Cool roofing is an efficient roofing system which is designed specifically to reflect the radiation or sun’s heat away from the surface. Cool Roof technology has been well studied, which shows good potential in reducing the temperature of the roofs, thus maintaining a cool environment in the building interior. It supports in saving money by several ways such as energy savings, reducing the adoption HVAC equipment and extending the lifespan of the roofs.
Growing concern towards the factors such as energy consumption and increased carbon emission has resulted in adoption of green building specifically for achieving the energy efficiency. Green building adopts cool roofing and other materials for reducing the carbon emissions; hence this factor contributes in a significant manner in driving the market growth. Adoption of cool roofing has contributed in reducing the need of air conditioning system, hence playing a major role in economic gains. However, lack of awareness among the people regarding the concept of green buildings with the absence of strict norms and regulation for reducing the energy consumption may result in hindering the market growth.
The global cool roofing market is majorly segmented on the basis of product, application and end-use. Based on the product type, market is bifurcated into: elastomeric, IR reflective, while depending upon the applications, market is segmented into: slow slopped and steep slopped. Based on the end-use, market is segmented into: commercial, industrial and residential.
The geographical analysis of cool roofing market is majorly analysed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Among the regions studied, North America is anticipated to hold the major market share in the forecast period mainly owing to the early implementation of green buildings and increased awareness among the people regarding the increased energy consumption in the buildings. The initiatives taken to reduce the carbon foot prints by the US council also supports in raising the market growth. Asia Pacific is expected to emerge as a fastest growing region owing to increased adoption of cool roofing technology specifically in Japan and adoption of green building technology in China, India and Australia.
The major key players operating in the market are: Excel Coatings, GAF Materials , Monarch Industries , Nippon Paints , Nutech Paints, Sherwin-Williams , Sika Sarnafil , The Dow Chemical Company , Valspar.
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