May 06, 2022 06:08 ET | Source: Research and Markets Research and Markets
Dublin, May 06, 2022 (GLOBE NEWSWIRE) -- The "Roof Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global roof coatings market reached a value of US$ 3.32 billion in 2021. Looking forward, the market is projected to reach a value of US$ 4.16 billion by 2027, exhibiting a CAGR of 3.60% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor. Roof coatings refer to monolithic, elastomeric, fluid applied roofing membranes that are widely installed for eliminating damages caused by water, heat and ultraviolet (UV) radiations. At present, they are commercially available in varying types, such as acrylic, elastomeric, silicone, plastic and cool.
These coatings aid in reducing the risk of roof leaks, ensuring thermal stability, and maintaining the temperature of the structure, thereby extending the shelf life of the roof. On account of these properties, roof coatings find extensive applications across various sectors. Roof Coatings Market Trends
One of the key factors driving the market growth is the widespread adoption of roof coatings across the residential, commercial, healthcare, hospitality, and public sectors, for eradicating damage caused by heavy rains and heat. In line with this, the favorable initiatives undertaken by the government bodies of various countries for promoting the usage of green coatings in infrastructures for mitigating greenhouse gas (GHG) emissions are catalyzing the market growth.
This is further supported by the increasing consumer consciousness regarding the sustainable properties of these roof coatings that consume lesser energy as compared to their conventional counterparts, which is acting as another major growth-inducing factor.
Moreover, the rising commercial building activities across the globe, along with escalating population and evolving lifestyle is, providing an impetus to the market growth. The extensive utilization of volatile organic compounds (VOCs) in the paint roof coatings for the protection from weathering, chemical reaction, ageing and oxidation is considerably contributing to the market growth.
Other factors, such as strategic collaborations between top players and the increasing investments in the research and development (R&D) activities for introducing advanced coatings materials to protect from the torrid heat, are creating a positive outlook for the market.
Key Questions Answered in This Report
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Market Segmentation Breakup by Roof Type:
For more information about this report visit https://www.researchandmarkets.com/r/yez10u