India Jointing Compound Market 2027

2015 – 2025 2017 – 2027 INDIA JOINTING COMPOUND MARKET FORECAST ANDOPPORTUNITIES wwwwww..ttechechscisciresearch.research.cocomm 1 MARKET INTELLIGENCE . CONSULTING

Table of Contents 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 © TechSci Research 22

Table of Contents S. No. Contents 7. India Single Jointing Compound Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.1. By Application 7.2.2. By Type 7.2.3. By Region 8. India Multi Jointing Compound Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 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 © TechSci Research 33

Table of Contents S. No. Contents 14. Value Chain Analysis 15. Policy and Regulatory Landscape 16. India Economic Profile 17. CompanyProfiles 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 © TechSci Research 44

Product Overview

Product Overview Product of Interest: Jointing Compound Thejointing 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 usedinconstructionofbuildings. Market Segmentation BY PRODUCT TYPE BY TYPE INDIA JOINTING COMPOUND • Single • Taping MARKET • Multi • Topping Year Range • All Purpose • LITE Drying Review Period • Setting FY2017 – FY2020 BY APPLICATION BY REGION Base Year • Residential • North • Commercial • East FY2021 • Industrial • West Estimated Year • South FY2022 Forecast Period FY2023 – FY2027 © TechSci Research 66

Product Overview Product of Interest: Jointing Compound • 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 while 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. They also protect joints from cracking due to temperature changes during installation or in case of an earthquake. It has smooth consistency and it can be reused for future use since it is prepared after mixing water. • All-Purpose Compound: All-purpose jointing compound is used for all phases of the drywall process, including finishing, joints, textures, skimming, spotting fasteners, and covering cracks. All-purpose jointing compounds are thicker, allowing 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 those type of jointing compounds which are 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. © TechSci Research 77

Research Methodology

Research Methodology Market Formulating Developing List of Data Data Data Profiling Questionnaire Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to players and industry interviews with result of primary using MS-Excel, statistical determine top players, industry experts’ industry experts and tools and internal overall market size and interviews, TechSci specialists was and secondary proprietary database to segmental market size in formulated a detailed developed. industry players for research was obtain qualitative and India jointing compound discussion guide. data collection and validated through quantitative insights about market. verification. rigorous India jointing compound triangulation. market. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business Leaders ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution ✓ Questionnaire Design Aspects/Dynamics ✓ In-depth Interviews ✓ Government Policies ✓ Conclusion Primary Research Secondary Research Paid Sources ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body © TechSci Research 99

Research Methodology 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. © TechSci Research 1010

Research Methodology 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. © TechSci Research 1111

Research Methodology 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. Sakarni Plaster (India) Private Limited, Saint-Gobain Gyproc India Ltd., USG Boral Building Partial List of Companies Products India Private Limited, India Gypsum Pvt Ltd., Jayswal Interiors Pvt Ltd., Dana Interviewed 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 Company Annual Reports, Press Releases, Industry Magazines, Industry Reports, Company Sources 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. © TechSci Research 1212

Industry Brief 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 marketwill 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 highly consolidated 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 managementconsulting firm. © TechSci Research 1313

Sample Data –Snapshot India Jointing Compound Market Size, By Value (INR Crore), 2017-2027F CAGR 2017-2021 CAGR 2022E-2027F By Value: xx% By Value: xx% 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Value (INR Crore) 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% © TechSci Research 1414

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