India white putty market, forecast and opportunities, 2025 - TechSci Research by David Johnson

PUBLISHED: MARCH 2020

2015 – 2025 INDIA WHITE PUTTY MARKET

Market

INTELLIGENCE

CONSULTING

COMPETITION, FORECAST AND OPPORTUNITIES

www.techsciresearch.com 1

Table of Contents S. No.

Contents

Product Overview

Research Methodology

Executive Summary

Voice of Customer

India White Putty Market Outlook 5.1.

Market Size & Forecast 5.1.1.

5.2.

5.3. 6.

By Value and Volume

Market Share & Forecast 5.2.1.

By Type (Cement Based, Acrylic Based)

5.2.2.

By Pack Size (Upto 5Kg, 20Kg, 30Kg, 40Kg and Above)

5.2.3

By Purity (99%, More than 99%)

5.2.4

By Surface of Application (Interior, Exterior)

5.2.5.

By End Use (Residential, Commercial, Industrial, Infrastructure)

5.2.6.

By Region (North, West, South and East)

5.2.7.

By Company

Market Attractiveness Index

North India White Putty Market Outlook 6.1.

Market Size & Forecast 6.1.1.

6.2.

By Value and Volume

Market Share & Forecast 6.2.1.

By Type (Cement Based, Acrylic Based)

6.2.2.

By Pack Size (Upto 5Kg, 20Kg, 30Kg, 40Kg and Above)

6.2.3.

By Purity (99%, More than 99%) ÂŠ TechSci Research

Table of Contents

Ta b l e o f C o n t e n t s

S. No.

Contents

6.3.

6.2.4.

By Surface of Application (Interior, Exterior)

6.2.5.

By End Use (Residential, Commercial, Industrial, Infrastructure)

Pricing Analysis 6.3.1.

By Pack Size

6.3.2.

By Company

East India White Putty Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

7.3.

By Value and Volume

Market Share & Forecast 7.2.1.

By Type (Cement Based, Acrylic Based)

7.2.2.

By Pack Size (Upto 5Kg, 20Kg, 30Kg, 40Kg and Above)

7.2.3.

By Purity (99%, More than 99%)

7.2.4.

By Surface of Application (Interior, Exterior)

7.2.5.

By End Use (Residential, Commercial, Industrial, Infrastructure)

Pricing Analysis 7.3.1.

By Pack Size

7.3.2.

By Company

West India White Putty Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

By Value and Volume

Market Share & Forecast 8.2.1.

By Type (Cement Based, Acrylic Based)

8.2.2.

By Pack Size (Upto 5Kg, 20Kg, 30Kg, 40Kg and Above)

8.2.3.

By Purity (99%, More than 99%) ÂŠ TechSci Research

Ta b l e o f C o n t e n t s

Table of Contents S. No.

Contents

8.3.

8.2.4.

By Surface of Application (Interior, Exterior)

8.2.5.

By End Use (Residential, Commercial, Industrial, Infrastructure)

Pricing Analysis 8.3.1.

By Pack Size

8.3.2.

By Company

South India White Putty Market Outlook 9.1.

Market Size & Forecast 9.1.1.

9.2.

Market Share & Forecast

9.2.1.

By Type (Cement Based, Acrylic Based)

9.2.2.

By Pack Size (Upto 5Kg, 20Kg, 30Kg, 40Kg and Above)

9.2.3.

By Purity (99%, More than 99%)

9.2.4.

By Surface of Application (Interior, Exterior)

9.2.5. 9.3.

By Value & Volume

By End Use (Residential, Commercial, Industrial, Infrastructure)

Pricing Analysis 9.3.1.

By Pack Size

9.3.2.

By Company

10.

Market Dynamics

11.

Market Trends and Development

12.

Policy and Regulatory Landscape

13.

India Economic Profile

14.

Competitive Landscape

15.

Strategic Recommendations

16.

About Us and Disclaimer ÂŠ TechSci Research

Product Overview

➢ White putty, also known as ‘wall putty’, is a white cement and mineral based putty used on concrete cement wall before painting the surface. It renders whiteness and smooth finishing to wall surfaces. White putty is a cement based water-resistant putty that prevents moisture seepage through the inside of walls by binding strongly to the base plaster, thereby forming a protective base. Application of white putty gives a glossy finish, in addition to the adhesiveness and durability properties. Other benefits of putty include prevention of flaking, prevention of fungi and algae on wall surfaces, and resistance to dampness. Its application is not just limited to concrete, rendered walls and can also be used in hollow blocks, pre-cast walls, concrete ceilings, aerated light-weight blocks etc. White putty is available in different packaging sizes and at different purity levels. ➢ Segmentation of white putty as considered in the ‘India White Putty Market’ report are as follows:

India White Putty Market

By Purity

By Pack Size

• • • •

Upto 5 Kg 20 Kg 30 Kg 40 Kg & Above

• •

99%< 99%

By Type

• •

Cement Based Acrylic Based

By Surface of Application • •

Interior Exterior

By End Use

• • • •

Residential Commercial Industrial Infrastructure

By Region

• • • •

North India West India East India South India

Research Methodology

Market Profiling

In-depth secondary research was conducted to determine top players in India white putty market, overall market and size and segmental market share.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed questionnaire.

Data Collection

Developing List of Respondents

TechSci Research List of industry players, conducted interviews distributors, and with industry experts industry specialists and industry players for was developed. data collection and verification.

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

Primary Research ✓

Questionnaire Design

✓

In-depth Interviews

Primary Research

✓ Data Collection

Data Filter Research & & Analysis Intelligence

Actionable Insights

Business Solution

✓

TechSci Internal Database LinkedIn

The data was scrutinized using MS-Excel and statistical tools such as Time Series Analysis, etc. to obtain qualitative and quantitative insights about India white putty market .

Desk Research

Identifying Key Opinion Leaders

✓

Data Analysis

Data Validation

Company Analysis

✓

Recent Developments

✓

Market Participants

✓

Market Changing Aspects/Dynamics

✓ ✓

Key Strengths Product Differentiation

✓

Government Policies

✓

Final Conclusion

Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.

Paid Sources

✓ ✓

Factiva Hoovers

Research Methodology

Baseline Methodology: For the study, TechSci Research has gathered information through primary research surveys with leading India white putty manufacturers, providers and importers. We have also put through an exhaustive search of credible paid databases such as Business Week, Factiva, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of the India white putty market. While compiling the data, we have also cross-checked all the collected information from multiple sources and data warehouses, to present the most accurate and precise information of the concerned industry.

Sampling Technique: While conducting the study, TechSci Research followed the stratified random sampling technique to shortlist the Key Opinion Leaders (KOLs) in various White Puttycompanies/dealers & distributors operating in India. KOLs based out of prominent white

putty companies/dealers & distributors were interviewed to assess the India white putty market.

Sample Size:

Type of Respondents

No. of Respondents

Mid to Senior Management, Sales Managers, etc., of White Putty companies/ Dealers & Distributors

Industry Experts

Total

ÂŠ TechSci Research

Research Methodology Market Size Calculation Technique: Primary Research For the preparation of ‘India White Putty Market’ report, bottom-up model has been used, which has been later cross validated by using top-down approach. TechSci Research interviewed Senior Managers and Regional Sales Managers of the

prominent white putty companies/dealers & distributors using Delphi technique for calculating the India white putty market size. Respondents were also asked about the current and future growth rates, market share by surface of application, by purity, by pack size, etc. All the information gathered was carefully analyzed, and data points which exhibited high deviations from the majority estimates were eliminated as outliers and the remaining refined data points were put together to arrive at the data. Primary Research – Few of the Manufacturing Companies and/or their Dealers Interviewed

S. No.

Names of Companies and/or their Dealers Interviewed

UltraTech Cement Ltd

J.K. CEMENT LIMITED

Asian Paints Ltd

Kansai Nerolac Paints Limited

SAKARNI PLASTER (INDIA) PRIVATE LIMITED

*Note: 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 2020E, the data represents the period, 1st April 2019 to 31st March 2020.

Research Methodology

Secondary Research: We have put through an exhaustive search of credible databases in addition to our internal database. Further analysis of

credible publications, white papers, company annual reports, investor presentations, news articles, etc., was also done to cross validate the end findings derived from primary research. S. No.

Few of the Secondary Sources/Associations

Ministry of Corporate Affairs

Ministry of Housing & Urban Affairs

Ministry of Commerce

Annual Reports

Cement Manufacturers Association

World Bank

UN Comtrade

International Monetary Fund

Forecasting Technique: The team has developed the forecast on the basis of econometric and judgemental analysis in addition to statistical techniques such as averaging and geometric mean. During primary research interview, questions regarding historical sales trend of white putty in India were put forward. Respondents were asked about the current and future growth rates, market share of white putty in India. In order to forecast the India white putty market, following forecast techniques were used: • • •

INDUSTRY BRIEF According to TechSci Research report, “India White Putty Market By Type, By Surface of Application, By Purity, By Pack Size, By End Use, Competition, Forecast & Opportunities, 2025”, India white putty market is projected to grow at a steady CAGR of 11% during the forecast period owing to the increasing construction activities across the country, especially in the residential sector. Moreover, the initiatives taken by the government like ‘Housing For All’ and ‘Smart City Mission’ are accelerating the growth of the construction sector, which is eventually augmenting demand for white putty market. Additionally, the use of white putty by paints industries is further driving the market.

India white putty market is segmented based on type, surface of application, purity, pack size, end use, region and company. Based on type, the market is bifurcated into cement-based and acrylic-based, of which cement-based white putty dominates the market due to its high demand in concrete-based constructions and lower cost. Nevertheless, growth in demand for acrylic based putty to provide butter smooth finishing is also boosting white putty market in India. On the basis of surface of application, the market is divided into interior and exterior. The interior segment dominates the market since it is more practical to invest in higher quality of paint rather than application of white putty on exterior walls. Based on pack size, the market can be fragmented into up to 5Kg, 20Kg, 30Kg and 40Kg & Above. The 40Kg and 20Kg segments are likely to hold the significant market share since white putty is mostly used in huge construction infrastructure projects. Based on end use, the market can be categorized into residential, commercial, industrial and infrastructure. The residential segment dominates the market owing to the use of white putty prior to painting, since it enhances shine and durability of the paint. UltraTech Cement Ltd. is the largest producer of white putty in India with a production capacity of 0.56 MTPA. Other major white putty players operating in the country include J.K. Cement Limited, Asian Paints Limited, AkzoNobel India Ltd., Kansai Nerolac Paints Limited, Berger Paints India Limited, Sika India Pvt. Ltd., Walplast Products Pvt. Ltd., Sakarni Plastic (India) Private Limited, Surya Wall care chem Pvt. Ltd., and others. Some other players include JK Lakshmi Cement Ltd., Jay Chemicals Industries Ltd., HIL Limited, Trimurti Wall Putty, Prime Wall Putty, Velvet Paints, Unichem Industries, Prestige Coating Limited, Simco Paints, Durga Bond Chem Pvt. Ltd., among others. “India white putty market is witnessing consistent growth, owing to increasing demand for eco-friendly and cost-effective construction products across the country. The use of white putty in the residential segment has the potential to provide lucrative opportunities for the white putty market in India during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

SAMPLE DATA - SNAPSHOT India White Putty Market Size, By Value (INR Crore), 2015-2025F CAGR (2020E-2025F) By Value: xx%

CAGR (2015-2019) By Value: xx%

2015

2016

2017

2018

2019

2020E

2021F

2022F

2023F

2024F

2025F

By Value (INR Crore) North India White Putty Market Share, By Type, By Volume, 2015 - 2025F

2015

2017

2018

2019

2020E

2021F

2022F

2023F

2024F

2025F

Cement Based 40.00%

40.00%

Acrylic Based

60.00%

South India White Putty Market Share, By Pack Size, By Volume, 2015 - 2025F

2015

2016

2017

2018

2019

2020E

2021F

2022F

2023F

2024F

2025F

40 Kg & Above 40.00%

40.00%

20 Kg

20.00%

30 Kg

30.00%

Up to 5 Kg

10.00%

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REPORT NAME : INDIA WHITE PUTTY MARKET COMPETITION, FORECAST AND OPPORTUNITIES 2015 – 2025

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About Us & Disclaimer

TechSci Research is a global Market research and consulting company with offices in the US, UK and India. TechSci Research provides Market research reports in a number of areas to organizations. The company uses innovative business

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models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the Market .

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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative Market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.