Cool Roof Market

A cool roof is a type of roofing product that has a higher solar reflectance and thermal emittance properties as compared to the standard roofs. A cool roof is made of highly reflective materials and is designed to reflect more sunlight and reduce heat transfer to the building by absorbing less heat. These roofs are made of various highly reflective types of materials, including solar radiation control coatings, sheet covering, tiles, shingles, and other materials. The cool roof helps in enhancing the durability of the roof and saves energy by using less air conditioning. Moreover, they reduce air temperature inside buildings, which helps in preventing heat-related illnesses and deaths.

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The key factors driving the growth of the cool roof market include the continuous expansion of the construction sector, coupled with the increasing demand for energy-efficient roofing systems from residential, commercial, and industrial sectors across the world. The cool roof has a higher resistance to the damages caused by solar radiations, hailstorms, and windstorm owing to which is being increasingly used in commercial and industrial infrastructures. Additionally, it offers roof longevity, low maintenance requirement, and eco-friendly roofing solution. All these factors will further boost the growth of the cool roof market over the forecast period. Increasing demand for the cool roof in the residential sector is anticipated to augment the growth of the market during the forecast period due to several benefits provided by cool roof systems such as higher durability and protection from extreme weathering, along with enhancing the aesthetic appeal of a building.

Strict environmental regulations implemented by the governments, surging awareness for the conservation of energy, along with the increasing inclination towards building resource-efficient infrastructures around the world will trigger the demand of the cool roof market. However, fluctuations in raw material prices and less awareness regarding the benefits of cool roofs are hampering the growth of the cool roof market. The recent outbreak of COVID 19 is expected to have a significant impact on the construction sector, thereby having a negative impact on the cool roof market during the forecast period.

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Based on the slope type, the market has been segmented into steep-slope roofs and low-slope roofs. The low-slope roofs segment is expected to grow at a higher CAGR during the forecast period. This is attributed to its several beneficial properties, such as low installation cost, less repair, and maintenance as they are installed on a flat surface. Materials used in making low-sloped roofs such as foam, coatings, modified bitumen, and single-ply membranes, have the ability to reflect more to the solar radiation as compared to steep-sloped roofing materials, owing to which it has a huge demand in the industrial sector. On the other hand, the steep-sloped cool roofs segment is expected to lead the market during the forecast period primarily due to its increasing demand in the residential sector. Major properties of steep-sloped roofs, including its inclined roof line that prevent the accumulation of dirt and better visual appearance due to the use of asphalt shingles, tiles, and shakes are further augmenting the market growth.

Based on product type, the market has been segmented into coated roofs, foam roofs, modified BUR, Single-ply membranes, asphalt shingles, metal roofs, tiles, and slates. The single-ply membrane segment is expected to grow at a higher CAGR during the forecast period due to its several useful features such as waterproof surface, flexibility, and durability under diverse climatic conditions.

Based on the application, the commercial segment is anticipated to dominate the market over the forecast period. This is mainly due to the rising investments in the construction of new commercial spaces across the world. Additionally, the increasing emphasis of government on the development of green buildings has further increased the demand for cool roofs in the commercial sector across the globe. On the other hand, the residential segment is projected to grow at a higher CAGR during the forecast period owing to the growing preference towards constructing an eco-friendly and energy-efficient roofing system.

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Based on the region, the Asia-Pacific region is anticipated to witness a higher CAGR in the cool roof market during the forecast period. The rising per capita disposable incomes and the increasing demand for residential buildings across the region are the two major drivers contributing to the market growth in this region. Additionally, the growing demand for energy-efficient infrastructures, coupled with the surging number of commercial and industrial buildings including shopping malls, educational institutes, factories, power plants, and other facilities in developing countries including China, Japan, India, and South Korea are further propelling the demand of cool roofs, thereby, driving the growth of the market in the region.

Various notable players operating in the global Cool Roof market include IKO Industries Ltd., Owens Corning, Boral Limited, Sika AG, Tamko Building Products LLC, GAF Materials Corporation, CertainTeed Corporation, ATAS International, Inc., The Dow Chemical Company, and Carlisle Companies Inc., among others.

 Key Developments: 

• • In 2020, Sika AG acquired Modern Waterproofing Group, one of the leading manufacturers of roofing systems, liquid coatings, insulation boards, and waterproofing systems in Egypt. The acquisition is expected to enhance the product portfolio of Sika AG in roofing, waterproofing, and building envelope systems.
  • In 2020, Nouryon, a specialty chemical producing company, launched an elastomeric cool roof coatings solution for the building and construction market. The elastomeric cool roof coatings solution helps in enhancing the effectiveness of energy-saving “cool roof” coatings by improving their ability to reflect light and develop their self-cleaning properties. Additionally, it combines Nouryon’s Expancel expandable thermoplastic microspheres, which reflect light, and Levasil colloidal silica, thereby improving the performance of the coatings.
  • In 2019, Carlisle Companies Incorporated acquired Petersen Aluminum Corporation, a producer of architectural metal roof panels, steel and aluminium flat sheets and coils, wall panels, perimeter roof edge systems, and other such products in the commercial, residential, institutional, industrial, and agricultural sectors. This acquisition is expected to enhance the product portfolio of Carlisle Companies Incorporated in the metal roofing market, including single-ply roofing systems.
  • In 2018, Nygra Coatings launched a durable coating in the cool paint segment. This Nygra Coating is a robust and lightweight coating that repels heat-causing IR radiation, which helps in reducing air conditioning requirements in hot climates. These Nygra coatings have major opportunities in education, healthcare, commercial and industrial facilities that use cool roofing system to reduce temperatures, manage cooling costs, reduce energy use, and support sustainability initiatives.

The global cool roof market has been segmented on the basis of slope type, product type, application, and regions. Based on slope type, the market is segmented into steep-slope roofs and low-slope roofs. On the basis of product type, the market has been segmented into coated roofs, foam roofs, modified BUR, Single-ply membranes, asphalt shingles, metal roofs, tiles and slates and others.

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Key questions answered in this research report:

• • At what pace is global Cool Roof market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Cool Roof market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Cool Roof market?
  • Which slope type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various applications of global Cool Roof market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Cool Roof Market by Slope Type

• • Steep-Slope Roof
  • Low-Slope Roof

Global Cool Roof Market by Product Type

• • Coated Roofs
  • Foam Roofs
  • Modified BUR
  • Single-Ply Membranes
  • Asphalt Shingles
  • Metal Roofs
  • Tiles and Slates
  • Others

Global Cool Roof Market by Application

• • Residential
  • Commercial
  • Industrial

Global Cool Roof Market by Region

• • North America Cool Roof Market (Option 1: As a part of the free 25% customization)
    • North America Cool Roof Market by Slope Type
    • North America Cool Roof Market by Product Type
    • North America Cool Roof Market by Application
    • US Cool Roof Market All-Up
    • Canada Cool Roof Market All-Up
  • Europe Cool Roof Market (Option 2: As a part of the free 25% customization)
    • Europe Cool Roof Market by Slope Type
    • Europe Cool Roof Market by Product Type
    • Europe Cool Roof Market by Application
    • UK Cool Roof Market All-Up
    • Germany Cool Roof Market All-Up
    • France Cool Roof Market All-Up
    • Spain Cool Roof Market All-Up
    • Rest of Europe Cool Roof Market All-Up
  • Asia-Pacific Cool Roof Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Cool Roof Market by Slope Type
    • Asia-Pacific Cool Roof Market by Product Type
    • Asia-Pacific Cool Roof Market by Application
    • China Cool Roof Market All-Up
    • India Cool Roof Market All-Up
    • Japan Cool Roof Market All-Up
    • Rest of APAC Cool Roof Market All-Up
  • RoW Cool Roof Market (Option 4: As a part of the free 25% customization)
    • RoW Cool Roof Market by Slope Type
    • RoW Cool Roof Market by Product Type
    • RoW Cool Roof Market by Application
    • Brazil Cool Roof Market All-Up
    • South Africa Cool Roof Market All-Up
    • Saudi Arabia Cool Roof Market All-Up
    • UAE Cool Roof Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Cool Roof Market All-Up

Global Cool Roof Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IKO Industries Ltd.
  • Owens Corning
  • Boral Limited
  • Sika AG
  • Tamko Building Products LLC
  • GAF Materials Corporation
  • CertainTeed Corporation
  • ATAS International, Inc.
  • The Dow Chemical Company
  • Carlisle Companies Inc.