Roof Coatings Market By Material (Elastomeric & Plastic, Bituminous, Tiles, Metals, Others), Technology (Water-Based And Solvent-Based), Roof Type (Low Sloped Roof, Steep Sloped Roof, And Others), And Application (Residential, Commercial, Hospitality, Healthcare, And Others).
The global roof coatings market was valued at $951 million in 2016, and is expected to reach $1,680 million by 2023, registering a CAGR of 8.8% from 2017 to 2023. Roof coating is a fluid applied roofing membrane, which is used to regulate the temperature of buildings.
These coatings possess elastic properties, which allow them to stretch and retain its original shape. They are the top layer of composite roof membrane and underlying system.
The growth of the global roof coatings market is driven by surge in cool roof technology and the development of the construction industry. Moreover, increase in construction activities in Asia-Pacific is anticipated to boost the global roof coatings market during the forecast period.
Roof coatings help to reduce the use of air conditioning systems, which in turn helps to minimize pollution and save energy. However, one of the major challenges for the growth of the market is the volatile raw material prices.
Conversely, the development of green technologies is anticipated to provide new opportunities for the key players.
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The global roof coatings market is segmented based on material, technology, roof type, application, and geography. By material, the market is categorized into elastomeric & plastic, bituminous, tiles, metals, and others.
On the basis of technology, it is bifurcated into water-based and solvent-based. According to roof type, it is classified into low sloped roof, steep sloped roof, and others.
As per application, it is divided into residential, commercial, hospitality, healthcare, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global roof coatings market have adopted product launch and expansion as their key strategies to gain significant market share and cater to the growing demands from the developing countries.
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KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current trends and emerging estimations from 2016 to 2023 in the global roof coatings market.
- Competitive intelligence of leading manufacturers & distributors of roof coatings helps in understanding the competitive scenario across geographies.
- Comprehensive analysis of factors that drive and restrain the market growth is provided.
- Extensive analysis of the industry is conducted by following key product positioning and by monitoring the top competitors within the market framework.
- The key players are profiled along with their strategies to determine the competitive outlook of the market.
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