The global cool roof coatings market demand is anticipated to reach 78.5 million liters by 2025, expanding at a CAGR of 7.4% from 2018 to 2025
By application, the slow-sloped segment dominated the global cool roof coatings market with a share of over 60.0% in 2017
North America is projected to exhibit a strong volume-based CAGR of 7.6% over the forecast period, 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
Some of the key companies in the industry are The Dow Chemical Company, KST Coatings, Valspar Corp., Sika Sarnafil, Nippon Paints, Monarch Industries, and Nutech Paints.
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.
Favorable regulations and government support in the form of tax benefits and financial incentives are expected to propel product demand. Increasing awareness regarding energy savings as well as environmental benefits offered by cool enamels will play a vital role in market expansion. However, limitations associated with long-term durability of such coatings owing to usage of titanium dioxide as a critical ingredient is projected to remain a key challenge for market players.
Advent of new polymers and resins with lower volatile organic compound (VOC) ratings are likely to contribute to product demand as an eco-friendly choice. Increasing efforts to reduce VOC limits in different geographies is expected to create ample opportunities for cool roof coatings as an alternative to meet stringent regulations.
Manufacturers are focused on development of new technologies to enhance UV resistance of these coatings. Introduction of microcells and nanotechnology for reducing heat flux and increasing energy conservation is projected to drive demand for cool roof coatings over the forecast period.
Grand View Research has segmented the global cool roof coatings market report on the basis of product, application, end use, and region:
Cool Roof Coatings Product Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014 - 2025)
Cool Roof Coatings Application Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014 - 2025)
Cool Roof Coatings End-use Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014 - 2025)
Cool Roof Coatings Regional Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014 - 2025)
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