Westford USA, Feb. 26, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, the increasing consumer preference for energy-efficient solutions, combined with the government's favorable tax incentives, is fostering the widespread adoption of green building materials. This trend is expected to significantly boost demand in the years to come in the global cool roof coatings market.
Browse in-depth TOC on the "Cool Roof Coatings Market"
- Pages - 157
- Tables - 61
- Figures – 77
Cool roof coatings offer many advantages, such as cost-effectiveness and high solar reflectivity. Besides this, these coatings can effectively mitigating heat accumulation within commercial and residential buildings. By reducing the need for air conditioning, such coatings contribute to significant energy savings and a consequent reduction in air pollution in the global cool roof coatings market.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 4.43 Billion |
| 2031 Value Projection | USD 8.28 Billion |
| CAGR | 7.20% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Global Cool Roof Coatings Market
- RPM International Inc.
- Nippon Paint Holdings Co., Ltd.
- Dow Chemical Company
- Sika AG
- Asian Paints Ltd.
- Kansai Paint Co., Ltd.
- GAF Materials Corporation
- Arkema Group
- Hempel A/S
- Axalta Coating Systems Ltd.
- The Valspar Corporation
- Jotun Group
- DuluxGroup Limited
- Gaco Western, LLC
- Berger Paints India Limited
- Monarch Industries Limited
- Excel Coatings
- National Coatings Corporation
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Low-Sloped Roof Application Segment has Risen Significantly due to its Significant Cost-Efficiency
Low-sloped roof segment currently holds a dominant position and is anticipated to maintain robust growth rate during the forecast period. This segment's prominence can be attributed to compelling factors such as its significant cost-efficiency in the global cool roof coatings market.
North America has asserted its dominance in the global cool roof coatings market, holding the largest market share at 34.20% in 2022. This trend is expected to persist throughout the forecast period. The region's commanding position can be attributed to critical factors such as its early adoption of stringent construction codes prioritizing energy efficiency and sustainability.
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Steep-Sloped Roof Segment to Dominate Market due to their Increasing Use in Residential Sector
Steep-sloped roof applications are expected to experience the most rapid growth in the global cool roof coatings market over the forecast period. This surge in demand can be attributed to their expanding use in the residential sector, especially in regions prone to heavy snowfall and rainfall. Steep-sloped roofs possess a structural advantage that facilitates the rapid drainage of water, significantly reducing the risk of mold or mildew growth on the roof.
The global cool roof coatings market has recently experienced a surge in demand within Europe, particularly in green building designs. These coatings are increasingly recognized for their remarkable environmental advantages, encompassing extended building lifespan, enhanced energy efficiency, and improved interior quality.
A comprehensive analysis of primary global cool roof coatings market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Global Cool Roof Coatings Market
- In 2023, PPG Industries Inc. announced its latest product, the Cool Roof Reflective Coating. This innovative coating is meticulously designed to effectively reflect heat and sunlight, offering a solution that contributes to reducing energy costs and enhances the overall energy efficiency of buildings. PPG's commitment to sustainability and energy conservation is showcased through this product, catering to the evolving needs of environmentally conscious consumers seeking energy-efficient solutions for their structures.
- In 2023, the Sherwin-Williams Company revealed its strategic move by acquiring Solahart USA, a renowned leader in solar water heaters. This acquisition marks a significant step forward for Sherwin-Williams as it endeavors to broaden its product offerings within the cool roof coatings market.
Key Questions Answered in Global Cool Roof Coatings Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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