Roof coatings, especially cool roof coatings, are rapidly gaining importance in the global paints and coatings market. Many countries across the globe, primarily developed countries, are focusing on reducing energy consumption due to the skyrocketing electricity costs. The emergence of cool roofing technology has paved the way for saving on power utilization. Various countries are striving to adopt corresponding building energy codes. As a result, producers of roof coatings and related materials such as resins and pigments are focusing on developing cool roof coatings to cater to the energy requirements. These coatings offer several advantages such as high solar reflectivity and emittance. This eventually reduces the heat buildup within residential and commercial spaces and lowers dependence on air-conditioning, thereby saving energy and decreasing air pollution. White coatings, which are primarily acrylic-based materials that are applied on flat commercial roofs on the field itself, are also gaining in importance rapidly. Similarly, coil coatings that contain IR reflective pigments, which are applied on metal roofs, are available in numerous shades. This provides a highly attractive option for residential roofing applications. These coatings that are applied in the production facility are also expected to experience significant growth in the next few years.
Asia Pacific is anticipated to be the fastest growing market for roof coatings in the next few years. This is largely due to increasing demand for roof coatings in emerging countries in Asia such as China, India, Indonesia, Malaysia, and Thailand. Furthermore, countries such as Brazil, Argentina, South Africa, Saudi Arabia, Egypt, and Israel are demonstrating rapid growth in the residential and commercial construction and infrastructure industries since the last few years. There is significant market potential for the construction industry in countries such as China, India, Qatar, Indonesia, Thailand, and Brazil, owing to rapid infrastructure development. Moreover, countries such as Brazil and Qatar are hosting large-scale events such as the Olympics and the FIFA World Cup in the next few years. These countries are also developing numerous state-of-the-art stadiums and other infrastructure for these events. Hence, demand for construction-related products is likely to increase at a notable rate in the next few years, eventually generating a high demand for roof coatings in these emerging nations. Rapid growth in construction and infrastructure industries across the globe, especially in the emerging countries, is anticipated to drive the global roof coatings market in the next few years. Additionally, the U.S. and countries in Europe are steadily recovering from the economic crisis. Developed countries in North America and Europe are also focusing on lowering overall energy consumption and air pollution. Therefore, the global roof coatings market is expected to witness high demand for coatings in the next few years. Major players operating in the paints and coatings market are primarily focusing on developing economies to tap their market potential. These companies are installing extensive production facilities in developing countries to meet the rapidly rising demand for paints and coatings. As a result, the global roof coatings market is projected to experience significant growth in the next six years.
Some of the key players operating in the roof coatings market include 3M, BASF SE, Akzo Nobel N.V., PPG Industries, Inc., Valspar Corporation, and Bayer MaterialScience.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.