How much will the Cool Roof Coatings industry be worth in the Future????


The global cool roof coating market size is anticipated to reach USD 6.22 billion by 2027, exhibiting a revenue-based CAGR of 7.1% over the forecast period, according to a new report published by Grand View Research, Inc. Rising developments in the residential and industrial sectors are expected to positively impact the demand. Cool roof coatings reduce the heat buildup within the buildings, thus improving their performance and reducing the overall maintenance cost.
The commercial application segment is projected to expand at a CAGR of 6.8%, in terms of revenue, over the forecast period. Rising spending on construction of commercial stores, shopping malls, warehouses, institutions, hospitals, and other similar projects owing to surge in the Purchasing Power Parity (PPP) in regions such as North America, Asia Pacific, and Europe is anticipated to drive the demand for cool roof coatings from commercial segment in the forthcoming years.
The demand from industrial application segment is dominated by rising demand from the food industry, chemical processing, and manufacturing industries. The demand from these industries is expected witness growth during the forecast period due to heat reflectance, temperature resistance, and other beneficial properties of cool roof coatings. Rapid industrialization, along with the growth of infrastructure and manufacturing sectors boosted by the investment from both private and public sectors is projected to positively influence the industrial cool roof coating market over the forecast period.
What is a green building and how it is related to cool roof coatings?
Green Building: A ‘green’ building is a building that, in its design, construction or operation, reduces or eliminates negative impacts, and can create positive impacts, on our climate and natural environment. Green buildings preserve precious natural resources and improve our quality of life. Also, it leaves negligible or no carbon footprint.
It is directly related with green building in the context that, cool roof coatings reflect maximum amount of albedo and reduce the roof temperature, resulting in less usage of electricity and power by the residents, saving resources.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/cool-roof-coating-market/request/rs4
Why are IR reflective coatings gaining demand?
IR reflecting coatings are efficient in reflecting maximum amount of Infrared Radiation, which is above 40% of the sunlight. This results in cooler surfaces of objects as compared to the conventional coatings.
What is LEED initiative and how it affects cool roof coatings market?
Leadership in Energy and Environmental Design (LEED) is a green building certification program used worldwide. Developed by the non-profit U.S. Green Building Council (USGBC) it includes a set of rating systems for the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods that aims to help building owners and operators be environmentally responsible and use resources efficiently.
Due to its boost to green buildings initiative, positive demand has been created for the cool roof coatings market, which is directly used in the construction of green buildings.
Which region held the largest market share in cool roof coatings market?
North America held the largest market share of more than 34% in terms of value in 2019 and Asia Pacific is considered to be the fastest growing region, riding on the back of the development initiated by China and India.
What is the difference between elastomeric and IR reflective coating?
Elastomeric coatings are made of the material elastomer, which has low viscoelasticity, and has very weak intermolecular forces, generally low Young's modulus and high failure strain compared with other materials.
The IR reflective coatings may or may not be made from elastomeric material. Although, main property it has is that it reflects Infrared Radiation effectively and causes the roofs to cool down effectively.
Browse more details of the report:
https://www.grandviewresearch.com/industry-analysis/cool-roof-coating-market
Recent Developments
·         China launched the 13th Five-Year Plan, which includes the construction of more than 50 new civilian airports and the development of airports located in Harbin, Urumqi, Kunming, Chongqing, Shenzhen, Chengdu, and Xi'an. This is in line of boosting the growth of the market.
·         The government of India launched its 100 smart cities by 2020 plan, which includes the construction of offices, residential buildings, hotels, retail, sanitation, urban transport, schools, and hospitals.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.








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