Modified Bitumen (MB) Roofing Market Size, Share, Growth, and Industry Analysis, By Type (SBS Type and APP Type), By Application (Non-Residential and Residential), Regional Insights, and Forecast To 2032

• 

   Request a Free Sample To Get More Information on this Market

Modified Bitumen (MB) Roofing Market Report Overview

The global modified bitumen (mb) roofing market size was USD 9.57 billion in 2024 and is projected to touch USD 14.78 billion by 2032, at CAGR of 5.58% during the forecast period.

Modified bitumen (MB) roofing is a type of roofing material that is made from bitumen, which is a petroleum-based product, and a modifier, which is a substance that gives the bitumen certain properties, such as flexibility, tear resistance, and weather resistance.

Modified bitumen (MB) roofing is typically used for low-slope roofs, such as those found on commercial buildings and warehouses. It is also used for some residential roofs. Modified bitumen (MB) roofing is a durable and long-lasting roofing material. It can last for up to 20 years or more with proper installation and maintenance.

COVID-19 Impact: Pandemic Decreased the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the modified bitumen (MB) roofing market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic has had a significant impact on the modified bitumen (MB) roofing market share. Lockdown measures implemented by governments around the world have led to a slowdown in construction activities, which has negatively impacted the demand for Modified bitumen (MB) roofing materials. In particular, the commercial roofing market has been hard hit by the pandemic. Many businesses have been forced to close or operate at reduced capacity, which has led to a decline in demand for new commercial roofing projects. Residential roofing projects have also been affected by the pandemic, but to a lesser extent. The slowdown in demand for Modified bitumen (MB) roofing materials has led to a decline in prices for these materials. In some cases, prices have fallen. The global Modified bitumen (MB) roofing market is expected to recover in the coming years. However, the market is likely to face some challenges in the short term. These challenges include the ongoing COVID-19 pandemic, the economic recession, and the rising cost of raw materials.

Latest Trends

"Increasing use of recycled materials in MB roofing is expected to fuel the growth in the market"

The use of recycled materials in MB roofing is increasing due to the growing demand for sustainable roofing materials. Modified bitumen (MB) roofing materials can be made with recycled materials, such as tires and plastic. This helps to reduce the environmental impact of roofing construction. Consumers are increasingly aware of the environmental impact of their choices, and they are looking for ways to reduce their environmental footprint. Modified bitumen (MB) roofing materials made with recycled materials can help to reduce the environmental impact of roofing construction. The amount of recycled materials available is increasing, as more and more businesses and consumers are recycling. This makes it more feasible for MB roofing manufacturers to use recycled materials in their products. The cost of recycled materials is often lower than the cost of virgin materials. This can make MB roofing materials made with recycled materials more affordable for consumers.

Modified Bitumen (MB) Roofing Market Segmentation

• By Type Analysis

According to type, the market can be segmented SBS Type and APP Type.

• By Application Analysis

Based on age, the market can be divided into Non-Residential and Residential.

Driving Factors

"Growing need for water-proofing and weatherproofing applications to foster the market growth"

The increasing frequency of extreme weather events, such as hurricanes and floods. These events can cause significant damage to buildings, and water-proofing and weatherproofing can help to protect buildings from this damage. The rising awareness about the importance of water conservation is also a contributing factor. Water-proofing and weatherproofing can help to reduce water waste, as they can help to prevent water from leaking into buildings. Green roofs are roofs that are covered with vegetation, and they can help to reduce storm water runoff. Water-proofing and weatherproofing can help to protect green roofs from the elements, and they can also help to extend the lifespan of green roofs.

"Rising adoption of green roofing solutions to result in the expansion of the market"

The growing awareness about the environmental benefits of green roofs. Green roofs can help to reduce storm water runoff, improve air quality, and provide habitat for wildlife. The increasing demand for sustainable roofing solutions is also a contributing factor. Consumers are increasingly looking for ways to reduce the environmental impact of their choices, and green roofs are a sustainable option for roofing. The declining cost of green roofing materials has created a further appeal. The cost of green roofing materials has been declining in recent years, making green roofs more affordable for consumers.

Restraining Factors

"High initial cost to hamper the market growth"

The initial cost of MB roofing materials is higher than traditional roofing materials. This can be a barrier to adoption for some consumers. There are a few reasons why MB roofing materials are more expensive than traditional roofing materials. First, MB roofing materials are made with more expensive materials, such as bitumen and polymers. Second, the manufacturing process for MB roofing materials is more complex than the manufacturing process for traditional roofing materials.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

Modified Bitumen (MB) Roofing Market Regional Insights

"Asia Pacific to lead the market owing to the growing population and urbanization in the region."

The Asia Pacific region has shown the highest modified bitumen (MB) roofing market growth. This is due to the continued growth of the region's economy and the increasing demand for energy-efficient and durable roofing materials. The increasing availability of recycled materials in the region, which is making MB roofing more affordable. Therefore, a larger number of people are inclining towards MB roofing.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market."

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

LIST OF TOP Modified Bitumen (MB) Roofing COMPANIES

• Soprema Group: Écully, France
• Oriental Yuhong: Changzhou, China
• GAF: Wayne, New Jersey, USA
• Sika: Baar, Switzerland
• Hongyuan Waterproof: Beijing, China
• TehnoNICOL: Saint Petersburg, Russia
• CKS: Dongguan, China
• Yuanda Hongyu: Wuhan, China
• ARDEX Group: Malsch, Germany
• Tamko: Shawnee, Oklahoma, USA
• Henkel Polybit: Düsseldorf, Germany
• Polyglass: Bologna, Italy
• IKO Industries: Waterloo, Ontario, Canada
• Imperbit Membrane: Poznań, Poland
• Fosroc: Chesterfield, United Kingdom
• EDIL Roofing Products: Bergamo, Italy
• SKSHU: Suzhou, China
• General Membrane: Kraków, Poland
• ChovA: Prague, Czech Republic
• Vetroasfalto: Bologna, Italy
• Bauder: Pfullendorf, Germany
• Protecto Wrap: Northwich, United Kingdom

Report Coverage

This report examines an understanding of the modified bitumen (MB) roofing market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.