India Jointing Compound Market is Expected to Register a CAGR of 5.67% Through 2030
Rapid Growth in Construction & Infrastructure
Development and Advancements in Product Technology are likely to propel the market
during the forecast period.
According to
TechSci Research report, “India Jointing Compound Market – By Region,
Competition, Forecast and Opportunities, 2020-2030F”, India Jointing Compound Market was valued at
USD 16.28 Billion in 2024 and is expected to reach USD 22.87 Billion by 2030
with a CAGR of 5.67% during the forecast period.
The
growth of the construction and infrastructure sectors in India has been one of
the primary drivers of the jointing compound market. As the Indian economy
continues to expand, there has been a significant increase in residential,
commercial, and industrial construction projects. The demand for modern
housing, office spaces, and infrastructure like roads, bridges, and airports
has created an elevated need for materials that support drywall installation
and finishing. Drywall, also known as plasterboard or gypsum board, is
preferred in many construction projects due to its ease of installation,
cost-effectiveness, and fire resistance properties.
Jointing
compound is essential in the drywall installation process as it is used to fill
joints, seams, and screw or nail holes to create a smooth surface for painting
and finishing. With increasing construction activity, the need for drywall
finishing materials such as jointing compounds has surged. This has been
further compounded by government initiatives such as "Housing for
All," Smart Cities Mission, and Make in India, which encourage residential
and commercial development across the country.
The
ongoing urbanization in India, coupled with rising disposable incomes, has
prompted a shift towards contemporary interior designs, further increasing the
demand for high-quality drywall and finishing materials. Jointing compounds,
which are a critical component of this process, are thus experiencing a growing
market demand. Additionally, the rise in commercial real estate development,
such as shopping malls, office complexes, and hotels, has expanded the
application of jointing compounds beyond residential buildings to more
specialized and larger-scale projects.
The
rapid construction boom in India has made jointing compounds an indispensable
part of the building process, fostering market growth. As construction projects
continue to increase in scope and complexity, the demand for jointing compounds
is expected to remain strong.
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Based
on Application, Residential held the largest market share in 2024. The residential sector dominates the India
jointing compound market due to several key factors, primarily driven by the
country’s booming housing demand, urbanization, and evolving consumer
preferences.
India’s
rapidly growing population and urbanization have led to an increased need for
residential housing. Government initiatives such as "Housing for All"
and the Smart Cities Mission have further bolstered the development of
residential units, particularly in urban and semi-urban areas. With a larger
proportion of the population now residing in cities, there is a significant
increase in the construction of apartments, houses, and gated communities, all
of which require drywall systems for walls and ceilings, creating a direct
demand for jointing compounds.
The
growing preference for modern and contemporary homes has shifted construction
practices away from traditional brick-and-mortar walls towards more efficient
drywall solutions. Drywall systems, often used in the construction of interior
walls and ceilings, require jointing compounds for smooth and flawless
finishing. This transition towards drywall installation has naturally driven
the demand for jointing compounds in the residential sector, as they are
essential for providing a high-quality finish to the interior surfaces.
The
rise in disposable income among India’s middle class, which has empowered
homeowners to invest in aesthetically pleasing interiors and quality finishes.
As homebuyers become more discerning about interior designs, the demand for
drywall and jointing compounds has increased, especially in urban areas.
Homeowners are also increasingly involved in DIY renovation and repair
activities, further boosting the demand for jointing compounds for small-scale
projects like patching drywall or smoothing imperfections.
Based on region,
North India is the
fastest-growing region in the Indian jointing compound market due to several
key factors, primarily driven by rapid urbanization, infrastructure
development, and an expanding construction industry. Major cities in North
India, such as Delhi, Gurgaon, Noida, Chandigarh, and Jaipur, are experiencing
substantial growth in both residential and commercial construction. This has
led to an increased demand for drywall solutions, including jointing compounds,
for finishing walls and ceilings.
One
of the primary drivers for this growth is the large-scale government
infrastructure initiatives in the region. Schemes like the Smart Cities
Mission, Housing for All, and Pradhan Mantri Awas Yojana (PMAY) are leading to
a surge in housing and commercial development, particularly in urban areas. As
these regions continue to modernize, there is an increasing preference for dry
construction methods such as drywall installations, which require jointing
compounds for seamless finishes. These projects often focus on quality,
aesthetics, and quicker turnaround times, driving the demand for efficient
finishing materials like jointing compounds. Additionally, the rise in
disposable incomes and changing lifestyles in North India is contributing to an
increased preference for contemporary housing designs and finishes. Homeowners
are increasingly opting for drywall in their interiors due to its versatility,
cost-effectiveness, and ease of installation. This growing middle-class
population is fueling demand for both high-quality and affordable jointing
compounds.
Major companies
operating in the India Jointing Compound Market are:
- 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.
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“The India jointing compound market
presents significant opportunities driven by rapid urbanization, a booming construction
industry, and growing demand for residential and commercial spaces. With an
increasing focus on sustainable building materials, eco-friendly jointing
compounds are gaining traction. Additionally, the rise of DIY home improvement
projects and the adoption of lightweight and easy-to-use products offer growth
prospects. As construction timelines shorten and the need for efficient,
high-quality finishes intensifies, there is ample scope for innovation in
product offerings. Manufacturers can capitalize on these trends by focusing on
environmentally sustainable, cost-effective, and user-friendly jointing
compound solutions to cater to diverse consumer needs.” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based global management
consulting firm.
“India Jointing Compound
Market, By Product (Single, Multi), By Application
(Residential, Commercial, Industrial), By Type (Taping, Topping, All Purpose,
LITE Drying, Setting), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth
potential of India Jointing Compound Market and provides statistics &
information on Market size, structure and future Market growth. The report
intends to provide cutting-edge Market intelligence and help decision-makers make
sound investment decisions., The report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
India Jointing Compound Market.
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