Joint Compound Market would rocket up to USD 2,606.65 million by 2029| Key Players: USGKnauf (Malaysia), DAP Global Inc. (U.S.), Solid Products, Inc. (U.S.)

Market Definition

Joint compound is often referred to as drywall compound, mastic, or drywall mud. Gypsum dust and water are combined to create a white powder. Joint compounds are used with fiber or paper fiber joint tape to seal the joints between sheets of drywall. The joint compound produces a seamless substrate for paint on the interior walls.

Data Bridge Market Research analyses that the joint compound market is expected to undergo a CAGR of 4.20% during the forecast period. This indicates that the market value, which was USD 1,875.60 million in 2021, would rocket up to USD 2,606.65 million by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Joint Compound Market Analysis and Size

The market for joint compounds has grown steadily over the years. Although the market has witnessed a huge demand drop in 2020 as a result of the epidemic. However, owing to their frequent use in the residential sector for various construction purposes, the market has accelerated. Additionally, the various growth strategies adopted by manufacturers is also anticipated to have a positive impact on the market for these compounds over the forecasted timeline.

Joint compound Market Dynamics

Drivers

Increase adoption of advanced coating materials

The increasing demand for advanced coating materials and their ability and durability to provide rapid, easy and smooth joint finishing, will further boost the adoption of joint compounds in construction applications. This major factor projected to drive the joint compounds market during the forecast period.

Rising renovation and industrial construction

Increasing need for renovation of older residential infrastructure and growing residential construction due to increase in modernization, population and family size are expected to increase the  demand of joint compound and drive the growth rate of the joint compound market.

Rise in demand due to superior qualities

Joint compound formulations provide better functioning qualities, including excellent slip and low shrinkage .The joint compounds are used for taping, filling, finishing, and skim coating. Joint finishing is rapid, easy and smooth which reduces labor costs and labor efforts and it improves the appearance as well as quality of the product which are expected to drive the growth rate of the joint compound market

Opportunities

Government initiatives with high investments

The government efforts to boost the economy, including significant investments in the building industry, particularly in the construction of sustainable and green buildings, as well as rising U.S. spending on private construction, for both residential and non-residential buildings, have benefited the joint compound market because it is environmentally friendly material, and light in weight.

Furthermore, the high government investments for numerous construction projects coupled with the modernization plan to renovate the country's railways, highways, airports, ports and other transportation infrastructure are expected to create the immense opportunities for the growth of the global Joint compound market during the above mentioned period.

Some of the major players operating in the joint compound market are:
USGKnauf (Malaysia)
DAP Global Inc. (U.S.)
Solid Products, Inc. (U.S.)
National Gypsum Services Company (u.S.)
Saint-Gobain (France)
Hamilton Drywall Products (U.S.)
ASG Group (Australia)
India Gypsum Pvt. Ltd (India)
Chiyoda UTE Co. Ltd (japan)
Knauf Gips KG (Germany)
Etex Group (Belgium)
Holcim (Switzerland)
YOSHINO GYPSUM CO., LTD (Japan)
Mada Gypsum (Saudi Arabia)
ZAWAWI MINERALS LLC (Oman)
Gypsemna Co LLC (UAE)
Global Mining Company (Oman)
Gulf Gypsum Industrial (UAE)
VANS Gypsum (India)
Osman Group (Bangladesh)

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COVID-19 Impact on Joint Compound Market

The outbreak of covid-19 has adversely affected the growth of the several markets. During this pandemic, government has imposed lockdown across several countries which has also negatively impacted the growth of the joint compound market. Limited demand and production and delays in the transportation due to travel restriction created obstacles in the market. Disruption in the supply chain of building materials and residential construction sector with no labor in hand and suspension of several construction permits have all led to the decline in the growth of the overall market of Joint compound.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Joint Compound Market Scope

The joint compound market is segmented on the basis of product and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product
Lightweight
Conventional

End User
Residential-
Commercial
Industrial

Joint Compound Market Regional Analysis/Insights

The joint compound market is analysed and market size insights and trends are provided by country, product and end user as referenced above.

The countries covered in the joint compound market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the joint compound market due to the growing demand of joint compound in the construction sector in this region.

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the rapid rate of industrialisation and urbanization in the region.

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