Cool Roof Market To Reach USD 29.94 Billion By 2027

Market Summary

The growing construction industry and increasing awareness regarding green projects are driving the market.

Market Size – USD 19.43 Billion in 2019, Market Growth - CAGR of 5.5%, Market Trends – High demand from developing nations.

The global Cool Roof market is forecast to reach USD 29.94 Billion by 2027, according to a new report by Reports and Data. One of the most prominent green technology today is Cool Roofs. Cool Roofs are installed as they absorb lesser heat and reflect more sunlight when compared to standard roofs. Cool Roof Systems are used in the construction industry due to the increasing demand for energy-efficient and eco-friendly roofing systems.

Growth of the construction industry due to increasing urbanization and industrialization, increasing investments by global construction companies, and reduction of trade barriers for foreign companies are driving the growth for the Cool Roof Market. Another factor driving the market growth is the availability of government subsidies and tax benefits provided by certain countries to promote environment-friendly projects. The growing infrastructure sector in countries such as Norway, Sweden, Australia, Canada, Germany, and India, augments the product demand.

Market Summary

Further key findings from the report suggest

• Industrial Applications occupied 22.7% of the market share in 2019. Using Cool Roofs in industrial buildings help decrease the strain on the electrical grid, hence enabling a continuous workflow by reducing the risk of power outages. Thus, these help in increasing the efficiency of the industrial buildings.

• In India, less than 10% of households have access to air conditioners. The spiking heat, along with lower incomes in certain regions of the country, drives the market for cool roofs as they are economical and environment friendly. The government is investing in the National Cooling Action Plan, wherein cool roofs are being promoted. Cities, such as Hyderabad and Ahmedabad, already have cool roof programs that act as a model for the other cities to follow.

• Steep-Slope Roofs occupied 44.3% of the market share in 2019. The product finds extensive applications in residential buildings, and it comprises an inclined roofline. These are relatively expensive than the other segments and are made from metal roofing, tiles, and asphalt shingles.

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Market Summary

Key participants include Firestone Building Products, Malarkey Roofing, PABCO Building Products, LLC, Henry Company, ATAS International Inc., IKO Industries Ltd., Tamko Building Products, Inc., GAF Materials Corporation, CertainTeed Corporation, and Owens Corning, among others.

Segmentation:For the purpose of this report, Reports and Data have segmented into the global Cool Roof market on the basis of product, type, application, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)• Slates• Tiles• Metal Roofs• Asphalt Shingles• Single-Ply Membranes• Modified BUR• Foam Roofs• Coated Roofs

Market SummaryType Outlook (Revenue, USD Billion; 2017-2027)• Steep-Slope Roofs• Low-Slope Roofs

Application Outlook (Revenue, USD Billion; 2017-2027)• Residential• Industrial• Commercial

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)• North America• Europe• Asia Pacific• MEA• Latin America

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