Author: Vikas Kumar
17 May 2022
The global cool roof coating market is likely to showcase a growth of around 7% during the forecast period. According to the US Department of Energy, the conventional roof can reach temperatures of 150°F or more in summer. Under the same conditions, a reflective roof could stay more than 50°F cooler. This large difference created by the roof cooling solutions provides a better interior environment by lowering the flow of heat from the roof to the occupied space. Also, helps in saving energy and money in buildings with air conditioners, thereby increasingly attracting the consumers towards the cool roof coatings solutions.
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A large number of roofs across the globe are dark in color therefore in the summertime, the temperature of the dark or black color roofs can go to 150°F or more. This heat increase can contribute to increased cooling energy use and high utility bills, higher peak electricity demand thereby raising electricity production costs and a potentially overburdened power grid, uncomfortable indoor environment, can increase air pollution due to the intensification of the heat island effect, speed up the deterioration of roofing materials, and increased roof maintenance costs. Therefore, to reduce the aforementioned factors, building owners are using various types of roof cooling solutions including coating solutions. This coating solution has high reflectance and high thermal emittance properties, thereby promoting cooling in buildings. As this coating is easy to apply just like wall paints & coatings, thereby consumers are finding it easy to use and economically convenient over its counter product.
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Based on type, the market is categorized into acrylic, silicone, polyurethane, and others. Among these, the silicone category accounted for a significant share in the market and is likely to showcase substantial growth over the forecast period. This can be attributed to its superior UV stability and resistance to ponding water. Further, they are less susceptible to colder temperatures and therefore have broader application settings than acrylic coatings
Also, the market for acrylic-based cool roof coating would witness growth owing to its less cost which can be a key factor in the residential sector. Further, increasing demand for waterborne coating owing to the hazardous effect of volatile organic compound (VOC) in case of solvent-based products, is likely to promote the growth.
Based on application, the market is categorized into commercial, residential, and industrial. Among these, the industrial segment captured a significant share of the market. As the industrial sector requires a large amount of energy, therefore, using roof coatings solutions aids in reducing the overall electricity expenditure. Further, to promote energy efficiency, the industrial sector is increasingly inclining toward cooling solutions including cool roofs
Further, the residential segment is likely to showcase substantial growth over the forecast period, as the sector is witnessing a number of investments in green buildings and increasing adoption of green building codes in emerging economies.
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For a better understanding of the market adoption of Cool Roof Coating, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America accounted for a prominent share in the market owing to government initiatives to promote green building and rising awareness among the consumers regarding the benefits of cool roofs.
Global Cool Roof Coating Market Segmentation
Market Insight, by Type
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
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