Global Roof Coating Market Size To Worth USD 2.64 Billion By 2033 | CAGR of 4.38%
Category: Chemicals & MaterialsGlobal Roof Coating Market Size To Worth USD 2.64 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Roof Coating Market Size is Expected to Grow from USD 1.72 Billion in 2023 to USD 2.64 Billion by 2033, at a CAGR of 4.38% during the forecast period 2023-2033.
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Browse key industry insights spread across 236 pages with 110 Market data tables and figures & charts from the report on the "Global Roof Coating Market Size, Share, and COVID-19 Impact Analysis, By Substrate (Metal, Asphalt, Membrane, Concrete, Plastic, and Others), By Technology (Water-Based, Solvent-Based, and Others), By End-Use Sector (Residential and Non-Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/roof-coating-market
The roof coating market is the industry that manufactures and sells coatings for protecting roofs from environmental damage. The elastic qualities of many roof coatings enable them to expand and regain their original shape without causing any damage. Roof coatings include more solids and are slightly thicker than paint. These coatings can be used in a wide range of applications, making them appropriate for both commercial and residential construction. The increasing emphasis on retrofitting and renovating is anticipated to provide market growth opportunities. The growing awareness regarding sustainability & energy efficiency is contributing to driving the market demand as these coatings reduce energy use and heat absorption, which can lower energy costs and reduce the building’s carbon footprint. Further, the use of roof coatings in commercial spaces to protect roofs from the elements, extend their lifespan, and reduce repair needs is propelling the market. However, the lack of awareness about roof coating among emerging economies and increased prices of advanced coatings are challenging the roof coating market.
The asphalt segment held the largest revenue share of the roof coating market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the substrate, the roof coating market is classified into metal, asphalt, membrane, concrete, plastic, and others. Among these, the asphalt segment held the largest revenue share of the roof coating market in 2023 and is expected to grow at a significant CAGR during the forecast period. Asphalt is an inexpensive, workable substance. The frequent use of asphalt as a monolithic base membrane is driving the market in the asphalt segment.
The water-based segment accounted for the largest share of the roof coating market in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the technology, the roof coating market is classified into water-based, solvent-based, and others. Among these, the water-based segment accounted for the largest share of the roof coating market in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This is attributed to factors such as strict green legislation, global warming, and climate change propelling the need for waterborne acrylic flexible roof coatings.
The non-residential segment accounted for the largest market share in 2023 and is anticipated to grow at a significant CAGR through the predicted timeframe.
Based on the end-use sector, the roof coating market is classified into residential and non-residential. Among these, the non-residential segment accounted for the largest market share in 2023 and is anticipated to grow at a significant CAGR through the predicted timeframe. The rapid industrialization and increased demand for construction materials such as concrete, steel, metal, aggregates, paints & coatings are driving the market in the non-residential segment.
Asia Pacific is estimated to hold the largest share of the roof coating market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the roof coating market over the forecast period. The demand for the construction of airports, malls, residential buildings, parks, commercial complexes, and other sectors is driving the market demand for roof coating. The regional population growth, construction projects, and awareness about the protection of roofs are all factors propelling the roof coating market.
Europe is predicted to grow at the fastest CAGR in the roof coating market over the forecast period. The rising demand for cool roof coatings across green building life, maximized energy efficiency, and improved indoor quality are propelling the market for roof coating. The residential end-use segments such as elite housing, low-cost housing, and middle-class housing are driving the roof coating market in Europe.
Major key players in the global roof coating market include BASF SE, Akzo Nobel N.V., RPM International Inc., PPG Industries, The Sherwin-Williams Company, HITAC ADHESIVES & COATINGS, Neogard, DOW, Wacker Chemie AG, SIKA AG, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In October 2024, PPG, a global leader in paints, coatings, and specialty materials, announced that it has reached a definitive agreement to sell 100% of its architectural coatings business in the U.S. and Canada at a transaction value of $550 million to American Industrial Partners (AIP), an industrials investor.
- In January 2024, Nippon Paint Holdings Co., Ltd. announced that it completed the acquisition and payment on January 17, 2024, for 75 percent of the share capital of Alina Group LLP through our consolidated subsidiary Nippon Paint Holdings SG Pte. Ltd. (the “Acquisition”).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the roof coating market based on the below-mentioned segments:
Global Roof Coating Market, By Substrate
- Metal
- Asphalt
- Membrane
- Concrete
- Plastic
- Others
Global Roof Coating Market, By Technology
- Water-Based
- Solvent-Based
- Others
Global Roof Coating Market, By End-Use Sector
- Residential
- Non-Residential
Global Roof Coating Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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