Joint Compound Market 2021 Top Manufacturers, Industry Share, Regional Investments and Future Trends by 2028
Posted on Apr 9 2021 5:22 AM
"Joint Compound Market report summaries detailed information by top players as AGT Products (IP) Inc. DRICORE, Knauf (USG Corporation), Kuiken Brothers, Freeman Company, LLC, Proroc, Westpac, among others"
The global joint compound market is likely to experience dynamic growth in the forthcoming years as a result of rapid innovations and technological advancements, along with speedy globalization. joint compound market size is forecasted to reach the Highest Revenue by 2028.
According to a report published by Fortune Business Insights, titled “Joint Compound Market Size, Share & Industry Analysis, By Produt Type (Single Joint Compound, Multi Joint Compound), By Application (Industrial, Residential, Commercial) and regional forecast 2021-2028,” Furthermore, the market is anticipated to exhibit the highest CAGR during the forecast period 2021 to 2028
Some of the Key Players of the Joint Compound Market include:
The global market is fairly fragmented and a number of global and regional players operate in the market.
- AGT Products (IP) Inc.
- Knauf (USG Corporation)
- Kuiken Brothers
- Freeman Company, LLC
- CTS Cement Manufacturing Corporation
- Murco Petroleum
COVID-19 Impact Analysis:
The coronavirus occurrence has caused severe loss and damage to industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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The chemical industry has undergone tremendous changes over the past decade. Armed with an extensive and diverse range of products, the industry has found prolific success in developing as well as developed economies. Post the economic recession of 2007, this industry has grown at a steady pace. Spreading awareness about environmental issues and evolving consumer preferences are positively impacting this industry. As per the European Chemical Industry Council, the demand and consumption of chemicals in Europe is anticipated to increase. Targeted investments in R&D for developing novel chemical-based products are likely to feed the proliferation of factories and other industrial units. Furthermore, the surging demand for chemicals is a consequence of increasing consumer spending. Employment in this sector is also expanding at a rapid rate, which in turn is expected to generate several growth opportunities. These factors are thus expected to drive Joint Compound Market share in the forthcoming years.
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.
By Product Type
- Single Joint Compound
- Multi Joint Compound
- North America (USA, and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Key Points Covered:
- Business Opportunities
- Commerce Challenges
- Demand Insights
- CAGR Values
- Historic Analysis
- Detailed Segmentation
- Top Companies Data
- Market Size
- Supply Trend
- Target Audience
- Key Geographies
Digitization is an emerging trend in the chemical industry, which is driving Joint Compound Market share. Digital tools will help companies to collect and analyze important and relevant data and draw valuable insights, thereby enabling them to make more informed and better quality decisions. Advanced technologies such as machine learning (ML), artificial intelligence (AI), Internet of Things (IoT), blockchain, and others are envisaged to disrupt the present governing dynamics of the Joint Compound Market. Increasing urbanization and globalization, especially in emerging economies, is further supporting the expansion of the Joint Compound Market.
Joint Compound market report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
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- Regular report updates
However, Joint Compound Market growth is likely to be hindered by the COVID-19 pandemic as lockdowns, social distancing, and trade restrictions have caused massive disturbances in the global supply chain networks. Production operations have slowed down as plants and factories are being forced to function with a reduced workforce. Together, these factors have shrunk the revenues of key players in this market, which will inevitably hamper investments in the market. Nonetheless, certain companies will also experience exponential growth owing to the escalating demand for packaged medical and pharmaceutical products, personal protective equipment, and packaged food & beverage items.
Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
Joint Compound Market growth report contains market revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global market report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the market report offers a complete analysis of the current situation and the advancement possibilities of the market across the globe.
This report analyses substantial key components such as production, capacity, revenue, price, gross margin, sales revenue, sales volume, growth rate, consumption, import, export, technological developments, supply, and future growth strategies.
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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Fortune Business Insights™ helps you identify track and stay ahead of your competition through our competitor research studies, our services Include;
- SWOT Analysis
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Joint Compound analysis report offers an in-depth evaluation of the chemical industry and the demand drivers for chemicals by highlighting information on several aspects of the market, including drivers, trends, opportunities, and challenges. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers. These advancements will help companies to gain a decisive advantage in the competitive landscape of the market. Companies are also adopting diverse strategies to stay ahead of their competitors. These strategies include mergers and acquisitions, partnerships, collaborations, and new product developments, among others.
The information has been gathered through primary and secondary sources, comprising of interviews from several industry experts and professionals. Secondary sources such as press releases, information from recognized institutes, and other collaterals have been utilized to holistically analyze the industry. Further, top-down and bottom-up approaches have also been employed to ensure 360-degree assessment.
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JOINT COMPOUND INDUSTRY DEVELOPMENTS
- April 24, 2019: Knauf completed the acquisition of leading joint compound manufacturer USG Corporation. The acquisition was done to expand company’s geographical footprints in building material applications around the world and to meet growing demand from consumers.
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