Roofing Coatings Market Growth Accelerated by Increased Demand for Protective Coatings

Roofing coatings provide protection to rooftops from harsh weather conditions such UV rays, water, hail, snow, etc. Growing construction industry worldwide has augmented the demand for roofing coatings. These coatings form a protective layer and seal the roof surface, prolonging the lifespan of the roof. 

Market key trends:

Increased product innovations focusing on sustainability and recyclability have driven the roofing coatings market growth over the past few years. Major players are focusing on developing bio-based, recycled, and eco-friendly roofing coating products using plant-based resins and recycled materials. This is due to growing consumer preference for green building products. For instance, manufacturers are utilizing post-consumer recycled materials in liquid-applied membrane systems to provide sustainable roofing solutions. Furthermore, advances in polymer and resin technology have enabled innovations in coating formulations for higher solar reflectance and better durability in extreme weather. Sustainable product innovations are expected to remain a major trend in the global roofing coatings market during the forecast period.

Segment Analysis:

The roofing coatings market is dominated by the elastomeric/acrylic segment which accounts for over 30% share of the market. Elastomeric roof coatings provide better crack resistance, flexibility and elongation than other types. They can extend the life of an existing roof by sealing leaks, preventing damage from UV radiation, and protecting the roof from degradation caused by temperature swings.

Key Takeaways:

The Global Roofing Coatings Market Size is expected to witness high growth during the forecast period of 2024 to 2031.

Regional analysis: The Asia Pacific region currently dominates the global roofing coatings market and is expected to witness the fastest growth during the forecast period. China, India, Japan and other Southeast Asian countries are experiencing rapid growth in construction activities which is driving the demand for roofing coatings in this region. The increasing spending on infrastructure development and building new residential and commercial projects makes Asia Pacific the largest as well as the fastest growing market for roofing coatings.

Key players operating in the roofing coatings market are BioMarin, RIBOMIC, Ascendis Pharma A/S, BridgeBio Pharma, Inc., Pfizer Inc., PhaseBio Pharmaceuticals, Inc., SiSaf, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, LG Chem, Ferring B.V., JCR Pharmaceuticals Co., Ltd, KVK TECH, INC., VIVUS LLC., ProLynx Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Ipsen Pharma, Novartis AG, and Xiamen Amoytop Biotech Co., Ltd.

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