Joint Compound Market

Joint Compound Industry Outlook

As per rigorous research by ChemView Consulting, our analysts forecast that the global joint compound market is expected to reach a valuation of USD 7624.8 million and will grow at a 5.2% CAGR during 2023 to 2033.

Key Findings on the Joint Compound Sector

1. Which is the largest market for joint compounds?

The biggest joint compound industry is North America. As per our analysis, the region holds nearly 30.5% share of the global market.

2. What is the largest end-use segment within the joint compound market?

As per Chem View Consulting, the largest segment by end-use is residential. As per our analysis, this segment accounts for nearly 41.3% of total revenues.

3. At what rate is the market expected to grow?

The joint compound sector is expected to grow at a CAGR of 5.2% during the period 2023–2033.

4. What are the major trends influencing the joint compound business expansion?

• Technological Advancements: Innovations in joint compound formulas and application procedures are increasing efficiency and convenience of use for both professionals and home improvement enthusiasts.
• Digitalization and E-Commerce: Online platforms are making it easier for clients to research, compare, and purchase joint compounds, which is boosting market expansion.

5. Who are the leading players in the joint compound market?

The key companies in the business landscape are USG Boral, Solid Products, Inc., DAP Products Inc., ProForm Finishing Products LLC., Freeman Products, Inc., Compagnie de Saint-Gobain S.A., Supermastick S.A.S., ASG Plaster, India Gypsum Pvt. Ltd., Hamilton Drywall Products, Hilti, Chiyoda UTE Co. Ltd., Molyslip, AGT Products Inc., Kuiken Brothers, Westpac, Proroc, Murco Petroleum, and Knauf Gips.

Key Drivers for Joint Compound Demand

• The expansion of the real estate and construction sectors is a major driver of the joint compound industry. As the number of residential, commercial, and industrial buildings increases, so does the demand for joint compounds used in drywall finishing.
• In addition, as older structures are renovated and remodeled, joint compounds are necessary to repair and finish walls and ceilings. The practice of renovating existing houses helps to drive the joint compound market growth.
• Furthermore, increasing environmental awareness and adherence to environmental rules and sustainability requirements impact building material selection. Eco-friendly joint compounds with minimal VOC (volatile organic compound) emissions and manufactured from sustainable materials gain commercial popularity.

Key Challenges Inhibiting Demand for Joint Compound

• Joint compounds rely on raw materials such as gypsum, which might fluctuate in price. These variations can have an impact on production costs and, as a result, product pricing.
• Moreover, economic downturns can limit construction and remodeling activity, which has a direct impact on demand for joint compounds. Market expansion may be hampered during economic downturns.

Key Challenges & Opportunities for Manufacturers in Joint Compound Market

• Maintaining consistent product quality between batches and ensuring that the joint compound fulfills established industry requirements can be difficult. Variations in raw materials, manufacturing techniques, or equipment can all lead to quality control concerns.
• However, manufacturers can benefit from government-funded infrastructure and construction projects, which frequently require large amounts of joint compounds.

Country/Region-wise Insights

US Joint Compound Market Forecast 

• The increasing trend of home renovations and remodels in the US market is projected to observe significant growth in the estimated period. The US joint market is likely to account for a leading share of the global industry.
• Additionally, technological developments in joint compound formulations, as well as increased awareness of the benefits of these compounds among construction specialists, are moving the market ahead.

Europe Joint Compound Industry Outlook 

• A thriving construction industry propelled by an increase in infrastructure development, renovation projects, and residential construction in the Europe market is anticipated to drive sales in the market over the assessment period.
• In addition, a growing emphasis on environmentally friendly and sustainable building materials is driving the adoption of joint compounds, which are becoming increasingly recognized for their eco-conscious properties.

Japan Joint Compound Market Analysis

• A booming construction industry propelled by continued infrastructure development and an increase in real estate developments in the Japanese market is anticipated to drive the market over the forecasted period.
• Additionally, the growing awareness of the need for effective wall finishing and repair work has spurred the use of joint compounds by both experts and do-it-yourself enthusiasts.

China & India Joint Compound Industry Forecast

• Growing urbanization, renovation projects, and increased awareness of the benefits of employing joint compounds in buildings in the Chinese & Indian markets are anticipated to fuel the market over the forecast period.
• In addition, the growing trend of interior décor and renovations boosts demand for joint compounds even further, making the market even more promising.

Joint Compound Market Outlook & Forecast by Segmentation

By Product Type 

Based on product type, the ready mix segment is expected to remain at the forefront of joint compound industry size over the assessment period. The growth is mainly because ready-mix joint compounds are created in controlled facilities, which aids in maintaining consistent quality across batches. This consistency is critical for achieving smooth and seamless plasterboard finishes. When using ready-mix compounds, users may expect consistent results without the risk of incorrect mixing ratios.

Furthermore, ready-mix joint compounds are pre-mixed and ready to use, saving both professional contractors and DIY enthusiasts time and effort. This simplicity is a primary driver of its market share because it eliminates the need for on-site mixing and ensures constant quality.

By End-use

Based on end-use, the residential segment is set to account for 41.3% of the joint compound market share over the assessment period. The growth is because residential construction is a major driver of the business development. With the world’s population and urbanization increasing, there is a constant demand for housing and residential infrastructure. As a result, joint compound is being used more frequently in homes for drywall finishing and repairs.

Furthermore, homeowners frequently engage in restoration and remodeling projects to improve their living spaces or increase the value of their residences. A joint compound is required for repairing and finishing walls and ceilings during these projects, which increases its demand in the residential sector.

Which Company Owns the Largest Share in the Joint Compound Market?

The key companies in the joint compound industry scenario are USG Boral, Solid Products, Inc., DAP Products Inc., ProForm Finishing Products LLC., Freeman Products, Inc., Compagnie de Saint-Gobain S.A., Supermastick S.A.S., ASG Plaster, India Gypsum Pvt. Ltd., Hamilton Drywall Products, Hilti, Chiyoda UTE Co. Ltd., Molyslip, AGT Products Inc., Kuiken Brothers, Westpac, Proroc, Murco Petroleum, and Knauf Gips.

Recent Developments:

• In March 2023, Hilti, a worldwide corporation that develops, manufactures, and markets construction and building maintenance products established a strategic alliance with Canvas, a firm that specializes in robotics for the construction industry and has created a robotic drywalling system to enable people to build in bold new ways.
• In October 2022, Molyslip, a lubricant manufacturer situated in the United Kingdom, unveiled a new tool joint compound called COPASLIP TJC at one of the biggest and most important oil and gas shows in the world.

As per our analysis, the companies that hold the largest share of the joint compound market are

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Freeman Products, Inc.

Founded in 1979 and located in Broken Arrow, Oklahoma, it has been producing high-quality drywall products that are responsive to the needs of our customers.

ProForm Finishing Products, LLC

It is a market leader in providing unique drywall finishing materials for the most challenging tasks.

DAP Products, Inc.

Established in 1957 with headquarters in Baltimore, Maryland, United States, it makes latex caulks, silicone sealants, insulating foams, adhesives, and patch & repair solutions.

Solid Products, Inc.

Founded in 2005, it has long been a prominent producer of high-quality polymers for concrete repair and joint fill systems.

USG Boral

Founded in 1902, it is a market leader in gypsum-based wall and ceiling lining systems, mineral fiber acoustical ceiling systems, metal frames, joint compounds, high-performance panels, and accessories.

What Makes this Report More Insightful than Others?

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The future is data-rich and insights-driven, and with ChemView Consulting, you are poised at the forefront. Every report is crafted to inspire, and every insight is designed to catalyze growth. Partner with us, and let’s co-create the future of your business.

Summary

The joint compound market is projected to reach a significant value of USD 7624.8 million by 2033, driven by a robust 5.2% CAGR during the period 2023–2033. Key industry players actively contributing to its growth are USG Boral, Solid Products, Inc., DAP Products Inc., ProForm Finishing Products LLC, Freeman Products, Inc., Compagnie de Saint-Gobain S.A., Supermastick S.A.S., ASG Plaster, India Gypsum Pvt. Ltd., Hamilton Drywall Products, Hilti, Chiyoda UTE Co. Ltd., Molyslip, AGT Products Inc., Kuiken Brothers, Westpac, Proroc, Murco Petroleum, and Knauf Gips. The largest market segment by end-use is residential, while North America emerges as the dominant region in this market.

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