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What are the key end-use segments in the global Cool Roof Coating industry?

The market could be categorized based on applications like steep-sloped, low-sloped, and others. The low-sloped roofs sector accounted for the substantial market share of cool roof coating and is estimated to lead the overall market in the years to come. The reason could be the growing implementation of green building codes. Also, the steep-sloped roofs sector is estimated to grow at the fastest pace in the years to come. Industrial, residential, commercial, and other end users could be explored in cool roof coating in the forecast period. The residential sector accounted for the substantial market share of cool roof coating and is estimated to continue its dominance in the years to come. The reason could be the presence of colored IR reflective coatings. The industrial and commercial sectors follow the suit.

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Globally, North America accounted for the substantial market share of cool roof coating and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be growing awareness regarding building energy consumption and leadership in the energy and environmental design (LEED) initiative. The United States is a major consumer of cool roof coating in this region.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second-largest region with a significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise the rising adoption of green building codes and high expenditure on construction. Developing countries like India and China are the major consumers of cool roof coating in this region. The key players in the cool roof coatings market are Nutech Paints, Dow Chemical Company, Monarch Industries, KST Coatings, Nippon Paints, Valspar Corp., and Sika Sarnafil. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

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