Global Cool Roof Coating Market: Snapshot
Cool roof coatings have become a notable innovation in the construction sector due to their utility in both enhancing the comfort of the occupants of the building and helping reduce the carbon dioxide emissions necessitated by the building. The global cool roof coatings market is likely to ride the wave of environmentalism in the coming years, as solutions that reduce the environmental impact of a building are likely to become popular in the coming years among various demographics.
Since cool roof coatings minimize the amount of solar radiation absorbed by the roof, it reduces the need for HVAC equipment in order to maintain the temperature within the building. This also leads to significant financial savings in power expenditure, which makes it doubly convenient for the customer. This is likely to be the prime driver for the global cool roof coatings market in the coming years.
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North America and Europe are likely to be the key regional players in the global cool roof coatings market in the coming years due to the steady government support to environmental initiatives in these regions. The widespread mass awareness about the importance of such seemingly small innovations in contributing to the collective regarding environmental conservation is also likely to be crucial for the cool roof coating market in North America and Europe.
Nevertheless, driven by a steady rise in demand in dynamic economies such as India, China, and particularly Japan, Asia Pacific has made rapid strides in the global cool roof coatings market in the last few years and is likely to emerge as a key regional player in the global cool roof coatings market. An increasing number of Asia Pacific nations are likely to enact green building codes in the coming years, which will likely be a key driver for the cool roof coatings market in the region.
Global Cool Roof Coating Market: Overview
The worldwide cool roof coating market is prognosticated to ride on the multiple benefits offered by various cool roof products such as infrared (IR) reflective, elastomeric, steep-sloped, and slow-sloped. A cool roof is able to bring down the surface temperature by approximately 50 degrees as it absorbs lesser sunlight than a regular roofing system. This not only extends the lifespan of the roof but also helps in paring down carbon dioxide emissions that are produced with the use of cooling or heating systems. Apart from benefiting the environment by cutting back energy usage and greenhouses gases, cool roof coating can refine the non-climate-controlled areas of a residential property such as an enclosed porch or a garage.
The global cool roof coating market can be segmented according to parameters such as end use, application, and product. The customizable report offered by TMR Research provides important figures related to the revenue and volume estimates of each segment for different forecast years between 2017 and 2025.
The authors of this report have procured the most vital findings about the global cool roof coating market in connection with the competitive landscape, drivers and restraints, opportunities, and growth prospects.
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Global Cool Roof Coating Market: Trends and Opportunities
Cool coating for roofs is regarded as one of the intelligent techniques of inviting coolness, especially during the hotter climates of the Middle East and Africa, few Asia Pacific countries such as India, and Brazil. The adoption of government standards pertaining to nominal energy consumption in the form of building codes has triggered the progress of the world cool roof coating market. The cool coating technology is one of the effective efforts taken worldwide for controlling the consumption of energy in both commercial and residential sectors. This has also resulted in the regulation of carbon emission. The global market has gained support from different government regulations that require the implementation of cool coating technology. The trend of cautious consumers coupled with a noticeable rise in the cost of air conditioning systems has propelled the demand in the market.
Global Cool Roof Coating Market: Regional Outlook
Thanks to the lower penetration degree in Asia Pacific, the region is pin-pointed by the analysts to exhibit a possible substantial growth in the world cool roof coating market during the forecast period. The enlargement of Asia Pacific is foreseen to rise on the foundation of green building codes that uphold the cool roofing technology. Initially, only Japan had the curiosity to follow the distinct initiatives and guideposts crafted by the government for the adoption of cool roofing technology. However, various other emerging nations such as India, China, and Australia have stepped in of late. This is anticipated to set in motion the regional growth of Asia Pacific.
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North America, on the other hand, could look comparatively promising as it marked a higher share in the recent past and is predicted to showcase its sovereignty between the forecast years. The region could see a successful penetration in the global cool roof coating market on the back of the heightening awareness among consumers about building energy consumption. Additionally, the precocious effectuation of building codes has pushed the penetration of North America furthermore.
The European Cool Roof Council (ECRC) came into existence after the establishment of the Cool Roof Rating Council (CRRC) in the U.S. Functioning on somewhat similar lines of the CRRC, the ECRC has taken strides to curb carbon footprints.
Global Cool Roof Coating Market: Companies Mentioned
With a view to ensure a consistent survival in the oligopolistic cool roof coating market, few of the dominant companies in the industry have taken to product innovation as a decisive strategy. For instance, a special class of IR reflective enamels has been launched by KST Coatings for concrete surfaces. Dow Chemicals has considered the atmosphere of the Middle East to come up with a product that flaunts an exclusive group of cool colors. Besides these, Excel Coatings, GAF Materials, Monarch Industries, Nutech Paints, Nippon Paints, Sika Sarnafil, and Valspar have articulated their presence in the global market.