The global silicone roof coating market size is expected to grow at a CAGR 8.6% during the forecast period, 2023–2031.
The global Silicone Roof Coating Market is expected to accelerate during the forecast period due to its compatibility with many roof materials. Silicone coatings are also suitable as a top coat on other substrates, which gives silicone coating an advantage. Moreover, consumers are looking at high solid coating as one does not need a primer, leading to a reduction in process time and money.
| Report Metric | Details |
|---|---|
| Base Year | 2022 |
| Study Period | 2021-2031 |
| Forecast Period | 2023-2031 |
| CAGR | 8.6% |
| Market Size | |
| Fastest Growing Market | |
| Largest Market | |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Geographies Covered |
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A roof plays a crucial role in providing protection and has to be regularly maintained for enhancing its efficiency. The extreme weather conditions may cause significant damage to the roof over time. In addition, a little damage to the roof translates into severe problems and can become a safety issue. A silicone roof coating is an excellent alternative against replacing the commercial roof. A complete roof replacement can be expensive in terms of labor and materials, particularly if the existing roof must be removed first. For instance, depending on the roofing system selected, it can cost about an average between USD 18 and USD 22 per square foot. Restoration, on the other hand, requires less labor and materials, and thus costs about USD 2 to USD 6 per square foot. The use of silicone roof coatings is considered as a cost-effective solution as it adds more 10 to 15 years to the roof’s life, thereby preventing future expenditures. The silicone restoration cost enables 71%–76% of savings over roof replacement, thus prompting higher consumption of paints & coatings.
Consumers have become aware pertaining to the rising concerns regarding the environment and are preferring more sustainable ways. The use of silicone roof coating is considered as an environmentally-friendly option as millions of tons of roofing waste end up in landfills. Moreover, the use of silicone coating increases building energy efficiency whilst hydrophobic properties helps silicone coatings protect external walls from weather damage. A rise in consumer disposable income in the developing economies is a driving factor for the consumption of silicone roof coatings. Consumers are investing more on well-maintained roofs as they come with aesthetics for the home. Restoration of a roof with silicone coatings not only improves the life of the roof but also enhances aesthetics. The substantial spending of consumers on paints and coatings in recent times is boosting the global silicone roof coatings market.
The paints and coatings industry has witnessed a drastic change in recent years due to formulation changes primarily driven by demands for greater sustainability, durability, and ease-of-use. VOCs, such as aliphatic hydrocarbons, ethyl acetate, glycol ethers, and acetone, are essential for spreading paint film. Globally, concerns are rising over VOC emissions as it contributes toward the formation of tropospheric ozone and smog and causes liver, kidney, or central nervous system damage. According to the figures, more than 28% of the total VOC is emitted from the use of solvents, prompting the need to curb the emissions. The EPA regulates the Volatile Organic Compounds (VOC) emissions for roof coatings and is limited to 250 grams per liter. To comply with VOC regulations, roof coatings manufacturers have gradually moved away from the conventional low solid coating to several emerging technologies, which include high solid roof coatings, waterborne, and solvent-free systems.
Silicone roof coatings are moisture-cure chemistries that can be both solvent-based as well as high solids 100% solids. While using high solid silicone, the resin is used as the flow agent. The use of silicone roof coatings helps in reducing VOC as they can be 100 percent solid as compared to other roof coatings, thus making it an ideal choice for customers inclined towards sustainability.
Roof coatings are designed for protecting and extending the useful service life of roof assemblies for new construction, and more commonly, existing roof coverings, such as BUR, metal, modified bitumen, single-ply membranes, and spray polyurethane foam. Consumers are demanding roof coatings to protect roofs from the damaging effects of weather and the environment, such as UV light, and excessive water, and wind. The rising demand in roof coatings has encouraged prominent players to diversify and produce different types of roof coatings in accordance with the market needs.
The most common ones are acrylic coatings, asphalt coatings, polyurethane coatings, and silicone coatings. Most alternatives, such as acrylics, asphalt, and UV coatings, can achieve similar moisture resistance at 25% to 50% of silicone thickness. Most of the consumers do not prefer using silicone roof coatings as only silicone sticks to silicone. Once the silicone is installed, there is a need to use silicone-based products to repair and recoat it. Moreover, silicone roof coating surfaces generally pick up much more dirt than other types of coatings. This causes a significant drop in reflectivity over time when compared to other roof chemistries. The additional operations and costs associated with silicone roof coatings may hinder market growth.
Experts have proven that a hot work environment decreases productivity. It is essential to keep the commercial building at a comfortable temperature to ensure enhanced productivity. Silicone roof coatings help to keep the buildings cooler in the summer, which is why many building owners invest in silicone coatings. Silicone coatings have much higher thermal emittance qualities. Only about 1% of the sun’s energy will penetrate through a silicone coating into the building. With thermal reflectivity properties of silicone roof coatings, they have proven to be effective in lower energy bills of the building owner.
Silicone roof coatings are not only popular for commercial buildings but also find applications in residential buildings. Governments’ promotional activities for cool roofs in order to reduce energy consumption has driven the demand for silicone roof coatings market during the forecast period.
