SAN FRANCISCO, April 15, 2019
SAN FRANCISCO, April 15, 2019 /PRNewswire/ -- The global cool roof coating market size is expected to reach USD 5.41 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.0% CAGR over the forecast period. Energy savings offered by these coatings, along with favorable regulations, are slated to drive the market.
Key suggestions from the report:
Read 166 page research report with TOC on "Cool Roof Coatings Market Size, Share & Trends Analysis Report By End Use, By Product (Elastomeric, IR Reflective), By Application (Slow-sloped, Steep-sloped), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/cool-roof-coating-market
Use of cool roof coatings can prevent structural deformity caused by severe temperature fluctuations. It also lowers dependency of air conditioning by reducing heat built up in buildings, which in turn, reduces energy consumption.
Favorable regulations and government support in the form of tax benefits and financial incentives are expected to propel product demand. Increasing awareness regarding energy savings as well as environmental benefits offered by cool enamels will play a vital role in market expansion. However, limitations associated with long-term durability of such coatings owing to usage of titanium dioxide as a critical ingredient is projected to remain a key challenge for market players.
Advent of new polymers and resins with lower volatile organic compound (VOC) ratings are likely to contribute to product demand as an eco-friendly choice. Increasing efforts to reduce VOC limits in different geographies is expected to create ample opportunities for cool roof coatings as an alternative to meet stringent regulations.
Manufacturers are focused on development of new technologies to enhance UV resistance of these coatings. Introduction of microcells and nanotechnology for reducing heat flux and increasing energy conservation is projected to drive demand for cool roof coatings over the forecast period.
Grand View Research has segmented the global cool roof coatings market report on the basis of product, application, end use, and region:
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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