Owens Corning, Certain Teed Corporation, GAF Materials Corporation, Tamko Building Products Inc., IKO Industries Ltd., ATAS International Inc., Henry Company are some of the predominant players operating in the global cool roofs market, says Transparency Market Research.
Major players in the cool roofs market are focusing on strategic partnership, mergers and acquisitions and business collaborations in order to concretize their market share.According to TMR, the global cool roofs market was valued at US$ 12.6 bn in 2017. The analysts predicted the market to expand at a steady CAGR of 5.7% from2018 to 2026.
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On the basis of geography, Asia Pacific is projected to dominate the global cool roofs market this is mainly due to blooming building and construction industry in the region. Demand for cool roofs is expected to rise in countries like China, Indonesia, and Vietnam owing to changing weather conditions. Based on application, the residential segmented is expected to dominant the overall market segment owing to increase in number of residential projects across the globe.
Favorable Government Support for installation of Cool Roofs to Drive Market
The global cool roofs market is anticipated to rise at a healthy pace in the forecast period. One of the prominent factors expected to swell demand for cool roofs in the near future is favorable government policies. Governments across the globe are raising emphasis on the use of cool roof in both commercial and residential as they contributed a lot to save power consumption. In various developing and developed countries, governments are providing cool roofs at a subsidized price. This is expected to propel the demand for cool roots owing to their energy-efficient and environment-friendly nature.
Cool roofs are roofs which has ability to reflect sun heat back into the sky. They are a powerful solution to pacific increasing effects of global warming. The increasing awareness among consumer regarding the benefits offered by the cool roofs is a strong factor expected to boost the global cool roofs market in the coming years.