The global roof coatings market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.
Roof coatings refer to monolithic, elastomeric, fluid applied roofing membranes that are widely installed for eliminating damages caused by water, heat and ultraviolet (UV) radiations. At present, they are commercially available in varying types, such as acrylic, elastomeric, silicone, plastic and cool. These coatings aid in reducing the risk of roof leaks, ensuring thermal stability, and maintaining the temperature of the structure, thereby extending the shelf life of the roof. On account of these properties, roof coatings find extensive applications across various sectors.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Roof Coatings Market Trends:
One of the key factors driving the market growth is the widespread adoption of roof coatings across the residential, commercial, healthcare, hospitality, and public sectors, for eradicating damage caused by heavy rains and heat. In line with this, the favorable initiatives undertaken by the government bodies of various countries for promoting the usage of green coatings in infrastructures for mitigating greenhouse gas (GHG) emissions are catalyzing the market growth. This is further supported by the increasing consumer consciousness regarding the sustainable properties of these roof coatings that consume lesser energy as compared to their conventional counterparts, which is acting as another major growth-inducing factor. Moreover, the rising commercial building activities across the globe, along with escalating population and evolving lifestyle is, providing an impetus to the market growth. The extensive utilization of volatile organic compounds (VOCs) in the paint roof coatings for the protection from weathering, chemical reaction, ageing and oxidation is considerably contributing to the market growth. Other factors, such as strategic collaborations between top players and the increasing investments in the research and development (R&D) activities for introducing advanced coatings materials to protect from the torrid heat, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global roof coatingsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on roof type, material, technology and end user.
Breakup by Roof Type:
Low Sloped Roof
Steep Sloped Roof
Others
Breakup by Material:
Elastomeric
Bituminous
Acrylic
Epoxy
Silicone
Others
Breakup by Technology:
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Water-based
Solvent-based
Breakup by End User:
Residential
Commercial
Hospitality
Healthcare
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Akzo Nobel N.V., BASF SE, Covestro AG, Dow Inc., Hempel A/S, Huntsman International LLC, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, The Sherwin-Williams Company and Wacker Chemie AG.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Roof Type, Material, Technology, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Akzo Nobel N.V., BASF SE, Covestro AG, Dow Inc., Hempel A/S, Huntsman International LLC, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, The Sherwin-Williams Company and Wacker Chemie AG.
Customization Scope
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Key Questions Answered in This Report
The global roof coatings market was valued at US$ 3.4 Billion in 2022.
We expect the global roof coatings market to exhibit a CAGR of 3.2% during 2023-2028.
The growing popularity of roof coatings across the residential, commercial, and hospitality sectors to ensure thermal stability, maintain the temperature of the structure, and extend the shelf-life of the roof is primarily driving the global roof coatings market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary closure of numerous
manufacturing units for roof coating materials.
Based on the roof type, the global roof coatings market has been divided into low sloped roof, steep sloped roof, and others. Currently, low sloped roof exhibits a clear dominance in the market.
Based on the material, the global roof coatings market can be categorized into elastomeric,
bituminous, acrylic, epoxy, silicone, and others. Among these, elastomeric currently holds the
majority of the global market share.
Based on the technology, the global roof coatings market has been segmented into water-based and solvent-based. Currently, water-based technology represents the largest market share.
Based on the end user, the global roof coatings market can be bifurcated into residential,
commercial, hospitality, healthcare, and others. Among these, the commercial sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global roof coatings market include Akzo Nobel N.V., BASF SE,
Covestro AG, Dow Inc., Hempel A/S, Huntsman International LLC, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, The Sherwin-Williams Company, and Wacker Chemie AG.
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