$1.9 Bn Roof Coating Market - Global Forecast to 2022

The author projects that the roof coating market size will grow from USD 1.63 Billion in 2017 to USD 1.94 Billion by 2022, at a CAGR of 3.48%

The roof coating market is expected to witness considerable growth due to the growing awareness about environment-friendly roofing materials and increasing need for efficient building thermal management. Moreover, regulatory frameworks promote the use of roof coating. The roof coating market has immense opportunities owing to the emergence of new technologies and growing construction industry in emerging economies.

On the basis of type, the roof coating market is segmented into elastomeric, bituminous, acrylic, epoxy, silicone, and others which include polyvinylidene fluoride, modified silane-based coating, and polyuratene. The elastomeric segment is projected to grow at the highest CAGR from 2017 to 2022. The dominant market position of the elastomeric coating segment can be attributed to its compatibility with almost all types of roof structures. Elastomeric roof coatings have superior elastic properties and are hard-wearing in cold as well as warm areas; these coatings expand in warm weather when the roof expands and contract when the roof contracts in cold weather. Moreover, elastomeric roof coating is resistant to fungi and mildew, which cause damage to roofs with time.

The roof coating market, by end-use sector, is segmented into residential and non-residential. The non-residential segment is further divided into commercial, hospitality, healthcare, and others. The demand for roof coating in the residential sector is minimal as compared to that in non-residential, mainly due to the lack of awareness in this market. The demand for roof coating in the non-residential sector is higher as safety concerns are higher in non-residential constructions such as hospitals and hotels.

In 2016, the North American region accounted for the largest share of the global roof coating market. However, as the roof coating market in developed countries is maturing, the Asia Pacific market particularly the developing markets in countries such as China and India is projected to grow at the highest rate from 2017 to 2022. Asia Pacific is a hub for foreign investments and booming residential & non-residential construction sectors, largely due to the low-cost labor and cheap availability of land. The increase in demand for roof coating can largely be attributed to the rising population of the region with high disposable incomes and the construction opportunities in this region. Moreover, increasing demand for sustainable & eco-friendly construction drives the roof coating market in the region.

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Companies Mentioned

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