Dublin, May 06, 2022 (GLOBE NEWSWIRE) -- The "Roof Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global roof coatings market reached a value of US$ 3.32 billion in 2021. Looking forward, the market is projected to reach a value of US$ 4.16 billion by 2027, exhibiting a CAGR of 3.60% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
Roof coatings refer to monolithic, elastomeric, fluid applied roofing membranes that are widely installed for eliminating damages caused by water, heat and ultraviolet (UV) radiations. At present, they are commercially available in varying types, such as acrylic, elastomeric, silicone, plastic and cool.
These coatings aid in reducing the risk of roof leaks, ensuring thermal stability, and maintaining the temperature of the structure, thereby extending the shelf life of the roof. On account of these properties, roof coatings find extensive applications across various sectors.
Roof Coatings Market Trends
One of the key factors driving the market growth is the widespread adoption of roof coatings across the residential, commercial, healthcare, hospitality, and public sectors, for eradicating damage caused by heavy rains and heat. In line with this, the favorable initiatives undertaken by the government bodies of various countries for promoting the usage of green coatings in infrastructures for mitigating greenhouse gas (GHG) emissions are catalyzing the market growth.
This is further supported by the increasing consumer consciousness regarding the sustainable properties of these roof coatings that consume lesser energy as compared to their conventional counterparts, which is acting as another major growth-inducing factor.
Moreover, the rising commercial building activities across the globe, along with escalating population and evolving lifestyle is, providing an impetus to the market growth. The extensive utilization of volatile organic compounds (VOCs) in the paint roof coatings for the protection from weathering, chemical reaction, ageing and oxidation is considerably contributing to the market growth.
Other factors, such as strategic collaborations between top players and the increasing investments in the research and development (R&D) activities for introducing advanced coatings materials to protect from the torrid heat, are creating a positive outlook for the market.
Key Questions Answered in This Report
- How has the global roof coatings market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global roof coatings market?
- What are the key regional markets?
- What is the breakup of the market based on the roof type?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the End-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global roof coatings market and who are the key players?
- What is the degree of competition in the industry?
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Akzo Nobel N.V.
- BASF SE
- Covestro AG
- Dow Inc.
- Hempel A/S
- Huntsman International LLC
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- RPM International Inc.
- Sika AG
- The Sherwin-Williams Company
- Wacker Chemie AG
Key Market Segmentation
Breakup by Roof Type:
- Low Sloped Roof
- Steep Sloped Roof
- Others
Breakup by Material:
- Elastomeric
- Bituminous
- Acrylic
- Epoxy
- Silicone
- Others
Breakup by Technology:
- Water-based
- Solvent-based
Breakup by End-user:
- Residential
- Commercial
- Hospitality
- Healthcare
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/yez10u
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