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Roof Coatings Market Will Reach USD 3106.1 Million, Expanding at a CAGR of 4.79% By 2030 | Reports and Data

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Roof Coatings Market Will Reach USD 3106.1 Million, Expanding at a CAGR of 4.79% By 2030 | Reports and Data

September 26
23:00 2022
Roof Coatings Market Will Reach USD 3106.1 Million, Expanding at a CAGR of 4.79% By 2030 | Reports and Data
Roof Coatings Market
Increasing investment in construction projects with rapid urbanization and industrialization across the globe will propel the growth of the roof coatings market growth.

The Global Roof Coating Market size is forecast to reach USD 2.03 billion from USD 2,041.56 Million in 2021, delivering a CAGR of 4.79% through 2030. The market growth is driven by the evolving construction sector and rise in several residential & commercial construction projects, primarily across the developing economies.

Roof coatings are specifically designed for the protection of roof assemblies in construction in order to augment the life-span of roofs. These coatings are thicker than paints and are formulated to protect roofs from the harsh environmental or weathering effect, such as wind, rain, UV rays, and others.

In roof coatings, resins are mixed, which transforms into an elastomeric and durable film when applied to walls. This offers a unique waterproofing property that enables these coating to cover all the membrane seams and cracks. Some of the commonly used roof coatings in buildings are polyurethane coatings, acrylic coatings, silicone coatings, and asphalt coatings, among others.

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Top Companies: Sherwin-Williams, Valspar Corporation, PPG Industries, AkzoNobel NV, Nippon Paint Co. Ltd., RPM International Inc., The Dow Chemical Company, Fletcher Insulation, BASF SE, Hempel A/S, Owens Corning, GAF, Heritage Roofing, and Lloyd Insulations, among others.

Further key findings from the report suggest

  • On the basis of resin types, the bituminous segment accounted for 22% of the roof coating market share in 2019 and is estimated to witness major growth through 2027 due to beneficial product attributes such as high durability, resistance from harsh chemicals, UV light rays, rust, and water, and cost-effectiveness.
  • The elastomeric resins segment is expected to exhibit a growth rate of 3.9% over the projected timeframe. Elastomeric resins are witnessing high demand as it provides the roofs with a seamless solid seal, to keep it leakproof.
  • Based on roof type, the steep-sloped roof segment is estimated to showcase a growth rate of 4.1% over the forecast period due to the exponential growth of population and an associated rise in residential construction activities.
  • The low-sloped roof segment accounted for 32% of the global market revenue share in the year 2019 and is set to garner significant revenue over the forecast period on account of a rise in industrial and commercial construction activities across the globe.
  • On the basis of technology, the water-based segment accounted for 41% of the market share in 2019 and will experience high demand due to the easy availability of raw materials.
  • The solvent-based segment is anticipated to exhibit a CAGR of 3.4% through 2027 on account of the high bonding strength of solvent-based products.

Resin type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2019-2030)

  • Elastomeric
  • Bituminous
  • Acrylic
  • Epoxy
  • Silicone
  • Others

Roof Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2019-2030)

  • Flat
  • Low-sloped
  • Steep-sloped
  • Others

Application Outlook (Volume, Kilo Tons and Revenue, USD Million; 2019-2030)

  • Commercial
  • Residential
  • Industrial
  • Others

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Roof Coatings Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Roof Coatings Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Roof Coatings Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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