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Putty is a plasticity index element, comparable to clay, typically used as coating or padding in the household maintenance and renovation. Putty was heavily used in tinting for fastening and encasing glass windows into wooden frames. Glazing putty is usually made by combining different proportions of a finely ground chalk with linseed oil. The main purpose is to fill in the porosity of the construction surface and to correct the curve deviation of the construction surface to lay a solid foundation for obtaining uniform and smooth paint and it is mainly composed of white cement, heavy calcium carbonate and additives.
Growing demands on manufacturing and significantly greater consumption in the construction sector drive the market. This is because putty powder is a kind of exterior filling material used prior to construction for treatment of the building exterior. It is also used as building materials, to contribute to make the exterior wall smoother. However, the existence of alternatives hinders the growth of the industry. There are a variety of synthetic alternatives, such as polybutene-based putties, is lower in molecular weight that replaces linseed oil, which in turn induces demand growth.
Key Market Driver -
Demand from manufacturing and greater application in construction industry drives the market.
Key Market Restraint -
Availability of substitutes restrict the market growth
Based on product type, the market for putty powder is further segmented into Interior wall putty powder and exterior wall putty powder. Based on application, the market for putty powder is further segmented residential and commercial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global putty powder market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the putty powder market includes Asian Paints, Birla White, Bauhinia, British Paints, Duobang, Dulux, Golchha Pigments, Langood, J.K. Cement Ltd, Lions, Meichao, Mapei, Meihui, and Nippon Paint.
In terms of Geography, the putty powder market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific region continues to dominate the putty powder industry both in terms of production and consumption. This can be approved to the growing usage of putty powder through wide usage in construction industries, before painting the walls. North America is witnessing substantial growth in the putty powder market as it is heavily used in putty powder industry for making the interior walls polished thus having a stable development. Europe holds a prominent share in the market. This can be attributed to considering the development of downstream industry. The exterior wall putty powder industry has got a stable development thus fueling the market growth of putty powder. Middle East and Africa is expected to see sluggish growth due to the presence of substitutes. Latin America has seen considerably slower growth in terms of the restricted range of companies trying to slow the industry growth.
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