Market Dynamics
The global cool roof market 2020 was valued at USD 18.6 Billion in the year 2021, as per the estimations of Market Research Future (MRFR). MRFR also anticipates the market to achieve a decent CAGR of 5.9% between 2021 and 2027 (forecast period).
Market Boosters and Key Restraints
The rapid boom in the global construction industry along with the rising emphasis on green building projects are believed to be boosting the demand for cool roofs. Fast paced surge in industrial and commercial construction activities have resulted in intense urban heat in the backdrop of dark-colored panels as well as dark structure. This increase in urban heat is viewed as a growth opportunity for the cool roofs market worldwide.
The reasons behind the massive boom in the construction industry are the rapid urbanization, withdrawn trade barriers for foreign investments, and rising spending by international construction companies in potential markets. Over the years, the infrastructure sector has expanded considerably in countries like India, Australia, Norway, Germany, Canada and Sweden, which is bound to elevate the demand for cool roof products in the following years.
With the rise in global refugee crisis as well as the infrastructure expansion in developing economies, the demand for the cool roof is anticipated to multiply extensively in the next few years. mounting importance of energy conservation along with strict environmental regulations can also lead to expansion of the cool roof market soon in the future.
Get a FREE Report Sample - https://www.marketresearchfuture.com/sample_request/8647
Market Segmentation
The types of cool roof discussed in the report are low-slope roofs and steep-slope roofs. The low-sloped roof is also called roof cooling solution and was the leading segment in the global cool roof market in the year 2018. The segment also shows signs of attaining the highest growth rate in the next few years.
The product types considered to analyze the market are foam roofs, coated roofs, single-ply membrane, modified BUR, metal roofs, tiles, slates and asphalt shingles or cool roof shingles. The single-ply membrane, in 2018, accumulated the largest share in the global cool roof market and can record the highest growth rate in the years to come.
The application-based market segmentation includes commercial, industrial and residential. The residential cool roof segment dominates the global cool roof market.
Regional Insight
In 2018, North America was identified as the leading market for cool roof, followed by Europe. The region is most likely to retain its dominant position till 2027. North America managed to clinch the top position in the global market backed by massive R&D investments to facilitate product innovation as well as development of energy efficient buildings or green buildings. Also, strict government regulations in bid to conserve energy in the United States (US) as well as Canada has boosted the demand for cool roof coating products across various end use industries. The product penetration in the U.S. is quite high, which is the result of the rising number of large-scale infrastructure investment projects such as hospitals and hotels in Missouri, Los Angeles and New York.
In APAC, increasing foreign domestic investments (FDI), mainly in emerging countries like Indian and China has pushed the urbanization rate as well as commercialization. These factor can be lucrative for the sale of cool roofs in the coming years. Surging consumer disposable income thanks to the rising urbanization coupled with infrastructure renewal projects as well as the rising efforts to build megacities can fuel the demand for advanced systems like cool roofing products. The rising trend of reflective surfaces in the region can also work in favor of the cool roof market in the near future.
Renowned Players
PABCO Building Products, LLC. (US), Certain Teed Corporation (US), IKO Industries Ltd. (Canada), Polyglass S.p.A (Italy), Owens Corning (US), ATAS International Inc. (US), Malarkey Roofing (US), GAF Materials Corporation (US), Henry Company (US), Tamko Building Products, Inc. (US), are the some of the renowned players in the worldwide market for cool roof.
Buy Now - https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=8647
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
Browse Complete Report - https://www.marketresearchfuture.com/reports/cool-roof-market-8647
