Newark, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 21.1 billion cool roof market will reach USD 35.0 billion by 2032. One method of green construction is cool roofing. Cool roofs are designed to reflect more light and absorb less heat than conventional roofs. Building overheating problems are addressed with cool roofing systems. Buildings can overheat due to their rooftops. Cool roofs use materials that reflect sunlight, so they absorb less heat than regular roofs. By lowering the demand for air conditioning and enhancing indoor comfort in non-air-conditioned areas, a cool roof can assist in lowering energy costs. The construction industry has grown significantly in the last several years. The number of green building projects is rising, which is good news for the cool roof market and the construction industry. Furthermore, the worldwide market for cool roofing is driven by advantageous characteristics like quick urbanisation, enhanced infrastructure due to quick urbanisation, and trade transaction flexibility.
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Key Insights on Cool Roof Market
Asia Pacific will account for the largest market size during the forecast period.
Due to their fast urbanisation, the emerging countries of the Asia-Pacific region are seeing a significant rise in consumer disposable income and construction spending. Furthermore, the need for cutting-edge technologies like cool roofing materials is likely fueled by continued efforts to create megacities and infrastructure renewal initiatives.
The steep-slope roof segment dominated the market with the most significant revenue of USD 12.2 billion.
The steep-slope roof segment dominated the market with the most significant revenue of USD 12.2 billion. Since dirt and debris are quickly washed away from the surface by water on steep slope roofs, there is less need for maintenance. This will increase demand for steep sloped roofs during the projection period.
The single-ply membranes segment dominated the market with the most significant revenue of USD 4.2 billion.
The single-ply membranes segment dominated the market with the most significant revenue of USD 4.2 billion. Single-ply Ethylene Propylene Diene Monomer (EPDM) is widely used on commercial roofs because of its remarkable flexibility in various climate conditions.
The residential segment dominated the market with the most significant revenue of USD 8.8 billion.
The residential segment dominated the market with the most significant revenue of USD 8.8 billion. Throughout the forecast period, rising consumer awareness of the advantages of cool roofs—such as reduced heat gain from sun reflection back into the atmosphere, which lowers the need for air conditioners—is anticipated to fuel demand for cool roofing products in residential applications.
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Market Dynamics:
Drivers: Increased acceptance of green building materials
Compared to regular roofs, cool roofs require less sunlight to absorb heat. The environment can also benefit from cool roof systems, especially if a neighbourhood's buildings are all equipped with them. Cool roofs can lessen the impact of the urban heat island by reducing the temperature of the surrounding air. Cool roofs can assist in preventing power outages and lower power plant emissions of carbon dioxide, sulphur dioxide, nitrous oxides, and mercury by lowering the energy used for cooling buildings. Cool roofing systems can help prevent the effects of heat islands. Cool roof solutions, therefore, have great potential to raise building and community energy efficiency.
Restraint: Low awareness
It is believed that the population's lower understanding of the advantages of cool roof goods is a detriment to the cool roof business. As a result, this aspect will hinder the growth rate of the cool roof market.
Opportunity: Increased usage within the agricultural sector
Because cool roofs retain sunshine without emitting heat, they are vital to the agricultural industry. This keeps crops' nutritional worth intact. Consequently, cool roofing solutions are progressively replacing traditional roofing systems in the industry. Throughout the forecast period, this factor is expected to accelerate the expansion of the cool roof market.
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Some of the major players operating in the cool roof market are:
● GAF
● Tamko Building Products Inc
● ATAS International Inc
● PABCO Building Products LLC
● Polyglass S.p.A.
● Owens Corning
● Certain Teed Corporation
● IKO Industries Ltd
● Henry Company
● Malarkey Roofing
Key Segments cover in the market:
By Roof Type:
● Low-Slope Roofs
● Steep-Slope Roofs
By Product:
● Foam Roofs
● Single-Ply Membranes
● Metal Roofs
● Slates
● Coated Roofs
● Modified BUR
● Asphalt Shingles
● Tiles
By Application:
● Industrial
● Commercial
● Residential
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About the report:
The global cool roof market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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