Albany, NY -- (SBWIRE) -- 09/23/2020 -- The global wall putty market was valued at ~US$ 3.6 Bn in 2018 and is anticipated to expand at a CAGR of ~7% during the forecast period. Rise in usage of wall putty in residential and commercial construction sectors is expected to drive the wall putty market. Asia Pacific was the major market for wall putty in 2018, led by the rise in construction and renovation activities in countries, such as China and India, in the region.

Key Drivers of Wall Putty Market

The global demand for wall putty is estimated to increase significantly in the next few years. Commercialization of specialized wall putty and consistent capacity additions by key manufacturers across the globe are projected to boost the demand for wall putty in the near future. Rise in renovation and reconstruction activities across the globe is likely to propel the wall putty market, as wall putty is used widely in painting applications. Wall putty is increasingly being used to correct curve deviation of interior wall surfaces in order to obtain smooth and uniform interiors for repainting of the wall. Decrease in repainting cycle is anticipated to further propel the demand for wall putty in the near future.

Request PDF Brochure :https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=75313

The global wall putty market was valued at ~US$ 3.6 Bn in 2018 and is anticipated to expand at a CAGR of ~7% during the forecast period. Rise in usage of wall putty in residential and commercial construction sectors is expected to drive the wall putty market. Asia Pacific was the major market for wall putty in 2018, led by the rise in construction and renovation activities in countries, such as China and India, in the region.

Key Drivers of Wall Putty Market

The global demand for wall putty is estimated to increase significantly in the next few years. Commercialization of specialized wall putty and consistent capacity additions by key manufacturers across the globe are projected to boost the demand for wall putty in the near future. Rise in renovation and reconstruction activities across the globe is likely to propel the wall putty market, as wall putty is used widely in painting applications. Wall putty is increasingly being used to correct curve deviation of interior wall surfaces in order to obtain smooth and uniform interiors for repainting of the wall. Decrease in repainting cycle is anticipated to further propel the demand for wall putty in the near future.

REQUEST FOR COVID19 IMPACT ANALYSIS : https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=75313

White Cement-based Wall Putty to Offer Lucrative Opportunities

Superior performance of white cement wall putty over other substitutes is expected to drive the white cement-based wall putty segment during the forecast period. White cement-based wall putty is primarily used as a strong and durable foundation for paints. It is specially formulated to fill hair cracks and dents; level surface imperfections; and prevent dampness and efflorescence. White cement-based putty exhibits better appearance due to the high whiteness of putty. On the other hand, acrylic and other clays appear yellow, and absorb more paint. White cement-based wall putty is low maintenance, non-toxic, and costs lower than other alternatives. Therefore, demand for white cement-based wall putty is high in concrete-based constructions.

The gypsum-based segment is anticipated to expand at a significant pace during the forecast period, owing to the increase in demand for wall putty in ceilings and wall decorations. The acrylic-based segment held a considerable share of the wall putty market in 2018. Acrylic-based wall putty is widely used on interior walls for reach and smooth finish. It is suitable for all kinds of paints.

Residential Sector to Dominate Wall Putty Market

In terms of end user, the residential segment accounted for a major share of the wall putty market in 2018. The segment is anticipated to continue its dominance during the forecast period, due to the strong demand for decorative paints. The residential segment includes wall putty required for interior and exterior wall surfaces. Increase in demand for new housings is projected to propel the wall putty market in developing economies.

Explore Transparency Market Research's award-winning coverage of the global Industry:
https://www.prnewswire.com/news-releases/growing-preference-for-plant-based-diet-underscoring-growth-in-vegan-cheese-market-from-2020-to-2030-tmr-301077536.html

Wall Putty Market: Competition Landscape

The wall putty market is consolidated, with a large number of domestic manufacturers operating at the country level. The market is fragmented for these domestic players. Companies operating in the wall putty market are investing significantly to expand their product specifications and improve distribution networks. Birla White and JK Cement are the major manufacturers of wall putty. These companies accounted for a large share of the wall putty market in 2018, owing to their constant efforts toward product innovation and large production capacity.

Global Wall Putty Market: Segmentation

Wall Putty Market, by Type

White Cement-based
Acrylic-based
Gypsum-based
Others

Wall Putty Market, by End User

Residential
Interior
Exterior
Commercial
Interior
Exterior