Cool Paving Materials Market: Overview
Cool paving materials are ideally used for constructing walkways and roads. Dark pavements absorb 80% to 95% of heat and contribute to global warming by radiating heat into the atmosphere. Cool paving materials reduce urban temperature and make cities more comfortable during hot weather conditions. Urban temperature is higher than that in the rural areas across the globe due to high heat release from traffic and air conditioning systems. Solar reflective cool pavements are more than conventional pavements and aid in lowering urban temperatures. For instance, in 2014, City Park in Greece installed cool pavements, which reduced the ambient temperature by 1.9°C and surface temperature by 12°C.
Cool paving materials offer more benefits than the traditional materials. Cool paving materials reduce outside air temperature which further aid in energy saving by allowing air conditioning units to utilize less energy for cooling buildings. It helps improve air quality by reducing the formation of smog and lowering the electricity requirement for street lighting at night, thereby providing better visibility for drivers due to its light color and better reflectivity. Cool pavement materials also reduce power plant emissions by reducing greenhouse gas (GHG) and other air pollutant emissions. These factors are projected to boost the cool paving materials market during the forecast period.
Cool Paving Materials Market: Key Segments
Based on type, the global cool paving materials market can be segmented into Portland cement concrete (PCC) paving, white-topping, asphalt emulsion sealcoats, asphalt slurry seals, asphalt slurry coatings, and resin modified emulsion pavement. PCC paving is a light-colored paving material and has high reflectivity. It is used for construction and re-construction activities. White-topping is a fiber-reinforced concrete ideally used on asphalt surfaces. Asphalt emulsion sealcoats are composed of fine aggregates and binder which are used to seal cracks.
Rising demand for energy efficient building materials with high pavement surface reflectance, thermal emittance, and surface convection with low thermal conductivity is propelling the global cool paving materials market. Cool paving materials require more energy for production than conventional paving materials, which is likely to restrain the cool paving materials market during the forecast period. Increasing research activities in the field of concrete-based cooling materials with features such as low energy requirement is expected to create lucrative opportunities for the cool paving materials market players engaged in the production of cool paving materials.
Cool Paving Materials Market: Regional Outlook
In terms of region, the global cool paving materials market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is a leading consumer of cool paving materials, followed by Europe and Asia Pacific. Rising demand for Leadership in Energy and Environmental Design (LEED) certified buildings, especially in the U.S., Germany, and the U.K., is expected to drive the demand for cool paving materials market during the forecast period. Additionally, surge in demand for reflective pavements for roads with enhanced visibility in night typically in Europe expected to boost the demand for cool paving materials in the region. In Asia Pacific, China, India, and ASEAN countries are major consumers of cool paving materials. Rise in global warming in Beijing, China, increase in requirement for good road infrastructure in India, and surge in maintenance and reconstruction activities of roads across countries such as Malaysia and Vietnam are propelling the demand for cool paving materials in Asia Pacific. The cool paving materials market in Latin America and Middle East & Africa is projected to expand at a moderate pace during the forecast period. Rise in product awareness and increase in emphasis on constructing energy efficient building are expected to boost the cool paving materials market in these regions.
Cool Paving Materials Market: Key Players
Key players operating in the global cool paving materials market include Barrett Paving Materials Inc., GAF, Unique Paving Materials Corporation, and Hanover Architectural Products.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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