World News: 17:35 GMT Wednesday 11th September 2019. [Reports and Data via Globe Newswire via SPi World News]
New York, Sept. 11, 2019 (GLOBE NEWSWIRE) --
The global roof coatings market is forecast to reach USD 2.03 Billion by 2026, according to a new report by Reports and Data. The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market. Roof coatings is applied across the hatches, pipes, roofs, and other equipment found on the rooftop to fully seal and waterproof the roof. The coatings are applied directly on top of the existing roof. This allows lesser installation time and reduces costs, as the systems are not much labor-intensive. These coatings are renewable and can be re-coated every 10+ years to renew the reflectivity, increase the roof-life, and ensure high-quality waterproofing capabilities. Restoring the existing roof and reusing the same material reduces the landfill waste and is environment-friendly. Some developments in the market have led to the innovation of ultra-low or zero VOC coatings as well.
The European region is forecasted to grow with a CAGR of 2.3% during the forecast period. The primary reason for the growth of the market is the upturn in the European construction industry. The favorable interest rate environment, improving economic situation, and the enormous scope for action by the public sector will propel the growth of the construction industry in the region. Moreover, immigration and growing urbanization in the countries in Europe have increased the demand for the expansion of residential construction. This has also led to substantial investments in the development of sustainable and durable roofing systems.
For this report, Reports and Data have segmented into the global roof coatings market on the basis of resin type, substrate, application, roof type, technology, and region:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Globe Newswire: 17:35 GMT Wednesday 11th September 2019
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