Roof Coatings Market 2020 business opportunities investments growth analysis company profiles and forecast to 2027
Research Reports
Mar 28, 2022
Roof Coatings Market Scope
Market Research Future (MRFR) expects the roof coatings market to soar at a strong growth rate between 2020 and 2027, as construction and restoration activities surge worldwide.
Major Boosters and Restraints
The rapid surge in construction activities worldwide paired with the expanding population and the evolving lifestyles are some of the major growth boosters in the global market. Roof Coatings Market is majorly used across pipes, roofs, hatches, and various equipment present on the rooftop in order to completely waterproof the roof. These coatings are generally put directly above the existing roof, which leads to a lower installation period and reduced costs since the whole procedure is not quite labor-intensive. Since these are renewable and need recoating only every ten years also add to their appeal. Recoating of the roof and reutilizing the same materials help cut down landfill waste and is deemed eco-friendly.
One of the latest trends noted in the global market is the soaring inclination towards long-lasting and cost-effective coatings for roof systems as opposed to quick-fix, short-term solutions. Industrialists, as well as property managers, are focused on analyzing the lifecycle of different roof coatings, in order to avoid unnecessary costs and higher sales. This could be highly favorable for the global market in the next few years.
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Renowned Firms
Some of the strongest players in the global market for roof coatings include BASF SE (Germany), KANSAI PAINT CO., LTD (Japan), Akzo Nobel N.V. (Netherlands), The Dow Chemical Company (US), Sika AG (Switzerland), Hempel A/S (Denmark), Wacker Chemie AG (Germany), the Sherwin-Williams Company (US), RPM International Inc. (US), PPG Industries, Inc. (US), to name a few.
Segmental Review
The roof coatings market can be considered for type, substrate, roof type as well as application.
The different types of roof coatings are epoxy, elastomeric, bituminous, silicone, acrylic, and more. Elastomeric coatings form the biggest segment in the global industry and should continue to lead as these types are extensively utilized in commercial as well as industrial sectors. Their superior quality combined with the amplified preference for energy-efficient and sustainable roofing systems also push the segment’s growth in the global market.
Substrate-wise, the major market segments are membrane, concrete, metal, plastic, asphalt, and others.
The key roof types discussed in the MRFR report are low slopped, steep, and flat. Steep roof types are the leading applications and can capture the fastest growth rate over the coming years. These types are mostly used in the residential sector, especially in areas with high rainfall and snowfall. Steep roof types require lower maintenance owing to their structural benefit as it reduces the chances of mildew or mold proliferation on the roof.
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Roof coatings’ applications are residential as well as non-residential. The non-residential sector generates maximum demand for roof coatings, in view of the safety concerns in buildings like hotels and hospitals.
Regional Insight
The roof coatings industry has been geographically divided with respect to Europe, Asia Pacific, MEA or the Middle East & Africa, Latin America, and North America.
Asia Pacific is the prime spot for foreign investments and has rapidly growing commercial and residential construction sectors. As a result, the regional market has taken the lead, with the presence of cheap labor and land also identified as growth rendering factors. Mounting market demand in the region is also the result of the exploding population witnessing surge in disposable incomes as well as the heightened focus on eco-friendly and sustainable construction. Surging spending on infrastructure development by the government, especially in India and China could also foster the product demand in the following years. For instance, the Indian government recently introduced its 100 smart cities plan that includes construction of residential buildings, offices, schools, hotels, urban transport, sanitation, hospitals, and retail.
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North America is projected to seize the second biggest share in the global market, with the US on track to be the leading consumer of roof coatings. In the country, roof coating is mostly used in reconstruction applications while the rising focus on energy conservation in buildings should be one of the top trends. Launch of the Leadership in Energy and Environmental Design green building certification initiative by the government is likely to work in favor of the North American market in the ensuing years.
Europe is one of the stronger markets across the globe, with the highest demand for roof coatings witnessed in France, the UK, Italy, Germany, Netherlands, and Spain. Favorable interest rates, high economic growth, and the constant participation of the public sector has driven the growth of the construction sector in the region, which should bolster the use of roof coatings. The European market also profits from the rise in immigration as well as the escalating urbanization rate, along with increasing spending on the development of durable and sustainable roofing systems.
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Roof Coatings Market
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