The rise in construction activities across the globe has promoted the growth of the roofing coating market during the assessment period of 2017-2025. The developing economies are focusing their attention on redevelopment and construction activities owing to the need to strengthen the public infrastructure. Rapid industrialization coupled with urbanization has led to the massive growth of construction activities due to the increasing migrated population.
Roofing coating offers conducive temperature to the commercial and residential spaces due to the growing requirement to regulate heat. The benefits attached to roofing cooling are that it maintains the cool temperature in the residential and commercial spaces and minimizes the dependence on air conditioners. Apart from this, they also provide high emittance and reflectivity which ultimately contributes in saving a huge amount of energy required to operate air conditioners. The savings in terms of energy and expenses has augmented the growth of the roofing coating market.
Strategic Moves to Fuel Growth of Roofing Coating Market
The roofing coating solutions cater to environmental concerns by reducing the impact of carbon footprints. The investors are focusing on making huge investments in various segments of the roofing coating market to expand their market reach. The key players are focusing on R&D activities to innovate new formulations to enhance the performance of the roofing coating materials. The key players are aiming at speeding up the manufacturing process to meet the rising demands. The potential market for roofing coating has attracted the attention of many investors. Furthermore, the key players are paving their way through the cut-throat-competition to sustain their dominance in the roofing coating market. The hiking prices of crude oil have compelled the players to focus on the use of non-petroleum based products for roofing coating. The players are formulating new strategies to maintain their market dominance. They are joining hands with mergers & acquisitions to stand out in the terms of quality and features. All these aspects have propelled the growth of the roofing coating market.