Roof Coating Market Share, and Key Growth Factors |
The global roof coating market size was valued at USD 1.72 billion in 2022. The market is anticipated to expand from USD 1.78 billion in 2023 to USD 2.41 billion by 2030, exhibiting a CAGR of 4.4% over the estimated period. The rise is driven by the growing product demand from the construction sector. The coatings are designed for the prevention of physical, water, and chemical damage.
Fortune Business Insights™ provides this information in its research report, titled “Roof Coating Market, 2023-2030”.
Source:
https://www.fortunebusinessinsights.com/roof-coating-market-107698
COVID-19 Impact:
Market Expansion Affected on Account of Disruptions in Supply Chains
The COVID-19 pandemic led to the imposition of lockdown restrictions, creating disruptions in supply chain. Besides, the period registered a decline in product demand considering the limited availability of labor. The limitations on logistics further created issues in the procurement of raw materials for the process of production. These factors impacted industry expansion to a considerable extent.
Segments:
Urethane Coatings Segment to Register Notable Growth Owing to Superior Properties
Based on type, the market is subdivided into urethane coatings, bituminous, silicone, acrylic, and others. The urethane coatings segment accounted for the largest share in the market and is anticipated to register appreciable expansion over the projected period. The expansion can be driven by various advantages of the product including long life span, high durability, and strength.
Report Coverage:
The report gives a comprehensive analysis of the key factors touted to drive the global business scenario over the forthcoming years. It further offers an analysis of the vital steps and initiatives undertaken by leading companies for consolidating their industry positions. It also gives an account of the impact of the COVID-19 pandemic on market growth along with the pivotal trends impelling industry expansion.
