Roofing coatings are protective liquid or solid formulations used on roof surfaces to seal and protect them from various environmental factors like rain, snow, sunlight and pollution. These coatings extend the life of roofs by forming a seamless barrier that safeguards the underlying roof material from damage caused by moisture, contaminants and UV radiation. When applied, roofing coatings form a protective layer that makes the roof waterproof and weather resistant.
Market Opportunity:
Increasing demand for durable roofing systems which provides additional protection and saves long term maintenance cost is driving the demand for roofing coatings. With rapid urbanization and infrastructure development activities around the world, there is significant spending on commercial construction sector. Roofing coatings offers an economical solution for waterproofing and protecting large commercial buildings with extensive roof area. Their long lasting property eliminates frequent re-coating needs, substantially reducing the life cycle cost of roof maintenance. The growing commercial real estate sector especially in developing Asian and Middle Eastern countries provides huge market potential for roofing coating manufacturers over the coming years.
Porter's Analysis:
Threat of new entrants: Low barrier to entry due to availability of raw materials but the established players have stronger brand value and distribution network.
Bargaining power of buyers: Roofing contractors have high bargaining power as they can easily switch between suppliers for better prices and quality.
Bargaining power of suppliers: Major suppliers like raw material providers have moderate bargaining power due to availability of substitutes.
Threat of new substitutes: Low threat as roof coatings provide better protection, durability and aesthetics compared to traditional materials.
Competitive rivalry: High rivalry due to presence of numerous regional and global players competing on product quality, pricing and innovation.
SWOT Analysis:
Strengths: Improved aesthetics, durability and energy efficiency of roof coatings boost their demand in commercial and residential projects.
Weaknesses: Fluctuations in raw material prices and stringent environmental regulations increase production costs. High R&D investment required to develop new formulations.
Opportunities: Growth in repair and renovation activities in the building industry along with rising commercial construction provides new opportunities.
Threats: Economic slowdowns reduces new construction and renovation activities impacting sales.
Key Takeaways:
The Global Roofing Coatings Market Size is expected to witness high growth.
Regional analysis: The Asia Pacific region is projected to register the highest CAGR during the forecast period. This is attributed to ongoing infrastructure projects, rapid urbanization, and growth in commercial and residential construction activities in emerging economies like China and India. China dominates the APAC roofing coatings market and is anticipated to grow at a strong rate given the country's massive building construction industry.
Key players operating in the roofing coatings market are BioMarin, RIBOMIC, Ascendis Pharma A/S, BridgeBio Pharma, Inc., Pfizer Inc., PhaseBio Pharmaceuticals, Inc., SiSaf, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, LG Chem, Ferring B.V., JCR Pharmaceuticals Co., Ltd, KVK TECH, INC., VIVUS LLC., ProLynx Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Ipsen Pharma, Novartis AG, and Xiamen Amoytop Biotech Co., Ltd.
Explore more information on this topic, Please visit -
https://www.ukwebwire.com/roofing-coatings-market-demand-and-share-analysis/
Explore more trending article related this topic -
Comments
0 comment