Photo courtesy of Henry Company.
According to research published last year by market research and competitive intelligence provider Fact.MR, the cool roof coating market is expected to reach $8.3 billion by 2032—almost doubling what the market currently generates.
Cool roof coatings offer reduced cooling energy costs and increase comfort level by keeping temperature fluctuations inside the building in check. The Cool Roof Rating Council (CRCC) estimates average energy savings from cool roof coatings to be in the range of 7-15 percent, although energy savings vary based on geography and climate.
The continued adoption of building codes aimed at lowering our energy consumption and carbon emissions are sure to be a major propeller of the demand for cool roof coatings.
Like every other Fall issue, we have our special coatings section included within these pages. We’ve dedicated an entire portion of our eMagazine to various coating products, innovative ideas and what the future of the market looks like.
So what do you think? Do you agree with the Fact.MR study. Do you foresee the cool roof coating market reaching $8.3 billion by 2032? More importantly, what do you think about the market will be different? What further innovation awaits us?
The year 2032 sounds far away; but we all know how quickly nine years can go by. I can’t wait to see where our industry ends up.
If you have any questions or comments about the study or the market in general I would love to hear them. You can reach me directly at lewisl@bnpmedia.com.
Key Takeaways From the Research
- The top five providers of cool roof coatings help approximately 38 percent market share during 2021.
- Liquid applied roof coatings are gaining traction
- Silicon-based cool roof coatings are anticipated to gain significant share across the market due to their resistance to sunlight.
- Residential applications will accelerate at the highest pace and are anticipated to grow at a compound annual growth rate of 8 percent over this forecasted period.
Lindsay Lewis
Editor