After the huge blow of the 2008 financial crisis, the global construction industry is recovering. Registering a healthy growth of approximately more than five percent in the last couple of years, the recovery rate, however, has slowed down marginally in the last two years, primarily due to aggravating political uncertainties and geopolitical tension. Residential growth and infrastructure development are the key drivers of the construction industry. Currently, key global manufacturers are planning to introduce innovative technologies in the construction industry. Ready mix joint compound is one of these technologies; it is a pre-made available joint compound which can be used for various applications in the construction industry. Ready mix joint compound is also known as wet mix joint compound.
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In ready mix joint compound formulations, dry powder is mixed with liquid ingredients until a homogenized paste is formed, and then sent for quality control. Ready mix joint compound is available for immediate application without any additional preparation. In terms of properties, ready mix joint compound has high performance and gives strong joints as compared to dry power joints.
Market Dynamics: Ready Mix Joint Compound Market : The global ready mix joint compound market is expected to fuel the demand of construction industry in the coming future. There are several factors which can dominate the growth of the ready mix joint compound market, such as increasing infrastructure investments, globally, especially in Asia Pacific, North America, and Western Europe. Innovations in production technologies of ready mix joint compounds and increasing residential projects are expected to drive the growth of the ready mix joint compound market.
Regional government reforms for increasing investments in infrastructural projects are expected to increase the demand for construction materials over the forecast period. Along with these positive factors, there are some factors that can restrict the growth of the ready mix joint compound market, such as high transportation costs of ready mix joint compounds, stringent zoning regulations on the release of gases through ready mix joint compounds, coupled with rising production costs. On the basis of opportunity analysis, government initiatives towards increasing infrastructural investments and rapid urbanization are expected to boost commercial and infrastructural activities in the near future.
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The introduction of business information modeling in the construction materials market has made a significant impact on the sales of ready mix joint compounds. Market players in the ready mix joint compound market are focusing on capitalizing on the opportunity provided by online retail sites.
Market Segmentation: Ready -Mix Joint Compound Market : The ready mix joint compound market is segmented on the basis of product type, end use, and distribution channel. On the basis of product type, the ready mix joint compound market is segmented as: Light Weight Ready Mix Joint Compound, Conventional Ready Mixed Joint Compound On the basis of end use, the ready mix joint compound market is segmented as: Residential, Commercial, Industrial On the basis of distribution channel, the ready mix joint compound market is segmented as: Online, Offline
Regional Outlook: Ready Mix Joint Compound Market : Based on geography, the North American ready mix joint compound market accounts for a significant share of the global ready mix joint compound market, owing to the relatively lucrative value share of the region in the construction sector, followed by Western Europe. The Asia Pacific region accounts for more than onethird of the market share in terms of volume, owing to the rapid rate of urbanization in the region. Latin America and the Middle East & Africa are developing economies, and are expected to witness moderate growth in the coming future in the global ready mix joint compound market, owing to substantial growth in the construction industry. Overall, the global outlook for the ready mix joint compound market is expected to be positive in the coming future, owing to the increasing demand for ready mix joint compounds in the construction industry.
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Some of the key players in the ready mix joint compound market are: DowDupont, Sheetrock, Georgia Pacific, Continental AG, ASG, United States Gypsum Company, USG, Everbuild