Cool Roof Coating Market Growth Set to Surge Significantly during 2018-2027
The global cool roof coating market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each cool roof coating market player in a comprehensive way. Further, the cool roof coating market report emphasizes the adoption pattern of the cool roof coating across various industries.
Global temperature levels are fluctuating immensely, especially, across metropolitan areas; this effect is termed as urban heat island. In order to curb this situation the foremost remedy is found to be the application of cool roof coatings. Interestingly, cool roof coatings also prove efficient in offsetting strain on electric grids due to escalating demand for cooling and air conditioning which circles around rising living standards.
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According to the U.S. Environmental Protection Agency (EPA), close to 80% of energy conservation within a single-story building can be acquired through its roof. It is further mentioned that for urban spaces, the roofing composes roughly 70% of surface area across all urban settlements. Hence, cool roof coatings can serve a major role towards energy conservation via initiatives planned by local authorities to organize cool roof coating programs around cities. Based on this resourceful Fact.MR report, the cool roof coating market is anticipated to exhibit an impressive CAGR of over 6% during the course of the stated forecast period.
As the report proceeds, readers are offered comprehensive information associated to market bifurcation on the basis of:
- Roof Type
The above mentioned segments linked to the global cool roof coatings market are diligently examined in terms of Y-o-Y growth, revenue (US$ Mn) & volume (MT) comparison and market share comparison. In addition, the presence of other decisive market factors such as pricing analysis, market dynamics together with industry value and supply chain outline this assessment as a systematic research compilation.
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Higher Preference for Elastomeric Plastic Reinforcing Market Growth
On the basis of material type, elastomeric plastic has been continuing to mark its reigning supremacy among other variants in the cool roof coating market. As per researched statistics, 6 in 10 MT of cool roof coatings pursue demand from these roofing materials, with international sales valued at over 400,000 MT in 2018. Furthermore, relative authority of elastomeric plastic based on performance when compared to its counterparts like tiles and metals, continues to strengthen its reign in the global cool roof coating market.
Economic Gain via Cool Roof Coating
As already discussed, cool roof coating provides reduced cooling energy costs together with improved comfort levels by controlling temperature fluctuations within a building. The Cool Roof Rating Council (CRCC) predicts average energy savings from cool roof coating to fall within the range of 7% to 15%, although energy savings differ on the basis of climate and geography. For instance, in the U.S., cool roof coatings have ominously condensed energy costs, as reported by the U.S. Department of Energy. Furthermore, cool roof coating complement occupant comfort, thereby, reducing the need for air conditioners and supporting evident monetary savings for consumers.
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Finally, the research study drops light on the contributions managed by leading players operating in the global cool roof coating market. Few of the prominent manufacturers listed in the report include Sherwin Williams, Valspar Corporation, GAF Materials, Nippon Paints, DowDupont, Akzo Nobel, Excel Coatings and PPG Industries Inc.
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