Latin America joint compound industry size reached USD 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 USD 48.6 million in 2023 to USD 89.5 million in 2033.
| Attributes | Key Insights |
|---|---|
| Base Value (2022) | USD 46.0 million |
| Estimated Latin America Joint Compound Industry Size (2023) | USD 48.6 million |
| Projected Latin America Joint Compound Revenue (2033) | USD 89.5 million |
| Value-based CAGR (2023 to 2033) | 6.3% |
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Industry to Expand Over 2.1x through 2033
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 USD 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 USD 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 USD 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) | USD 48.6 million |
| Projected Value (2033) | USD 89.5 million |
| Anticipated Growth Rate (2023 to 2033) | 6.3% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD 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 USD 46.0 million in 2022.
The industry value reached USD 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 USD 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 2. Industry Overview 3. Key Trends 4. Key Success Factors 5. Latin America Industry Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Latin America Industry - Pricing Analysis 7. Latin America Industry Demand (in Value or Size in USD million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Industry Background 9. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Ready Mix 9.2. Setting Type 9.3. Drying Type 10. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 10.1. Residential Construction 10.2. Commercial Construction 10.3. Institutional Construction 10.4. Industrial Construction 11. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 11.1. New Construction 11.2. Refurbishments 12. Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Argentina 12.2. Brazil 12.3. Mexico 12.4. Chile 12.5. Colombia 12.6. Peru 12.7. Ecuador 12.8. Paraguay 12.9. Uruguay 12.10. Guatemala 12.11. Bolivia 12.12. Costa Rica 13. Argentina Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Brazil Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Mexico Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Chile Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Colombia Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Peru Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Ecuador Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Paraguay Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 21. Uruguay Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 22. Guatemala Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 23. Bolivia Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 24. Costa Rica Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 25. Rest of Latin America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 26. Industry Structure Analysis 27. Competition Analysis 27.1. Compagnie de Saint-Gobain S.A 27.2. USG Corporation 27.3. Knauf 27.4. Dryvitex 27.5. Supermastick S.A.S 27.6. Durlock 27.7. Votorantim Cimentos 27.8. Plaka Group 27.9. ASG Plaster 27.10. Cemix Mexico S.A. DE C.V 27.11. Promat 27.12. Gyplac 27.13. DAP Products Inc. 27.14. Solid Products, Inc. 27.15. 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
