Stucco Market by Material (Cement, Aggregates, Admixture, Plasticizers, Bonding Agent), Type (Traditional, Insulated), Base (Concrete, Masonry, Tile), End-use (Residential & Non-residential), and Region- Global forecast to 2024
“Increasing consumption of stucco in the non-residential construction is projected to drive the overall growth of the stucco market across the globe from 2019 to 2024.”
The stucco market is projected to grow from USD 10.9 billion in 2019 to USD 13.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 4.2% from 2019 to 2024. The global stucco market has witnessed high growth primarily because of the increasing non-residential construction worldwide. Rapid industrialization and expansion in the emerging economies, coupled with an increasing need for sustainable and energy-efficient building solutions, are contributing to the increasing growth of the stucco market over the next few years. However, the preference of consumers for finished systems over stucco may hinder the growth of the stucco market.
“In terms of both value and volume, the insulated segment is projected to grow at a higher CAGR during the forecast period.”
The insulated segment, by type, is projected to grow at a higher CAGR during the forecast period, in terms of value and volume. Insulated stucco provides high strength, prolonged durability, and ability to fight moisture to the buildings; also, it requires less maintenance. These factors make stucco an ideal choice in the construction industry.
“In terms of both value and volume, the Asia Pacific stucco market is projected to contribute the maximum share during the forecast period.”
In terms of value, the Asia Pacific region is projected to lead the stucco market from 2019 to 2024 due to the strong demand from countries such as China, Japan, India, Australia, and South Korea. This demand in these mentioned countries is due to the tremendous growth of the construction opportunities in these countries, due to the low-cost labor and cheap availability of lands. The demand is also driven by the increasing growth of the building & construction industry.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the stucco market.
Break-up of Primaries:
By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
By Designation: C-Level: 40%, D-Level: 35%, and Others*: 25%
By Region: North America: 20%, Europe: 30%, Asia Pacific: 35%, Middle East & Africa: 10%, and
South America: 5%
*Others include sales managers, marketing managers, and product managers.
Note: The three tiers of the companies were decided based on their revenues as of 2018.
The stucco market comprises major manufacturers such as Sika AG (Switzerland), Cemex (Mexico), BASF SE (Germany), Omega Products International (US), and Dryvit Systems Inc. (US).
The market study covers the stucco market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on the type, material, base, end-use sector, and region. The study also includes in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their positions in the stucco market.
Key Benefits of Buying the Report
The report is projected to help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall stucco market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
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