This Year’s Heat-Reflective and Waterproof Paint Market Reaches 400 Billion KRW
Sales Growth for KCC and Noroo Paint Among Others
As heatwaves and heavy rains become more frequent due to climate change, the demand for heat-reflective and waterproof paints is increasing. The related market is growing annually and is expected to exceed 400 billion KRW this year.
According to industry sources on the 22nd, the heat-reflective paint market is estimated at 50 billion KRW this year, and the waterproofing material (waterproof paint) market at 380 billion KRW, totaling approximately 430 billion KRW. Both heat-reflective paints and waterproofing materials have been growing steadily each year.
Heat-reflective paint reflects solar radiation and infrared rays to lower the exterior wall temperature and block heat transfer inside, resulting in reduced cooling costs. When applied to building rooftops and exterior walls, it can reduce the exterior wall temperature, which can rise to 50-60 degrees Celsius in summer, by up to 40%. In such cases, indoor temperatures drop by 4-5 degrees Celsius.
Since the record-breaking heatwave in 2018, concerns about heatwaves have increased annually, leading to rapid growth in the heat-reflective paint market. In fact, last month recorded the highest temperature ever for June, and Seoul experienced its earliest tropical night in 117 years.
Accordingly, KCC’s cumulative sales of heat-reflective paint from January to April this year grew by 25% compared to the same period last year. Noroo Paint reported a 12% increase in heat-reflective paint sales through June compared to the previous year. With an extreme heatwave expected this summer, sales of heat-reflective paint were concentrated in the early months before the full onset of summer.
Although the current market size is not large, road-use heat-reflective paint, which lowers road temperatures, is also gaining attention. Applying road-use asphalt paint to asphalt that can reach up to 80 degrees Celsius in summer can reduce surface temperatures by 10 degrees, helping to mitigate urban heat island effects.
Samhwa Paint road heat-reflective paint 'Byroad Cool' application scene. (Photo by Samhwa Paint Industrial)
Due to abnormal weather causing longer rainy seasons and stronger heavy rains, the waterproofing material market is also growing. Waterproofing materials are coatings applied to building rooftops to prevent water leakage. Underground parking lots are also important places where waterproofing materials are applied. Noroo Paint’s waterproofing material sales in the first half of this year increased by 20% compared to the same period last year. KCC also showed double-digit growth in waterproofing material sales through April this year compared to the previous year.
Waterproofing material sales are expected to rise significantly even after summer. Waterproofing work must be done on days without rain, but due to the prolonged rainy season this summer, there are very few days suitable for work. Additionally, with typhoon warnings, the industry expects work to be concentrated after August, further boosting sales.
An industry official explained, “Due to the construction market downturn, repair demand is increasing relatively more than new construction demand. With growing concerns about heatwaves and heavy rains every year, the heat-reflective and waterproof paint markets are expanding, and related research and development are ongoing.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
