Roof Coating Market Insights
The global roof coating market is expected to grow at a significant CAGR over the forecast period. This growth is mainly attributed to rising awareness towards environment friendly roof materials. Government measures such as adoption of green building codes to reduce carbon emissions is also likely to stimulate demand for roof coating.
Increasing adoption of measures to reduce energy consumption in buildings such as cool coating is expected to augment market growth over the coming years.Benefits associated with roof coatings such as the ability to solve roof leaks, seamless nature, increased service life and reduced amount of discarded roofing materialsare anticipated to foster market growth.However, high cost associated with production of roof coating coupled with lack of consumer awareness regarding green buildingsis projected to affect the profitability of market.
Roof Coating Market: Type Insights
On the basis of type, the industry is segmented into bituminous, elastomeric, acrylic, epoxy, and silicone among others. The market for elastomeric coatings is expected to occupy the highest share owing to factors such as high compatibility with all roof structures, resistance to mildew & fungi, superior elastic properties and hard wearing among others.
The market for acrylic coating is projected to grow at a healthy CAGR owing to factors such as improved durability, low cost and availability in a number of colors. The silicone based roof coating segment is anticipated to grow significantly as it resists ponding water for extended periods of time, adheres to most substrates, and is biodegradable.
Roof Coating Market: Substrate Insights
On the basis of substrate, the market is segmented into metal, asphalt, membrane, concrete and plasticamong others. Out of these, metal is anticipated to record the highest growth over the forecast period owing to rising application of elastomeric coating on these substrates to prevent leakage and limit the effects of weathering. The concrete segment is also likely to grow at a healthy CAGR owing to rising application of epoxy coatingson parking decks to withstand pedestrian, vehicular traffic, and road salt.
Roof Coating Market: Roof Type Insights
On the basis of roof type, the industry is segmented into flat, low-sloped, and steep-sloped among others. The step sloped segment is projected to grow significantly in the coming years owing to rising application of roof coating by consumers living in high rainfall and snowfall regions.
The flat roof segment is also likely to record the highest growth on account of rising application of silicone based roof coating on flat roof to provide leak-free protection, improved aesthetic appeal and toimprove sustainability.
Roof Coating Market: Technology Insights
By technology, the industry is segmented intowater based and solvent based coatings. The water basedcoating such as acrylic is anticipated to register a significant growth rate over the forecast period owing to factors such as low cost and less odor.
The solvent based segment is projected to grow at a healthy CAGR due to its durability. Solvent based coatings such as urethane are likely to last longer than water based coatings. However, factors such as high price and flammable nature of these coatings are likely to restraint market growth.
Roof Coating Market: Vertical Insights
On the basis of vertical, the market is segmented into residential and non-residential sectors. The non-residential segment is further segregated into commercial, hospitality and healthcare among others. Out of these, residential segment is anticipated to dominate the market over the forecast period due to availability of colored coatings, suitability to different weather conditions and superior durability of the coatings. The non-residential segment is projected to grow significantly over the years on account of rising safety concerns coupled with adoption of green building codes globally.
Roof Coating Market: Regional Insights
Asia Pacific occupied the largest share of this market since the past few years. This can be attributed to growing residential and non-residential sectors such as hospitals and commercial buildings. Moreover, the rising adoption of green building codes in countries such as India, Japan, and China is also likely to boost market growth.
Roof Coating Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Roof Coating Market:End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase botanical extracts over the coming years. Some leading consumers of this market are Hochtief, Vinci, Balfour Beatty, Royal Bam Group and Laing O’rourke.
Roof Coating Market: Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include BASF SE, The Dow Chemical Company, Akzo Nobel N.V., RPM International Inc., Nippon Paint Holdings Co., Ltd, PPG Industries, Inc., Hempel A/S, Wacker Chemie AG, Sika AG, and The Sherwin-Williams Company.
In January 2018, Icynene U.S. Holding Corp. and Lapolla Industries Inc. announced merging to deliver best-in-class capabilities and services to the Canadian construction market. After the merger, the companies will operate under the nameIcynene-Lapolla, and will continue to manufacture and distribute spray foam polyurethane foam insulation products, roof coating systems, and related equipment.
In January 2018, Kemper System America, Inc. announced its product: Kemperol Reflect 2K-FR Cool Roof system. Along with a Solar Reflectance Index (SRI) of 110, the system includes joint sealant, rigid polyisocyanurate insulation, cement cover board, primer and reflective polyurethane membrane roofing.
The report segments the Roof Coating Market Size on the basis of:
By Type
· Bituminous
· Elastomeric
· Acrylic
· Epoxy
· Silicone
· Others
By Substrate
· Metal
· Asphalt
· Membrane
· Concrete
· Plastic
· Others
By Roof Type
· Flat
· Low-Sloped
· Steep-Sloped
· Others
By Technology
· Water-based
· Solvent-based
By Vertical
· Residential
· Non-Residential (Commercial, Hospitality, Healthcare, Others)
By Region:
· North America
· Europe
· Asia Pacific
· Central & South America
· Middle East & Africa
This article contains text from the ‘Roof Coating Market Size & Analysis — Forecasts To 2025’ report prepared by Global Market Estimates. For more information or to buy the report, please visit: https://www.globalmarketestimates.com/roof-coating-market/
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