Roof Paint Market

Roof Paint Market Size & Growth (2023-2028)

The Roof Paint market is valued at US$ 1.92 billion in 2022 and is anticipated to increase to US$ 2.38 Billion by 2028, with a growing CAGR of 3.92%

A roof coating is a monolithic, totally adherent fluid-applied roofing membrane. Elastomeric roof coatings, for example, have elastic qualities that enable them to expand and return to their original shape without causing harm. Paint film thickness (plus or minus 0.075 mm (3 dry mils) to even more than 1 mm are typical roof coating dry film thicknesses (40 dry mils). As a result, a roof coating serves as the top layer of a composite roof membrane and the underlying system. As a result, the roof coating serves as the membrane's top layer of protection, shielding it from sunlight (including IR and UV rain, hail, and physical harm. Roof coatings are not the same as deck coatings. Deck coatings are traffic-bearing, which means they're made to waterproof areas where pedestrian (and, in certain situations, vehicle) activity is likely. Roof coatings will only waterproof the substrates and will not survive continued human or vehicular traffic (such as walkways, patios, sundecks, restaurants, etc.).

Roof Paint Market Drivers:

The industry is being driven by increasing demand for rigid and structural roofing. Many modern buildings have long-lasting roofs. These roofs have such a long life expectancy and are quite durable. Roofs that are stiff are suited for all types of weather. They can withstand severe weather and safeguard the building. Many end-users are attracted to the qualities of high-quality roofing. Furthermore, the expansion of commercial properties is a key market driver. Cities have a plethora of commercial structures. These young plants need to be well-protected. For these commercial structures, roof paints are the ideal alternative. Roof coatings will be in high demand as they become more widely used in this structure. Another important market driver is the desire for energy efficiency.

The market is benefiting from strong industrialization in emerging countries. The manufacturing of roof paint materials is expanding as the world becomes more industrialized. Roof Paintings will expand in popularity, especially in emerging nations. Furthermore, factories are the most common places where roof coatings are required. The roof coating may manage the temperatures in the rooms without the need of air ventilation equipment. All of these expansion options will help the roof coatings sector earn a lot of money. Electricity is a significant expense in both homes and businesses. This expense must be reduced. Roof coatings are becoming more popular as a result of this. Many governments support the use of roof coatings. Investments are increasing as a result of the numerous cost savings and energy efficiency benefits.

Roof Paint market Restraints:

This market's stifling factor is the excessive cost of production. The cost of roof coatings and materials is high. Silicone, elastomeric, and bituminous materials are all expensive. The high manufacturing cost is reflected in the product's total cost. It is a significant constraint in the market for roof coatings. The rate of income might be affected by high output. This market limitation may have an impact on total supply rates throughout the projection period. In this epidemic, growing manufacturing costs are causing losses. A market with large output, in particular, has been unable to sustain and generate returns.

ROOF PAINT MARKET REPORT COVERAGE:

Market Segmentation:

Roof Paint market By Type:

• Bituminous

• Elastomeric

• Acrylic

• Epoxy

• Silicone

The CAGR for the elastomeric sector is expected to be the greatest. The elastomeric coating segment's dominant market position may be due to its compatibility with practically all types of roof constructions. Elastomeric roof paints have high elasticity and are durable in both cold and warm climates; they stretch when the roof expands in warm weather and contract whenever the roofing contracts in cold weather. Furthermore, elastomeric roof paints are resistant to fungus and mildew, both of which cause roof deterioration over time.

Roof Paint Market By Substrate:

• Metal

• Asphalt

• Membrane

• Concrete

• Plastic

Asphalt is said to be the dominant one in the global roof paint market. Bitumen, or asphalt, is a slippery, black, very viscous liquid or semi-solid petroleum product. It is classified as a pitch and can be obtained from natural deposits or as a refined product.

_{Roof Paint Market By Technology:}

• Water-based
• Solvent-based

The water-based is said to be the dominant one in the global market. As water solvent is helping in the development of roof paintings, Water-based coatings have fewer scents (which is why hospitals and colleges like them), are less expensive, and may not last as long, according to Ripps. This durable roof paint is a great choice because of its particular personality. It is one of the most long-lasting and efficient paints of terraces and roofs, providing protection against all pH levels of water. Its elasticity causes it to compress, allowing water to escape from its surface.

The  Roof Paint market Report includes the segmentation of Regions:

• North America
• Europe 
• Asia Pacific
• Latin America
• The Middle East and Africa 

Impact of COVID-19 (Global Roof Paint market):

Covid 19 is causing unanticipated adjustments in a variety of markets. This time has an impact on day-to-day market activities. During this time, several markets' production is declining. In addition, the trend of diminishing demand is impeding industry expansion. Roof coatings are losing market share. The building, roofing, and coatings industries are all experiencing slow development throughout the world. Roof coatings are becoming less necessary as the number of new projects decreases. In addition, the raw resources for roof coating are limited. The lower the supply and output, the lower the market's revenue. In the market, there is a downward tendency. Demand is likely to increase in the future years. The market's products and services are projected to improve. As a result, the market's post-Covid 19 positions is expected to be good.

Recent Developments:

22^nd November 2021: COOL-TEC cool coatings have been introduced by Nippon Paint. The COOL-TEC cool coating varieties from Nippon Paints demonstrate that the company foresaw and met the market's need to counteract rising temperatures, highlighting the company's leadership role in providing innovative functional paints and coatings. The COOL-TEC series from Nippon Paint is said to be Singapore's first full cooling coatings range for external walls, roofs, and roadways. COOL-TEC paints use cutting-edge solar reflecting technology to reflect solar radiation as well as emission from paintwork back into the atmosphere while keeping the surrounding air cool.

29^th September 2020: Solar reflecting coatings are a cost-effective and long-term solution to environmental issues. BASF produces water-based acrylic coating solutions with an emphasis on adhesion to tough substrates such as TPO, EPDM, asphalt, and smooth APP, with more in the pipeline. These solutions provide high overall performance as well as a long-term value proposition with little environmental effect.

Roof Paint Market Key Players:

The key players in the Global Roof Paint market are:

• BASF SE (Germany)
• Akzo Nobel N.V.  (Netherlands)
• RPM International Inc. (US)
• PPG Industries, Inc. (US)
• The Sherwin-Williams Company (US)
• Hempel A/S (Denmark)
• The Dow Chemical Company (US)
• Wacker Chemie AG (Germany)
• Sika AG (Switzerland)
• Nippon Paint Holdings Co., Ltd (Japan).