The global joint compound market size is expected to expand considerably due to soaring demand from the construction industry. Joint compound finds its application in the construction industry for repairing minor damages to walls, corner beads, fastening, skim coating, etc. This information is published by Fortune Business Insights™ in an upcoming report titled, “Joint Compound Market, 2022-2029.”

The report throws light on the different stimulants to the joint compound market. For instance, the construction industry benefits from joint compounds due to their easy utilization and handy application for basic textures. It is also used to fix scratches, minor damages, and tears, etc. These advantages are expected to fuel the global market growth for the joint compound in the forecast period.

COVID-19 Impact-

The pandemic has unleashed a drastic impact on several industries and markets. Players at regional or global levels are collectively experiencing hindrances caused by the pandemic. Nations are implementing stringent government measures like lockdowns, curfews, and social distancing norms across the globe to curb the spread of the virus. The joint compound market is experiencing a slowdown as the production levels are at an all-time low and is therefore earning less revenue than before. However, our research report’s in-depth analysis will help you gain valuable insights into this niche market.

Segmentation-

Based on product type, the market for the joint compound is categorized into multi-joint compound and single joint compound. On the basis of its application, the market segments into commercial, residential and industrial. Geographically, the joint compound market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

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Report Coverage-

The joint compound market report is based upon an innovative research methodology that comprises data triangulation based on bottom-up and top-down approaches for a precise prediction. The report presents information for the joint compound market using PESTLE Analysis and Porters’ Five Forces Analysis. The report also analyses the present status and future opportunities for the joint compound market using SWOT analysis. The information presented in the report is gathered through interviews with reputed stakeholders at global, regional, and country levels for a detailed comprehension of this niche market. The report also focuses on the recent developments in the industry, including the research on key trends, new product launches, alliances, and expansions in the joint compound market.

Drivers & Restraints-

Broad Applications in the Construction Industry to be Major Growth Propellant

The rising population is skyrocketing the industrialization process across the world. Hence, the construction of commercial and residential spaces is also rising. Joint compound has a wide range of applications and can be used for repairing scratches, tears, seal joints around drywall sheets, etc. Joint Compound possesses physical attributes like sturdiness and consistency. These properties and the easy application of joint compound together are fueling its demand in the construction industry. The binding power of joint compound allows efficacious operations by industrial consumers. These attributes are expected to bring fortune to the joint compound market.

However, the joint compounds contain ingredients that can be harmful if inhaled. Also, obligations of high price for joint compound is a major setback. These factors are expected to restrain the market growth.

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Regional Insights-

Asia Pacific to Retain its Dominance in Global Market

Rapid industrialization and urbanization are strongly influencing the market growth in Asia Pacific. A huge demand from the construction industry in emerging economies like India and China owing to the rising population and increasing disposable income is expected to fuel Asia Pacific market growth. On the other hand, North America is expected to hold the second-largest share in growth for joint compound due to the booming construction industry.

Europe is expected to witness moderate growth as the awareness for aesthetically appealing ,and durable buildings increases. The presence of prominent manufactures catering to the consumer’s growing demands and the moderately growing construction industry is expected to boost market in Europe.

Middle East & Africa, and Latin America anticipate significant growth owing to the growth of its end-use industries.

Competitive Landscape-

Partnerships, Acquisitions, and Expansions to Intensify Joint Compound Marketplace

The joint compound market is fairly fragmented, with players operating regionally, and globally. Companies are strategizing to stay at the top of the game. For instance, Knauf acquired USG Corporation to cater to the escalating demand from consumers. The acquisition is expected to help the company in expanding its footprint globally.

Industry Developments-

  • February 2021: Westpac and SocietyOne announced a strategic partnership to introduce a digital banking platform in Australia. This growth strategy will help to a broader range of market-leading financial products and services to its clients.
  • October 2020: USG Boral introduced SHEETROCK Standard Plasterboard in India. The launch is expected to play a vital role in Indian interior and architecture revolutionization.

Key Players in the Joint Compound Market:

  • AGT Products (IP) Inc.
  • DRICORE
  • Knauf (USG Corporation)
  • Kuiken Brothers
  • Freeman Company
  • LLC
  • Proroc
  • Westpac
  • CTS Cement Manufcaturing Corporation
  • Proform
  • Murco Petroleum
  • Dap

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