The global putty powder market size is expected to showcase a considerable growth during the forecast period. This is attributable to the rising construction sector and the increasing house renovation activities that favor the demand for innovative putty powder across the globe. Fortune Business Insights published this information in its upcoming report, titled, “Putty Powder Market Size, Share & Industry Analysis, By Product type (Interior Wall Putty Powder, Exterior Wall Putty Powder), By Application (Residential, Commercial, Others) and Regional Forecast, 2021-2028.”
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A wall putty powder is basically white cement that is adopted to provide a strong and ideal base for concrete plastered walls. It is applied on the wall to fill the pin holes and pores before painting the wall. Additionally, it consists of stannic oxide that renders a polishing effect and is extensively adopted across industrial applications such as construction, and paints & coatings.
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What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market strongholds between 2020 and 2027.
Rising Construction Activities to Promote Growth
Rapid-paced urbanization and the surging shift of population from rural to urban areas to find better living avenues is driving the construction sector globally. According to the United Nations, about 68% of the total world population is likely to reside in urban areas by 2050. This is driving the construction sector that propels the demand for advanced putty powder. Additionally, the increasing focus on house renovation activities is expected to contribute to the global putty powder market growth during the forecast period.
Asia-Pacific to Remain Dominant; Increasing Demand for Optimum Quality Construction Products to Augment Growth
Among all the regions, Asia-Pacific is anticipated to remain dominant and hold the highest position in the global putty powder market during the forecast period. This dominance is attributable to the rising construction activities that propel the demand for quality paints & coatings products in the region.
The market in North America is expected to showcase considerable growth owing to the growing house renovation activities that is likely to boost the consumption of innovative putty powder in the region between 2020 and 2027.
Prominent Companies Focus on Facility Expansion to Cater to Growing Construction Demand
The global putty powder market is fragmented by the presence of major players that are focusing on leveraging the opportunities provided by the growing demand for paints & coatings in the construction sector. They are doing so by expanding their facilities to increase the manufacturing of putty powder and other cement products and further striving to maintain their presence in the global marketplace.
- February 2019 – JK Cement announced the expansion of its manufacturing facility to support small markets in Gujarat and Uttar Pradesh, India. The company is investing around USD 225.1 million to increase the capacity to around 15 million ton to cater to the rising construction industry in the country.
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List of the Companies Operating in the Global Market for Putty Powder:
- Asian Paints
- Birla White
- British Paints
- Golchha Pigments
- K. Cement Ltd
- Nippon Paint
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