Joint Compound Market: Global Industry Analysis and Opportunity Assessment 2016-2026
New York, NY -- (SBWIRE) -- 05/16/2019 -- Joint compound is the white color powder made up of plaster of Paris or gypsum. The compound also is known as mastic or drywall compound. The compound is mixed with water at the time of use which will become a hard stone-like consistency in less than an hour. The compound is used for sealing joints between walls and creating a seamless base for interior walls. The global joint compound market is expected to have significant growth rate, attributed to growing construction industry across the globe. Asia-Pacific except Japan accounts for significantly high revenue share in the global joint compound market, attributed to growing population and robust marketing of the product in the region over the forecast period.
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Global Joint Compound Market Dynamics:
The growth of the global joint compound market is driven by growing construction and adhesive industry. The macroeconomic factor responsible for the growth of the global joint compound market is the rapid rate of urbanization and rising disposable income. The advantages of a joint compound including be easy-to-use, hand-applying simple textures, and skim coating also fueling the global joint compound market. Joint compound may lead to delamination problem if not used according to specification with high price can result in restraining global joint compound market. The company providing the joint compound have significantly high opportunity in regions such as North America, Europe, and Asia-Pacific, owing to the significant demand for a joint compound with growing construction industry in the regions. The joint compound market also has a significant opportunity in Latin America and the Middle East and Africa region as these are the emerging market, attributed to rising disposable income of consumers in these regions.
Global Joint Compound Market Segmentation:
Basically, the global joint compound market is segmented on the basis of product type, end-use, distribution channel, and region. On the basis of product type, the global joint compound market is segmented as single joint compound and ready-to-use. Among the product type segment, single drywall compound contribute for the significant revenue share over the forecast period in the global joint compound market, whereas ready-to-use has significant growth rate over the forecast period. On the basis of end-use, the global joint compound market is segmented as industries and household, wherein industries segment have relatively high revenue share whereas household segment is growing at a significant growth rate. On the basis of distribution channel, the global joint compound market is segmented as e-Commerce and retail shop. Retail shop segment is further sub-segmented as hypermarket or supermarket, independent shop, and convenience store. Among the distribution channel segment, hypermarket/supermarket segment contribute for the significant revenue share over the forecast period in the global joint compound market.
Based on product type, the global joint compound market is segmented into:
Single Joint Compound
Based on end-use, the global joint compound market is segmented into:
Based on Distribution Channel, the global joint compound market is segmented into:
Global Joint Compound Market Regional Outlook:
Based on the geographies, the global joint compound market is fragmented into seven key regions -- North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the regions, North America accounts for a significant share of the global joint compound market, owing to relatively high-value share of the region in the construction. Western Europe is followed by North America region in the global joint compound market. The Asia-Pacific except Japan region accounts for significantly high volume share in the global joint compound market, owing to the rapid rate of urbanization in the region. Eastern Europe and Japan also accounts for significant value share in the global joint compound market. The developing economy such as Middle East Africa and Latin America have a moderate opportunity in the global joint compound market, owing to the substantial growth in the construction industry over the forecast period. Overall, the outlook for the global joint compound market will have a positive growth over the forecast period, owing to the increasing demand for the joint compound in the construction industry as an anti-counterfeiting measure.
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Global Joint Compound Market Player:
Few players in the global joint compound market include United States Gypsum Company, Irrational Propensity Renovations, Sheetrock, Georgia Pacific, USG, Wickes.co.uk, ASG, Everbuild, Drywall, DuPont, and Continental.