Cool roof coatings are a combination of organic and inorganic chemistry which reflect, scatter, or absorb radiation. These coatings are a simple solution to increase building endurance and save cost for building owners. Cool roof coatings reduce interior temperature by six degrees to 10 degrees and roof surface temperature by up to 60 degrees. Cool roof coatings also help reduce the size of the original air conditioner design systems and extends the life of roofing systems. Moreover, usage of these coatings is easier as compared to other alternatives.
Cool Roof Coatings Market: Segmentation
Based on type, the global cool roof coatings market can be classified into elastomeric and IR reflective (Infrared Radiation). IR reflective coatings have an attractive esthetic appeal, which is expected to boost the global cool roof coatings market. IR reflective coatings have higher demand despite their low reflectivity index. Elastomeric coatings are extensively used for flat roof buildings, especially in industrial and commercial constructions. In terms of application, the cool roof coatings market can be bifurcated into slow-sloped and steep-sloped. Most homes, especially in regions with high rainfall and snowfall, have steep-sloped roofs. Initially elastomeric coatings were available only in white color, while IR reflective coatings were available in various colors. Individual house owners in regions with high rainfall and snowfall have started using colored IR reflective coatings for steep-sloped roofs. Resulting in growth for steep-sloped roofs over the forecast period. In terms of end-use, the cool roof coatings market can be segmented into residential, commercial, and industrial. The residential segment is anticipated to expand significantly during the forecast period. Individual house owners are attracted to colored IR reflective coatings due to their availability. Rise in popularity of colored IR reflective coatings and increase in adoption of green building codes in developing countries are expected to increase the use of cool roof coatings for residential applications.
Cool Roof Coatings Market: Overview
Adoption of building codes stating minimal energy consumption standards in the U.S. and in countries in Europe drives the cool roof coatings market. Application of cool roof coatings is a practical and efficient way of reducing energy consumption in regions with hot weather. Substantial reduction in air conditioning cost has increased the popularity of cool roof coatings. However, these coatings are costly. This is expected to inhibit the cool roof coatings market. Lack of consumer awareness regarding green buildings, and underdeveloped countries is expected to restrain the cool roof coatings market during the forecast period.
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Cool Roof Coatings Market: Regional Outlook
Based on region, the global cool roof coatings can be segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa. The cool roof coatings market in Asia Pacific is expected to expand at considerable pace during the forecast period. Green building codes are being implemented in Australia, China, India, and other developing countries in this region. This is expected to propel the cool roof coatings market during the forecast period. North America accounts for a dominant share of the market. Building codes and high awareness regarding building energy consumption among consumers boosts the market in North America.
Cool Roof Coatings Market: Key Players
The key players in global cool roof coatings market include Nutech Paint, Huntsman International LLC., The Valspar Corporation, Nippon Paint, PPG Industries, Inc., Sika Sarnafil, Monarch Industrial Products (I) Pvt Ltd, and EXCEL COATINGS
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