The global roof coating market size is forecasted to scale from USD 1.6 billion in 2017 to USD 2.0 billion by 2022, growing at a CAGR of 3.5% between 2016-2022. The recent advancements in technology and the availability of highly efficient coating material are the driving factors of the projected growth of the global roof coating market.
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“The Bituminous Coating segment is envisioned to lead the global roof coating market by the year 2022.”
With better external and environmental resistance properties, economical price, and easy applicability, the bituminous type of roof coating is going to overshadow its competitors and lead the global roof coating market by 2022. Another quality of the bituminous type of roof coating is that:
- It is heat resistant, thereby protects the roof from high-temperature damage
- The procedure to set up bituminous coating is easy, and it can be applied over a complex of the complex roof surfaces
- It is made up of durable material, which makes a bituminous roof type reliable in protecting the roof from mechanical, environmental, and related external factors.
“The non-residential sector will be leading the roof coating market by segment in the projected period”
After dominating all the end-user sectors in the roof coating market in the year 2016, the non-residential user sector will continue to prosper in the forecasted period. The increase in demand for the roof coating in the non-residential properties is the key driving factor for this end-user sector lead.
Given below factors indicate the preference of roof coatings in the non-residential end-user sector over residential or private end-user sector:
- The safety concern in the non-residential end-user sector is higher as compared to the residential end-user sector as the non-residential end-user sector consists of hospitals, theatres, museums, and other public places. Thus, it is crucial for the authorities to implement roof coating solutions to ensure the safety of the general public.
- The awareness level of roof coating in the residential end-user sector is low. On the other side, in the non-residential end-user sector, it is more of a necessity.
- Roof coating plays a significant role in the protection of people in non-residential properties as it takes care of the safety of the people in case of a natural or man-made calamity.
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“North America holds accountability for the dominating majority of the market share of the global roof coating market, the Asia Pacific being an emerging player.”
In 2016, North America led the global roof coating market, the United States of America being the country level leader. Another emerging leader in the global roof coating market in the Asia-Pacific region. With massive alluring investment opportunities, availability of cheap labor and land, the roof coating market in the Asia Pacific region (especially in China and India) is projected to outshine its competitors in the upcoming years. The environment protection authorities can make the growth rate of the roof coating market is steady by bringing up laws that ensure the roof coating material to be environment-friendly. Another factor that can prove to be a constraint in the process of roof coating market growth is its high production cost.
In the USA, the roof coating market is being regulated by the Ozone Transport Commission, US Green Building Council, and Environmental Protection Agency, which ensures the process is environment-friendly. The USA roof coating market is scaling up gradually with outstanding roof coating companies like The Sherwin-Williams, RPM International, and The Dow Chemical Company.
The global players in the roof coating industry include BASF SE from Germany, Akzo Nobel N.V from the Netherlands, RPM International, PPG Industries Inc, and The Sherwin Williams Company from the USA. Other prominent players in the industry include Hempel A/S from Denmark, Wacker Chemie AG from Germany, Sika AG from Switzerland, and Nippon Paint Holdings Co. Ltd from Japan.
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