According to the report, the global Roof Coatings iIndustry generated $5.7 billion in 2020, and is anticipated to generate $8.3 billion by 2030, witnessing a CAGR of 3.8% from 2021 to 2030.
Advantages of roof coating in the construction industry and increase in building and construction activities drive the growth of the global roof coatings market. However, disadvantages of asphalt in the construction industry hinder the market growth. On the other hand, factors such as effective solutions for waste management and the use of asphalt promoted by the government in Asia-Pacific present new opportunities in the coming years.
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Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global roof coatings market, owing to the implementation of global lockdown.
- The pandemic had halted the production facilities and disrupted the supply chain. It further hampered the demand for roof coating due to fewer construction activities. This, in turn, hampered the market growth.
- The demand for roof coatings is expected to surge in the coming years. New key players are expected to enter and launch new products. Therefore, post COVID-19 situation of the market is estimated to be positive.
Based on material, the asphalt segment held the highest market share in 2020, accounting for more than two-fifths of the global roof coatings market, and is estimated to maintain its leadership status throughout the forecast period. This is due to its excellent weather resistance performance and competitive features such as durability. However, the metal segment is projected to manifest the highest CAGR of 4.0% from 2021 to 2030, owing to numerous advantages such as solid performance for around of 40 years, excellent fire resistance, interlocking panels for maximum wind resistance, and others.
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Based on technology, the water-based segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global roof coatings market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 4.7% from 2021 to 2030. This is attributed to the increased awareness regarding disadvantages of volatile organic compounds in solvent-based roof coatings, stringent regulations regarding the volatile organic compound in the solvent roof coatings, and others. The report also analyzes the solvent-based segment.
Key Benefits For Stakeholders
- The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
- The roof coatings market size is provided in terms of kilotons and $million.
- A comprehensive analysis of the factors that drive and restrict the roof coatings market growth is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the growth of roof coatings market.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current roof coatings market trends and future estimations from 2021 to 2030, which helps to identify the prevailing market opportunities.
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Leading Market Players: -
- RPM International Inc
- Akzo Nobel N.V.
- BASF SE
- Nippon Paint
- Valspar
- PPG Industries
- The Sherwin-Williams Company
- Hempel A/S
- Graco Inc.
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The roof coatings market is displaying voluminous growth on account of environmental friendliness exhibited coupled with technological updates and spiraling growth rate of construction industry.
Amongst different coatings, bituminous roof coatings are leading in markets with their easy applicability, creep resistance properties and less price structure.
Download FREE Sample Copy Of this Report @ https://www.millioninsights.com/industry-reports/roof-coatings-market/request-sample The major market drivers are:-Growth for roof coatings market looks attractive due to emittance and reflectivity which is driving realty companies to employ them in buildings.
Roof coatings are finally bad conductors of heat and reflect heat thus cooling the interior spaces and decrease load on air-conditioning systems with equivalent cost-savings and energy efficiencies.
Top Key Manufacturers of Roof Coatings market are :-AkzoNobelALLIOSARDEX ENDURAArmstrong ChemicalsBUILDING COMFORTSOther Roof Coatings Market by Product Type:CoatingPaintOther Roof Coatings Market by Applications:HouseholdCommercialOther Geographical Analysis of Roof Coatings Market:- North AmericaEuropeChinaJapanSoutheast AsiaIndia The white coating on the roofs is witnessing increasing sales and hence augurs well for market growth of roof coatings over forecast period.
The advantages of bituminous coatings are high resistance to mechanical shambles and an innate property to cover complex surfaces.
Industry Overview of the Roof Coatings MarketThe Global Roof Coatings Market is witnessing a remarkable growth owing to an increase in the demands for the products and a tremendous shift in consumer preferences.
The high demand is concentrated in the European and North American countries.
The report on Global Roof Coatings Market offers a comprehensive analysis of the recent advancements in the Roof Coatings industry and trends driving the growth of the market.
The report offers the segmentation of the market on the basis of types, applications, and regions.
The impact analysis of the pandemic is described in the report.
Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.The market is further segmented on the basis of types:ElastomericBituminousAcrylicEpoxySiliconeOthersOn the basis of application:CommercialResidentialIndustrialOthersSome of the key players operating in the Roof Coatings market include:Sherwin-Williams, PPG Industries, Valspar Corporation, AkzoNobel NV, RPM International Inc., Nippon Paint Co. Ltd., The Dow Chemical Company, BASF SE, Fletcher Insulation, Hempel A/S, Owens Corning, Lloyd Insulations, GAF, and Heritage Roofing, among others.Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1836Beneficial Aspects of the Report:Global and region forecast of the Roof Coatings market from 2020-2027In-depth analysis of market dynamics, industry outlook, market size based on types and applicationsDetails of value chain analysis, supply and demand ratio, production and consumption patternsSWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive playersDetailed insights on competitive landscape and emerging market trendsResearch Methodology:The market report is formulated on the basis of data obtained through extensive primary and secondary research.
The statistical surveying report on the global Cool Roof Coatings Market has been presented by using professional or expert knowledge through standard and modified research approaches and forecasts.
The yearly forecast and predication for the years 2020 to 2025 have been enclosed by the report along with comprehensive analysis for all market segments and regions.
The statistical data derived from authentic resources and assisted by industry experts.
It likewise assesses the market by evaluating market elements, including drivers, restraints, opportunities, threats, challenges, growth prospects, and other market elements.The global cool roof coatings market report presents a complete research-based study of the industry including details such as company shares, forecast data, in-depth analysis and an outlook of the market on a worldwide platform.
The cool roof coatings industry is highly competitive and consists of several large firms with a global presence and many smaller firms serving local or regional markets.
Of the major players of cool roof coatings, PPG maintained its world’s largest position.
