Global Roofing Coatings Market to Grow Due to Rise in Construction Industry

San Francisco, California, November 28, 2018: The recovery of the global economy from the financial downturn that occurred in the most recent decade is giving a boost to a few enterprises around the world, including development. The extension of the global construction sector is one of the essential elements stirring the development of the global roofing coatings market. As per the report written by the market research firm, titled, “Roofing Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”

Roofing coating solutions are created to deal with extraordinary temperatures and limit their impact inside. They likewise offer security from leakage, help in maintaining a strategic distance from moisture retention, and are stylishly satisfying. The construction business, after a slack period, has seen a sudden ascent because of the rise in investment and thus, has prompted the demand in roofing coating, particularly in BRICS nations.

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The fluctuating raw petroleum costs are restricting coatings obtained from oil based items, prompting a significant move to non-oil based items. In developed countries, for example, the U.S., the administration is taking activities to enhance environmental execution of roofing coating products.

Geography-wise, Asia Pacific is the main market for roofing coating solutions regarding development rate. The demand is surging because of the rise in investment in infrastructure development ventures and number of construction activities. China, Japan, India, South Korea, Taiwan, Singapore, and Thailand come under industrial economies that are encountering fast development in their modern areas, prompting an appeal for framework. Two of the most populated nations of Asia, India and China, are developing quickly. The accessibility of land, cheap labor, supportive regulations and norms when contrasted with different regions have encouraged the popular market players to build up their production offices in Asia.

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Some of the leading market players are 3M Company, BASF SE, Akzo Nobel Coatings Inc., National Coatings Corp., Bayer Material Science LLC, General Coatings, TAMKO Building Products, Inc. Allied Building Products Corp.

Roofing Coatings Market- Fastest Growing Industry foreseen during 2017 – 2025

Global Roofing Coatings Market: Snapshot

The revival of the global economy from the economic downturn that happened in the last decade is providing an upthrust to several industries worldwide, including construction. The expansion of the global construction industry is one of the primary factors stoking the growth of the global roofing coatings market. The construction sector is progressing at a brisk pace in emerging regions such as Asia Pacific, making these regions highly opportunistic marketplace for roofing coatings.

Roof coatings help in maintaining conducive temperatures by eventually cutting down the heat buildup inside residential and commercial spaces. Subsequently, they reduce the dependence on air-conditioning systems, thus saving energy and decreasing pollution. Apart from this, these coatings offer merits such as high emittance and reflectivity. These benefits are impelling construction companies to use them in buildings. The burgeoning uptake of white coatings for roofs of commercial buildings is also anticipated to augment the overall market in the near future. Moreover, the improving scope of application of coil coatings consisting of infrared reflective pigments and the introduction of various shades is likely to augur well for the growth of the market.

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The global market for roofing coatings is marked by intense competitive rivalry. The majority of companies operating in the market are aiming at capitalizing on the immense potential of emerging markets in order to maximize their profits. The leading players are looking upon mergers and acquisitions and product launches as viable strategies for ensuring inorganic growth. Besides this, they are also trying to expand their production units to meet the increasing demands for roofing coatings in emerging economies.

Global Roofing Coating Market: Overview and Trends

Roof coating solutions are developed to combat extreme temperatures and minimize their effect internally. They also offer protection from seepage, help in avoiding absorption of moisture, and are aesthetically pleasing. The construction industry, after a slack period, has seen a sudden rise due to increased investments and in turn, has led to the demand in roofing coating, especially in BRICS countries.

The volatile crude oil prices are limiting coatings derived from petroleum-based products, leading to a substantial shift to non-petroleum-based products. In developed nations such as the U.S., the government is taking initiatives to improve environmental performance of roofing coating products. The United States Environment Protection Agency (US EPA) has launched an Energy Star Roof Program, which specifies guidelines for roofing coatings, especially for reflective coatings.

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Global Roofing Coating Market: Key Segments

Roofing coatings can be divided on the basis of product type into three segments: bituminous roofing coatings, polymer roofing coatings, and reflective roofing coatings. Traditional bituminous roofing coatings are the dominant product type globally, while reflective roofing coatings form the fastest growing product segment.

Polymer roofing coatings can be further divided into five segments, based on the chemicals involved. These are acrylic based, polyurethane based, silicone based, epoxy based, elastomer based, and modified polymer roofing coatings. Reflective roofing coatings – also known as cool roofing coatings – are typically used on glass structures such as greenhouses and factory roofs. Owing to their availability in a variety of colors and several aesthetic properties, roofing coatings are in high demand in the residential market as well.

Roofing coatings can be further classified into residential and commercial sectors based on the end-user market. The residential sector is the dominant segment with a higher share of bituminous coatings due to their lower prices. The commercial sector demand is dominated by polymer roofing coating solutions owing to their wide applicability and performance benefits. On the basis of carrier medium or formulations, the roofing coatings market can be further divided into three segments: water-borne formulations, solvent-borne formulations, and multiple component formulations.

Global Roofing Coating Market: Regional Analysis

Geographically, Asia Pacific is the leading market for roofing coating solutions in terms of growth rate. The demand is high due to the increasing number of construction and infrastructure development projects. China, India, Japan, South Korea, Singapore, Taiwan, and Thailand are industrial economies that are experiencing rapid growth in their industrial sectors, leading to a high demand for infrastructure. Two of the most populated countries of Asia, India and China, are growing rapidly. The rising disposable income and purchase power parity is expected to drive the demand for construction projects and infrastructure development programs, especially residential projects in the expanding urban regions. The availability of cheap labor, land, and lenient norms and regulations against chemicals as compared to other regions have led the market players of repute to establish their production facilities in Asia.

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North America is another major consumer of roofing coatings, especially reflective roofing coatings and polymer roofing coatings. On the other hand, due to the recent economic meltdown, Europe is expected to witness comparatively slower growth.

Global Roofing Coating Market: Key Market Players

BASF SE, 3M Company, Akzo Nobel Coatings Inc., Bayer Material Science LLC, National Coatings Corp., General Coatings, Allied Building Products Corp., and TAMKO Building Products, Inc. are a few of the key market players.

Roofing Coatings Market Driven by Flourishing Construction Sector

San Francisco, California, July 26, 2017 : With escalating population across the world, the housing requirement is escalating, and with that, the construction industry is flourishing and incrementing the demand for roofing coatings that significantly increment the lifespan, according to a recent study by TMR Research. The report, titled “Roofing Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” has been prepared by a group of professional market research analysts, aspiring to serve as a credible business document for specific audiences such as the manufacturers of roofing materials, manufacturers of tiles, roofing metals, and membranes, traders and distributors of roofing materials, and government and regional agencies. The report provides all-inclusive assessment of major factors that will impact the demand for roofing coatings in the near future, estimates the scenario until 2025, segments the market into smaller aspects, and profiles a number leading companies in order to represent the competitive landscape as well as their recent strategic decisions.

Reduction in energy consumption and favorable regulations are some of the key factors driving the global roofing coatings market, whereas the limitations of cool roof coatings is expected to challenge the market from attaining its true potential. Based on product type, the market for roofing coatings can be segmented into bituminous, elastomeric, tiles, metal, and other, whereas technology-wise, the market can be categorized into water-based and solvent based. Application-wise, the market for roofing coatings can be bifurcated into residential, commercial, healthcare, hospitality, education, and others. Based on roof-type, the market can be classified into low sloped, steep sloped, and others. Airless sprayers and brushers and rollers are some of the common equipment used by the vendors of roofing coatings market.

Geographically, the report takes stock of the potential of roofing coatings market in all important regions such as Asia Pacific, North America, Europe, South America, Latin America, and the Middle East and Africa. In the market in current scenario, North America accounts for the maximum demand, recovering well since the economic slowdown. Asia Pacific is also expected to increment the demand for roofing coatings at a healthy rate in the near future, gaining increment demand from the vastly populated emerging economies of India and China.

In the present scenario, the global roofing coatings market is divided among a few leafing companies, including Sherwin-Williams, The Dow Chemical Company, Valspar, Nippon Paints, Sika Sarnafil, Excel Coatings, Monarch Industries, Nutech Paints, and GAF Materials. Product innovation, particularly those who comply with the environment regulations, is the primary mode for these vendors to gain ground over their competitors.