Latin America joint compound industry size reached US$ 46.0 million in 2022. Over the forecast period, joint compound demand in Latin America is anticipated to rise at 6.3% CAGR. The industry is projected to increase from US$ 48.6 million in 2023 to US$ 89.5 million in 2033.
| Attributes | Key Insights |
|---|---|
| Base Value (2022) | US$ 46.0 million |
| Estimated Latin America Joint Compound Industry Size (2023) | US$ 48.6 million |
| Projected Latin America Joint Compound Revenue (2033) | US$ 89.5 million |
| Value-based CAGR (2023 to 2033) | 6.3% |
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Latin America's joint compound industry is predicted to expand over 2.1x through 2033, amid a 5.1% increase in expected CAGR compared to the historical one. This is due to the growing demand for construction and infrastructure development. By 2033, the total industry revenue is set to reach US$ 89.5 million.
Brazil to Lead Latin America Joint Compound Industry
Brazil is expected to dominate the joint compound industry during the forecast period. It is set to hold around 27.4% of Latin America’s industry share in 2033. This is attributed to the following factors:
Based on End-use, Residential Construction is Grabbing the Opportunity
The residential construction segment is expected to dominate Latin America’s joint compound industry with a volume share of 44.7% in 2023. Residential construction is expected to remain the key end-use sector for joint compounds in the region owing to the significant scope of high consumption from the renovation sector.
Joint compound sales in Latin America grew at a CAGR of 1.2% between 2018 and 2022. The industry reached US$ 46.0 million in 2022. In the forecast period, the joint compound industry is set to thrive at a CAGR of 6.3%.
| Historical CAGR (2018 to 2022) | 1.2% |
|---|---|
| Forecast CAGR (2023 to 2033) | 6.3% |
The joint compound industry witnessed moderate growth between 2018 and 2022. This was due to economic growth in emerging industries leading to increased construction and infrastructure development.
The COVID-19 pandemic has adversely affected several industries, including joint compounds, in terms of supply and demand. The pandemic disrupted the supply chains, leading to shortages of raw materials and finished goods. This, in turn, led to a shortage of joint compounds. The pandemic further reduced the demand for joint compounds as the construction industry slowed down due to lockdowns and restrictions.
Future Scope of Latin America Joint Compound Industry
Over the forecast period, Latin America’s joint compound industry is poised to exhibit healthy growth, reaching a valuation of US$ 89.5 million by 2033. The construction industry is expected to showcase growth stability primarily due to rising urbanization in emerging countries across Latin America.
The resurgence of the construction industry in Latin America and notable growth & prospects for new construction in developing and emerging economies are expected to raise the construction industry. This is set to create a high demand for joint compounds in Latin America.
Ready-mix type of joint compound is expected to dominate in terms of product type throughout the forecast period. A ready-mix joint compound is set to be designed for fast application. It has easy maintenance, spreads smoothly, and dries up if left unattended for a long period.
Government investments in infrastructure projects, such as roads, bridges, and public buildings, are further expected to amplify the demand for joint compounds. The construction boom associated with urbanization positions joint compound manufacturers at the forefront, shaping the urban landscape in Latin America. These factors are expected to surge the demand for joint compounds by 2033.
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The below table shows the estimated growth rates of the top five countries. Mexico, Colombia, and Peru are set to record high CAGRs of 7.3%, 6.9%, and 6.6%, respectively, through 2033.
| Countries | Projected Joint Compound CAGR (2023 to 2033) |
|---|---|
| Brazil | 4.6% |
| Mexico | 7.3% |
| Colombia | 6.9% |
| Argentina | 5.4% |
| Peru | 6.6% |
Over the assessment period, demand for joint compounds in Brazil is set to rise at 4.6% CAGR. Here are the trends enhancing the industry in Brazil:
Over the forecast period, joint compound industry in Mexico is set to increase at a robust CAGR of 7.3%. A handful of the trends are as follows:
By 2033, joint compound industry demand in Colombia is expected to surge at a CAGR of 6.9%. A handful of the factors are as follows:
The section below shows the ready mix segment dominating based on product type. It is forecast to thrive at a 6.5% CAGR between 2023 and 2033. Based on application, the new construction segment is anticipated to hold a dominant share through 2033. It is set to exhibit a CAGR of 6.6% during the forecast period.
| Top Segment (Product Type) | Ready Mix |
|---|---|
| Predicted CAGR (2023 to 2033) | 6.5% |
Convenience is one of the key benefits of ready mix joint compounds. They save building time and effort by doing away with the requirement for on-site mixing. By using these chemicals directly, contractors are set to cut down on labor-intensive preparatory work.
Ready-mix joint compounds are produced in a controlled environment to provide a reliable and homogenous result. This uniformity plays a crucial part in the joint compound's dependability regarding workability, drying properties, and adhesion.
Ready mix joint compounds come in a range of formulas to suit different requirements. They can be divided into groups according to how quickly they dry, such as lightweight or quick-setting compounds.
As these materials are so versatile, contractors select this ideal compound for several applications. Over the forecast period, the ready mix segment is expected to rise at a CAGR of 6.5%.
| Top Segment (Application) | New Construction |
|---|---|
| Projected CAGR (2023 to 2033) | 6.6% |
In order to eliminate significant gaps and create a seamless look, a joint compound is put over joint tapes to produce a smooth, continuous surface. Sometimes, in new construction, drywall surfaces need to be repaired because of dents, nicks, or other flaws.
The surfaces are patched and repaired with joint compounds. Joint compound is estimated to be extensively used in new construction because of their adaptability, cost-effectiveness, and versatility. The new construction segment is projected to thrive at a 6.6% CAGR during the forecast period.
The joint compound industry in Latin America is highly consolidated, with leading players accounting for 35.1% share. Companies such as de Saint-Gobain S.A, USG Corporation, Knauf, Dryvitex, Supermastick S.A.S, Durlock, and ProForm Finishing Products LLC are the leading manufacturers and suppliers of joint compounds listed in the report.
Key joint compound companies are investing in continuous research to produce new products and increase their capacity to meet end-user demand. They are also inclined toward adopting strategies to strengthen their footprint, including acquisitions, partnerships, mergers, and facility expansions.
Leading Companies
| Attribute | Details |
|---|---|
| Estimated Value (2023) | US$ 48.6 million |
| Projected Value (2033) | US$ 89.5 million |
| Anticipated Growth Rate (2023 to 2033) | 6.3% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (US$ million) and Volume (metric tons) |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, End-use, Application, Region |
| Key Countries Covered | Argentina, Brazil, Mexico, Chile, Colombia, Peru, Ecuador, Paraguay, Uruguay, Guatemala, Bolivia, Costa Rica, Rest of Latin America |
| Key Companies Profiled | Compagnie de Saint-Gobain S.A; USG Corporation; Knuaf, Dryvitex; Supermastick S.A.S, Durlock; Votorantim Cimentos; Plaka Group; ASG Plaster; Cemix Mexico S.A. DE C.V; Promat, Gyplac; DAP Products Inc.; Solid Products, Inc.; ProForm Finishing Products LLC |
Latin America’s industry was valued at US$ 46.0 million in 2022.
The industry value reached US$ 48.6 million in 2023.
The industry is anticipated to rise at a 6.3% CAGR.
Latin America’s joint compound industry size is set to reach US$ 89.5 million by 2033.
New construction is expected to lead the industry during the forecast period.
The ready mix segment is expected to dominate the joint compound industry.
1. Executive Summary 1.1. Latin America Industry Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Industry Overview 2.1. Industry Coverage / Taxonomy 2.2. Industry Definition / Scope / Limitations 3. Key Trends 3.1. Key Trends 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Latin America Industry Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 5.1. Historical Volume (metric tons) Analysis, 2018 to 2022 5.2. Current and Future Volume (metric tons) Projections, 2023 to 2033 5.3. Y-o-Y Growth Trend Analysis 6. Latin America Industry - Pricing Analysis 6.1. Country wise Pricing Analysis By Product Type 6.2. Latin America Average Pricing Analysis Benchmark 7. Latin America Industry Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7.1. Historical Value (US$ million) Analysis, 2018 to 2022 7.2. Current and Future Value (US$ million) Projections, 2023 to 2033 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Industry Background 8.1. Macro-Economic Factors 8.1.1. Latin America GDP Growth Outlook 8.1.2. Latin America Chemical industry Overview 8.1.3. Manufacturing Value-Added 8.1.4. Industry Value Added 8.1.5. Parent Industry Outlook 8.1.6. Other Macro-Economic Factors 8.2. Forecast Factors - Relevance & Impact 8.2.1. Top Companies Historical Growth 8.2.2. GDP Growth forecast 8.2.3. Manufacturing Industry forecast 8.2.4. Latin America Urbanization Growth Outlook 8.2.5. Business Climate 8.2.6. Covid-19 Impact Assessment 8.2.7. End-use Industry Growth Outlook 8.3. Value Chain 8.3.1. Product Manufacturers 8.3.2. End Users 8.3.3. Avg. Profitability Margins 8.4. COVID-19 Crisis – Impact Assessment 8.4.1. Current Statistics 8.4.2. Short-Mid-Long Term Outlook 8.4.3. Likely Rebound 8.5. Industry Dynamics 8.5.1. Drivers 8.5.2. Restraints 8.5.3. Opportunity Analysis 8.6. Latin America Supply Demand Analysis 8.7. Key Regulations & Certifications 8.8. Production Process Overview 8.9. Trade Scenario 9. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Introduction / Key Findings 9.2. Historical Industry Size (US$ million) and Volume Analysis By Product Type, 2018 to 2022 9.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By Product Type, 2023 to 2033 9.3.1. Ready Mix 9.3.2. Setting Type 9.3.3. Drying Type 9.4. Industry Attractiveness Analysis By Product Type 10. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 10.1. Introduction / Key Findings 10.2. Historical Industry Size (US$ million) and Volume Analysis By End Use, 2018 to 2022 10.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By End Use, 2023 to 2033 10.3.1. Residential Construction 10.3.2. Commercial Construction 10.3.3. Institutional Construction 10.3.4. Industrial Construction 10.4. Industry Attractiveness Analysis By End Use 11. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 11.1. Introduction / Key Findings 11.2. Historical Industry Size (US$ million) and Volume Analysis By Application, 2018 to 2022 11.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By Application, 2023 to 2033 11.3.1. New Construction 11.3.2. Refurbishments 11.4. Industry Attractiveness Analysis By Application 12. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Country 12.1. Introduction 12.2. Historical Industry Size (US$ million) and Volume Analysis By Country, 2018 to 2022 12.3. Current Industry Size (US$ million) and Volume Analysis and Forecast By Country, 2023 to 2033 12.3.1. Argentina 12.3.2. Brazil 12.3.3. Mexico 12.3.4. Chile 12.3.5. Colombia 12.3.6. Peru 12.3.7. Ecuador 12.3.8. Paraguay 12.3.9. Uruguay 12.3.10. Guatemala 12.3.11. Bolivia 12.3.12. Costa Rica 12.3.13. Rest of Latin America 12.4. Industry Attractiveness Analysis By Country 13. Argentina Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 13.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 13.4.1. By Product Type 13.4.2. By End Use 13.4.3. By Application 13.5. Industry Attractiveness Analysis 13.5.1. By Product Type 13.5.2. By End Use 13.5.3. By Application 13.6. Industry Trends 13.7. Key Participants - Intensity Mapping 13.8. Drivers and Restraints - Impact Analysis 14. Brazil Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 14.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 14.4.1. By Product Type 14.4.2. By End Use 14.4.3. By Application 14.5. Industry Attractiveness Analysis 14.5.1. By Product Type 14.5.2. By End Use 14.5.3. By Application 14.6. Industry Trends 14.7. Key Participants - Intensity Mapping 14.8. Drivers and Restraints - Impact Analysis 15. Mexico Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 15.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 15.4.1. By Product Type 15.4.2. By End Use 15.4.3. By Application 15.5. Industry Attractiveness Analysis 15.5.1. By Product Type 15.5.2. By End Use 15.5.3. By Application 15.6. Industry Trends 15.7. Key Participants - Intensity Mapping 15.8. Drivers and Restraints - Impact Analysis 16. Chile Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 16.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 16.4.1. By Product Type 16.4.2. By End Use 16.4.3. By Application 16.5. Industry Attractiveness Analysis 16.5.1. By Product Type 16.5.2. By End Use 16.5.3. By Application 16.6. Industry Trends 16.7. Key Participants - Intensity Mapping 16.8. Drivers and Restraints - Impact Analysis 17. Colombia Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 17.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 17.4.1. By Product Type 17.4.2. By End Use 17.4.3. By Application 17.5. Industry Attractiveness Analysis 17.5.1. By Product Type 17.5.2. By End Use 17.5.3. By Application 17.6. Industry Trends 17.7. Key Participants - Intensity Mapping 17.8. Drivers and Restraints - Impact Analysis 18. Peru Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 18.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 18.4.1. By Product Type 18.4.2. By End Use 18.4.3. By Application 18.5. Industry Attractiveness Analysis 18.5.1. By Product Type 18.5.2. By End Use 18.5.3. By Application 18.6. Industry Trends 18.7. Key Participants - Intensity Mapping 18.8. Drivers and Restraints - Impact Analysis 19. Ecuador Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 19.1. Introduction 19.2. Pricing Analysis 19.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 19.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 19.4.1. By Product Type 19.4.2. By End Use 19.4.3. By Application 19.5. Industry Attractiveness Analysis 19.5.1. By Product Type 19.5.2. By End Use 19.5.3. By Application 19.6. Industry Trends 19.7. Key Participants - Intensity Mapping 19.8. Drivers and Restraints - Impact Analysis 20. Paraguay Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 20.1. Introduction 20.2. Pricing Analysis 20.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 20.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 20.4.1. By Product Type 20.4.2. By End Use 20.4.3. By Application 20.5. Industry Attractiveness Analysis 20.5.1. By Product Type 20.5.2. By End Use 20.5.3. By Application 20.6. Industry Trends 20.7. Key Participants - Intensity Mapping 20.8. Drivers and Restraints - Impact Analysis 21. Uruguay Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 21.1. Introduction 21.2. Pricing Analysis 21.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 21.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 21.4.1. By Product Type 21.4.2. By End Use 21.4.3. By Application 21.5. Industry Attractiveness Analysis 21.5.1. By Product Type 21.5.2. By End Use 21.5.3. By Application 21.6. Industry Trends 21.7. Key Participants - Intensity Mapping 21.8. Drivers and Restraints - Impact Analysis 22. Guatemala Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 22.1. Introduction 22.2. Pricing Analysis 22.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 22.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 22.4.1. By Product Type 22.4.2. By End Use 22.4.3. By Application 22.5. Industry Attractiveness Analysis 22.5.1. By Product Type 22.5.2. By End Use 22.5.3. By Application 22.6. Industry Trends 22.7. Key Participants - Intensity Mapping 22.8. Drivers and Restraints - Impact Analysis 23. Bolivia Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 23.1. Introduction 23.2. Pricing Analysis 23.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 23.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 23.4.1. By Product Type 23.4.2. By End Use 23.4.3. By Application 23.5. Industry Attractiveness Analysis 23.5.1. By Product Type 23.5.2. By End Use 23.5.3. By Application 23.6. Industry Trends 23.7. Key Participants - Intensity Mapping 23.8. Drivers and Restraints - Impact Analysis 24. Costa Rica Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 24.1. Introduction 24.2. Pricing Analysis 24.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 24.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 24.4.1. By Product Type 24.4.2. By End Use 24.4.3. By Application 24.5. Industry Attractiveness Analysis 24.5.1. By Product Type 24.5.2. By End Use 24.5.3. By Application 24.6. Industry Trends 24.7. Key Participants - Intensity Mapping 24.8. Drivers and Restraints - Impact Analysis 25. Rest of Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 25.1. Introduction 25.2. Pricing Analysis 25.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Taxonomy, 2018 to 2022 25.4. Industry Size (US$ million) and Volume Forecast By Taxonomy, 2023 to 2033 25.4.1. By Product Type 25.4.2. By End Use 25.4.3. By Application 25.5. Industry Attractiveness Analysis 25.5.1. By Product Type 25.5.2. By End Use 25.5.3. By Application 25.6. Industry Trends 25.7. Key Participants - Intensity Mapping 25.8. Drivers and Restraints - Impact Analysis 26. Industry Structure Analysis 26.1. Industry Analysis by Tier of Companies 26.2. Industry Concentration 26.3. Industry Share Analysis of Top Players 26.4. Production Capacity Analysis 26.5. Industry Presence Analysis 26.5.1. By Application Footprint of Players 26.5.2. By Country-wise Footprint of Players 26.5.3. By Channel Footprint of Players 27. Competition Analysis 27.1. Competition Dashboard 27.2. Competition Benchmarking 27.3. Competition Deep Dive 27.3.1. Compagnie de Saint-Gobain S.A 27.3.1.1. Overview 27.3.1.2. Product Portfolio 27.3.1.3. Profitability by Segments (Product/Channel/Country) 27.3.1.4. Sales Footprint 27.3.1.5. Strategy Overview 27.3.2. USG Corporation 27.3.3. Knuaf 27.3.4. Dryvitex 27.3.5. Supermastick S.A.S 27.3.6. Durlock 27.3.7. Votorantim Cimentos 27.3.8. Plaka Group 27.3.9. ASG Plaster 27.3.10. Cemix Mexico S.A. DE C.V 27.3.11. Promat 27.3.12. Gyplac 27.3.13. DAP Products Inc. 27.3.14. Solid Products, Inc. 27.3.15. ProForm Finishing Products, LLC 28. Primary Insights 29. Assumptions and Acronyms Used 30. Research Methodology
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Joint Compound Industry Analysis in Latin America
