Roofing coatings are protective coatings used to shield rooftops from ultraviolet radiation, sunlight, and contaminants. Roofing coatings prevent moisture ingress, reduce energy costs, and extend the lifespan of roofs. They are used on commercial and residential rooftops.

The global Roofing Coatings Market is estimated to be valued at US$ 3.62 Bn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the roofing coatings market is the growing popularity of eco-friendly green roofing coatings. Green roofing coatings help reduce the urban heat-island effect and improve stormwater management. They are made from sustainable materials and possess self-cleaning and water-resistant properties. Green roofing coatings assist in lowering air conditioning costs and mitigating greenhouse gas emissions. Their aesthetically appealing looks are further driving their demand. Switchable and light-reflecting roofing coatings that can help reduce energy usage are another trend gaining traction in the market.

SWOT Analysis

Strength: Roof coatings provide long lasting protection against UV rays, temperature fluctuations and water ingress. They increase the lifespan of roofs significantly.
Weakness: Traditional coatings release VOCs which are hazardous for the environment. Their dry time is also longer.
Opportunity: Growth in construction industry worldwide due to rising infrastructural investments. Increasing demand for green, eco-friendly coatings without VOCs.
Threats: Fluctuations in raw material prices can increase the price of roof coatings. Strict environmental regulations regarding VOC emissions.

Key Takeaways

The Global Roofing Coatings Market Size is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing infrastructural investments worldwide. Countries like China, India are witnessing a boom in their construction activities which is driving the market.

Regional analysis
Asia Pacific dominates the global market and is expected to continue its dominance holding over 30% market share during the forecast period. This is attributed to rapid infrastructural development projects underway in the region. China is the largest roof coatings consumer in Asia Pacific. North America and Europe are also significant markets due to growth in re-roofing activities.

Key players
Key players operating in the Roofing Coatings market are DOW Company, Wacker Chemie AG, Sherwin-Williams, Company, PPG Industries, BASF SE, RPM International Inc., Akzo Nobel N.V., Sika AG, Kansai Paint Co., Hempel A/S. These players are focusing on developing sustainable, eco-friendly product offerings with lower VOC content to adhere to strict environmental norms.

For more details on the report, Read-

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