cool roof covering market in these regions was small in 2017. These regions accounted for In the next few years, they are however planned to create profitable possibilities for cool roofing manufacturers.
Global Cool Roof Coatings Market, By Roof Slope
Global Cool Roof Coatings Market, By Type
Global Cool Roof Coatings Market, By Application
Global Cool Roof Coatings Market, By Geography
The market research study on “Cool Roof Coatings Market (By Roof Slope: Low-sloped, Steep-sloped; By Type: Elastomeric, IR Reflective; By Application: Commercial, Residential, Industrial) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Cool Roof Coatings market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The global market is oligopolistic in nature and the market is dominated by few industry participants. Cool coating companies have also integrated their operations via supply and distribution channels. This makes it easy for manufacturers to reach individual consumers, who are the main target groups.
The key role in achieving global market share is expected from fusions and acquisitions. In order to expand its footprint in these areas, Italy and Madison Chemical Industries, Inc., Valspar Corporation acquired ISVA Vernici Srl,. The Dow Chemical Company, KST Coatings (Sherwin-Williams, "Sika Sarnafil, Nutech Paints, Valspar, GAF Materials, Excel Coatings, Monarch Industries are major companies operating on the world market.
Marketing and advertising campaigns were key strategies adopted by different players to increase consumers ' brand awareness. Market participants stress the development of products that are suitable for different environmental conditions. For example, Dow Chemicals has launched an environmentally friendly special color in the Middle East. Similarly, for concrete surfaces, KST Coatings (Sherwin-Williams) launches special IR reflective enamels.