Cool Coating Market Trends and Forecast
The future of the global cool coating market looks promising with opportunities in the automotive, architecture, and industrial markets. The global cool coating market is expected to grow with a CAGR of 7.0% from 2024 to 2030. The major drivers for this market are rising concern for energy efficiency and reducing carbon footprint, expansion of the construction industry, and growing preference for sustainable building practices and green architecture.
• Lucintel forecasts that acrylic cool coating is expected to witness the highest growth over the forecast period.
• Within this market, automotive is expected to witness the highest growth.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Cool Coating Market
• United States: In the U.S., companies like Sherwin-Williams and PPG Industries have been actively developing cool coatings aimed at reducing urban heat island effects. Sherwin-Williams recently announced its goal to expand its cool roofing products range by 2025, focusing on enhancing solar reflectance and thermal emittance properties.
• India: In India, with the governmentÄX%$%Xs emphasis on sustainability and energy efficiency, several companies such as Asian Paints and Berger Paints have introduced cool roof coatings. Asian Paints set a target to increase market penetration of its cool roof solutions by 30% over the next three years.
• China: China has been a frontrunner in cool coatings, driven by stringent environmental regulations and urbanization challenges. Companies like Nippon Paint and Dulux (AkzoNobel) have expanded their portfolios to include cool coatings, aligning with government targets to reduce carbon emissions and promote sustainable construction.
• Germany: In Germany, where energy efficiency is a priority, companies like BASF and Sto AG have been innovating in cool coatings technology. BASF aims to achieve a 20% increase in sales of its cool coatings by 2025, supported by government incentives for green building technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Cool Coating Market by Segment
The study includes a forecast for the global cool coating market by type, application, and region.
Cool Coating Market by Type [Value from 2018 to 2030]:
• Acrylic Cool Coating
• Silicone Cool Coating
• Aluminum Cool Coating
• Others
Cool Coating Market by Application [Value from 2018 to 2030]:
• Automotive
• Architecture
• Industrial
• Others
Cool Coating Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Cool Coating Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cool coating companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cool coating companies profiled in this report include-
• PPG
• BASF
• DOW
• Selena
• Henry Company
• Epox-Z
• Sherwin-Williams
Recent Development in the Cool Coating Market
• Sherwin-Williams: Sherwin-Williams has been a leader in the development of advanced cool roof coatings. They have introduced products that significantly reduce the heat island effect in urban areas by improving solar reflectance and thermal emittance properties. Their initiative aims to enhance building energy efficiency and sustainability, aligning with global environmental standards.
• Asian Paints: Asian Paints has focused on expanding its portfolio of cool roof solutions in India. These coatings are designed to reflect more sunlight and absorb less heat compared to traditional roofing materials, thereby reducing indoor temperatures and cooling costs. Asian Paints aims to increase market penetration of these solutions by 30% over the next few years, contributing to IndiaÄX%$%Xs sustainable building goals.
• Nippon Paint: Nippon Paint has invested in research and development of heat reflective coatings, particularly in China where environmental regulations are driving demand for energy-efficient building materials. Their coatings help reduce the energy consumption of air conditioning systems by keeping indoor temperatures lower, which is crucial for densely populated urban areas.
• BASF: BASF has been at the forefront of providing sustainable coating solutions, including cool coatings that contribute to reducing carbon footprints in construction. They have set ambitious targets to increase sales of these coatings by 20% by 2025, leveraging their expertise in chemistry and materials science to develop innovative products that meet stringent environmental standards in markets like Germany and beyond.
Features of the Global Cool Coating Market
Market Size Estimates: Cool coating market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Cool coating market size by type, application, and region in terms of value ($B).
Regional Analysis: Cool coating market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the cool coating market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cool coating market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for cool coating market?
Answer: The global cool coating market is expected to grow with a CAGR of 7.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the cool coating market?
Answer: The major drivers for this market are rising concern for energy efficiency and reducing carbon footprint, expansion of the construction industry, and growing preference for sustainable building practices and green architecture.
Q3. What are the major segments for cool coating market?
Answer: The future of the cool coating market looks promising with opportunities in the automotive, architecture, and industrial markets.
Q4. Who are the key cool coating market companies?
Answer: Some of the key cool coating companies are as follows:
• PPG
• BASF
• DOW
• Selena
• Henry Company
• Epox-Z
• Sherwin-Williams
Q5. Which cool coating market segment will be the largest in future?
Answer: Lucintel forecasts that acrylic cool coating is expected to witness the highest growth over the forecast period.
Q6. In cool coating market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the cool coating market by type (acrylic cool coating, silicone cool coating, aluminum cool coating, and others), application (automotive, architecture, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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