Cool Roof Coatings Market Size Estimated To Reach USD 5.95 Billion By 2026 | CAGR 6.8 %

New York City, 14 Jan 2019: The Cool Roof Coating Market globally is anticipated to reach USD 5.95 billion by 2026 and is forecasted to grow at a CAGR of 6.8 % from 2018 to 2026.

These products are designed specifically for reflection of more sunrays compared to normal coatings along with minimum heat absorption. Owing to its enhanced performance these products gained much of importance as they offer advantages such as less energy bills, longer service life of roofs, and higher comfort indoors.

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These products hep in reducing temperature owing to heat that gets trapped within the buildings. This in turn, results in minimum dependency on energy consuming equipments such as the air conditioners. It also cuts down energy cost along with mitigation of harmful ultraviolet radiation affects and also structural deformations that occur owing to temperature fluctuations.

Several issues concerning greenhouse gas emissions mainly of CO2 and higher energy consumption have boosted the use of cool roof coatings in green buildings in several geographies. Stringent regulations in different countries have led to several practices by the consumers to reduce the consumption of energy in non-residential and residential buildings. Technological advancements of these coatings and launch of several new products led to increasing demand of these products in the recent past.

The industry is segmented on the basis of products that are further segmented into elastomeric and IR reflective ones. The elastomeric ones have found several applications in numerous commercial and industrial applications. These include highly flexible, high-performance, and rubberized coatings. Among these IR reflective ones are projected to witness the highest growt over the forecast period.

Development in materials and manufacturing technology has played a significant role driving product demand. The innovation of novel polymers that possess lower volatile organic compound are projected to further drive the market.

Competitive Landscape and Key Vendors

North America was the largest regional market in 2017. Rising construction of green buildings, consumer awareness for energy efficiency product use, along with favorable regulations are the primary factors driving demand for these products.

Europe is projected to follow North America accounting for the second largest regional market. European Cool Roof Council (ECRC) and Cool Roof Rating Council (CRRC) in Europe and North America respectively are among some organizations that helped shaping the market.

The global cool roof coatings market is highly competitive and is characterized by high degree of integration across the manufacturing stage and distribution. Some of the key reclaimed rubber market players KST Coatings (Sherwin-Williams), DowDupont, Nippon Paints, KST Coatings (Sherwin-Williams), Monarch Industries, Sika Sarnafil, Nutech Paints, Valspar Corporation, GAF Materials, and Excel Coatings.

Read More: https://www.polarismarketresearch.com/industry-analysis/cool-roof-coatings-market/