Americas Silicone Roof Coatings Market - Forecast(2024 - 2030)

Report Code: CMR 1463 Report Format: PDF + Excel

Americas Silicone Roof Coatings Market Overview

The Americas Silicone Roof Coatings Market size is forecast to reach US$ 231.8 million by 2027, after growing at a CAGR of 4.1% during the forecast period (2022-2027). The silicone coatings are majorly applied on the substrates such as Metal, Concrete, Asphalt, Membrane and Plastic, (Thermoplastic polyolefin (TPO), Ethylene Propylene Diene Monomer (EPDM), Polyvinyl chloride (PVC), Hypalon and Others), Spray Polyurethane Foam (SPF) and others. One of the major factors driving the growth of the Americas silicone roof coatings market is the increasing demand for eco-friendly and sustainable green building structures across the region. Also, the increasing growth of the construction industry with rising investments and developments in the region is one of the primary reasons behind the upliftment of the Americas silicone roof coatings market. For instance, South America’s booming construction industry offers a diverse range of investment options. According to the International Trade Administration (ITA), Private investment promotion agency of Peru “ProInversion” is looking to attract investment in 51 public-private partnership (PPP) projects valued at over US$ 9.2 billion over the period of 2020-2024. Also, as per a press release of March 2020, the government of Venezuela plans to construct over a total of five million new housing units by 2025. Thus, positively impacting the growth of Americas silicone roof coatings market during the forecast period. The substitute to silicone roof coatings like acrylic roof coatings might hinder the market growth as they are highly reflective, cost-effective, and dirt resistant. 

COVID-19 Impact

There is no doubt that the COVID-19 lockdown has significantly reduced manufacturing, and production activities as a result of the country-wise shutdown of manufacturing sites, shortage of labor, and the decline of the supply and demand chain all over the world, thus, affected the market in 2020. During COVID-19 pandemic, several manufacturing industries, including building and construction were forced to shut down their production facilities and services across regions as America implemented partial or complete lockdown policies in response to the pandemic, resulting in significant production losses for the manufacturers. For instance, during the year 2020, owing to the global pandemic, there were supply trade disruptions of raw materials in Brazil which affected the market growth. Also, towards the end of the year 2020, the GDP contribution from the construction sector of Brazil decreased to US$2,562.8 million from US$2,598.0 million. However, the progress in the different end-use industries is slowly and gradually rising as per the betterment of the situation.

Report Coverage

The report: “Americas Silicone Roof Coatings Market Report– Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Americas Silicone Roof Coatings Market Industry.

By Roof Type: Flat Roof, Low-Slopped Roof, Steep-Slopped and others.
By Coating Type: High Solid and Solvent-Based.
By Substrate: Metal, Concrete, Asphalt, Membrane and Plastic, (Thermoplastic polyolefin (TPO), Ethylene Propylene Diene Monomer (EPDM), Polyvinyl chloride (PVC), Hypalon and Others), Spray Polyurethane Foam (SPF) and Others.
By Application: Building & Construction (Residential Construction, (Large Apartments and others), Non-residential Construction), Industrial Construction and others.
By Geography: North America (USA, Canada, and Mexico), South America (Brazil, Chile and the Rest of South America).

Key Takeaways

  • Silicone roof coatings are widely used in green buildings in the region as it is a non-chalking, eco-friendly product that allows a building to become more resistant to the elements. Thus, the rising development of green buildings in the region is likely to boost the market growth.
  • For instance, in 2021 the Canadian Government invested US$1.5-billion in a program designed to spur green building through retrofits, upgrades and new construction of public institutions. The five-year plan aims to save energy and cut costs and pollution while creating jobs, with potential projects ranging from environmentally friendly community centers to energy-efficient library windows.
  • In the United States, the impact of a changing climate is tremendous. For instance, in 2021 alone the historic droughts and wildfires in the West, unprecedented storms and flooding in the Southeast, and record heatwaves across the country. Therefore, increasing the demand for silicone roofs as their proprietary formulation eliminates the use of primers, in most instances, providing superior coating adhesion, and extends the life of the existing roof: concrete, modified bitumen, single-ply, metal roof panel, and smooth BUR and also significantly lower labor and materials costs.

Americas Silicone Roof Coatings Market Revenue Share, By Application, 2021 (%)

Americas Silicone Roof Coatings Market Revenue

Source: IndustryARC Analysis, Expert Insights

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Americas Silicone Roof Coatings Market Segment Analysis – By Roof Type

Flat Roof segment dominated the Americas silicone roof coatings market with a revenue share of 46% in 2021 and is expected to rise at a CAGR of 2.6% during the forecast period from 2022-2027. The demand for silicone roof coating for flat roof is rising mainly due to its ability to withstand ponding water indefinitely. Because silicone coatings are not water-based, they absorb no moisture. Silicone is non-sacrificial and as such it doesn’t slowly shed as time goes by. It will stay fully intact for the life of the roof. 

Furthermore, silicone doesn’t need to be reinforced with roof fabric, which saves time and money on installation. The last major benefit to silicone roof coating for flat roof is the need for less than most other flat roof coatings. As little as 2 gallons can be used for 100 square feet. Thus, anticipating the segmental growth of Americas silicone roof coatings.

Americas Silicone Roof Coatings Market Segment Analysis – By Coating Type

High solids segment dominated the Americas Silicone Roof Coatings Market with a share of 72% in 2021 and is expected to rise at a CAGR of 4.7% during the forecast period from 2022-2027. High solids silicone roof coatings are designed for application over existing smooth surface BUR, granulated cap sheet, concrete, metal, spray foam, thermoplastic polyolefin, polyvinyl chloride, and Hypalon membranes, and Others. They are resistant to UV rays, ponding water, oxidation, wind-driven sand, rain, and snow, and temperature extremes allow the roof coatings to provide long-term protection. Because of the coatings’ high reflectivity, it can expect to save up to US$0.50 per square foot on the energy bill after installing a silicone roof coating. Thus, the demand for Americas silicone roof coatings is increasing during the forecast period.

Americas Silicone Roof Coatings Market Segment Analysis – By Substrate

By Substrate, Asphalt dominated the Americas Silicone Roof Coatings Market with a share of 41% in 2021 and is expected to rise at a CAGR of 3.7% during the forecast period from 2022-2027. Asphalt is a black or brown petroleum-like material that is a major substrate of silicone roof coating as it gives a consistency varying from viscous liquid to glassy solid. The constant rising in the production of asphalt has led to segmental growth, positively impacting the Americas silicone roof coatings market. For instance, Ammann, US company has scaled up its production with wide range of 11 models of asphalt plants ranging from 60 TPH to 260 TPH offering complete flexibility to the customer’s demand from various end-users like paint and coatings, constructions, and others. This anticipates the rising growth of America's silicone roof coatings market during the forecast period.

Americas Silicone Roof Coatings Market Segment Analysis – By Application

Building & Construction segment dominated the Americas silicone roof coatings market with a revenue share of 72% in 2021 and is expected to rise at a CAGR of 4.3% during the forecast period from 2022-2027. The growing American economy, urbanization, government spending on public infrastructure, rising sale of commercial and residential construction, and improved logistics are key growth drivers for Americas silicone roof coatings market. For instance, according to the report released by Census Bureau, The Us Construction spending during February 2022 was estimated at a seasonally adjusted annual rate of Us$1,704.4 billion, which is 0.7 percent above the revised January estimate of US$1,695.5 billion. The February figure is 11.2 percent above the February 2021 estimate of US$1,533.3 billion. Thus, with the rising segmental growth, the demand for Americas silicone roof coatings market rises.

Americas Silicone Roof Coatings Market Segment Analysis – By Geography

North America dominated the Americas silicone roof coatings market with a revenue share of 87% in 2021 and is expected to rise at a CAGR of 3.9% during the forecast period from 2022-2027. Rapid industrialization coupled with economic improvement in the region has resulted in high demand. The development and investment in the growing end-use like construction, and others are escalating the market growth. For instance, according to US Census Bureau, privately?owned housing units authorized by building permits for February 2022 were around 1,859,000 which is 7.7% above the February 2021 rate of 1,726,000. Construction beings for around 1,769,000 houses in February 2021 which is 22.3% more than 2021. Furthermore, according to the Statistics Department of Canada, capital expenditures on non-residential construction and machinery and equipment are expected to rise 8.6% to $298.2 billion in 2022, with a 10.4% increase in 2021. This strength is based on record-high capital investments expected by the public sector, which is expected to reach $116.8 billion in 2022. Therefore, a rise in investment in the nonresidential sector will help to boost the demand for the silicone roof coating market.

Americas Silicone Roof Coatings Market – Drivers

The Surge in the Activities of the Construction Industry

The expansion of real estate and housing, rising disposable income, and rising desire for stylish and durable homes with durable silicone roofing owing to its properties such as it is permanent and will not degrade, chalk or crack under harsh UV rays, water-resistant and withstand oxidation, sand and hail storms, and extreme of temperatures are all factors driving the Americas silicone roof coatings market. Contractors and manufacturers prefer silicone roof coatings as it is remarkably stronger in response to moisture and extend the life of the roof. Thus, silicone roof coatings demand is increasing as it can be applied on metal roofs, built-up roofing, and weathered single-ply membranes. Also can be used to recoat existing polyurethane foam, modified bitumen, concrete, wood, and other roofing surfaces.

Americas Silicone Roof Coatings Market
Source: U.S. Census BureauUSA is considered as one of tay 2021, as depicted in figure 2 the seasonally adjusted annual rate of privately-owned housing units authorized by building permits in May was 1,681,000, which is 34.9% (2.4%) higher than the May 2020 rate of 1,246,000. Thus, rising construction activities is further anticipated to boost the market growth over the forecast period.
Figure 3: Canada Building Construction Investment Value, By Structure Type, 2021 (US$ Billion)

Canada Building Construction Investment Value
Source: Statistics CanadaAccording to Statistics Canada, in April 2021, as depicted in figure 3 the investments made in the residential, industrial, commercial, and institutional and governmental sectors in Canada were US$12,241.4 billion, US$770.59 billion, US$2,456.7 billion, and US$1,123.8 billion, as compared to the investments made in March 2021 i.e. US$10,412.41 billion, US$762.78 billion, US$2,475.46 billion, and US$1,110.55 billion. Thus, the rapidly rising construction investments is estimated to drive the market for Americas silicone roof coatings over the forecast period.
The Increasing Demand for Restoration of Roofs Using Silicone Coatings

Silicone roof coating systems are ideal for restoring the existing asphalt, concrete, metal, or single-ply low sloped, commercial roof. They are environmentally friendly containing high solids, low VOCs and no hydrocarbon solvents. They also offer moisture-curing system that can be applied in excess of 40 mils in a single coat without blistering to restore and repair the existing roof without a costly tear-off. Most businesses consider silicone roof coating when their roof is aging or has leaks. Repairs may be recommended before getting on with the coating application. The labor and materials may range between rates of $0.70 and $1.40 per square foot. One of the strengths of silicone roof coating restoration is that it is easy to install and convenient to renew the roof. A silicone coating system usually costs between US$2 and US$3.50 per square foot. A complete roof tear-off and installation can cost US$4 -US$10 per square foot, which is comparatively cost-effecting compared to other roof coatings like acrylic. Restoring a roof using a low-VOC, cool roof solution such as silicone roof coatings isn’t limited to improving only the environment inside a building, it can also deliver benefits to the wider environment. According to the Southern California Air Quality Management District (SCAQMD), high-VOC architectural coatings largely contribute to the smog levels found in and around cities such as Los Angeles. Using low-VOC silicone coatings can reduce these emissions and help improve air quality. By reducing the overall temperature of a building, using a cool roof coating can also help to reduce the urban heat island effect where cities are much warmer than rural areas, resulting in less energy use, fewer pollutants from power sources, and lower smog levels. Thus, the above-mentioned factors in the restoration of the roof using silicone coating is driving the market growth of Americas silicone roof coatings during the forecast period.

Americas Silicone Roof Coatings Market Challenges

The Presence of Alternative Roof Coatings Might Hinder the Market

With growing concerns about the adoption of environmentally safe products, manufacturers of the silicone roof coating market are gravitating towards manufacturing various roof coatings such as acrylic and a white pigment, such as titanium dioxide (rutile) roof coating. Acrylic roof coatings are suitable for use on a variety of substrates including metal, modified bitumen, built-up roofs, ethylene propylene diene monomer, thermoplastic polyolefin, and polyvinyl chloride, concrete, and spray polyurethane foam. Silicone roof coatings are only applicable on flat surfaces whereas acrylic can be used on steep-slope metal roofs. However, they possess similar tensile strength, silicones are more durable than acrylics in the long run. Acrylic reflective roof coatings have proven beneficial in increasing the albedo of buildings. Besides, their cost-effectiveness is dependent on building design parameters and location, and the ability of the coating to remain reflective. The coating’s ability to function successfully is a composite of its initial reflectivity, dirty pickup resistance, mildew resistance and its ability to maintain its functional properties after years of in-field service. Furthermore, the constant development and growth of the acrylic roof coatings in American region is negatively impacting the growth of Americas silicone roof coatings. For instance, in 2021 US based Metacrylics Roof Coatings launched Q COAT, a new fast-setting and ponding water-resistant acrylic roof coating system that is rain resistant in under 30 minutes and can be recoated in as low as 2 hours. On the Other hand, Engineered Polymer Solutions (EPS) company launched EPS 2252, a high solids acrylic emulsion designed to adhere to low-energy substrates commonly used in roofing. Thus, the above developments of the alternatives are hindering the market growth of the Americas silicone roof coatings market during the forecast period.

Impact of Russia-Ukraine War

With the Russian invasion of Ukraine, U.S. contractors face a triple threat of war, inflation, and supply chain snarls as they struggle to source building materials. The war is likely to have multiple effects on construction materials costs and availability. For instance, Russia is a major producer of aluminum and copper, which had already surged 33% and 25% respectively, year over year in January 2022 as stated in a report published by The White House Washington. That means prices of materials forged from those metals could rise even higher. According to the U.S. Bureau of Labor Statistics, on average, input prices for nonresidential construction surged more than 24% over the past year. Construction costs for government buildings were up 13.2% year over year in January 2022, according to the Bureau of Labor Statistics. The cost for the construction of highways and streets was up 20%, while steel mill products rocketed up 113%, and plastic construction products rose 35%. According to the Associated General Contractors of America's analysis of February Producer Price Index data, most of the materials and commodities the construction industry depends upon are seeing double-digit year-over-year cost increases, with steel and diesel seeing some of the largest gains, at nearly 75% and nearly 58%, respectively. According to the US Department of States, Russia and Ukraine hold a significant share of America’s commodities trade. Some commodities Russia supplies extensively include palladium, natural gas, nickel, and aluminum. So, it comes as no surprise that the commodities sector touched record highs recently. The prices for nickel and aluminum to their highest of about 33% and 20% higher in 50 years. Besides, the average price of on-highway diesel fuel was US$4.05 a gallon, the highest level in almost the past nine years, with futures for heating oil, a close proxy for diesel, jumping another 12 cents. Thus, the transportation of construction material increases accordingly. Thus, hampering the overall market growth of Americas silicone roof coatings market.

Americas Silicone Roof Coatings Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Americas Silicone Roof Coatings Market. Americas Silicone Roof Coatings Market top 10 companies are:

  1. Carlisle
  2. GE (Momentive)
  3. Huntsman
  4. KST (division of Sherwin-Willimans)
  5. Hempel (Neogard)
  6. Progressive Materials
  7. Gaco
  8. Gardner-Gibson
  9. Garland
  10. Inland Coatings

Recent Developments

  • In January 2021, Momentive announced the acquisition of KCC Corporation’s Silicones business in Korea and the UK and also its sales operations in China, to further enhance the Momentive’s global capabilities in advanced silicones and specialized applications.
  • In January, 2021, CARLISLE Construction Materials Ltd. launched SILICONE PRO, a silicone roof coating for the UK wide customers.
  • In July 2021, Carlisle Companies Incorporated announced the acquisition of Henry Company from affiliates of American Securities LLC, a U.S. private equity firm.
  • In October 2020, Henry Company acquired National Coatings Corporation, based in Camarillo, California, a leading commercial roofing systems manufacturer. 
  • In August 2019, Mule-Hide Products Co. added seven colors of 100% silicone roof coating finish coat to its silicone roof coating system, providing new options for creating durable, low-maintenance roofs, beautiful, and ensuring crew safety.

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1. Americas Silicone Roof Coatings Market- Market Overview
    1.1 Definitions and Scope
2. Americas Silicone Roof Coatings Market - Executive Summary
    2.1 Key Trends by Roof Type
    2.2 Key Trends by Coating Type
    2.3 Key Trends by Substrate
    2.4 Key Trends by Application
    2.5 Key Trends by Geography
3. Americas Silicone Roof Coatings Market – Comparative analysis
    3.1 Market Share Analysis- Major 10 Companies
    3.2 Product Benchmarking - Major 5 Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Americas Silicone Roof Coatings Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis: (3 key startups will be analyzed)
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Americas Silicone Roof Coatings Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles (3 profiles)
    5.4 Customer Analysis (10 key customers)
6. Americas Silicone Roof Coatings Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Americas Silicone Roof Coatings Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Americas Silicone Roof Coatings Market– By Roof Type (Market Size - US$ Million/Billion)
    8.1 Flat Roof
    8.2 Low-Slopped Roof
    8.3 Steep-Slopped
    8.4 Others
9. Americas Silicone Roof Coatings Market– By Coating Type (Market Size - US$ Million/Billion)
    9.1 High Solid
    9.2 Solvent-Based
10. Americas Silicone Roof Coatings Market– By Substrate (Market Size - US$ Million/Billion)
    10.1 Metal
    10.2 Concrete
    10.3 Asphalt
    10.4 Membrane and Plastic
        10.4.1 TPO
        10.4.2 EPDM
        10.4.3 PVC
        10.4.4 Hypalon
        10.4.5 Others
    10.5 Spray Polyurethane Foam (SPF)
    10.6 Others
11. Americas Silicone Roof Coatings Market– By Application (Market Size - US$ Million/Billion)
    11.1 Building & Construction
        11.1.1 Residential Construction
            11.1.1.1 Large Apartments
            11.1.1.2 Others
        11.1.2 Non-residential Construction
    11.2 Industrial Construction
    11.3 Others
12. Americas Silicone Roof Coatings Market - By Geography (Market Size - US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 South America
        12.2.1 Brazil
        12.2.2 Chile
        12.2.3 Rest of South America
13. Americas Silicone Roof Coatings Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Americas Silicone Roof Coatings Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Regional Level - Major companies
    14.3 Market Share by Key Geography - Major companies
    14.4 Market Share at Country Level - Major companies
    14.5 Market Share by Key Type/Product category - Major companies
15. Americas Silicone Roof Coatings Market – Key Company List by Country Premium Premium
16. Americas Silicone Roof Coatings Market Company Analysis
    16.1 Hempel (Neogard)
    16.2 Carlisle
    16.3 Huntsman
    16.4 KST (Division of Sherwin-Williams)
    16.5 Rust Oleum Corporation
    16.6 GE (Momentive)
    16.7 Henry
    16.8 National Coatings
    16.9 Mule - Hide
    16.10 RM Lucas
    16.11 Gaco
    16.12 Garland
    16.13 Progressive Materials
    16.14 American Weatherstar
    16.15 Tropical Roofing
    16.16 Inland Coatings
    16.17 Everest Sytems Co.
    16.18 Polyglass
    16.19 KM Coatings (Division of Polyglass)
    16.20 Rhino Linings Corporation
    16.21 Lexis Coatings
    16.22 Volatile Free, Inc.
    16.23 Karnak
    16.24 Company 10
"*Financials would be provided on a best-efforts basis for private companies"