The global cool roof coatings market was valued at US$ 294.06 Mn in 2017 and is anticipated to expand at a CAGR of 7.10% from 2018 to 2026, according to a new report titled ‘Cool Roof Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global market is driven by the rise in demand for cool roof coatings in industrial applications such as workshops, warehouses, malls, and IT parks. In terms of production and consumption, North America held significant share of the global cool roof coatings market in 2017.
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Reduction in Energy Consumption
Demand for energy-saving building materials is high across the globe. These materials are used for renovating commercial buildings and new homes. Cool roof coatings provide safe and improved structures and assist in saving energy costs. These roof coatings have high adoption rate as they promote environmental and economic sustainability. Cool roof coating is an attractive market that is gaining momentum in the roofing industry. Cool metal roofs help reduce annual energy costs by 40%. Pre-painted or granular-coated metal roofing systems are preferred for homes in warmer climates, as these reflect solar energy and re-emit most of the absorbed solar radiation. Highly reflective and emissive painted or granular-coated metal roofs are used to lower energy consumption.
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Less Awareness among Consumers Hampering Market
Cool roof coating is a green technology. However, it is not a new concept. In the 1980s, a research was conducted by the Departments of Energy in California and Tennessee to analyze ‘solar radiation control coatings’ on rooftops. It was found that energy costs decreased when these coatings were used. Cool roof coating technologies emerged in 2001 in California in the U.S. Rolling blackouts were occurring frequently due to high demand for energy and insufficient power supply. Cool roof coating techniques were installed to lower the demand for energy and reduce electricity costs, while avoiding future blackouts in the area. Cool roof coating is an emerging technology used for temperature control of buildings.
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Key Players Operating in Cool Roof Coatings Market
The competition in the cool roof coatings market is high in the U.S. due to the presence of large numbers of players producing cool roof coatings in the country. Key players operating in the market include DowDuPont, Akzo Nobel N.V., Nutech Paint, The Valspar Corporation, BASF SE, and Huntsman International LLC.
Global Cool Roof Coatings Market, by Roof Slope
- Low-sloped
- Steep-sloped
Global Cool Roof Coatings Market, by Type
- Elastomeric
- IR Reflective
Global Cool Roof Coatings Market, by Application
- Residential
- Commercial
- Industrial
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