Cool roofing is a green technology used in the construction industry. Cool roofs are designed to absorb less heat and reflect more sunlight than standard roofs. The cool roofing systems are used to overcome building overheating issues. Rooftops can become a source of excessive heating of buildings. Cool roofs are designed absorb less heat than standard roofs by using materials that reflect sunlight. A cool roof can help reduce energy bills by decreasing air conditioning needs and also improve indoor comfort for spaces that are not air conditioned. Decreasing roof temperature can also help extend roof service life. Beyond the building itself, cool roofs can also benefit the environment as they help reduce local air temperatures, lower peak electricity demand and also reduce power plant emissions, including carbon dioxide, sulfur dioxide, nitrous oxides, and mercury, by reducing cooling energy use in buildings.
COVID-19 scenario analysis:
- Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
- Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
- Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
- Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
- The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
- Decreased consumer demand and consumption has led to reduction and slow down of sales of construction materials all over the globe over the course of the current economic year.
- Therefore, the global cool roof market is expected to be negatively affected in 2020.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Growth in the global construction industry due to rapid urbanization and increasing infrastructure development around the world is expected to drive the demand for cool roofing systems. Rising importance of energy conservation and the environmental regulations related to building design and architecture, being enforced globally, are anticipated to be the major driving factors behind the growth of cool roof market. Rise in popularity of energy-efficient and eco-friendly roofing systems is also a key factor driving the global cool roof market. The global cool roof market is aided by the rapid global urbanization, growth in population, and increase in disposable income of middle-class families around the world. The growth opportunities for the global cool roof market comes from the benefits of using cool roofs like decrease in energy consumption and increase in roof longevity. These reasons are expected to attract customers and help increase the demand for cool roofs.
The global cool roof market trends are as follows:
Surge in popularity of green building materials
Building and construction sector accounts for more than two-thirds of total greenhouse gas emissions across the globe. Green building materials are employed in construction industry to address various environment challenges including anomalous climate change, natural resource depletion, atmospheric pollution, contamination of freshwater resources, and loss of biodiversity. Cool roofs are designed absorb less heat than standard roofs by using materials that reflect sunlight. The benefits and advantages of cool roof systems can also benefit the environment, especially when many buildings in a community have them. Cool roofs can reduce local air temperatures and deter the urban heat island effect. Cool roofs can lower peak electricity demand, which can help prevent power outages and reduce power plant emissions, including carbon dioxide, sulfur dioxide, nitrous oxides, and mercury, by reducing cooling energy use in buildings. Rooftops can become a large contributor to excessive heat issues if roofs are poorly designed and built with dark, non-reflective, heat-absorbing materials. In such cases, rooftop temperatures can rise up to 90 degrees above the prevailing air temperature. In dense, populated areas, the term “heat islands” are used to refer to the phenomenon of drastic temperature increases caused due to building overheating. In light of this, cool roofing systems can be used to prevent occurrences of heat island effects. Thus, there is a great potential for enhancing the energy efficiency of buildings and communities by using cool roof systems.
Population, urbanization and disposable income
Rapid urbanization and growth in real estate business has significantly bolstered the growth of furniture market. According to data of United Nations (UN) more than 54% of global population is living in urban areas, which is generating employment opportunities and improving income level of individuals. Due to the aforementioned factors of growing population, urbanization and increased standard of living of consumers around the world, the global cool roof market is also set to grow. Rising number of nuclear families is resulting in increasing construction of buildings in urbanized and rural areas. A cool roof system can benefit a building and its occupants by reducing energy bills by decreasing air conditioning needs, improving indoor comfort for spaces that are not air conditioned and extending roof service life. These reasons are expected to help grow the demand for cool roof systems around the world and help the global cool roof market witness growth.
Key benefits of the report:
- This study presents the analytical depiction of the global cool roof industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cool roof market share.
- The current market is quantitatively analyzed to highlight the global cool roof market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cool roof market analysis based on competitive intensity and how the competition will take shape in coming years.
Cool Roof Market Report Highlights
By Roof Type
By Reflective Coatings
By Industry Vertical
Key Market Players
IKO Industries Ltd, GAF, Polyglass S.p.A., PABCO Building Products LLC, Tamko Building Products Inc, Malarkey Roofing, Owens Corning, Certain Teed Corporation, Henry Company, ATAS International Inc