Cool Roof Coatings Market

Cool Roof Coatings Market was valued at USD 4615.3 Million in 2021 and expected to reach USD 7401.5 Million by 2028 with the CAGR of 6.98% over the forecast period.   

Global Cool Roof Coatings Market: Global Size, Trends, Competitive, and Historical& Forecast Analysis, 2022-2028- Rising awareness regarding energy consumption & global warming, growing adoption of green building codes by emerging economies and increasing growth of industrial & commercial sectors are some of the major factors contributing to the growth of Global Cool Roof Coatings Market.

Scope of Global Cool Roof Coatings Market Report-

Cool roof coatings are a blend of organic and inorganic chemistry that reflect, disperse, or absorbs radiation. These coatings propose a simple solution for increment building perseverance and saving costs for building owners. Cool roof coatings decrease inside temperature by 6°C to 10°C and rooftop surface temperature by up to 60°C. They help with shielding roofs from degradation through weathering, diminish maintenance necessities, and expand the life of roofing systems. These kind of coatings are widely utilized in different business, industrial, and residential structures, as they give security against harsh climatic circumstances. These coatings assume a fundamental part in factories, residential units, warehouses, and commercial building units. Cool roof coating delivers not only higher solar reflectance but also higher thermal emittance. Cool roof coating offer many benefits such as minimum surface preparation needed, available as ready to use, high solar reflectance index (SRI) indicates a high degree of cooling effect, crack-bridging, high resistance to chloride penetration, fungi resistant, highly flexible and vapor permeable.

The Covid-19 pandemic has shown a negative impact on the growth of the global cool roof coating market. The outbreak of Covid-19 stopped the construction exercises all over the planet which essentially hampered the material cool roof market. The pandemic halted the production facilities and upset the supply network. It further hampered the demand for cool rooftop covering because of fewer construction exercises. However, the demand for cool roof coatings is supposed to surge in the coming years because new market players are supposed to enter and launch new items. Subsequently, the post-Covid-19 circumstance of the market is assessed to be positive.

The cool roof coatings market is segmented based on its roof type, material type, technology, application, and region & country level. Based on the roof type, the market is divided into low-slope and steep-slope. Based on the material type, the market is divided into elastomeric and IR reflectors. Based on the technology type, the market is divided into water-based, and solvent-based. Based on the application, the market is divided into residential, commercial, hospitality, and healthcare.

The regions covered in this global cool roof coatings market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of global cool roof coatings is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players of Global Cool Roof Coatings Market Report–

• 3M
• AnCatt
• BASF SE
• Debiotech SA.
• Dow Inc
• Excel Coatings
• GAF Materials Corporation
• Huntsman International LLC
• Monarch Industries, Inc.
• Nippon Paint Holdings Co. Ltd.
• Nutech Paint
• PPG Industries, Inc.
• Protexion LLP
• Research Frontiers, Inc.
• Shenzhen Corporation
• Shouguang Fengyuan Commercial Co., Ltd.
• Sika Sarnafil
• Sherwin-Williams Co.
• Valspar Corporation
• Weifang Hongxin Waterproof Material Co., Ltd.
• Others

Global Cool Roof Coatings Market Segmentation:

By Coating

• Acrylic Coatings
• Silicone Coatings
• Polyurethane Coatings
• Others

By Substrate

• Asphalt
• Metal
• Bitumen
• Plastic
• Wood

By Material

• Elastomeric 
• IR Reflector

By Technology

• Water-Based
• Solvent-Based

By Roof Type

• Flat Roof
• Slope Roof
• High Temperature Roof

By End-User

• Residential Structure
• Commercial Structure
• Hospitality
• Healthcare
• Industrial
• Others

Global Cool Roof Coatings Market Dynamics–

One of the major factors driving the growth of the global cool roof coatings market is rising awareness regarding energy consumption & global warming. Expansion in global warming and the rise in energy consumption have constrained government authorities to execute green building regulations in the development of commercial and residential buildings. Governments of developing and developed nations are empowering residents (through incentives) to supplant their current rooftops with energy-efficient ones. Homeowners who have put resources into energy-effective roofing systems can exploit tax reductions. The roofing industry is projected to grow moderately in emerging economies during the forecast period because of government help as endowments and tax benefits for construction exercises. For example; the U.S. Government gives 10% exception on federal tax if Energy Star ensured metal and asphalt roofs with pigmented coatings are introduced to cool granules. This is supposed to drive the cool rooftop coatings market across the globe.

In addition, growing adoption of green building codes by emerging economies is also supplementing the market growth. The demand for energy-saving structure materials is increasing. These materials are utilized to remodel commercial buildings and new homes. Cool rooftop coatings give secure and further developed structures. They likewise advance economic and environmental supportability. Cool rooftop covering is a rewarding segment of the building materials market that is picking up speed in the roofing business. Cool metal rooftops help with bringing down yearly energy costs by 40%. Pre-painted or granular-coated metal roofing systems are liked for homes in warmer environments, as these reflect sun-based energy and once again re-emit the majority of the absorbed solar radiation. For instance; according to American Coatings Association; when rooftops coated with cool roof coatings roofs can reflect the sun's hot rays and absorb 80% less than traditional dark-colored roofs, also cool roof-coated rooftops cool and help to lower indoor temperatures by up to 30% on hot summer season. 

Furthermore, increasing growth of industrial & commercial sectors are also fostering the demand for cool roof coatings. Cool roof coatings can prevent the structure from deformation caused by severe temperature and reduce the heat built up in the structure. This coating reduces the need for air conditioning and reduces energy costs. In addition, structural deformations occurring due to variation in temperature and the damage caused by harmful UV radiations too can be mitigated by cool roof coatings. Expanding penetration of low-sloped roofing systems is basically determined by the developing concern in regards to the significance of green building construction in both industrial and commercial regions. Hence the demand for cool roof coating in industrial & commercial sectors is increased. For example; according to the U.S. Department of energy, the cool roof coating is reflecting a minimum of 0.70 UV sunrays and decreases the 11 to 16 % temperature of a building and it bringing down the amount of air conditioning needed in the building. 

However, rules & regulations by different government authorities and the high cost of cool roof coating may hamper the global cool roof coating market growth. In spite of that, increasing the use of energy-efficient technologies can provide various opportunities for the further growth of the global cool roof coating market.

News-

New Smart-Roof Coating Enables Year-Round Energy Savings

On December 16th, 2021; Berkeley Lab’s Materials Sciences Division and a UC Berkeley professor of materials science and engineering scientist found new smart roof coating material. This coating material is known as a temperature-adaptive radiative coating (TARC). TARC has an all-season smart roof coating that keeps the home warm during the winter and cools during the summer without consuming natural gas or electricity. TARC can automatically switch from keeping the surface of the roof or walls cool to warm or warm to cool it depending on the outdoor temperature. TARC gives different facilities in one device such as materials are energy-free, emission-free air conditioning, and heating.

Nouryon Launched Elastomeric Cool Roof Coatings Solution 

On May 6th, 2020; Nouryon launched another solution for the building and construction market that helps the viability of energy-saving """"""""cool roof """""""" coatings by working on their ability to reflect light and upgrading their self-cleaning properties. The new idea joins Nouryon's Expancel expandable thermoplastic microspheres, which reflect light, and its Levasil colloidal silica, which works on the presentation of the coatings. When delivered with Nouryon's Expancel microspheres, cool roof coatings can cut down the outer surface temperature of a building by as much as 15 degrees Celsius.

Global Cool Roof Coatings Market Regional Analysis–

Geographically, North America is expected to dominate the cool roof coating market due to the growing demand for energy-efficient building materials, increasing construction activities, and rising government initiatives aimed at promoting the utilization of energy-efficient technologies in this region. Growing demand for energy-efficient building materials drives the cool roof coating market. The increasing preference of customers toward energy savings and favorable government policies regarding tax benefits encourages the usage of green building materials. For instance, as per the U.S. Environmental Protection Agency (EPA), nearly 80% of energy conservation in single-story buildings can be obtained through cool roof coating. In addition, the construction rate is high owing to the high demand for residential, non-residential, and commercial construction projects propelling the growth of the cool roof coating market across the region. For example; according to U.S. Census Bureau, the cost is US$1,740.6 billion to spend on construction in April 2022 but in March 2022 it spends US$1,744.8 billion. Also, April 2022 construction figure is 12.3% increased than April 2021.

Europe is the second dominating region due to the increasing demand for research and development as well as the rising competitive landscape in this region. For example; in May 2020, Nouryon launched a new product such as elastomeric cool roof coating. This coating can bring down the external surface temperature of a building by 15 degrees Celsius.  Therefore, increasing demand in the cool roof coating market in the Europe region.

On Special Requirement Cool Roof Coatings Market Report is also available for below region:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 4615.3 Million
Base year considered	2021
Forecast Period CAGR %:	6.98%
Market Size Expected in 2028:	USD 7401.5 Million
Tables, Charts & Figures:	175
Pages	200
Cool Roof Coatings Comapnies	3M, AnCatt, BASF SE, Debiotech SA., Dow Inc, Excel Coatings, GAF Materials Corporation, Huntsman International LLC, Monarch Industries Inc., Nippon Paint Holdings Co. Ltd., Nutech Paint, PPG Industries Inc., Protexion LLP, Research Frontiers Inc., Shenzhen Corporation, Shouguang Fengyuan Commercial Co. Ltd., Sika Sarnafil, Sherwin-Williams Co., Valspar Corporation, Weifang Hongxin Waterproof Material Co. Ltd., Others.
Segments Covered	By Coating, By Substrate, By Material, By Roof Type, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits of Global Cool Roof Coatings Market Report–

• Global Cool Roof Coatings Market report covers in depth historical and forecast analysis.
• Global Cool Roof Coatings Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Cool Roof Coatings Market report helps to identify opportunities in marketplace.
• Global Cool Roof Coatings Market report covers extensive analysis of emerging trends and competitive landscape.