The growing demand for residential construction in various developing economies due to increasing urbanization is one of the main driving factors of the mixed compounds market. According to Future Market Insights (IMF), the global gasket compounds market is expected to grow at a CAGR of over 5.0% during the forecast period 2021-2031. The application in the home improvement segment is expected to increase at an impressive rate which will promote the growth of the global market. In addition to this, the increasing demand for application of joint compound for home improvement due to the increasing consumer need for better and more environmentally friendly homes is expected to drive the market growth.
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Asia-Pacific and North America dominate the market for mixed compounds. Being a consolidated market, manufacturers are focused on increasing their sales and distribution networks in all regions. They also focus on the development of new products by increasing their investments in research and development initiatives.
Key points of the market research
- The joint compound market was estimated at US $ 1.15 billion in 2021 and is expected to grow at a CAGR of 5% during the forecast period.
- The demand for joint compounds for residential construction application is expected to increase at a CAGR of 5.2% over the next ten years.
- Ready mix accounted for 56.9% of the market share in 2021 and is the highly preferred product type in the market.
- The market in China and India is expected to grow at a CAGR of over 6% each, through 2031.
- The demand for joint compounds in the home improvement segment exceeded US $ 464.0 million in 2020.
âCountries like the United States, China and India are expected to show strong demand for mixed compounds due to rising construction spending and rapid urbanization. Due to the onset of COVID-19, demand has been strongly impacted in 2020, âsays an analyst from Future Marketing Insights.
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The global mixed compounds market has been identified as a significantly fragmented market, with a number of key players present in the overall market. Some of the major players included in the report, such as
- US Government Boral,
- DAP Products Inc.,
- Solid Products, Inc.,
- ProForm Finishing Products, SARL,
- LATICRETE International, Inc.,
- Company of Saint-Gobain SA,
- Freeman Products, Inc.,
- Georgia-Pacific Corporation,
- Kuiken Brothers,
- SAS Supermask,
- Hamilton Drywall Products,
- ASG plaster,
- India Gypsum Pvt. Ltd.
and others are expected to create a difficult competitive environment globally.
Want to know more?
Future Market Insights has published a market research report on the Global Functional Continuous Coatings Market that contains global analysis for 2016-2020 and assessment of opportunities for 2021-2031. The report provides in-depth analysis of the Global Functional Coil Coatings Market across six different segments –
Mixed Compounds Market by Category
By product type:
- Ready mix
- Parameter type
- Drying type
By end use:
- Residential construction
- Commercial construction
- Institutional construction
- Industrial construction
- New construction
- North America
- Latin America
- East Asia
- Middle East and Africa (MEA)
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The Chemicals and Materials division of FMI offers distinct and precise analyzes of the chemicals and materials industry. Coverage of the chemicals and materials The market ranges from commodities, bulk, specialties and petrochemicals to advanced materials, composites and nanotechnology. The team also emphasizes âgreen alternativesâ, recycling and renewable technology developments, and commercial assessment of supply and demand. Our research studies are widely referenced by chemical manufacturers, research institutes, channel partners and government development agencies – “The Way Ahead”.