Roof Coating Market by Type (Bituminous, Elastomeric, Acrylic, Epoxy, and Silicone), Substrate (Metal, Asphalt, Membrane, Concrete, and Plastic), Technology (Water-based and Solvent-based), Roof Type, End-use Sector, and Region - Global Forecast to 2022
“Roof coating market is projected to grow at a CAGR of 3.48% during the forecast period.”
The roof coating market is projected to grow at a CAGR of 3.48% from 2017, to reach USD 1.94 billion by 2022. The roof coating market is projected 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 technology and growing construction industry in emerging economies. Factors such as high costs of production and application restrain the growth of the market.
“The non-residential sector is projected to dominate the roof coating market through 2022.”
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.
“The Asia Pacific roof coating market is projected to be the fastest-growing during the forecast period.”
Asia Pacific is projected to be the fastest-growing in the roof coating market, in terms of value and volume, followed by Middle East & Africa, North America, and Europe. Asia Pacific is the hub of 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, the increasing demand for sustainable & eco-friendly construction drives the roof coating market in the region.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the roof coating market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews are as follows:
By Company Type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
By Designation: Manager Level – 65%, C Level – 35%
By Region: North America – 25%, Asia Pacific – 22%, Europe – 28%, and South America – 10%, Middle East & Africa – 15%
Note: Tier 1: Revenue > USD 500 million, Tier 2: USD 100 million < Revenue < USD 500 million, Tier 3: Revenue < USD 100 million
The various key players profiled in the report are as follows:
1. Akzo Nobel N.V. (Netherlands)
2. BASF SE (Germany)
3. The Dow Chemical Company (US)
4. Nippon Paints Co. Ltd (Japan)
5. PPG Industries, Inc. (US)
6. The Sherwin-Williams Company (US)
7. RPM International Inc. (US)
8. Sika AG (Switzerland)
9. Wacker Chemie AG (Germany)
10. Hempel A/S (Denmark)
The segmentation considered for this report is based on type, substrate, roof type, solution technology, end-use sector, and region, which constitutes the key markets. The report covers detailed information regarding the major factors influencing the growth of the roof coating market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, and recent developments associated with the roof coating market.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the roof coating market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report will help stakeholders to understand the market and provides them information on the key market drivers, restraints, opportunities, and challenges.
3. This report will help stakeholders to better understand their competitors and gain more insights with regard to their position in the business. The company profiles section includes strategies adopted by roof coating manufacturers such as new product launches, acquisitions, and expansions & investments.