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Sales of Cool Roof Coatings to Remain Mostly Concentrated in Residential Industry

Fact.MR's latest report on the cool roof coating market offers 10-year forecast for 2022 and 2032. The report explicates on vital dynamics, such as drivers, restraints and emerging opportunities shaping the market dynamics. It uncovers hidden opportunities across various segments in terms of roof type, material type, technology and application.

NEW YORK , July 6, 2022 /PRNewswire/ -- According to the latest Fact.MR analysis, the global cool roof coating market size is estimated to be worth around US$ 4.5 Bn in 2022. With blooming residential and commercial industries, the overall market is anticipated grow at a healthy CAGR of 6.8% between 2022 and 2032, reaching a valuation of US$ 8.3 Bn by 2032.

Growing demand for cool roof coatings across commercial and residential sectors, increasing consumer awareness regarding the benefits of cool roof coating, advancement in cool roof coating technology and favorable government support are some of the factors driving the global cool roof coating market.

In a modern world where energy prices are skyrocketing, cool roof coatings have become ideal solutions for both reducing energy consumption as well as costs. They have gained huge traction in the growing green construction sector.

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Cool roof coatings are special reflective pigments or substances that reflect majority of sunlight, thereby lowering the temperature of the buildings. They are designed to protect the roof surfaces from ultra violet light, chemical damage and other corrosive agents.

Increasing usage of cool roof coatings for improving comfort and safety as well as reducing energy bills is projected to boost the growth of cool roof coating market. Employment of these coatings significantly reduce the dependency on air conditioning and other cooling systems.

Rising consumer inclination towards energy saving coupled with favorable government support will continue to push the sales of cool roof coatings. Governments across the world are launching various initiatives and programs to promote cool roof building. For instance, in 2019, the government of Telangana, India initiated a pilot Cool Roof program to save energy, increase thermal comfort and reduce cooling demand in the long run, across the state.

Moreover, large amounts are being invested in research activities for developing innovative products which can provide superior and durable features. For instance, in December 2021 , scientists of Berkeley Lab developed a smart roof coating that keeps homes cool in summer and warm during the winter.

As per Fact.MR, residential segment will emerge as the most lucrative application for cool roof coatings, growing at a CAGR of 8% between 2022 and 2032. Increasing population, rapid urbanization and rising government initiatives to promote the construction of cool roofs in residential buildings are some of the factors augmenting the sales of cool roof coatings

With a market value of US$ 1.4 Bn (2022), North America is anticipated to continue its dominance in the global cool roof coating market during the forecast period. Growth in the region is attributed to rising consumer preference, presence of leading market players, rapid urbanization and increasing governmental support for green building.

"Rising concerns regarding global warming, high energy consumption and carbon emission levels is prompting governments across the world to promote green building establishments. As a result, various cool roof programs are being launched. This is in turn boosting the sales of cool roof coatings," says a Fact.MR analyst

Key Takeaways from Cool Roof Coating Market Survey

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Leading players operating in the cool roof coating market are focusing on introducing advanced products with ecofriendly features. Besides this, they have adopted various organic and inorganic growth strategies such as mergers, acquisitions, partnerships and collaborations to expand their global footprint.

Some of the prominent players operating in the cool roof coating market profiled by Fact.MR are:

More Insights on the Global Cool Roof Coating Sales Outlook

Fact MR provides an unbiased analysis of cool roof coating market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global demand for cool roof coating with a detailed segmentation on the basis of:

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Key Questions Covered in the Cool Roof Coating Market Outlook Report

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