India Jointing Compound Market 2027

1

2015 – 2025

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Published: October 2021

MARKET INTELLIGENCE . CONSULTING

www.techsciresearch.com

INDIA JOINTING COMPOUND MARKET

FORECAST AND OPPORTUNITIES

2017 – 2027

2© TechSci Research

Table of Contents

2

S. No. Contents

1. Product Overview

2. Research Methodology

3. Impact of COVID 19 on India Jointing Compound Market

4. Executive Summary

5. Voice of Customer

5.1. Brand Awareness & Brand Recall

5.2. Factors Considered While Selecting a Supplier

5.3. Customer Satisfaction Level

5.4. Major Challenges/Issues Faced Post Purchase of Jointing Compound

6. India Jointing Compound Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Product Type (Single, Multi)

6.2.2. By Application (Residential, Commercial, Industrial)

6.2.3 By Type (Taping, Topping, All Purpose, LITE Drying, Setting)

6.2.4. By Region (North, West, South and East)

6.2.5. By Top 10 States

6.2.6. By Company (FY2021)

6.3. Market Map


Table of Contents

3

S. No. Contents

7. India Single Jointing Compound Market Outlook




7.2.1. By Application

7.2.2. By Type

7.2.3. By Region

8. India Multi Jointing Compound Market Outlook




8.2.1. By Application

8.2.2. By Type

8.2.3. By Region

9. Market Dynamics

9.1. Drivers

9.2. Challenges

10. Market Trends and Developments

11. Pricing Analysis

12. Major Dealers of Jointing Compound in India

13. Import Export Analysis


Table of Contents

4

S. No. Contents

14. Value Chain Analysis

15. Policy and Regulatory Landscape

16. India Economic Profile

17. Company Profiles

17.1. Sakarni Plaster (India) Private Limited

17.2. Saint-Gobain Gyproc India Ltd.

17.3. USG Boral Building Products India Private Limited

17.4. India Gypsum Pvt Ltd.

17.5. Jayswal Interiors Pvt Ltd.

17.6. Dana Interiors Private Limited

17.7. Indus Industries Pvt. Ltd.

17.8. Gyptech Systems Pvt Ltd.

17.9. Durabuild Care Pvt. Ltd.

17.10. KKS Gypsum India Pvt. Ltd.

18. Strategic Recommendations

19. About Us & Disclaimer


S. No. Contents

Figure 1: India Jointing Compound Market Size, By Value (INR Crore), 2017-2027F

Figure 2: India Jointing Compound Market Size, By Volume (Tonnes), 2017-2027F

Figure 3: Sector-wise GDP in India (%), FY2021

Figure 4: India Jointing Compound Market Share, By Product Type, By Value, 2017-2027F

Figure 5: India Jointing Compound Market Share, By Application, By Value, 2017-2027F

Figure 6: India Jointing Compound Market Share, By Type, By Value, 2017-2027F

Figure 7: India Jointing Compound Market Share, By Region, By Value, 2017-2027F

Figure 8: India Jointing Compound Market Share, By Top 10 States, By Value, 2017-2027F

Figure 9: India Jointing Compound Market Share, By Company, By Value, 2021

Figure 10: India Jointing Compound Market Map, By Product Type, Market Size (INR Crore) & Growth Rate (%)

Figure 11: India Jointing Compound Market Map, By Application, Market Size (INR Crore) & Growth Rate (%)

Figure 12: India Jointing Compound Market Map, By Type, Market Size (INR Crore) & Growth Rate (%)

Figure 13: India Jointing Compound Market Map, By Region, Market Size (INR Crore) & Growth Rate (%)

Figure 14: India Single Jointing Compound Market Size, By Value (INR Crore), 2017-2027F

Figure 15: India Single Jointing Compound Market Size, By Volume (Tonnes), 2017-2027F

Figure 16: India Single Jointing Compound Market Share, By Application, By Value, 2017-2027F

Figure 17: India Single Jointing Compound Market Share, By Type, By Value, 2017-2027F

Figure 18: India Single Jointing Compound Market Share, By Region, By Value, 2017-2027F

Figure 19: India Multi Jointing Compound Market Size, By Value (INR Crore), 2017-2027F

Figure 20: India Multi Jointing Compound Market Size, By Volume (Tonnes), 2017-2027F

List of Figures

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S. No. Contents

Figure 21: India Multi Jointing Compound Market Share, By Application, By Value, 2017-2027F

Figure 22: India Multi Jointing Compound Market Share, By Type, By Value, 2017-2027F

Figure 23: India Multi Jointing Compound Market Share, By Region, By Value, 2017-2027F

Figure 24:India Other Non-Refractory Mortars and Concretes Import Scenario, By Value (INR Crore), FY2017-FY2021 (HS Code: 38245090)

Figure 25:India Other Non-Refractory Mortars and Concretes Export Scenario, By Value (INR Crore), FY2017-FY2021 (HS Code: 38245090)

Figure 26:India Non-Refractory Surfacing Preparation for Facades, etc. Import Scenario, By Value (INR Crore), FY2017-FY2021 (HS Code: 32149010)

Figure 27:India Non-Refractory Surfacing Preparation for Facades, etc. Export Scenario, By Value (INR Crore), FY2017-FY2021 (HS Code: 32149010)

Figure 28:India Products for Use as Glues/Adhesives Put Up for Retail Sale as Glues/Adhesives Net Exceeding 1 kg Import Scenario, By Value (INR Crore), FY2017-FY2021 (HS Code: 35061000)

Figure 29:India Products for Use as Glues/Adhesives Put Up for Retail Sale as Glues/Adhesives Net Exceeding 1 kg Export Scenario, By Value (INR Crore), FY2017-FY2021 (HS Code: 35061000)

List of Figures

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S. No. Contents

Table 1: Value of Construction to India's GDP, 2017-2021 (INR Billion)

Table 2: Major Natural Disasters in India

Table 3: Average Annual Rainfall of the States of India

List of Tables

7

Product Overview


Product OverviewProduct of Interest: Jointing Compound

Review Period

FY2017 – FY2020

Base Year

FY2021

Estimated Year

FY2022

Forecast Period

FY2023 – FY2027

Year RangeINDIA JOINTING COMPOUND

MARKET

The jointing compound is the white powder material applied to seal joints that exist between drywall sheets.

It is also often used as an alternative to traditional plastering to finish joints, corner beads, trims, and

fasteners. Jointing compounds are also known as drywall compound, joint cement and mud and are mainly

used in construction of buildings.

Market Segmentation

9

BY PRODUCT TYPE BY TYPE

• Taping

• Topping

• All Purpose

• LITE Drying

• Setting

BY APPLICATION

• Residential

• Commercial

• Industrial

• Single

• Multi

BY REGION

• North

• East

• West

• South


Product OverviewProduct of Interest: Jointing Compound

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• Taping Compound: Taping compounds are usually applied to joints with larger gaps between sheets or surface repairs where a

lightweight filling is needed. It can also act as a sealant and provide protection against nail pops, which creates small holes in the

wall when nailing them on surfaces such as wood floors. It is great for covering cracks.

• Topping Compound: Topping compounds are applied over the taping compound and act as a sealant, protecting against moisture.

They also protect joints from cracking due to temperature changes during installation or in case of an earthquake. It is smooth and

it can be saved and reused.

• All-Purpose Compound: All-purpose jointing compound is used for all phases of the drywall process, including finishing, joints,

textures, and skimming, spotting fasteners, and covering cracks. All-Purpose jointing compounds are typically thicker to allow for

more compaction before the next layer can be applied or need to be reworked. It is lightweight and has a highly durable surface.

• LITE Drying Compounds: LITE drying compounds are designed to reduce weight, odor, and cost. They use less filler in the

compound formulation which results in lower material costs as well as a lighter product that is easier for contractors to work with

on-site.

• Setting Compounds: Setting compounds are the type of jointing compound used to seal and cover seams, cracks, or holes in

ceilings, walls, and other surfaces. They are typically mixed with a latex additive for increased flexibility.

Research Methodology



✓ Identifying Key Opinion

Leaders

✓ Questionnaire Design

✓ In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to

determine top players, overall market size and

segmental market size in India jointing compound

market.

In order to conduct industry experts’

interviews, TechSci formulated a detailed

discussion guide.

List of industry players and industry

specialists was developed.

TechSci conducted interviews with

industry experts and industry players for data collection and

verification.

Data obtained as a result of primary and secondary research was

validated through rigorous

triangulation.

The data was scrutinized using MS-Excel, statistical

tools and internal proprietary database to obtain qualitative and

quantitative insights about India jointing compound

market.

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

Primary Research Desk Research Company Analysis

✓ Recent Developments

✓ Market Changing

Aspects/Dynamics

✓ Government Policies

✓ Conclusion

✓ Market Participants

✓ Key Strengths

✓ LinkedIn✓ TechSci Internal

Database

✓ Factiva✓ Hoovers

Paid Sources

✓ Company Websites✓ Company Annual

Reports✓ White Paper Study✓ Financial Reports✓ Investor Presentations✓ Regulatory Body

Secondary ResearchPrimary Research

12



13

Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of India jointing compound market. The team

has analyzed the outlook of various segments of this market, while considering the major influencing factors and projected growth

during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while

planning their strategy to achieve sustainability in India jointing compound market.

Methodology Followed for Calculation of Market Size:

Market Size by Value & Volume: Market size, in terms of value & volume, for the year FY2021 was calculated based on

information collected through exhaustive secondary research and primary surveys, with various key opinion

leaders/stakeholders and industry experts.

The team interviewed more than 20 companies, 50 industry experts and other value chain stakeholders in India jointing

compound market to obtain the overall market size during FY2017-FY2021, which was validated by the Delphi technique. Taking

standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2017-2021.



14

Respondents were asked about the current and future market growth rates, as well as market shares by product type, by

application, by type, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates

and provider wise revenue shares generated across various segments were considered to arrive at the final revenue shares.

Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the

component.

Methodology Followed for Calculation of Market Shares:

Market shares by product type, by application, by type, by region, and by company were calculated based on the responses

received through primary surveys with industry experts, in which the respondents were asked about the market shares of the

leading jointing compound players. The final shares were calculated by taking the geometric mean of the responses gathered

from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies

operating and their competitive structure in India jointing compound market.

Methodology Followed for Forecasting:

TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the

survey results in SPSS/Tableau Software.



15

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast

India jointing compound market, TechSci Research used various forecast techniques such as:

o Moving Average

o Time Series Analysis

o Regression Analysis

o Econometric and Judgmental Analysis

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions.

TechSci Research also used the impact analysis during short, medium and long term period to estimate and analyze market

demand scenario.

Partial List of Companies Interviewed

Sakarni Plaster (India) Private Limited, Saint-Gobain Gyproc India Ltd., USG Boral Building

Products India Private Limited, India Gypsum Pvt Ltd., Jayswal Interiors Pvt Ltd., Dana

Interiors Private Limited, Indus Industries Pvt. Ltd., Gyptech Systems Pvt Ltd., Durabuild

Care Pvt. Ltd. and KKS Gypsum India Pvt. Ltd., among others

Partial List of Secondary Sources

Company Annual Reports, Press Releases, Industry Magazines, Industry Reports, Company

Websites, TechSci Research Proprietary Database & Knowledge Repository, etc.

Note: (a) Sum of some shares may not be 100% due to round off till two decimal places.

(b) The data given for any year represents the market during the period, i.e., 1st April of the previous year to

31st March of that year. eg: For 2022E, the data represents the period, 1st April 2021 to 31st March 2022.


Industry Brief

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Boom in urban housing projects and rising need for renovation to drive India jointing compound market through 2027F.

According to TechSci Research report, “India Jointing Compound Market By Product Type (Single, Multi), By Application (Residential,

Commercial, Industrial), By Type (Taping, Topping, All Purpose, LITE Drying, Setting), By Region, Competition Forecast &

Opportunities, 2017-2027”, India jointing compound market was valued at INR122.61 crore in 2021 and is projected to grow at a CAGR of

5.76% to reach INR170.15 crore by 2027. The growth in the India jointing compound market can be ascribed to aging building structures and

expansion of metro rail projects. Jointing compounds are used for final touch up to prevent damping and cracks, hence, are increasingly being

used in metro station construction. Besides, expansion of Indian metro in various cities is expected to push the growth of the market through

2027. With the Indian government's primary priority being "Housing for All" and infrastructure reforms, and Smart Cities program, demand for

jointing compounds in housing such as for flooring, ceiling & wall is growing steadily. In addition, the Indian government is focusing on

construction development by enacting policies such as FDI regulations and huge budget allocations for housing sector.

Sudden outbreak of COVID-19 adversely impacted infrastructural activities as government mandated halting of non-essential activities. Slowed

development projects coupled with labor shortage negatively impacted the growth of the market. However, post lockdown, the market recovered

to some extent with the opening up of production units, manufacturing plants, and other industries. It is expected that India jointing compound

market will grow marginally and is projected to reach INR170.15 crore by FY2027.

India jointing compound market is segmented into product type, application, type, regional distribution, and company. Based on product type, the

market can be segmented into single and multi. Single segment accounted for the share of over 66% in 2021 and the segment is anticipated to

continue dominance through 2027. Anticipated growth of the segment can be attributed to increasing application of jointing compounds in

repairing of cracks ceilings or walls of aging building structures. Usually, ceiling cracks are caused by structural damage or settling due to

earthquakes, floods, or other natural calamities. Single jointing compounds are effective in repairing all these types of cracks in buildings.

Sakarni Plaster (India) Private Limited, Saint-Gobain Gyproc India Ltd., USG Boral Building Products India Private Limited, India Gypsum Pvt

Ltd., Jayswal Interiors Pvt Ltd., Dana Interiors Private Limited, Indus Industries Pvt. Ltd., Gyptech Systems Pvt Ltd., Durabuild Care Pvt. Ltd.,

KKS Gypsum India Pvt. Ltd., among others are the leading players operating in the India jointing compound market. Market is highlyconsolidated with five players accounting for 34% share in 2021.

“Western Region was the fastest growing region in the jointing compound market, with a CAGR of 2.05% from 2017-2021, and the same trend is

anticipated to continue over the forecast years with Western region expected to grow at a CAGR of 6.12% from 2022-2027. Favorable

government regulations for the construction projects such as Mumbai Ahmedabad High-Speed Rail Corridor, Delhi-Mumbai Industrial Corridor

Project, Mumbai Development Plan 2034, Bengaluru Mumbai Industrial Corridor Project are anticipated to create new opportunities for industry

players in the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


Sample Data - Snapshot

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2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F

Value (INR Crore)

India Jointing Compound Market Size, By Value (INR Crore), 2017-2027F

CAGR 2017-2021By Value: xx%

CAGR 2022E-2027FBy Value: xx%

India Jointing Compound Market Share, By Product Type, By Value, 2017-2027F

2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F

Single 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%

Multi 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%

India Multi Jointing Compound Market Share, By Type, By Value, 2017-2027F

2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F

All Purpose 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%

Topping 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

Taping 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%

LITE Drying 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%

Setting 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%


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FORECAST AND OPPORTUNITIES2017 – 2027

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India Jointing Compound Market 2027

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