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.
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.
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www.grandviewresearch.com/industry-analysis/cool-roof-coating-market
Further key findings from the report suggest:
Grand View Research has segmented the global cool roof coatings market on the basis of product, application, end use, and region:
Cool Roof Coatings Product Outlook (Volume, Kilo Liters; Revenue, USD Million, 2014 - 2025)