Interior Wall Putty Powder Market By type (Cement-based Putty and Gypsum-based Putty), By Application (Residential and Commercial), and Region - Global Forecast to 2023

The global interior wall putty powder market is expected to value at nearly US$ 2.5 Bn in 2019, and is expected to register a CAGR of 6.1%. The report offers in-depth insights, revenue details, and other vital information regarding the global interior wall putty powder market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2023. The report also offers insightful and detailed information regarding the various key players operating in the global interior wall putty powder market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global interior wall putty powder market is segmented on the basis of type, application, and region.

Global Interior Wall Putty Powder Market: Introduction

Interior wall putty powder is a type of a polymer polishing material composed and functional additives, that is applied prior to paints or primer in order to provide a smooth and uniform finish to the wall surface.

Global Interior Wall Putty Powder Market: Dynamics

Ongoing and increasing number of infrastructure development activities in various developed and developing countries is expected to drive growth of the global market over the forecast period.

According to China’s 13th Five-Year Plan for Strategic Emerging Industries Development (2016–2020), the government has undertaken an initiative to assist populations moving from rural areas to urban areas. The government is expected to construct grant urban residency to house 100 million people from rural areas who have moved to cities.

According to Construction Products Association (CPA) UK, the construction industry's output is expected to increase by 11.1% in 2018 and 12.8% in 2019, owing to increasing infrastructure development-related initiatives

According to US Census Bureau and the U.S. Department of Housing and Urban Development report, 1,396,000 building permits were authorized in the US in 2017

According to Timetric’s Construction Intelligence Center (CIC), global construction output is projected to rise to US$ 12.4 trillion in 2022 from US$ 10.4 trillion in 2017

According to Research Institute of Construction and Economy in 2015, investment in private residential construction was US$ 133.8 Bn, which was increased to US$ 142.3 Bn in 2016

In addition, development of renewable raw materials for producing putty powders will resolve safety-related issues and risks at the time of mixing at worksites and can create potential revenue opportunities for players in the target market. In addition, adoption of re-dispersible latex powders is increasing owing to medium hard, improved water resistance properties, and are highly recommended for cement-based plasters.

Recent trend shows that various manufacturers are focusing on utilizing online platforms to offer wider visibility and market and offer products in order to expand the customer base and drive revenues. Through online platforms, manufacturers are offering more and detailed information regarding their respective products, and potential customers or buyers can check consumer reviews and gain insights and feedback and other related information. In addition, companies offer discounts for purchases made online, apart from offering further or related services and additional products.

Market analysis by Type:

On the basis of type segmentation, the cement-based putty segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The cement-based putty segment is expected to witness highest CAGR.

Market analysis by Application:

On the basis of application, the residential segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The residential segment is expected to witness highest CAGR of around 6.1%.

Market analysis by Region:

The Asia Pacific interior wall putty powder market dominates global market in 2018 and expected to maintain its position in the global market over the forecast period. Robust presence of major players in the construction industry in the country, coupled with increasing investments on infrastructure development activities in commercial and industrial sectors are major factors expected to boost adoption of interior wall putty powder-based paint and coating products, which in turn is expected to drive growth of the interior wall putty powder market in Asia Pacific over the forecast period. Moreover, rapid urbanization and migration to cities in various developing countries has resulted in urban housing shortage, and in order to bridge the gap, undertaking of various government initiatives such as affordable homes and related projects is expected to boost construction activities in such countries.

According to the Ministry of Planning, Development and Management of Brazil, growing investments in infrastructure development through initiatives such as implementation of the Brazilian acceleration programes (Programas de Aceleração de Crescimento) is expected to boost growth of the construction industry in the country

According to Research Institute of Construction and Economy, Japan’s construction investment in 2016 was around US$ 476.5 Bn, which includes US$ 191.5 Bn from government and US$ 285.0 Bn from the private sector

Rapid industrialization in developing countries such as Brazil and Columbia, and growing demand for construction owing to increasing population, rising income levels, and changing lifestyle of consumers are some major factors expected to drive growth of the target market in South America.

Prominent manufacturers of interior wall putty powders such as UltraTech Cement Limited, Meichao Group Co., Ltd., J.K. Cement Limited, Nippon Paint Holdings Co., Ltd., Walplast Products Private Limited, Platinum Waltech Ltd., Akzo Nobel N.V., Lion Building Solution, Mapei SpA, Asian Paints (International) Limited, SKSHU Paint Co., Ltd, Bauhinia Paints Manufacturing Limited, and Saint-Gobain Weber S.A. are major players profiled in the target market.

Global Interior Wall Putty Powder Market Segmentation:

Global Interior Wall Putty Powder Market Segmentation, by Type:

• Cement-based Putty
• Gypsum-based Putty

Global Interior Wall Putty Powder Market Segmentation, by Application:

• Residential
• Commercial

Global Interior Wall Putty Powder Market Segmentation, by Region:

• North America
• Europe
• APAC
• Latin America
• Middle East & Africa