The groundswell of interest in green construction technologies has been a key aspect for the rising popularity of cool roofs. The drive for these environmental-friendly technologies stemmed from need for reducing overall air temperatures, especially in urban dwellings. Over the past couple decade, designers and architects have been looking for roof coatings that could reduce the emerging consumption of energy in homes. The inclination imparted a robust impetus to their interest in commercializing solar radiation control coatings with an aim to reduce ‘heat islands’ that are marked by drastic temperature changes. Coupled with this, rising peak energy demands and the pressing need for reining over electricity costs are prominent aspects bringing cool roofs as one of the fast emerging green technology. Especially in developed countries, cool roofing techniques has gathered considerable steam for residents and builders alike.
The rising adoption of cool roofs in residential and commercial industries is a key factor boosting the market. According to a projection in a report by Transparency Market Research, the cool roofs market is projected to cross a worth of US$20.7 bn by 2026 end.
Several Benefits stoke Popularity of Cool Roofs
The rapid pace of urbanization in various developing countries across the world is a key trend fueling initiatives toward setting low-carbon economy. Cool roofs in commercial as well as residential buildings have been found to be effective in reducing the emissions of greenhouse gases. The low cost of installation and low maintenance are compelling propositions for the uptake of cool roofs technologies. Several benefits that cool roofs bring to end users are bolstering its uptake. One of the prime concerns of homeowners and residents is the rising utility bills. This is one of the promising motivations for them to demand cool roofs.
Growing focus of architects of commercial buildings toward environmental sustainability through green construction techniques is a notable underpinning to the rapidly rising demand. Furthermore, the demand for cool roofs has received a solid boost from the rising renovation activities in developing and developed countries.
Rapid Pace of Urbanization imparts Significant Cadence to Market
Sizeable prospects are likely to come from the rising demand for green construction materials and techniques in the residential sector. The swift pace of urbanization is a key factor that has fueled the demand. Particularly, this has spurred the demand for cool roofs in high rise buildings in urban spaces, especially in developing regions of Asia Pacific. Various countries including India, China, and Indonesia have populations who are become increasingly aware of the benefits of low-energy, low-cost roofing systems. This is bolstering the demand for cool roofs in these regions. Another developing region such as the Middle East and Africa is expected to hold promising potential in the global cool roofs market.
Meanwhile, developed regions, such as the U.S., have become potentially lucrative in the global cool roofs market. Cool roofs technologies have gained momentum in such countries riding on the back of large benefit of summer cooling savings garnered by building dwellers. Furthermore, the advent of cool roofs of attractive colors and better aesthetic has paved way for new demand dynamics in the market.