Global Cool Roofs Market 2021-2027

Growth in Construction Sector to Uplift Global Cool Roofs Market

Cool Roofs are increasingly gaining popularity among the building and construction sector across the globe owing to the number of advantages it offers, beyond urban heat island mitigation such as reduced energy use, reduced air pollution and greenhouse gas emissions, and improved human health and comfort. Roofing contractors and building owners have used cool roofing technology and products for more than 20 years on industrial, residential and commercial buildings. These may be installed on low – slope roofs such as the gently sloping or flat roofs typically found on buildings or steep-sloped roofs which are used in many residences as well as retail buildings.

According to a market report published by Bizwit Research & Consulting, LLP, global cool roofs market is valued approximately USD 18.2 billion in 2020 and is anticipated to grow with a healthy growth rate of nearly 6.84% over the forecast period 2021-2027. 

Strict energy conservation policies, increasing emphasis on green building projects, and rapid growth in the global construction industry are some of the factors that are expected to significantly contribute towards the growth of global market during the forecast period. In addition, growing awareness of consumers about the benefits offered by cool roofs, and government led initiatives and projects to promote usage of cool roofs provides lucrative growth opportunities to the market. However, high initial cost of installation and restricted application areas for cool roof are expected to hamper the market growth.

Growth in the building and construction sector across the globe is expected to promote the market growth during the forecast period. Trade barriers removal for foreign investments, rapid urbanization, increasing spending by the construction companies across the globe in potential markets, etc. are the major factors which drives the demand for new roofing systems such as cool roofs in the building and construction industry over the forecast period. According to Statista, the total construction sector spending across the globe is expected to increase from USD 9.5 trillion in 2014 to approximately USD 19.2 trillion by 2035. Such growth in the construction spending across the globe is expected to increase the demand and adoption of energy efficient and green building products and technologies such as cool roofs and is likely to have a positive impact on the growth of global cool roofs market in the forecast period.

Global Cool Roofs Market Size study, by Roof Type (Steep Slope Roof, and Low Slope Roofs), by Product (Coated Roofs, Foam Roofs, Single Ply Membranes, Asphalt Shingles, Metal Roofs, Tiles, and Slates), by Application (Residential, Commercial, and Industrial), and Regional Forecasts 2021-2027  

The market is segmented on the basis of roof type, product, and application. The total market revenue is calculated on the basis of revenue generated through the sales of cool roof products such as coated roofs, foam roofs, single ply membranes, asphalt shingles, metal roofs, tiles, and slates. However, any revenue generated through the repair and maintenance of the products is excluded from the report.

Major companies covered under the report include Owens Corning, CertainTeed Corporation, GAF Materials Corporation, Tamko Building Products, Inc., IKO Industries Ltd., ATAS International Inc., Henry Company, PABCO Building Products, LLC, Malarkey Roofing, and Firestone Building Products. Other popular regional players across various countries are also considered for revenue calculation.

Review the reports at https://www.bizwitresearch.com/
Data drives better decisions
Bizwit Research & Consulting LLP