Global Cool Roof Market, By Type (Steep-Slope Roofs, Low-Slope Roofs), Product (Coated Roofs, Foam Roofs, Modified BUR, Single-Ply Membranes, Asphalt Shingles, Metal Roofs, Tiles, Slates), Reflective Coatings (White Roof Coatings, Pigmented Coatings, Aluminum Roof Coatings, Roofing Membranes, Single-Ply Thermoplastic Membranes, Others), Application (Residential, Commercial, Industrial) – Industry Trends and Forecast to 2029
Market Analysis and Size
There has been massive expansion of the construction industry over the recent years. The construction industry is gaining significant traction due to an increase in the number of green building projects, which favors the cool roof market. Moreover, the favorable factors such as rapid urbanization, increased infrastructure as a result of rapid urbanization and trade transaction flexibility are all driving the global cool roofs market.
Global Cool Roof Market was valued at USD 21.12 billion in 2021 and is expected to reach USD 37.00 billion by 2029, registering a CAGR 6.43% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Steep-Slope Roofs, Low-Slope Roofs), Product (Coated Roofs, Foam Roofs, Modified BUR, Single-Ply Membranes, Asphalt Shingles, Metal Roofs, Tiles, Slates), Reflective Coatings (White Roof Coatings, Pigmented Coatings, Aluminum Roof Coatings, Roofing Membranes, Single-Ply Thermoplastic Membranes, Others), Application (Residential, Commercial, Industrial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Dupont (U.S.), PABCO Building Products, LLC. (U.S.), Malarkey Roofing (U.S.), DAIKIN (Japan), Dow (U.S.), Freudenberg SE (Germany), The Chemours Company (U.S.), BASF SE (Germany), Rogers Corporation (U.S.), 3M (U.S.), H.B. Fuller Company (U.S.), Henkel AG & Co. KGaA (Germany), Mapei S.p.A (Italy), CHRYSO GROUP (France), Owens Corning (U.S.), GAF (U.S.), Certain Teed (U.S.), IKO Industries Ltd. (Canada), Tamko Building Products, LLC (U.S.), Henry Company (U.S.), ATAS International Inc. (U.S.), SOLVAY (Belgium) and Polyglass S.p.A (Italy)
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Market Opportunities
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Market Definition
Cool roofing is a green construction technique. Cool roofs are built to absorb less heat and reflect more light than traditional roofs. Cool roofing systems are used to address overheating issues in buildings. Rooftops can cause buildings to overheat. Cool roofs absorb less heat than standard roofs by utilizing materials that reflect sunlight. A cool roof can help save money on energy bills by reducing the need for air conditioning and improving indoor comfort in non-air-conditioned spaces.
Cool Roof Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growth in Popularity of Green Building Materials
Cool roofs use sunlight to absorb less heat than standard roofs. The advantages and benefits of cool roof systems can also benefit the environment, particularly when many buildings in a neighborhood have them. Cool roofs can help mitigate the urban heat island effect by lowering local air temperatures. By reducing cooling energy use in buildings, cool roofs can help reduce peak electricity demand, which can help prevent power outages and reduce power plant emissions, such as carbon dioxide, Sulphur dioxide, nitrous oxides, and mercury. Heat island effects can be avoided with the use of cool roofing systems. As a result, cool roof systems have a lot of potential for improving the energy efficiency of buildings and communities.
- Increased Usage within Agricultural Sector
Cool roofs are essential in the agricultural sector because they trap sunlight while releasing no heat. This helps crops retain their nutritional value. As a result, cool roofing systems are gradually replacing traditional roofing systems within the sector. This factors is projected to increase the cool roof market growth rate over the forecast period.
- Urbanization, Population and Living Standards
According to United Nations (UN) data, more than 54% of the global population lives in cities, creating job opportunities and raising individual income levels. Building construction in urban and rural areas increases as the number of nuclear families grows. A cool roof system can help a building and its occupants save money on energy by reducing air conditioning needs, improving indoor comfort in non-air-conditioned areas, and extending roof service life. As a result, the global cool roof market is expected to grow as a result of the aforementioned factors of growing population, urbanization, and rising consumer standards of living.
The rising importance of energy conservation and the global implementation of environmental regulations related to building design and architecture are expected to be the primary drivers of the cool roof market. The global cool roof market is also being driven by the growing popularity of energy-efficient and environmentally friendly roofing systems. Furthermore, the increased green building projects are expected to boost the cool roof market during the forecast period. Additionally, the growth of residential and commercial industries will also drive market value growth.
Opportunities
- Eco-Friendly Roofing System And Provision Of Subsidies
Furthermore, the rising preferences towards energy efficient and eco-friendly roofing systems extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the provision of subsidies and tax benefits from government will further expand the future growth of the cool roof market.
Restraints/Challenges
- High Costs of Raw Materials and Maintenance
The costs of the raw materials is very high. Moreover, the high cost of maintenance and repair required to use the roof for a long time also restricts the cool roof market. Furthermore, the cost per square foot of cool proof is high, and many construction companies and builders have avoided using cool roof products in recent years due to the high costs. As a result, the manufacturer's ability to provide low-cost roofing materials is being hampered.
- Lower Awareness
Also, less awareness about the benefits of the cool roof products amongst the population is estimated to be a demerit for the cool roof market. Therefore, this factor will challenge the cool roof market growth rate.
This cool roof market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cool roof market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cool Roof Market
The recent outbreak of coronavirus had a negative impact on the cool roof market. To stop the virus from spreading, many governments planned to implement a nationwide lockdown. As a result, many markets suffered significant losses. The cool roof market has been severely impacted by the lockdown, as construction has been halted for several months. As a result, there was a labor shortage, transportation was slow, and the cost of raw materials increased. As a result, there were delivery and production delays, which increased demand for cool roof materials. Because of the lockdown and lack of logistics in the region, construction materials manufacturing companies in China are the most affected by the virus outbreak. Over the course of the current economic year, decreased consumer demand and consumption have resulted in reduced sales of construction materials and slowed all over the world. These aforementioned determinants largely weighed on the market's revenue trajectory.
On the plus side, as individual regulatory bodies begin to relax these imposed lockdowns, the market is expected to recover. As a result of the suspended and cancelled operations, the market is expected to expand.
Global Cool Roof Market Scope
The cool roof market is segmented on the basis of type, product, reflective coatings and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Steep-Slope Roofs
- Low-Slope Roofs
Product
- Coated Roofs
- Foam Roofs
- Modified BUR
- Single-Ply Membranes
- Asphalt Shingles
- Metal Roofs
- Tiles
- Slates
Reflective Coatings
- White Roof Coatings
- Pigmented Coatings
- Aluminium Roof Coatings
- Roofing Membranes
- Single-Ply Thermoplastic Membranes
- Others
Application
- Residential
- Commercial
- Industrial
Cool Roof Market Regional Analysis/Insights
The cool roof market is analyzed and market size insights and trends are provided by country, type, product, reflective coatings and application as referenced above.
The countries covered in the cool roof market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cool roof market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increasing number of large-scale infrastructure investment projects including hotels and hospitals.
On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the high growth in construction spending and increasing consumer disposable income due to rapid urbanization in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cool Roof Market Share Analysis
The cool roof market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cool roof market.
Some of the major players operating in the cool roof market are
- Dupont (U.S.)
- PABCO Building Products, LLC. (U.S.)
- Malarkey Roofing (U.S.)
- DAIKIN (Japan)
- Dow (U.S.)
- Freudenberg SE (Germany)
- The Chemours Company (U.S.)
- BASF SE (Germany)
- Rogers Corporation (U.S.)
- 3M (U.S.)
- H.B. Fuller Company (U.S.)
- Henkel AG & Co. KGaA (Germany)
- Mapei S.p.A (Italy)
- CHRYSO GROUP (France)
- Owens Corning (U.S.)
- GAF (U.S.)
- Certain Teed (U.S.)
- IKO Industries Ltd. (Canada)
- Tamko Building Products, LLC (U.S.)
- Henry Company (U.S.)
- ATAS International Inc. (U.S.)
- SOLVAY (Belgium)
- Polyglass S.p.A (Italy)
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