The cool roof coatings market is estimated at USD 4.5 Billion in 2022 and is projected to reach USD 8.3 Billion by 2032, growing at a CAGR of 6.8% from 2022-2032.
Upsurge in the adoption of green building codes by developed and developing countries across the globe is anticipated to propel the cool roof coatings demand. Growing concern towards energy consumption and carbon emission encourages governments to support green buildings establishments. The affirmation factor is anticipated to open up the market for cool roof coatings over the forecast period.
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Cool roof coatings Market Key Segments
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By Roof Type
- Low-slope type
- Steep-slope type
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By Material Type
- Elastomeric Plastic
- Silicon
- Tiles
- Metals
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By Technology
- Water-based
- Solvent-based
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By Application
- Residential
- Commercial
- Hospitality
- Healthcare
Competitive landscape
Cool roof coatings market competitive landscape shows top manufacturers including Sherwin Williams, Valspar Corporation, Nippon Paints, Monarch Industries, GAF Materials, DowDupont, Nutech Paints, Excel Coatings, PPG Industries Inc., Akzo Nobel, Sika AG, BASF SE, Asian Paints Ltd., National, Coating Corporation and Kansai Paints Co. Ltd.
Revenues of the cool roof coating market will remain clustered among Tier 2 players, who currently account for over 50% of overall cool roof coating sales worldwide.
These cool roof coating manufacturers including Nutech Coatings, and Kansai Paints Co. Ltd, have consolidated their position in Asia-Pacific and Europe. Advertisements and marketing campaigns are key expansion strategies of the Tier 2 players, for creating brand awareness among end-users.