The latest market report published by Credence Research Inc. "Global Silicone Roof Coatings Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028". The Global Silicone Roof Coatings Market generated revenue of around USD XX billion in 2021 and is anticipated to grow a CAGR of over XX% during the forecast period from 2022 to 2028 to reach around USD XX billion in 2028.
Key factors driving the market growth in the next years include the increasing need for roofing systems like built-up roofs, metal, modified bitumen, single-ply membranes, and spray polyurethane foam to be preserved and given extended service life. Using a rooftop coating can also lower a building's energy expenditures. The system's performance over the long run can be enhanced by using some of the highly reflecting white coatings on the market. Due to their exceptional chemical, scratch, and corrosion resistance, silicone coatings have seen substantial growth in demand in recent years. It is anticipated that this will continue in the coming years. The market for silicone roof coatings is anticipated to grow as silicone components are increasingly used in the automobile sector. Sales of silicone coating are anticipated to increase throughout the projected period, along with rising consumer electronics sales due to rising disposable income in emerging economies around the world.
The global silicone roof coatings market is bifurcated into technology, industry vertical, substrate, application, and geography. Based on technology, the silicone roof coatings market is segmented into flat, low-sloped, steep-sloped, and others. Based on industry vertical, the market is categorized into water-based and solvent-based. Based on substrate, the silicone roof coatings market is segmented into metal, asphalt, clay and concrete, membrane, plastic, and others. Based on application, the silicone roof coatings market is categorized into commercial, residential, industrial, and others. Based on geography, the silicone roof coatings market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America held the largest share of the market and is expected to retain its dominance over the next few years. High industrial investment levels and a rise in the use of silicone coatings across a variety of industry verticals primarily drive the demand for silicone coatings in this region. Moreover, the Asia-Pacific region is anticipated to grow at higher CAGR due to rapid urbanization and industrialization. Additionally, rising disposable income, rising consumer electronics sales, and cheap production costs are all factors driving up demand for silicone coatings in this region.
There are many opportunities for silicone roof coatings. Industries that could benefit include: automotive, construction, agriculture, and energy.
The automotive industry is a big user of silicone coatings. Silicone can be used to protect paint from weathering and UV sunlight damage. It also can be used as a sealant on glass, plastics, and metal. Construction also benefits from silicone coatings because they can be used to waterproof surfaces and protect them from the elements. Agriculture uses silicone coatings to protect crops from frost damage and insects. And lastly, the energy industry uses silicone coatings in wind turbines and solar panels to prevent corrosion and reduce the amount of maintenance required.
Why to Buy This Report-
· The report provides a qualitative and quantitative analysis of the global silicone roof coatings market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
· The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level.
· In-depth analysis of the global silicone roof coatings market segmentation based on technology, industry vertical, substrate, and application.
· Major countries in each region with their import/export statistics.
· The global silicone roof coatings market report also includes analyzing of the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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