Wall Putty Market
Wall Putty Market (Type: White Cement-based, Acrylic-based, Gypsum-based, and Others; and End User: Residential [Interior and Exterior] and Commercial [Interior and Exterior]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Booming Construction Sector to Drive Wall Putty Market
Over the past couple of decades, the demand for low-value products, including distemper and wall putty has witnessed notable growth. The booming construction sector across the world, particularly in developing nations of the Asia Pacific region, is expected to play a key role in the growth of the wall putty market in the coming years. The wall putty market is highly fragmented, owing to increasing presence of wall putty manufacturers worldwide. The significant growth of the construction sector and exponential rise in the number of infrastructure development projects and residential and commercial projects across developed as well as developing regions are some of the leading factors that are expected to boost the demand for wall putty in the near future.
The demand for wall putty is expected to scale new heights as the use of sustainable products for a range of interior applications has gained significant momentum in the past few years – a trend that is likely to continue during the forecast period. The rise in the global population has resulted in rapid urbanization in developing regions – another factor that is expected to provide an impetus for growth of the wall putty market during the forecast period (2019-2027). While residential and commercial projects are on the rise in Asia Pacific, non-residential projects across North America are likely to provide lucrative opportunities to the players in the market. These factors, along with continual efforts to improve the quality of wall putty are anticipated to drive the wall putty market, which is expected to reach a value of ~US$ 4 Bn by the end of 2020.
To gauge the scope of customization in our reports Ask for a Sample
Growing Preference for Wall Putty over Plaster of Paris Augment Market Growth
The construction industry is growing at a rapid pace, particularly in nations such as India, China, Malaysia, Indonesia, and Thailand in Asia Pacific. The significant growth of the construction sector has directly impacted the expansion of the wall putty market, owing to the advantages of wall putty over plaster of Paris (POP). Stakeholders in the construction market are consistently seeking solutions to provide the most suitable finishing to the structure. While POP has its own share of benefits, the uptake of wall putty within the construction sector has gained a steady pace in recent years and the trend is set to continue during the forecast period.
The demand for wall putty continues to grow due to its exceptional characteristics, such as longer life span, high adhesiveness, and water resistance. Wall putty is primarily made of white cement, and used for interior as well as exterior applications. Furthermore, owing to favorable properties of wall putty, including high binding property, optimum tensile adhesion, and compressive strength, there is a notable rise in the demand for wall putty in construction projects worldwide.
Get an idea about the offerings of our report from Report Brochure
Within the wall putty market, the demand for wall putty is projected to remain higher in the residential sector. In terms of end user, the residential segment is expected to reach a value of ~US$ 2.7 Bn by 2020, accounting for ~66% market share in the same year.
Stakeholders Launch New Products to Gain Competitive Edge
Stakeholders operating in the wall putty market are increasingly focusing on expanding their product portfolio to gain an advantage in the fragmented market landscape. Several companies, particularly in the Indian subcontinent, are improving the quality of their products by investing resources in research and development activities and leveraging advanced technologies.
For instance, in April 2019, JK Cement launched the JK Cement ShieldMaxX, white cement waterproof wall putty in multiple states in India. The company revealed that the new product was manufactured using the cutting-edge German technology, and will significantly improve the durability of the paints. Sensing the growing demand for white cement-based primer, the company launched the JK PrimaxX.
Based on type, the white cement-based segment is set to retain the pole position during the forecast period, in terms of value and market share. This type segment is expected to account for ~43% share of the wall putty market and reach a value of ~US$ 1.7 Bn in 2020.
Looking for Regional Analysis or Competitive Landscape in Wall Putty Market , ask for a customized report
The wall putty market is expected to expand at an impressive CAGR of ~7% during the forecast period. The significant rise in the number of construction projects worldwide and growing demand for white cement-based primers are some of the leading factors that are driving the market for wall putty. Despite the growing demand for white cement-based wall putty, the adoption of gypsum-based primers is rising. Stakeholders in the current market landscape should focus on expanding their product portfolio by launching new types of wall putty with improved functionalities. Moreover, to increase their sales, manufacturers should market their products on various e-Commerce platforms.
Wall Putty Market: Overview
- Wall putty primarily fills in the porosity of the construction surface and corrects its curve deviation to lay a solid foundation for obtaining uniform and smooth paint
- It is a white cement-based polymer modified material that is used as a finish coat to cover unevenness and pinholes in plastered surfaces
- The wall putty market in Asia Pacific is anticipated to expand at a significant pace in the near future, owing to the growth in the building & construction industry in the region
Key Growth Drivers of Wall Putty Market
- Wall putty offers excellent bonding to base concrete or plastered surfaces. Therefore, it can create a smooth undulation-free surface for paint finish when applied over exterior or interior walls of a home.
- Wall putty exhibits excellent adhesion strength, good workability, control over vapor permeability, and abrasion resistance. It also resists growth of algae and fungi on the wall. Furthermore, wall putty provides excellent finish and paint effects.
- Home improvement activities and decrease in repainting cycle are expected to boost the demand for wall putty across the globe. Rise in renovation and reconstruction activities across the globe is estimated to propel the wall putty market, as wall putty is largely employed in painting applications. Wall putty is increasingly used to correct curve deviation of interior wall surfaces in order to obtain smooth and uniform interiors for repainting walls.
Major Challenges for Wall Putty Market
- Rise in usage of decorative substitutes such as wallpaper, gypsum board, glass designs, and drywalls in North America and Europe is a key factor hampering the wall putty market in these regions
- Preference of wall putty on exterior walls is low, as it may absorb rainwater and not protect the paint on exterior wall from moisture ingress in the surface. Furthermore, wall putty is likely to peel off in hot climatic conditions. These factors are anticipated to hamper the wall putty market in the near future.
Lucrative Opportunities for Wall Putty Market
- Players operating in the wall putty market have the opportunity to develop new and innovative products to acquire large share of the wall putty market
- Increase in demand for specialized products, owing to changing lifestyle, urbanization, rise in income levels, and growth in preference of decorative houses and commercial places is projected to create lucrative opportunities for modification and development of specialized products
- Rise in demand for paints, and incentives offered to paint suppliers by wall putty manufacturers for the sale of wall putty with paints are expected to drive the demand for wall putty during the forecast period
Asia Pacific to Dominate Wall Putty Market
- Asia Pacific is estimated to create lucrative opportunities for the wall putty market during the forecast period. Rise in population in the region is a key factor fueling the wall putty market in Asia Pacific.
- Growth in the building & construction industry in Asia Pacific is projected to propel the demand for wall putty. Asia Pacific accounted for a prominent share of the global residential building construction sector in 2018. Economic growth in emerging markets in Asia Pacific is augmenting the building & construction industry. This, in turn, is anticipated to drive the wall putty market in the region.
- The construction sector in India is estimated to expand almost twice as fast as that in China in the near future. Urban population in the country is expected to increase to 165 million by 2030. Rise in urbanization and expansion of the residential sector are projected to boost the construction industry in India. This, in turn, is likely to drive the wall putty market in the country.
- Rise in construction activities in Brazil is expected to create opportunities for the market in Latin America during the forecast period. The wall putty market in Middle East & Africa is also expanding considerably, owing to the growth in the number of construction projects in the region.
High Demand for Wall Putty from Residential Sector
- Based on end user, the residential segment is anticipated to expand at a significant pace during the forecast period. Growth of the housing sector and rise in urbanization are estimated to propel the wall putty market in developing economies.
- The wall putty market is primarily driven by construction activities in emerging economies. Increase in the number of commercial buildings across the globe is anticipated to create opportunities for the wall putty market.
- The commercial segment is anticipated to expand at a significant pace during the forecast period. Demand for wall putty in the commercial sector is high, owing to increase in demand for fancy and comfortable offices across the globe.
- Increase in new construction in the commercial sector is also estimated to propel the demand for wall putty during the forecast period
Major Players in Wall Putty Market
- Key players operating in the global wall putty market include
- UltraTech Cement Ltd.
- JK Cement Ltd.
- Walplast Products Pvt. Ltd.
- Diamond Retail Mart Pvt. Ltd.
- Asian Paints
- Saint - Gobain Gyproc India Ltd.
- Platinum Waltech Ltd.
- Plaster Infratech India
- Berger Paints India Limited
- Kaya Maya Industries
- Sika AG
- The wall putty market is slightly consolidated. However, large numbers of domestic manufacturers operate at the country level. The market is fragmented for these domestic players.
- Large numbers of wall putty manufacturers operate across the globe. However, majority of the share is held by a few major companies such JK Cement Ltd., Walplast Products Pvt. Ltd., and UltraTech Cement Ltd.
Wall Putty Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global wall putty market to accurately gauge its future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the wall putty market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the wall putty market will progress during the forecast period of 2019 to 2027.
The report offers intricate dynamics about the different aspects of the wall putty market that aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the wall putty market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the wall putty market, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (kilo tons).
This study covers a detailed segmentation of the wall putty market, along with key information and a competitive outlook. The report mentions company profiles of key players that are currently dominating the wall putty market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Wall Putty Market
The report provides detailed information about the wall putty market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the wall putty industry, so as to help them make successful strategies and take target-driven decisions.
- Which type of wall putty will emerge as a major revenue generator for the market during the forecast period?
- How are key market players successfully earning revenue out of the advantages of wall putty?
- What will be the Y-o-Y growth of the wall putty market between 2019 and 2027?
- What are the winning imperatives of market frontrunners in the wall putty market?
- Which end-user is expected to offer lucrative opportunities for wall putty during the forecast period?
- Which are the leading companies in the wall putty market?
Research Methodology – Wall Putty Market
The research methodology adopted by analysts for combining the wall putty market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the wall putty market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the wall putty market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the wall putty market.
Wall Putty Market – Segmentation
TMR’s research study assesses the wall putty market on the basis of type, end user, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the wall putty market.
Others (including Colored Plaster and Drywall Clay)
Middle East & Africa