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 : March, 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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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