IndustryARC, in one of its latest reports, predicted that the roof coating market size is expected to be valued at US$1.6 billion by the end of the year 2026 and is set to grow at a CAGR of 3.8% during the forecast period 2021-2026. Various types of coating such as urethane roofing, asphaltic coating and others help in providing flexibility, durability, resistance to corrosion and others. This is increasing the demand for roof coating systems from many key-use industries. Products such as roofing emulsion (painting emulsion containing fillers which provides waterproof coatings) and corrugated roof paint for corrugated metal roofing are also in high demand owing to the various government standards and regulations regarding roofing system. This is one of the significant factors driving the demand for the roof coating market. The roof coating market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the roof coating industry are:
1. Royal Building Products Inc
3. Alltimes Coatings Ltd
4. Applied Graphene Materials
5. BASF SE
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1. Water based coating segment held the largest share in the roof coating market in the year 2020. The various advantages provided by water-based coating such as even distribution, waterproofing, durability and seamless layer is majorly driving the demand for water-based coating in the roof coating market.
2. Plastic & Elastomeric segment held the largest share in the roof coating market in the year 2020. Plastic and elastomeric roofing also has this advantage of easy application of paints and coating such as corrugated roof paint without much damage and process involved. This is majorly driving the roof coating market.
3. There are various types of fat roof systems such as rubber roofing, fiberglass roofing, urethane roofing and asphaltic coating. The major advantages associated with flat roofing system such as less construction cost, less maintenance and repair activities and others are some of the major factors driving the demand for flat roof systems in the roof coating market. Additionally, advantages such as protection from UV rays and the involvement of less cost and toxicity is driving the demand for products such as asphaltic coating and roofing emulsion.
4. Commercial construction industry held the largest share growing at a CAGR of 3.34 in the roof coating market in the year 2020. The increase in the number of government initiatives and investments in developing the public infrastructure is one of the major factors driving the roof coating market.
5. Asia-Pacific region held the largest share of 37% in the roof coating market in the year 2020. The increase in the population coupled with the growing need for infrastructure is majorly driving the demand for roof coating market in the region. This is increasing the demand for products such as urethane roofing and roofing emulsion.
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Market Drivers and Challenges:
1. The surge in the activities of the construction industry is majorly driving the roof coating market: The increase in the number of construction activities across the globe is majorly increasing the demand for roof coatings such as urethane roofing and asphaltic coating, which is majorly driving the roof coating market.
2. Increasing demand for eco-friendly and sustainable building structures is increasing the demand for roof coating market: The increase in organizations and associations emphasizing the importance of sustainable buildings is one of the major factors driving the demand for roof coating industry.
3. Emission of high volatile organic compounds from the production of roof coatings is majorly impacting the growth of the roof coating market: The process of manufacture of roof coating releases high Volatile Organic Compound (VOC) in the surroundings which is highly dangerous for the environment. The emission of volatile organic compounds causes several harmful health related effects on the workers and also to the end-users.
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