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Joint compound is a white powder of gypsum dust combined with water, which is used with fibre tape to seal joints between drywall sheets. This is done to create a smooth base for painting on interior walls. It is also known for finishing gypsum panel joints, corner beads, trimming and fastening. Furthermore, it is also used for skim coating. Additionally, repairing small blemishes or disruption to walls is also very useful when joint compounds are used. Rows, scratches, tears and other minor damage are quickly fixed by joint compounds.
The joint compound is mainly comprised of water, limestone, ethylene-vinyl acetate polymer, expanded perlite, attapulgite, and other ingredients. Binding properties obtained from these compounds are allowing industrial consumers to efficiently conduct operations. The advantages of a joint compound including easy-to-use and suitability for hand-applying for simple textures, makes it ideal for the application for the construction industries. It would further fuel the global joint compound market. However, there are issues related to harmful nature of certain joint compounds. Presence of certain ingredients, which can be harmful when inhaled. Joint compounds can come with high price requirements, which represents key challenge for growth of the global joint compound market
Key Market Driver -
Increasing application in construction industries is driving the market growth.
Key Market Restraint -
High prices and health concerns to confine the market growth.
Based on type, the market for joint compound is further segmented into single joint compound,and multi joint compound. Based on application, the market for joint compound is further segmented into industrial, residential, and commercial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The key players in the joint compound market includes, AGT Products (IP) Inc. DRICORE, Knauf (USG Corporation), Kuiken Brothers, Freeman Company, LLC, Proroc, Westpac, CTS Cement Manufacturing Corporation, Proform, Murco Petroleum, Dap and others.
Asia Pacific dominated the demand for joint compounds in the global market. Factors influencing the growth of the market in the region are the emergence of commercialization and industrialization. Emerging economies such as China and India are prominent consumers of joint compound. Because of the broad demand for a joint compound in the construction industry, the companies are investing in the Asian market to supply the joint compounds. North America accounts for a second largest share in the global joint compound market, owing to the favorable growth of the construction industry. The largest share on the joint compound market is held by the U.S. Excellent properties such as toughness, consistency and texture, which offers extended benefits in the construction application. Europe secures a moderate growth in the global market owing to the moderate growth of the construction industry. The increase in awareness of the consumers regarding durable buildings, good looking and polished walls has increased the demand for joint compounds in Europe. The joint compound is capable of removing the defects from the drywall surface. The presence of experienced manufactures in the region cater to the growing demand from the consumers. Latin America, Middle East and Africa are expected to showcase significant growth in the market due to significant growth of joint compound end-use industries.
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