Glaziers, Grafting Putty and Painters' Filling Market

The global market for glaziers putty, grafting putty, mastics, and painters fillings is projected to see continued growth in both volume and value over the next eight years. China dominates both consumption and production, with significant growth in consumption rates in India and the United States as well. Germany leads in exports, with Azerbaijan seeing the highest growth rate in exports. Prices are expected to increase steadily in the coming years, with noticeable fluctuations in certain countries. Overall, the market is anticipated to see stable growth and demand worldwide.

Market Forecast

Driven by increasing demand for glaziers putty, grafting putty, other mastics and painters' fillings worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 8.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $26.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

In 2022, after two years of decline, there was growth in consumption of glaziers putty, grafting putty, other mastics and painters' fillings, when its volume increased by 0.8% to 7.4M tons. Overall, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 6.2% against the previous year. Over the period under review, global consumption of hit record highs at 7.4M tons in 2019; afterwards, it flattened through to 2022.

The revenue of the market for glaziers putty, grafting putty, other mastics and painters' fillings worldwide reached $20.4B in 2022, surging by 3.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

China (1.9M tons) remains the largest glaziers, grafting putty and painters' filling consuming country worldwide, accounting for 25% of total volume. Moreover, consumption of glaziers putty, grafting putty, other mastics and painters' fillings in China exceeded the figures recorded by the second-largest consumer, India (691K tons), threefold. The third position in this ranking was held by the United States (598K tons), with an 8.1% share.

In China, consumption of glaziers putty, grafting putty, other mastics and painters' fillings remained relatively stable over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+2.9% per year) and the United States (+1.2% per year).

In value terms, the largest glaziers, grafting putty and painters' filling markets worldwide were China ($4.2B), the United States ($3.3B) and Japan ($2.9B), with a combined 51% share of the global market. Indonesia, Germany, India, Canada, the UK, Mexico, Russia, Brazil, Iran and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 25%.

In terms of the main consuming countries, Germany, with a CAGR of +10.3%, recorded the highest rates of growth with regard to market size over the period under review, while fillings for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of glaziers, grafting putty and painters' filling per capita consumption in 2022 were Canada (3.4 kg per person), Germany (3.4 kg per person) and Japan (2.3 kg per person).

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +8.7%), while fillings for the other global leaders experienced more modest paces of growth.

Production

World Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

In 2022, the amount of glaziers putty, grafting putty, other mastics and painters' fillings produced worldwide rose modestly to 7.5M tons, surging by 2.2% on 2021 figures. The total output volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 4.4% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings fell to $20.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 17%. Global production peaked at $21.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (2M tons) constituted the country with the largest volume of production of glaziers putty, grafting putty, other mastics and painters' fillings, comprising approx. 27% of total volume. Moreover, production of glaziers putty, grafting putty, other mastics and painters' fillings in China exceeded the figures recorded by the second-largest producer, India (692K tons), threefold. The United States (625K tons) ranked third in terms of total production with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: India (+3.0% per year) and the United States (-0.2% per year).

Imports

World Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Global imports of glaziers putty, grafting putty, other mastics and painters' fillings shrank modestly to 2.4M tons in 2022, stabilizing at 2021 figures. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13%. As a result, imports attained the peak of 2.4M tons, leveling off in the following year.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings expanded markedly to $8.3B in 2022. The total import value increased at an average annual rate of +4.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

Germany (148K tons), the United States (105K tons), the UK (86K tons), France (78K tons), Russia (77K tons), Canada (60K tons), Belgium (59K tons), Turkey (56K tons), Italy (54K tons), China (53K tons), Poland (51K tons) and Mexico (50K tons) represented roughly 37% of total imports in 2022. Georgia (45K tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +9.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($578M), Germany ($528M) and the United States ($486M) were the countries with the highest levels of imports in 2022, together comprising 19% of global imports.

Among the main importing countries, the United States, with a CAGR of +10.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for glaziers putty, grafting putty, other mastics and painters' fillings stood at $3,502 per ton in 2022, with an increase of 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 an increase of 9.1% against the previous year. Global import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($10,954 per ton), while Georgia ($365 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+8.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

For the eleventh consecutive year, the global market recorded growth in overseas shipments of glaziers putty, grafting putty, other mastics and painters' fillings, which increased by 4.2% to 2.5M tons in 2022. The total export volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings reached $8.3B in 2022. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 22%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, Germany (304K tons), followed by Belgium (188K tons), China (174K tons), France (135K tons), the United States (132K tons) and Turkey (121K tons) were the major exporters of glaziers putty, grafting putty, other mastics and painters' fillings, together creating 42% of total exports. The following exporters - Poland (102K tons), Azerbaijan (94K tons), Italy (86K tons), Sweden (77K tons), the Netherlands (75K tons), Switzerland (72K tons) and South Korea (66K tons) - together made up 23% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Azerbaijan (with a CAGR of +173.9%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest glaziers, grafting putty and painters' filling supplying countries worldwide were Germany ($1.7B), the United States ($917M) and Belgium ($772M), with a combined 41% share of global exports. China, the Netherlands, France, Switzerland, Turkey, Poland, South Korea, Italy, Sweden and Azerbaijan lagged somewhat behind, together comprising a further 34%.

Azerbaijan, with a CAGR of +96.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for glaziers putty, grafting putty, other mastics and painters' fillings stood at $3,323 per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 8.4%. The global export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($6,933 per ton), while Azerbaijan ($34 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform