The Roof Coating Market size is estimated to grow from USD 1.63 billion in 2017 to USD 1.94 billion by 2022, at a CAGR of 3.48%. It is projected to witness significant growth over the next few years due to advancements in technology and the high efficiency of roof coating products. Growth in demand in roof coating is attributed to the increasing need for efficient building thermal management and growing awareness about environment-friendly roofing materials. The Roof Moating Market has immense opportunities owing to the emergence of new technologies and growing construction industry in emerging economies.
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The global market for roof coating market is dominated by players such as BASF SE (Germany), Akzo Nobel N.V. (Netherlands), RPM International Inc. (US), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Hempel A/S (Denmark), The Dow Chemical Company (US), Wacker Chemie AG (Germany), Sika AG (Switzerland), and Nippon Paint Holdings Co., Ltd (Japan).
Target Audience
- Roof coating material producers
- Raw material producers and suppliers
- Roof coating distributors and traders
- End-use sectors
- Governments and R&D institutions
- Market research and consulting firms
- Associations and industry bodies
On the basis of type, the roof coating market is segmented into elastomeric, bituminous, acrylic, epoxy, silicone, and others which include polyvinylidene fluoride, modified silane-based coating, and polyuratene. The elastomeric segment is projected to grow at the highest CAGR from 2017 to 2022. The dominant market position of the elastomeric coating segment can be attributed to its compatibility with almost all types of roof structures. Elastomeric roof coatings have superior elastic properties and are hard-wearing in cold as well as warm areas; these coatings expand in warm weather when the roof expands and contract when the roof contracts in cold weather. Moreover, elastomeric roof coating is resistant to fungi and mildew, which cause damage to roofs with time.
North American region accounted for the largest share of the global roof coating market. However, as the roof coating market in developed countries is maturing, the Asia Pacific market particularly the developing markets in countries such as China and India is projected to grow at the highest rate from 2017 to 2022. Asia Pacific is a hub for foreign investments and booming residential & non-residential construction sectors, largely due to the low-cost labor and cheap availability of land. The increase in demand for roof coating can largely be attributed to the rising population of the region with high disposable incomes and the construction opportunities in this region. Moreover, increasing demand for sustainable & eco-friendly construction drives the roof coating market in the region.
Premium Insights of Study
• Developing Economies to Register High Growth in Demand for Roof Coating
• Roof Coating Market, By Substrate
• Roof Coating Market, By Type & Region
• Roof Coating Market, By End-Use Sector & Region, 2017
• Asia Pacific: Roof Coating Market, By Type & Country
• Roof Coating Market: Regional Snapshot
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