Roofing Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Roofing Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : November, 2020 | Chemical & Materials | PPT format

Report Digest


Global Roofing Coatings Market: Snapshot

The revival of the global economy from the economic downturn that happened in the last decade is providing an upthrust to several industries worldwide, including construction. The expansion of the global construction industry is one of the primary factors stoking the growth of the global roofing coatings market. The construction sector is progressing at a brisk pace in emerging regions such as Asia Pacific, making these regions highly opportunistic marketplace for roofing coatings.

Roof coatings help in maintaining conducive temperatures by eventually cutting down the heat buildup inside residential and commercial spaces. Subsequently, they reduce the dependence on air-conditioning systems, thus saving energy and decreasing pollution. Apart from this, these coatings offer merits such as high emittance and reflectivity. These benefits are impelling construction companies to use them in buildings. The burgeoning uptake of white coatings for roofs of commercial buildings is also anticipated to augment the overall market in the near future. Moreover, the improving scope of application of coil coatings consisting of infrared reflective pigments and the introduction of various shades is likely to augur well for the growth of the market.

The global roofing coatings market is marked by intense competitive rivalry. The majority of companies operating in the roofing coatings market are aiming at capitalizing on the immense potential of emerging markets in order to maximize their profits. The leading players are looking upon mergers and acquisitions and product launches as viable strategies for ensuring inorganic growth. Besides this, they are also trying to expand their production units to meet the increasing demands for roofing coatings in emerging economies.

Global Roofing Coating Market: Overview and Trends

Roof coating solutions are developed to combat extreme temperatures and minimize their effect internally. They also offer protection from seepage, help in avoiding absorption of moisture, and are aesthetically pleasing. The construction industry, after a slack period, has seen a sudden rise due to increased investments and in turn, has led to the demand in roofing coating, especially in BRICS countries. 

The volatile crude oil prices are limiting coatings derived from petroleum-based products, leading to a substantial shift to non-petroleum-based products. In developed nations such as the U.S., the government is taking initiatives to improve environmental performance of roofing coating products. The United States Environment Protection Agency (US EPA) has launched an Energy Star Roof Program, which specifies guidelines for roofing coatings, especially for reflective coatings. 

Global Roofing Coating Market: Key Segments

Roofing coatings can be divided on the basis of product type into three segments: bituminous roofing coatings, polymer roofing coatings, and reflective roofing coatings. Traditional bituminous roofing coatings are the dominant product type globally, while reflective roofing coatings form the fastest growing product segment. 

Polymer roofing coatings can be further divided into five segments, based on the chemicals involved. These are acrylic based, polyurethane based, silicone based, epoxy based, elastomer based, and modified polymer roofing coatings. Reflective roofing coatings – also known as cool roofing coatings – are typically used on glass structures such as greenhouses and factory roofs. Owing to their availability in a variety of colors and several aesthetic properties, roofing coatings are in high demand in the residential roofing coatings market as well. 

Roofing coatings can be further classified into residential and commercial sectors based on the end-user market. The residential sector is the dominant segment with a higher share of bituminous coatings due to their lower prices. The commercial sector demand is dominated by polymer roofing coating solutions owing to their wide applicability and performance benefits. On the basis of carrier medium or formulations, the roofing coatings market can be further divided into three segments: water-borne formulations, solvent-borne formulations, and multiple component formulations. 

Global Roofing Coating Market: Regional Analysis

Geographically, Asia Pacific is the leading roofing coatings market in terms of growth rate. The demand is high due to the increasing number of construction and infrastructure development projects. China, India, Japan, South Korea, Singapore, Taiwan, and Thailand are industrial economies that are experiencing rapid growth in their industrial sectors, leading to a high demand for infrastructure. Two of the most populated countries of Asia, India and China, are growing rapidly. The rising disposable income and purchase power parity is expected to drive the demand for construction projects and infrastructure development programs, especially residential projects in the expanding urban regions. The availability of cheap labor, land, and lenient norms and regulations against chemicals as compared to other regions have led the market players of repute to establish their production facilities in Asia. 

North America is another major consumer of roofing coatings, especially reflective roofing coatings and polymer roofing coatings. On the other hand, due to the recent economic meltdown, Europe is expected to witness comparatively slower growth in the roofing coatings market. 

Global Roofing Coating Market: Key Market Players

BASF SE, 3M Company, Akzo Nobel Coatings Inc., Bayer Material Science LLC, National Coatings Corp., General Coatings, Allied Building Products Corp., and TAMKO Building Products, Inc. are a few of the key market players.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?