- Industrial buildings witnessing widespread use of cool roof
products to reduce cooling energy consumption; need to lower carbon
footprint is a key factor increasing adoption of cool roofs
- Regulations pertaining to promoting energy efficiency of
buildings is a key driver for the market; North America to emerge as a lucrative market
for cool roof coatings
ALBANY, N.Y., Aug. 3, 2021 /PRNewswire/ -- Cool roof coatings
are widely used in roof systems in various buildings to turn them
into cool roofs. A number of IR reflective coatings and more
recently, elastomeric coatings, has gained traction in cool roof
products. Cool roof systems essentially counter urban heat islands,
notably for lowering buildings' energy consumption and energy cost.
More importantly, the growing role of cool roof products in
lowering the greenhouse gas emissions by significant percentage in
urban settlements. A wide range of chemistries has been used by
manufacturers to improve the performance of cool roofs. This has
expanded growth avenues for chemical companies to expand their
product portfolio and boost prospects, according to a market survey
on cool roof coatings. Coatings for low-sloped roofs have gained
popularity, and the segment is expected to attract massive
opportunities in near future for cool roof coatings market players.
The low cost of installation is one of the factors driving the
adoption of low-sloped cool roof systems in developing
countries.
The cool roof coatings market is expected to reach US$ 554.21 Mn by 2026, notes a study by TMR.
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Key Findings: Cool Roof Coatings Market
- Regulatory Push for Low-carbon Footprint Buildings Bolsters
Demand: Globally, economies are becoming conscious about
disruptive impact of climate change on the ecology. Emissions from
buildings are increasingly gathering attention in this regard,
propelling the popularity of cool roof systems. Major economies of
the world have laid down regulations that demonstrate the energy
savings such technologies can bring. A case in point is the U.S.
Environmental Protection Agency demonstrating the role of cool roof
systems for reducing the carbon footprint of commercial roofing
spaces. This, in turn, has fueled the sales of cool roof
coatings.
- Commercial Units Witness High Adoption: Of the various
end users, industrial units have seen extensive adoption of cool
roofs, finds a market survey on cool roof coatings. The demand for
cool roof products has surged in commercial buildings, especially
in a number of emerging economies. The major focus on reducing the
cost of air conditioning is a key factor for commercialization of
such roof systems. Thus, chemical companies have introduced
cost-effective formulations to meet the demand. Moreover, facility
managers are keen on adopting cool roof coatings that preserve and
protect roof surfaces against premature deterioration.
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Cool Roof Coatings Market: Drivers
- Increasing awareness about architectural technology that can
reduce energy bills of buildings and bring comfort to occupants is
a key driver. Over the years, the high use of air conditioning in
commercial buildings has led to urban heat islands. This has raised
environmental concerns.
- Resurfacing of conventional roofing materials for prolonging
lifespan of roofs is another factor driving product demand
- Rapid pace of industrialization is a key trend expanding the
cool roof coatings market
Cool Roof Coatings Market: Regional Growth Dynamics
- Of the various regions, Asia
Pacific is viewed with potentially lucrative avenues. The
focus on improving energy efficiency of existing buildings has led
to retrofitting of many with cool roof coatings.
- Asia Pacific cool roof
coatings market is also likely to expand due to the implementation
of green energy codes, especially in residential buildings
- North America accounted for a
major market share in 2017. The opportunities for market players
has constantly increased due to rise in focus on reducing carbon
footprints by developing buildings with rooftops coated with
reflective coatings. The U.S. is a prominent market in the
region.
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Cool Roof Coatings Market: Key Competitive Dynamics
- Huntsman International LLC.
- BASF SE
- The Valspar Corporation
- Nutech Paint
- Akzo Nobel N.V.
- DowDuPont
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Research's award-winning coverage of the global Chemicals &
Materials Industry:
Polycarbonate Diols Market - The global polycarbonate
diols market was valued over
US$ 200 Mn
in 2020 and is expected to reach
US$ 400 Mn by 2031, expanding
at a CAGR of 5% during the forecast period
of 2021 to 2031. Polycarbonate
diols are resistant to oxidation, wear, and stains; they also
provide resistance to hydrolysis in polyurethane products as
compared to polyester polyols and polyether. Solid polycarbonate
diols provide high strength, excellent mechanical properties,
efficient performance, and high thermal stability when used at low
temperature. The demand for polycarbonate is increasing across the
globe primarily due to the rise in the demand for synthetic
leather. Solid polycarbonates are also employed in various
applications in diverse sectors such as waterborne paints &
coatings in textiles, furniture, and automotive. The liquid form of
polycarbonate diols is made from traditional polyols, which consist
of a hydrophilic group. As a result, the water resistant property
of the material is adversely affected. Polycarbonate is added to
improve the hydrolysis resistance of polyurethane materials.
Consequently, polycarbonate diols can be used effectively in the
production of waterborne polyurethane materials.
Precipitated Barium Sulfate Market - The significant growth
of paints & coatings and rubber industries is estimated to fuel
the consumption of precipitated barium sulfate, especially in
Germany. This, in turn, is
anticipated to drive the precipitated barium sulfate market in
Europe. Precipitated barium
sulfate is employed as a filler agent in paints, coatings, rubber,
and plastics, as it possesses beneficial properties such as
chemical inertness, nontoxicity, and high specific gravity.
Precipitated barium sulfate is used as a filler to create colorful
plastics, as it is effective in improving the intensity, stiffness,
and abrasive strength. This makes the plastic attractive in
appearance and stronger in strength.
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