Joint Compound Market: Rapid expansion of Building Sector is expected to boost the demand for Joint Compound

Joint Compound Market was valued at USD 5.44 Bn in 2023 and is expected to reach USD 8.12 Bn by 2030, at a CAGR of 5.88 % during the forecast period.

Definition:

Joint compound is also called as drywall compound, drywall mud, joint cement. It is a white powder material form of gypsum dust, which is used in drywall finishing. It is also available in a paste form that helps to create a smooth, seamless surface on walls and ceilings surface. A joint compound is a vital material, which is used for achieving a professional-looking finished wall or ceiling ready for paint. Joint compound is a building material, which is used to finish the joints between plasterboard panels or gypsum board (drywall) during renovation projects and new construction.
Joint Compound Market Overview:
The global joint compound market growth is driven by factors like increase in construction activities, rapid urbanization across developing economies, and ongoing renovation projects. The growth projection rate of joint compound market is analysed by factors like regional construction trends technological advancements and economic conditions. Joint compounds are available in the market in various types to suit different applications. It includes a products like ready-mixed joint compound, setting-type joint compound, all-purpose joint compound, and lightweight joint compound. Each Joint compounds type offers specific benefits like drying time, workability, and performance features.

The joint compounds are used in various application segments like residential construction, commercial construction, industrial construction. Residential construction held a dominant position because of the high demand for housing and renovation activities across the globe. Technology development plays a vital role in driving innovation in the joint compound market. Improvements in formulations, production techniques, and quality control processes are expected to contribute to joint compound improvements, and efficiency gains. An increase in DIY projects, customization options with joint compounds products, digitalization of construction processes, and the integration of smart technologies are some of the trends, which are witnessing in the global joint compounds market.

The demand for joint compounds is expected to vary across developed and developing regions because of differences in construction practices, building regulations, economic conditions, and consumer preferences. Asia Pacific, North America, Europe are key regions that are driving the joint compound market growth. Rapid urbanization and infrastructure development across the developing economies are expected to increase the demand for joint compounds. In the joint compound market competitive landscape, several regional manufacturers and suppliers are generating revenue to specific geographical markets. The competitive landscape in the joint compound market is characterized by competition, with key players operating in the market, which are striving to differentiate themselves through product innovation, quality, and customer service. USG Corporation is a leading manufacturer of building materials, who offers a range of joint compound products under brands like SHEETROCK and USG Sheetrock. The company is focusing on innovation and sustainability in its joint compound product offerings. Gyproc is a major player in the global construction materials market, who is a part of the Saint-Gobain Group. They offer an extensive range of joint compound product solutions for various construction applications.

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Joint Compound Market Dynamics
The Construction activities are expected to grow at a more than 5.8%, which is also drive the demand for Joint Compound during the forecast period.

The CAGR growth rate of construction activities at more than 5.8% represent a positive outlook for the demand for joint compound during the forecast period (2024-2030). Global construction activity is forecast to grow 1.2% in 2024 to be US$9.6 Trillion. A factors like GDP growth, inflation rates, interest rates, and consumer confidence, are expected to impact positively on construction market conditions. A strong economy characteristically leads to increase construction activity. Government policies across developed and developing economies, growth in infrastructure spending, and regulatory frameworks are expected to boost the construction activities that is also expected to drive the demand for joint compound products in the building sector.



The housing sector plays a vital role in shaping construction market conditions, mainly in the residential construction sector. The housing affordability, mortgage rates, demographic trends, and urbanization are some of the prominent factors, which are expected to increase the demand for residential construction projects. Additionally, expansion of office spaces, retail centers, hotels, and industrial facilities across developing economies like China and India are expected to drive the demand for joint compound products. The Asia Pacific (APAC) region is a leader in global construction activity. Many people necessitate more housing and infrastructure development. As people migrate to cities, demand for commercial and residential buildings are expected to increase at a rapid rate. Many governments in the APAC region are prioritizing infrastructure projects, which is expected to create a demand for high production of joint compound products. With a growing construction sector, the demand for joint compounds is also increasing in renovation and remodelling activities. As existing structures are renovated or refurbished, the requirement for joint compound is increasing to finish and repair drywall surfaces. As construction sector evolve, there is expected to high adoption of innovative building materials and techniques. An increase in use of joint compound products with better-quality formulations, faster drying times, and sustainability features are expected to drive the demand for joint compound in the near future.

A high number of consumers are reaching out for Do it Yourself (DIY) range of products.

An increase in popularity of DIY projects aligns perfectly with market trends for joint compound. The global DIY home improvement market is expected to reach USD 1.28 trillion by 2030, which is reflecting a growing trend of DIY projects. DIY projects are expected to encourage homeowners to save money on professional contractor fees, with the making joint compound an attractive product for them. An increasing number of consumers reaching out for your Do-it-Yourself (DIY) range of joint compound products is a positive trend in the global joint compound market growth.

The popularity of DIY projects is expected to increase in the near future by factors like increased access to online tutorials, cost savings option, and a satisfaction of consumer from completing home improvement projects independently. Many consumers are investing time into enlightening and personalizing their living spaces. DIY projects, like painting, wallpapering, and drywall finishing, are expected to enhance the aesthetics and functionality of their homes and increases the adoption of joint compounds in the DIY sector. Ready-mixed joint compound products offering convenience and ease of use to consumers, which also helps to reduce the need for mixing and ensure consistent quality. It is making them accessible to a wider range of consumers like those with limited construction experience and high construction experience. Joint compound manufacturers are continuously innovating to manufacture joint compound products, which are tailored for the DIY projects. They are focusing to deploy user-friendly packaging solution, and improved performance characteristics to meet the requirements of DIY enthusiasts.

Volatile Prices of Raw Materials Are Expected to Limit The Global Joint Compound Market Growth.

Volatile raw material prices are a significant challenge for the joint compound market. Joint compounds rely on various raw materials, including polymers, gypsum, and starches. Fluctuations in the prices of raw materials are expected to impact significantly on production costs for joint compound manufacturers. Key players are expected to raise the price of joint compound to maintain profitability, potentially discouraging some consumers. The low raw material costs and highly efficient production are the strategic recompenses of the manufacturing sector. The manufacturing companies are buying their raw material from suppliers. The manufacturing processes require access to raw materials. Many key players are maintaining good relationships with its suppliers and considers for their present and anticipated future requirement. The new entrance companies are expected to increase their business growth by building efficient supply chain with multiple suppliers and experimenting with product designs using different materials. It can also develop dedicated suppliers whose business depends upon the firm.

Manufacturers are constantly researching alternative formulations that rely on less volatile or more readily available raw materials. Sourcing raw materials from multiple suppliers is expected to help moderate the impact of price fluctuations from any single source for the joint compound key players. The industry is actively looking for solutions to address the challenge of volatile raw material prices. The manufacturers are expected to focus on potentially stabilize costs and ensure the continued growth of the joint compound market by applying solutions like innovation in formulations, supplier diversification and production efficiency improvements.
Joint Compound Industry Recommendation Insights:
Focus on Innovation: Investors are expected to have investment in research and development process to improve joint compound formulations, application methods, and sustainability features. Innovative products are expected to increase the product performance, efficiency, and environmental friendliness. Key players also focusing on the addressing emerging trends like environmental sustainability, customization, and digitalization of construction processes.

Expand Product Portfolio: Key players operating in the joint compound market are expected to concentrate on sustainability initiatives by integrating recycled materials, reducing waste, and minimizing environmental impact throughout the product lifecycle. They are also expected to drive some research activities to meet growing demand for sustainable construction materials with an introduction of joint compounds products with low VOC emissions, renewable resources, and recyclable packaging. It is some of the insights in the joint compound market. The report will cover the detail analysis of the joint compound industry recommendation.
Joint Compound Market Segment Analysis
Based on the type, Joint Compound Market is segmented into ready-mixed joint compound, setting-type joint compound, all-purpose joint compound, and lightweight joint compound. The report covers the detail analysis of the joint compound type with the market size numbers from (2023 to 2030). The report has covered the definition scope for ready-mixed joint compound, setting-type joint compound, all-purpose joint compound, and lightweight joint compound as Ready-Mixed Joint Compound is a pre-mixed, wet compound that comes in tubs or pails. It is convenient and easy to use, ideal for DIY projects or small repairs. The setting-Type Joint Compound comes in a dry powder form that needs to be mixed with water before use. It offers greater control over working time compared to pre-mixed options. All-Purpose Joint Compound is a versatile type of setting-type compound suitable for various applications. It is used for embedding tape, applying base coats, and even finishing coats. All-purpose compounds are a popular choice for both DIYers and professionals because of their flexibility.

Lightweight Joint Compound is a setting-type compound formulated with a lower density than traditional options. It is easier to sand and spread, making it ideal for larger areas, delicate applications, or for creating smoother finishes. Setting-type joint compounds are expected to held the dominant position in the global joint compound market. Setting-type compounds offer greater flexibility compared to ready-mixed options. It is formulated for different setting times, allowing for faster project completion on larger jobs or providing more working time for detailed tasks. Setting-type compounds are generally more affordable per unit compared to pre-mixed options, especially when considering larger projects. Setting-type compounds are offering a compelling combination of affordability, versatility, and control that makes them the preferred choice for many professionals and DIYers.

Based on the end use, joint compound market is segmented into residential construction, commercial construction and industrial construction.Residenatil application held a dominant position with a share of 40% share in the global joint compound market. The high volume of new home construction, renovations, and additions creates a constant demand for joint compounds. Residential applications typically use all-purpose setting-type joint compounds for a variety of tasks like embedding drywall tape, applying base coats and finishing coats. The growing popularity of DIY home improvement projects are expected to drive the demand for user-friendly joint compounds. The commercial application includes non-residential buildings like offices, retail spaces, and hospitals. Commercial projects require larger quantities of joint compound compared to residential applications. Performance factors like fire resistance or moisture resistance are some of the prominent considerations in commercial settings, which are mostly preffered in commercial applications. An Industrial Construction held a smallest share in the global joint compund market. It includes factories, warehouses, and power plants. It require specialized joint compounds formulated for specific purposes like high-durability compounds for heavy-duty environments or moisture-resistant compounds for areas with high humidity.

Based on the application, global joint compound market is segmented into New Construction and Refurbishments. The new construction segment includes construction of entirely new buildings, including both residential and commercial projects. New construction projects require larger quantities of joint compound compared to refurbishments because of the sheer volume of drywall that needs to be finished. Setting-type joint compounds are mostly preferred in new construction for their versatility and cost-effectiveness in large-scale projects. Refurbishment segment covers the renovation and repair of existing buildings. Many existing buildings require upgrades and repairs, creating demand for joint compounds. Homeowners are increasingly opting to renovate existing properties, which is expected to increase the demand for joint compunds.The setting-type and ready-mixed joint compounds are widely used in the refurbishments, the usage of type and volume quantity is depending upon the project size, complexity, and user experience level.


Joint Compound Market Regional Insight
Asia Pacific region held the dominant share with a more than 48% in the Joint Compound Market.
The report covers the detail analysis of joint compound market analysis by North America, Europe, Asia Pacific, Middle East & Africa and South America. According to the analysis, Asia Pacific held the dominant position and projected to continue its dominance during the forecast period during the forecast period. The region is experiencing a boom in residential and commercial construction projects by the some of the prominent factors like growth in population with increasing housing demand, and Government investments in infrastructure development. China's construction industry is one of the largest in the Asia Pacific region that is driving substantial demand for joint compound products in residential, commercial, and infrastructure projects. Rapid urbanization, and government infrastructure investments are expected to drive the joint compound in the developing economies.

India's construction industry is a major contributor to the national GDP, and its growth directly impacts the joint compound market. The Indian joint compound market is projected to grow at a more than 5.70% rate of CAGR during the forecast period. The demand for joint compound in India is driven by residential construction, commercial projects, and renovation activities in major urban states like Uttar Pradesh, and Maharashtra. Metropolitan cities like Mumbai, Delhi, Bangalore, Chennai, and Kolkata have significant construction activity, which is expected to drive the demand for joint compound in the residential, commercial, and infrastructure projects. The Indian government is focusing on affordable housing initiatives such as "Housing for All", that is expected to drive demand for joint compound products in residential construction. Affordable housing projects for low and middle-income segments are requiring cost-effective and efficient building materials like joint compound for interior finishing.


North America Joint Compound Market Insight:
The United States held a significant market for joint compound market and the market growth is driven by ongoing residential construction activity, renovation projects, and commercial developments. Demand for joint compound is increased by factors like infrastructure investments and presence of consumer base of DIY projects. Stringent building codes and sustainability initiatives are expected to drive the demand for product preferences and market dynamics across the North America.
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Global Joint Compound Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 5.44 Bn.


Forecast Period 2024 to 2030 CAGR:
5.88%
Market Size in 2030:
USD 8.12 Bn.


 Segments Covered:
by Product
Ready-Mixed Joint Compound
Setting-Type Joint Compound
All-Purpose Joint Compound
Lightweight Joint Compound


by End User
Residential Construction
Commercial Construction
Industrial Construction


by Application
New Construction
Refurbishments



Joint Compound Market, by Region
North America (United States, Canada, and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Leading Joint Compound Key Players include:
North America
1. DAP Global Inc. (U.S.)
2. Solid Products, Inc. (U.S.)
3. National Gypsum Services Company (u.S.)
4.Hamilton Drywall Products (U.S.)
Europe
1. Saint-Gobain (France)
2. Etex Group (Belgium)
3. Holcim (Switzerland)
4. Knauf Gips KG (Germany)
Asia Pacific
1. USGKnauf (Malaysia)
2. ASG Group (Australia)
3. India Gypsum Pvt. Ltd (India)
4. Chiyoda UTE Co. Ltd (Japan)
5. YOSHINO GYPSUM CO., LTD (Japan)
6. VANS Gypsum (India)
7. Osman Group (Bangladesh)
Middle East & Africa
1. Mada Gypsum (Saudi Arabia)
2. ZAWAWI MINERALS LLC (Oman)
3. Gypsemna Co LLC (UAE)
4. Global Mining Company (Oman)
5. Gulf Gypsum Industrial (UAE)

Frequently asked Questions:

1. What is Joint Compound?
Ans: Joint compound is also called as drywall compound. It is a substance, which is used in the construction and finishing of interior walls. Joint compound is applied to the joints, corners, and fastener indentations to make a smooth surface for painting or wallpapering.

2. How are technological advancements driving innovation in Joint Compound?
Ans: Improved Formulations, Advanced Application Techniques, Smart Monitoring and Quality Control and Environmental Sustainability are some of the technology advancement factors, which are expected to drive innovations in the Joint Compound.

3. Why is the Residential Construction segment dominating the Joint Compound market?
Ans: The dominance of the residential construction segment in the joint compound market is attributed population growth, urbanization, and the need for housing. Residential construction projects typically involve a higher proportion of drywall installation compared to other construction segments such as commercial or industrial projects.

4. What is the projected growth rate for Joint Compound Market during the forecast period?
Ans: The Joint Compound Market growth is expected to grow at a 5.88% rate of CAGR during the forecast period.