A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global cool roof coating market. Presenting exclusive insights into the market from 2018 to 2027, the report projects that the market will witness significant growth during the forecast period. Cool roof coating is applied to lower the solar radiation, and protect the surface of the room from various chemical and ultraviolet (UV) rays. In addition to this, some variants of cool roof coating reduce the interior temperature, offer protection to water, and extend the life of the roofing. Elastomeric plastic, tiles, and metals are the key material used for cool roof coating. The growth of the market is primarily attributed to the rising popularity of colored enamels, which is, in turn, increasing the adoption of cool roof coatings in residential applications. In addition, the availability of colored infrared reflective coatings has also propelled the sales of these coatings in the residential segment, which continues to channel a significant amount of revenue.
Increasing Environmental Concerns Invigorate Demand for Cool Roof Coatings
Cool roof coatings use reflective tiles, sheet coverings, and protective coatings to reduce the temperature of roofs and in turn, keep the interiors of the building cooler. They help in reducing the spending on air conditioning, thereby acting as a cheaper alternative to other cooling systems. Cool roof coatings consist of special reflective pigments that repulse sunlight and protect the roof from ultra-violet radiations, water rusting, and other chemical damages. In addition to being cost-effective, cool roof coatings minimize the heat in commercial and residential spaces without relying on air-conditioning, thereby saving energy and lowering the levels of air pollution. Increasing environmental concerns and favorable government policies, such as the National Cooling Action Plan, Repeal and Replace of Green Roof concerning tax benefits, are expected to back the adoption of cool roof coatings through the forecast period. Furthermore, consumers are preferring long-lasting coatings over short-term, quick-fix solutions, owing to economic feasibility. However, the need to re-coat the roofs after a period of three to five years is refraining property managers and industrialists from opting cool roof coatings, thereby posing a challenge to the swift growth of the market. On a positive note, the availability of cheaper variants will help the market overcome the shortcomings.
Government Initiatives Invigorate Revenue of North America
North America is anticipated to remain the most lucrative region for the cool roof coatings market, on the back of high awareness regarding energy consumption, and the implementation of the Leadership in Energy and Environmental Design (LEED) green building certification initiative. On the other hand, Asia Pacific region is expected to flourish, owing to the booming infrastructural activities in emerging economies such as India and China.