The global cool roof market size is expected to reach USD 27.1 billion by 2025, accelerating at a CAGR of 5.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising emphasis on green building projects and increasing use of cool roofs for energy conservation are expected to drive the demand for the product.

Large-scale construction activities in residential and commercial sectors are likely to complement product growth. This can be attributed to increasing installation of the products to reduce external heat absorption, thereby maintaining the indoor ambient temperature. Adoption of various types of cool roofing systems in residential construction is projected to witness remarkable growth in developed economies.

Growing use of the product in industrial sector is likely to propel industry growth. Increasing construction spending on account of rapid urbanization and the removal of trade barriers for foreign investments are expected to drive the growth of the construction industry. In addition, growing awareness concerning the benefits of the product as compared to other materials is likely to drive demand over the forecast period.

Rapid growth of the construction industry in the North American economies coupled with rising demand for eco-friendly and energy-efficient systems is likely to propel the market growth. Businesses and homeowners are increasing preferring products made from durable roofing materials, which are resistant to damages caused by hailstorms, uplifts due to high winds, and exposure to solar radiations. Furthermore, the adoption of energy codes and solar power in roofing systems across all end-use applications is projected to augment market growth.

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Further key findings from the report suggest:

• Single-ply membranes segment accounted for 23.4% of the global revenue in 2018; the membranes are widely used on account of their superior waterproofing characteristics along with high flexibility and durability

• The cool roofs market in North America is estimated to witness growth of 5.9%, in terms of revenue, from 2019 to 2025 on account of increased awareness among end users concerning product

• The market in China accounted for over 30.7% of Asia Pacific market revenue in 2018 owing to increasing penetration of products and rising government spending on various construction and infrastructure projects

• Major players in the industry offer a wide range of products along with personalized services, such as custom designs and installation services, which is aiding companies in gaining an edge over their competitors.

Browse More Reports in Green Building Materials Industry:

• Roofing Materials Market: Increasing adoption of sustainable construction projects, which emphasizes on the use of environment-friendly and energy efficient materials, is expected to drive the market over the forecast period.

• Wood Pellets Market: Increasing awareness regarding the use of renewable energy sources for power generation is likely to augment the demand for wood pellets over the forecast period.

Grand View Research has segmented the global cool roofs market on the basis of roof type, product, application, and region:

Type Outlook (Volume, Million Square Feet, Revenue, USD Million, 2014 – 2025)

• Steep-slope Roofs

• Low-slope Roofs

Product Outlook (Volume, Million Square Feet, Revenue, USD Million, 2014 – 2025)

• Coated Roofs

• Foam Roofs

• Modified BUR

• Single-ply Membranes

• Asphalt Shingles

• Metal Roofs

• Tiles

• Slates

Application Outlook (Volume, Million Square Feet, Revenue, USD Million, 2014 – 2025)

• Residential

• Commercial

• Industrial

Regional Outlook (Volume, Million Square Feet, Revenue, USD Million, 2014 – 2025)

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• U.K.

• France

• Russia

• Spain

• Italy

• Asia Pacific

• China

• India

• Japan

• South Korea

• Australia

• Central & South America

• Argentina

• Brazil

• Middle East & Africa

• South Africa

• United Arab Emirates

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com