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Roof Coatings are Looking Up

Wednesday, May 13, 2015

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DALLAS—Jump-started by surging regulations, products, construction and disposable income, the global roof coatings market is primed for growth in the years ahead, a new forecast reports.

North America will continue to dominate the global market, accounting for about half of the worldwide value—but China will be the fastest-growing player for the next five years, according to Roof Coating Market by Type, Roof Type, Application & Geography - Global Forecast to 2020, just released by Dallas-based Markets and Markets.

Roof Coating Market Share by Region (2014)
RoofCoatingMarket
Images: Markets and Markets

On an upward trajectory since 2009, the global roof coating market is projected to reach $1.3 billion by 2020, reflecting a Compound Annual Growth Rate (CAGR) of 5.79 percent from 2015 to 2020, the company projects.

Drivers and Customers

New construction and the demand for cool roof coatings will drive much of the growth, the report says. Other spurs include increasing disposable income in developing countries, regulations to incorporate cool roofing, and greater preference for sustainable building.

The elastomeric and plastic coating segment is projected to grow at the highest CAGR of 5.94 percent from 2015 to 2020. The roof coating market was dominated by bituminous and tiles roof coatings segments, which accounted for 70 percent of the total market in 2014, the report says.

Roof Coating Market Size by Type (2014-20)
CoatingType

Note: Dollar figures were unavailable in the company's report announcement.

Europe is expected to remain the industry's No. 2 market over the study period, with Asia-Pacific third. However, China's vast population and building boom will ignite faster growth in that country than in any other over the next five years, the report said.

Market competition will remain intense worldwide over the next five years, with new product launches, mergers and acquisitions, partnerships and expansions all likely to increase as players scramble to ensure their growth, the report said.

Key players in the market are AkzoNobel NV, PPG Industries Inc., Sherwin-Williams, Valspar Corp., BASF SE, Nippon Paint Co. Ltd., RPM International Inc., Dow Chemical, and Hempel A/S, the forecast said.

   

Tagged categories: Asia Pacific; Coating Materials; Cool roof coatings; EMEA (Europe, Middle East and Africa); Energy efficiency; Latin America; Market forecasts; Metal coatings; North America; Roof coatings; Roofing materials

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