Spackling Paste Market Outlook from 2021 to 2031

The global market for the spackling paste market is estimated to be worth USD 2,259.7 million in 2021 and is anticipated to reach a value of USD 3,611.2 million by 2031. Sales are projected to rise at a CAGR of 4.8% over the forecast period between 2021 and 2031. The revenue generated by the spackling paste market in 2020 was USD 2,215.4 million. The industry is anticipated to exhibit a Y-o-Y growth of 2.0% in 2021.

Global Spackling Paste Market Industry Assessment

Attributes Key Insights
Historical Size, 2020 (A) USD 2,215.4 million
Estimated Size, 2021 (E) ~USD 2,259.7 million
Projected Size, 2031 (F) ~USD 3,611.2 million
Value-based CAGR (2021 to 2031) ~4.8%

The target market is segmented under product type, price range, end-use, and sales channel. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.

Spackling paste market is growing at a moderate pace because of the rising demand for home improvement and repair activities. Today, it is quite popular among homeowners and contractors as an effective tool to apply on the walls to repair cracks, holes, and other surface problems and achieve a smooth surface with a spackling paste.

Newer formulations like the quick-drying varieties and those that experience minimal shrinkage have equally been welcomed by both the professional and layman.

Furthermore, there is a rise in demand for environmentally sensitive and low VOC spackling pastes, consistent with contemporary trends. The market is also getting a positive impact due to high-end real estate investments which increases repair demand that often includes fast and cosmetic.

The competitive landscape of the spackling paste market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include Birla White, J.K. Cement Ltd., Terraco, and Meichao, among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.

The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 1,351.6 million and is predicted to rise approximately 1.6 times the current market value through 2031.

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What is Driving Demand for Spackling Paste Market?

The rapidly growing urbanization has led to the fuel of construction activities, growing population, and availability of high spending capacity is driving the demand for spackling paste. Moreover, the advancement in technology and construction developments have eased the production and usability of spackling paste thus, boosting sales.

With time, the cultures and trends in the designing industry keep changing globally, and thus, in order to make necessary changes in residential and commercial sectors drives the demand for premium and affordable spackling paste. In addition, the rising interest for highly water-borne spackling paste across the globe is encouraging manufacturers to supply unique and reliable products.

The sudden outbreak of the COVID-19 had resulted in severely affecting the global economy and declining the demands for various products due to the rise in unemployment. Moreover, the restricted movement of individuals in commercial areas had led to the decline of maintenance of building thus, hindering the construction industry and affecting the sales of spackling paste.

Growing Demand for Innovative Products and Evolving Trends to Boost Sales

The spackling paste industry has always been impacted by the evolving trends in the construction industry. The growing trends such as rising interest low volatile compounds, growth in the availability of various diversified paints and coats, and more are likely to grow the volume of sales.

In addition, the growing filling equipment market is boosting the demand for spackling pastes that are lightweight, easy to handle and flow with ease. Moreover, the improvement in the packaging machinery and services has led to the rise in demand for spackling compounds that can be easily turned into a paste using water or cement.

Sudip Saha
Sudip Saha

Principal Consultant

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USA and Canada Spackling Paste Market Outlook

North America is one of the largest markets for spackling paste globally because the construction industry in the countries is the major contributor. For instance, the USA economy heavily relies upon the construction industry as it contributes over USD 1.4 Trillion and thus requires regular maintenance. Therefore, driving the demand for spackling paste industry.

However, the USA construction sector faces a challenging year, however, the change in the mortgage rates tends to help recover the industry by early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of construction materials, including spackling pastes.

Europe Demand Outlook for Spackling Paste

Initially, Europe was heavily reliant on the western countries for the import of various materials and products and thus, could not match the supply and demand rate. However, the supporting government has helped players to establish their manufacturing plants, and thus, for better maintenance and reliable products, the spackling paste industry is likely to grow and provide innovative products.

Moreover, the high significance of spackling paste over plaster of Paris (POP) is because of its unique characteristics such as a longer life span, stronger holding capacity, and is highly water-resistant. Thus, builders are always seeking innovative products. In addition, according to CPA, the construction industry is likely to grow with a CAGR of over 5.2% in 2022, thus creating a lucrative market for spackling paste industry.  

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Who are the Key Manufacturers and Suppliers of Spackling Paste?

Some of the leading manufacturers and suppliers of spackling pastes include

  • Birla White
  • J.K. Cement Ltd.
  • Terraco
  • Meichao
  • Nippon paint
  • Mapei
  • Saint Gobain
  • Platinum Waltech
  • Dulux
  • SKShu
  • Walplast
  • M.J. Rapoport & Co. Inc.
  • United Gilsonite Laboratories
  • The Shermwin-Williams Company
  • KNP Paints among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Key Segments

By Product Type:

  • Standard
  • Vinyl
  • Epoxy
  • Acrylic
  • Others

By Price Range:

  • Less than USD 50
  • USD 50 - USD 100
  • More than USD 100

By End-Use:

  • Residential
  • Commercial

By Sales Channel:

  • Wholesalers/ Distributors
  • Supermarkets/ Hypermarkets
  • Specialty Stores
  • Multi-brand Stores
  • Online Retailers
  • Others

By Region:

  • North America
    • USA & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa
Table of Content
  • 1. Executive Summary
  • 2. Industry Introduction, including Taxonomy and Market Definition
  • 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
  • 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
  • 5. Pricing Analysis
  • 6. Global Market Analysis and Forecast
    • 6.1. Product Type
    • 6.2. Price Range
    • 6.3. End-Use
    • 6.4. Sales Channel
  • 7. Global Market Analysis and Forecast, By Product Type
    • 7.1. Standard
    • 7.2. Vinyl
    • 7.3. Epoxy
    • 7.4. Acrylic
    • 7.5. Others
  • 8. Global Market Analysis and Forecast, By Price Range
    • 8.1. Less than USD 50
    • 8.2. USD 50 - USD 100
    • 8.3. More than USD 100
  • 9. Global Market Analysis and Forecast, By End-Use
    • 9.1. Residential
    • 9.2. Commercial
  • 10. Global Market Analysis and Forecast, By Sales Channel
    • 10.1. Wholesalers/ Distributors
    • 10.2. Supermarkets/ Hypermarkets
    • 10.3. Specialty Stores
    • 10.4. Multi-brand Stores
    • 10.5. Online Retailers
    • 10.6. Others
  • 11. Global Market Analysis and Forecast, By Region
    • 11.1. North America
    • 11.2. Latin America
    • 11.3. Western Europe
    • 11.4. Eastern Europe
    • 11.5. Asia Pacific
    • 11.6. Japan
    • 11.7. Middle East and Africa
  • 12. North America Sales Analysis and Forecast, by Key Segments and Countries
  • 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries
  • 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
  • 15. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
  • 16. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries
  • 17. Japan Sales Analysis and Forecast, by Key Segments and Countries
  • 18. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries
  • 19. Sales Forecast by Product Type, Price Range, End-Use, and Sales Channel for 30 Countries
  • 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
  • 21. Company Profile
    • 21.1. Birla White
    • 21.2. J.K. Cement Ltd.
    • 21.3. Terraco
    • 21.4. Meichao
    • 21.5. Nippon paint
    • 21.6. Mapei
    • 21.7. Saint Gobain
    • 21.8. Platinum Waltech
    • 21.9. Dulux
    • 21.10. SKShu
    • 21.11. Walplast
    • 21.12. M.J. Rapoport & Co. Inc.
    • 21.13. United Gilsonite Laboratories
    • 21.14. The Sherwin-Williams Company
    • 21.15. KNP Paints

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