The Cool Roof Industry
The market size of the worldwide cool roof industry is predicted to reach $31.58 billion by 2028 as well as a CAGR income of 5.5% within the predicted period, based on the latest reports provided by the Reports and Data. The major driver of market revenue development is an increase in urbanization, construction projects and activities globally, an increase in the use of sustainable and ecofriendly construction raw materials, and an increase in the installation of eco-friendly heating and cooling systems in commercial and residential structures.
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Other drivers of market revenue development in the cool roof industry are an increase in the industrialization of developing nations, reduction in GHG (Greenhouse Gas) emissions and increasing concerns that deal with climate change and global warming, high focus on energy-efficient and environmentally friendly home designs and roofing systems.
Cool roof is a very popular roofing system that offers high solar reflectance and heat emittance, which helps to limit the transfer of heat in a building. A cool roof comprises highly reflective surfaces that are effective in limiting ambient air temperatures (called the urban heat island effect. Cool roofs are more durable and energy-efficient than conventional and regular roofing systems. Cool roofs are effective in reducing the cost of energy and electricity needed for air conditioning while improving indoor comfort in areas like the garages and covered patios that are usually not well ventilated or air-conditioned. Cool roof coatings are usually developed from special or white pigments that reflect rays of sunlight and act as a protective agent against toxic UV (ultraviolet) rays and chemical damage.
Some of the key players in the worldwide cool roof industry are Malarkey Roofing, LLC, ATAS International Inc, PABCO Building Products, Firestone Building Products, IKO Industries, Tamko Building Products, CertainTeed Corporation, Owens Coming, and GAF Material Corporation.
Overview of the research report
The type categories comprise the steep-slope roof category which in 2020, generates the largest revenue share of 45%. This large revenue share of this category is based on the significant use of steep-slope cool roofs in both commercial and residential buildings. This cool roof type is cheap to install compared to other types of cool roofs and comprises asphalt shingles and metal roof tiles.
The most significant aspect of the product type category Is the asphalt shingles which generated the highest revenue share in 2020.
The benefits of installing the asphalt shingles are reduced solar reflectance and high light-scattering properties due to its rough textures which are the major drivers for the development of the category. Another major driver for the growth of this category is the high use of shingles for commercial and residential purposes.
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The application category comprises the industrial category that is the most significant category that generates the highest revenue share according to the worldwide cool roof industry in 2020. The most significant factors driving the development of this category are increasing worldwide industrialization, high use of cool roof systems for both industrial and residential use, improved building efficiency, limited use of energy, and power plant emissions.
Based on the regional markets, the fastest market that generated the highest revenue growth in 2020 is the Asia Pacific cool roof market which has a CAGR of 6.6% within the predicted period. A few of the major factors that are driving revenue growth in the Asia Pacific cool roof market are rapid urbanization, increasing demand for environmentally friendly and energy-efficient roofing systems, and high industrial activities in the regional countries, especially in developing economies like China and India.
The study report features a comprehensive evaluation of the market through high-level research principles like SWOT analysis as well as Porter’s Five Forces evaluation. The report also reviews the top business players together with their product portfolio and business strategies.
Additionally, the report has been developed using comprehensive primary and secondary research which has been verified by professional analysts, market experts, and industry professionals. The report provides insights into the current acquisitions and mergers, collaborations, joint ventures, product launches, partnerships, and the likes.
Regional evaluation evaluates the import/export assessments, ratio of consumption and production, cost, estimated revenue and gross margins, price, demand, and supply, as well as the major players in the region. Also, the report covers the revenue development, market share, market size, technological developments, as well as the major players in the region.
Regional diversification of the cool roof industry comprises:
North America (Canada, US, Mexico)
Asia Pacific (Japan, Australia, India, South Korea, China, Other APAC)
Europe (Italy, U.K., France, Germany, Other Parts of Europe)
Middle East & Africa (South Africa, Saudi Arabia, UAE, Other Parts of MEA)
Latin America (Brazil, Argentina, Chile, Other Parts of Latin America).