Roof Coatings Market Overview:
Roof Coatings Market was valued at $951 million in 2016, and is expected to reach $1,680 million by 2023, registering a CAGR of 8.8% from 2017 to 2023. Roof coating is fluid applied roofing membrane, which possesses elastic properties. The growth of the roof coating market is driven by product innovations due to regulatory and environmental pressure.
The growth of the global roof coatings market is driven by surge in construction activities across the globe, increase in R&D activities, and introduction of green roof coatings technology. However, volatility in raw material prices is anticipated to be one of the major restraints of the market.
Global Roof Coatings Market Segmentation
The global roof coatings market is segmented based on material, technology, roof type, application, and geography. By material, the market is categorized into elastomeric and plastic, bituminous, tiles, metals, and others. On the basis of technology, it is bifurcated into water-based and solvent-based. According to roof type, it is fragmented into low sloped roof, steep sloped roof, and others. The applications covered in the study include residential, commercial, hospitality, healthcare and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pockets
In 2016, the commercial segment accounted for a significant share of the global market. The commercial and residential segments are anticipated to be the top investment pockets, owing to rise in construction activities, especially in the developing regions. Moreover, regulations to incorporate cool roofing in residential and commercial buildings are anticipated to drive their demand during the forecast period.
Asia-Pacific Roof Coatings Market
The adoption of roof coatings in Asia-Pacific is expected to increase, owing to stable economic growth, development of the construction industry, and increase in disposable income of people. Furthermore, rise in demand for sustainable building techniques is anticipated to drive the demand for roof coatings. In addition, the incorporation of green roof coatings is expected to provide new opportunities for the market expansion.
Asia-Pacific Roof Coatings Market Value for Healthcare Application, 2016-2023 ($Million)
The key players operating in the global roof coatings market have adopted product launch and expansion as their key strategies to gain significant market share and cater to the growing demands from the developing countries.
The key players operating in the global market include RPM International Inc., The Dow Chemical Company, AkzoNobel NV, BASF SE, Nippon Paint Co. Ltd., Valspar Corporation, PPG Industries, Inc., The Sherwin-Williams Company, and Hempel A/S.
The other players not profiled in the report include Graco Inc., Owens Corning, H.B.Fuller, GAF Materials Corporation, Johns Manville, Saint-Gobain, Kraton Performance Polymers, and Bayer MaterialScience.
- The report provides an extensive analysis of the current trends and emerging estimations from 2016 to 2023 in the global roof coatings market.
- Competitive intelligence of leading manufacturers & distributors of roof coatings helps to understand the competitive scenario across geographies.
- Comprehensive analysis of factors that drive and restrain the market growth is provided.
- Extensive analysis of the industry is conducted by following key product positioning and by monitoring the top competitors within the market framework.
- The key players are profiled along with their strategies to determine the competitive outlook of the market.
Roof Coatings Market Key Segments:
- Elastomeric & Plastic
By Roof Type
- Low Sloped Roof
- Steep Sloped Roof
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of LAMEA