Mar 01, 2019
Roof Coatings Market: Growth Driven by Focus on Life Cycle Costing and Rising VOC Regulations
by Team Fact.MR
A recently published report of Fact.MR states that prospects of the roof coatings market will remain bullish, with facility mangers and building owners beginning to realize cost benefits of restorations compared to reroofs. Growth of the roof coatings market will also remain influenced by various other external factors including continued prominence of sustainable products, VOC-restricting legislations, and reflective coatings that perpetually mold the marketplace.
As the market for roof coatings continues to expand, key players in the market are entering the fray while battling for market share. Informed building owners are expected to benefit from manufacturers competition. Owners who focus on being up-to-date with changing trends of the roof coatings market are expected to realize quality recommendations and insight to cater their evolving requirements. On the other hand, manufacturers who successfully predict and track current as well as future shifts in trends, are expected to gain a competitive edge in the roof coatings market.
Shift from “Quick Fixes” to “Longer-Lasting” Solutions to Influence Future Roof Coating Demand
The shift from “quick fixes” to “longer-lasting” solutions of roof coatings has been observed in the preferences of manufacturers and end-customers alike, which has been the paramount development witnessed in the roof coatings market recently. Building owners are increasingly focusing on life cycle costing analyses, as they realize relative benefits of high-quality roof coatings compared to inexpensive low-quality counterparts or reroofing.
Fact.MR study opines that the robust growth of the cool roof coatings market will continue to undergird the trend of provocative investments by facility managers in their roof assets. While inexpensive coatings save on expenditure, recoating operations are inevitable, which further results in additional costs incurred. Several factors continue to shape dynamics of the roof coatings market, however demand for greater quality, long-lasting products is expected to remain an exponential growth influencer.
Demand for Environment-Friendly Solutions to Rise in Line with Emphasis on Sustainability
A prominent trend impacting growth of the roof coatings market worldwide is growing consumer demand for renewable, environment-friendly, and sustainable solutions. Key marketers in the roof coatings industry are focusing on accentuating awareness of eco-friendly products among end-customers. Conscious consumers are further morphing rules of marketing in the roof coatings market, and the trend is expected result in increasing number of solar panel-laden roofs, in turn posing negative impacts on the roof coatings market.
Reflective coatings have been gaining increased palpability in the roof coatings market, gaining momentum as environmentally advantageous technology, albeit not niche in the market. Green or sustainable roof coatings are expected to hold immense potential in escalating the popularity of reflective coating through incorporation of recycled or bio-based constituents. Consumer demand is currently inclined toward roof coatings solutions that are environmentally conscious, and manufacturers tapping into the opportunity with new product formulations and launches are likely to observe bullish future prospects.
Strategic innovation is another key driver for the roof coatings market, as it has been deemed as the base for corporate growth strategies and new product categories, generating significant revenue for corporation and value for consumers. Business that constantly focus on the development of innovative solutions for revolutionizing the marketplace, while attaining first-mover benefit are expected to eat into shares of their established competitors in the upcoming years. Roof coating manufacturers are being incentivized remarkably for stressing the aspect of strategic innovation, thereby posing a significant influence on growth of the roof coatings market as a consequence.