JK Cement is expected to complete its putty expansion project by June 2020. JK Cement is spending Rs 30-40 crore on putty expansion project which will increase the manufacturing capacity of the company by 0.3 MTPA.
Meanwhile, for the first nine months of the current financial year, White Cement and Putty industry grew by 7% while the Company grew by 10.8%.
JK Cement and UltraTech are the leading manufacturers of wall putty in the country. JK Cement has 0.9 MTPA wall putty manufacturing capacity. During FY 2018-19, JK Cement commissioned an additional installed capacity of 0.20 MTPA of white cement-based wall putty at its Katni plant in Madhya Pradesh.
In terms of volume, putty market size is estimated to be 4-4.5 MTPA with unorganised players accounting for 1.2-1.5 MTPA capacity. UltraTech and JK Cement together account for half of the market share (24% each) while the three paint makers, Asian Paints, Berger Paints and Kansai Nerolac account for 30% of the market share. Unorganised manufacturers and others account for the rest.
Wall putty is used for exterior and interior walls. It basically serves purposes like levelling of wall surfaces, and being a protective base for expensive paints and many more. Coarse Putty is used to level the wall surface. For minor jobs, putty can be easily applied by a brush or with a spray. Putty is primarily used to fill cracks and surface imperfections. Putty is also used for providing a protective base, especially for expensive paints. It prevents the paint from flaking. Putty is also used to fill pores in walls and ceilings.