Cold Applied Roof Coatings Market: Overview
Roof coatings are designed for protecting and extending the service life of roofs. Roof coating products provide superior durability to new construction roofing systems and existing roof coverings such as metal, modified bitumen, and single-ply membranes. Cold applied roof coatings are waterproofing or roofing applications that uses cold adhesives such as solvent-based and water-based systems. These coatings usually use applications that are not torched or mopped down. Furthermore, cold applied roof coatings are designed to eliminate concerns associated with hot bitumen applications. Increasing demand for energy consumption roofing products across the globe and advantages such as economic factors for contractors and environmental, health, and safety issues are projected to drive the cold applied roof coatings market during the forecast period.
Cold Applied Roof Coatings Market: Key Segments
Based on system type, the cold applied roof coatings market can be segmented into cold process systems and cold adhesives. Cold-process systems consist of multiple plies of reinforcement sheets that are set in a roofing system. These systems are often referred to as cold-process BUR systems, as the application procedures is similar to hot applied BUR systems. Commonly employed reinforcement felts are manufactured from fiberglass or polyester, which are either stitch bound or spun bound. Less use of the process has compelled manufacturers to emphasize on development of products and technology on cold applied roofing systems and materials. This, in turn, drives the cold applied roof coatings market. Furthermore, rise in environmental regulations of hot-applied systems and development of new materials and technology are projected to boost the cold applied roof coatings market during the forecast period.
In terms of application, the cold applied roof coatings market can be bifurcated into existing roofs and new roof systems. A major advantage of cold-applied systems is that these can be employed in tight, constrained areas. Cold-applied systems can be used in areas with substantial amount of equipment, particularly low-profile equipment. Furthermore, high-rise buildings are also well-suited for cold applied systems.
Cold Applied Roof Coatings Market: Regional Outlook
Based on region, the global cold applied roof coatings market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The U.S. is the world’s leading consumer of cold applied roof coatings. Increasing demand for cost effective roofing products, and effective energy consumption roofing products is driving the cold applied roof coatings market growth in North America. Furthermore, due to the implementation of stringent government regulations on construction products in Europe is projected to drive the cold applied roof coatings market in the region during the forecast period. Asia Pacific accounts for a dominant share of the global cold applied roof coatings market due to rise in infrastructure development activities and increase in government initiatives to fuel construction activities in developing economies in the region. Sales of cold applied roof coatings is increasing in Latin America and Middle East & Africa owing to the rise in the construction activities in these regions.
Cold Applied Roof Coatings Market: Key Players
Major players operating in the global cold applied roof coatings market include BASF SE, PPG Industries Inc., Tremco Incorporated, TOR coatings, Henry coatings, and LymTal International Inc. Manufacturers adopt strategies such as agreements and joint ventures to maintain a strong foothold in the market and cater to the rising demand for cold applied roof coatings from consumers.