by Brianna Crandall — January 13, 2016—The demand for cool roof coating has attracted significant demand in recent times, particularly because reducing energy consumption has become the primary goal of many countries and companies, especially in the United States, according to a new report.
Protective roof coating helps enhance the economic life of roofs by protecting them from ultraviolet (UV) degradation, explains the report. Using a roof coat helps organizations to meet their sustainability goals by reducing wastage of resources, such as energy and money. Roof coatings also help repair roof leaks, reduce roof surface temperatures, reflect solar radiation, and reduce cooling loads, and in turn, reduce energy consumption.
Promoting roof coating
According to the report, major roof coating associations are focusing on spreading awareness about roof coatings, their benefits, and cost-effectiveness. They are also giving importance to the “do-it-yourself” application process, which allows the end user to apply the roof coat himself, given the proper information and training.
There are also some manufacturers that are associated with providing roof coating training to contractors and individuals. Consulting services are also provided by manufacturers to help consumers choose the most effective coating for their roof.
Drivers / challenges
Increasing disposable incomes of people in developing countries, regulations to incorporate cool roofing, and changing preferences of people towards sustainable building techniques, are expected to drive the growth of the roof coating market. Lack of awareness about roof coating is the biggest challenge faced by players in the market.
In this report, the global roof coating market is segmented into type, roof type, application and geography, and the market players are discussed.
Established vs. emerging players
The bigger players in the market have a strong distribution network across the world and the financial strength to sustain them, adds the report. The same cannot be said about new entrants in the market. For the roof coating industry, it is essential to have a strong distribution network to enable timely delivery of the product to customers, whenever needed.
New entrants find it difficult to enter the market and compete against established players in this regard, and because end users prefer products from established players, rather than new players.
Key players
According to the report, the key players have adopted inorganic growth strategies such as acquisitions and partnerships and agreements to increase their presence in the market. These companies aim at strengthening their position in the developed markets of Europe and North America and on entering the emerging roof coating markets of the Asia-Pacific region and the Middle East. They invest considerably to acquire coating businesses of local as well as established market players to reinforce their market position in the particular region.
The key players in the market are AkzoNobel NV (The Netherlands), PPG Industries, Inc. (USA), Sherwin-Williams (USA), Valspar Corporation (USA), BASF SE (Germany), Nippon Paint Co. Ltd (Japan), RPM International Inc. (USA), The Dow Chemical Company (USA), and Hempel A/S (Denmark).
A summary of the 104-page Roof Coating Market by Type, Technology, Roof Type, Equipment Application & Geography — Global Forecast to 2020 report by MarketsandMarkets, and more information on purchasing the report from Reportlinker, are available online.
