What is Global Modified Bitumen (MB) Roofing Market?
The Global Modified Bitumen (MB) Roofing Market is a vast and dynamic sector that has been gaining significant traction in recent years. This market revolves around the production and distribution of modified bitumen, a type of roofing material that has been chemically altered to improve its performance characteristics. Modified bitumen is a popular choice for roofing due to its durability, weather resistance, and ease of installation. The global market for this product is driven by a variety of factors, including increasing construction activities, growing awareness about the benefits of modified bitumen roofing, and technological advancements in the production process. The market is also influenced by regional trends, regulatory policies, and the strategic initiatives of key market players.
SBS Type, APP Type in the Global Modified Bitumen (MB) Roofing Market:
The Global Modified Bitumen (MB) Roofing Market is segmented into two main types: SBS Type and APP Type. SBS, or Styrene-Butadiene-Styrene, is a type of modified bitumen that offers excellent flexibility, even at low temperatures, making it ideal for use in colder climates. On the other hand, APP, or Atactic Polypropylene, is a type of modified bitumen known for its superior heat resistance, making it suitable for use in hotter climates. Both types have their unique advantages and are chosen based on the specific requirements of the project. The choice between SBS and APP types also depends on factors such as cost, installation method, and the expected lifespan of the roof.
Non-Residential, Residential in the Global Modified Bitumen (MB) Roofing Market:
The Global Modified Bitumen (MB) Roofing Market finds its applications in both residential and non-residential sectors. In the non-residential sector, modified bitumen roofing is commonly used in commercial buildings, industrial facilities, and public infrastructure due to its durability and long lifespan. It is particularly popular in regions with extreme weather conditions, as it can withstand high winds, heavy rain, and intense sunlight. In the residential sector, modified bitumen roofing is often used for flat or low-slope roofs. Homeowners prefer this type of roofing for its aesthetic appeal, ease of maintenance, and the added insulation it provides, which can help reduce energy costs.
Global Modified Bitumen (MB) Roofing Market Outlook:
The future of the Global Modified Bitumen (MB) Roofing Market looks promising, with a steady growth trajectory projected for the coming years. As of 2023, the market was valued at US$ 8946 million, and it is expected to reach a value of US$ 12810 million by 2030. This represents a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2024 to 2030. The market is dominated by the top five manufacturers, who collectively hold a 25% market share. In terms of product types, SBS Type is the most popular, accounting for about 75% of the market.
| Report Metric | Details |
| Report Name | Modified Bitumen (MB) Roofing Market |
| Accounted market size in 2023 | US$ 8946 million |
| Forecasted market size in 2030 | US$ 12810 million |
| CAGR | 5.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Soprema Group, Oriental Yuhong, GAF, Sika, Hongyuan Waterproof, TehnoNICOL, CKS, Yuanda Hongyu, ARDEX Group, Tamko, Henkel Polybit, Polyglass, IKO Industries, Imperbit Membrane, Fosroc, EDIL Roofing Products, SKSHU, General Membrane, ChovA, Vetroasfalto, Bauder, Protecto Wrap |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
