ROOFING COATINGS MARKET ANALYSIS

Roofing Coatings MarketSize and Trends

The global roofing coatings market size is likely to exhibit potential growth in the next few years, and register a CAGR of 7.5% over the forecast period (2019 - 2027).

Market Overview

Roof coatings are designed with the purpose of providing protection from environmental conditions, and also extending life of roof assemblies, and existing roof components such as ply membranes, metal, BUR, polyurethane foam, and bitumen. Roof coatings are thicker than normal paint and form the topmost layer of the roof membrane, thus protecting the latter from sunlight, harmful UV rays, sleet, rain, and other damage caused by natural elements. Resins are key ingredients in manufacture of roofing coatings and provide elastic properties to it, which enhances the roof coatings’ ability to sustain damage. The elastomeric film introduced by resins also introduces an extra waterproofing layer.

Market Dynamics

Roof coatings are gaining popularity in the paints and coatings industry owing to its ability to regulate temperature, protect against moisture, water damage, and leaks. Furthermore, manufacturers of roof coatings are investing in product innovations in order to introduce cost effective, advanced roof coating solutions. Roof coatings have immense demand in commercial, residential, and industrial constructions which is projected to propel growth of the global roofing coating market. Also, global recovery from the economic slump in 2009 is another major factor behind the increasing demand for roof coatings. In addition to that, advantages such as reflectivity, elasticity, water resistance, and cost effectiveness are encouraging construction companies operating residential and commercial sectors to invest in roof coatings. The residential sector has contributed the maximum market share, however rising demand for white coatings for construction of commercial buildings owing to factors such as a variety of shades, reflective pigment, and energy saving capabilities of roof coatings is expected to favour growth of the global roofing coatings market.

Market Trends

• Reflectivity, elasticity, and water resistance are encouraging the construction companies to invest in roof coatings.
• The increasing demand for white coatings for commercial buildings due to reflective pigment and energy-saving capabilities.