The increase in urbanization and demand for appealing aesthetics provides new design opportunities for the stucco market.
Covid-19 Impact & Market Status
COVID-19 had severely impacted all business companies and the stucco market was one of them. Due to lockdown, every sector was forced to shut their work until the situation would be recovered. This paused the work of the manufacturing and transportation sectors. Due to the unavailability of laborers and other requirements, the construction of buildings and apartments could not happen. Hence, many construction plans were put on hold. This caused a heavy loss of resources and infrastructure that was already bought. Many potential companies had to stop their work in between and many companies had to wait for the construction of their office place. Many people had planned the construction of their own homes but all these plans had to be put on hold. This caused a loss of time and money to various companies and many individuals who were ready to build their office buildings and apartments.
After the lockdown was over, all the companies paced up with innovative tools and techniques and resumed their work. This helped them to recover their loss and with increasing growth, it is expected that the CAGR of the global stucco market will increase.
The residential sector has high stucco requirements and is expected to increase the CAGR of the global stucco market.
The features of stucco increase its demand for the construction of residential apartments that need to be strong, insulating, and appealing. As stucco can be used as construction and renovation material, the scope of its use for construction purposes increases. Stucco can be mixed with various components like wallboard or other mixture used for construction or coating ceilings, walls, or floors. This increases the strength of those components and provides them exterior insulation from heat and weather changes. This increases the global stucco market and drives the potential companies to manufacture more stucco material for construction and decoration purposes.
The insulating stucco type is in high demand and is widely used in Asia Pacific regions for the construction of residential apartments and other buildings.
The office buildings, residential apartments, and other enterprise sector buildings require insulation from heat and weather changes because of the heavy workload inside those buildings. Various machines need to be insulated from outside weather change for proper functioning, hence, stucco is used as it provides exterior insulation and protects the inside infrastructure. This increases the demand for the stucco market and saves costs and resources for the companies.
The increase in expenditure by the government and several non-governmental organizations for improvement in architectural design is driving the stucco market.
The increasing technology brings the latest tools and techniques for better design and development processes. These techniques are widely used in the architectural sector for designing modern buildings that provide appealing aesthetics to the customers. Hence, there is always a busy working in the stucco market as the martial used to set the base and entire building is selected after analyzing various substituents. This is done because the entire building strength and aesthetics depend on the base material. Therefore stucco is selected properly and according to the specific building design and other requirements.
The Compound Annual Growth Rate (CAGR) of the global stucco market is expected to be 4.32% with increased market size of USD 14.83 Billion.
Succo market has highly developed and expanded with an increase in the construction of office buildings, residential buildings, and other ono-residential apartments. The stucco market is highly preferred because stucco requires less amount to water for making the plaster material. The mixture of stucco and gypsum or wallboard material provides sufficient strength to the walls and other building parts.
Stucco is highly preferred because of its amazing features like weather resistance capacity, strength, durability, wall covering, and much more. This makes the stucco market expand its domain as stucco can be used in new construction works, renovation, and decoration purposes. Apart from building walls, ceilings, and other components, stucco is widely used for making sculptures and other artistic models that represent the glory of an art gallery. They serve as a decorative material in various apartments as they are durable and provide appealing aesthetics to the components that are made of them. Hence, many companies use stucco during the construction of their office buildings or apartments.
Previously, stucco was used as coatings and several layers were applied to the building walls for insulating them from weather changes. Now, stucco is directly mixed with the wallboard mixture and applied for the construction of specific building components. The insulating stucco type is highly demanded in the market because such materials are rare that provide insulation at the base level. Hence, insulating stucco materials are highly manufactured by potential companies and this type holds the largest revenue in the global stucco market.
Due to its high strength and endurance, stucco is in demand for the construction of various residential apartments. The finishing texture and endurance provided by stucco are highly remarkable and this feature drives the companies to manufacture more stucco and increase the sales of the stucco market. This enables them to increase their GDP by increasing their sales and the quality of products sold in the market.
Instead of all these features, the stucco market is being replaced by various stones and other concrete materials because stucco is not preferred during the rainy season as it cannot withstand moisture for a long duration. Hence, buildings in the regions where there is heavy and continuous rainfall are not made up of stucco because stucco won’t be able to provide the strength and required hardness.
The major players of the global stucco market are Heidelberg, BASF SE, CEMEX S.A.B. de C.V., RPM Inernational Inc., General Electric, Sika AG, GCP Applied Technologies Inc., Fosroc International Ltd., The Quikrete Companies, Omega Products International, Western Blended Products, Dryvit Systems Inc., California Stucco Products Corp., Sto Group, E. I DuPont DE Nemours, LaHabra Stucco, CertainTeed Corporation, Arcat Inc., and Mapei S.p.A.
Latest Innovations in the Global Stucco Market: a Snapshot
- To cater to the diverse construction needs and bridge the gaps in drainage space, North America-based Rainscreen Association is encouraging a change in code to improve cement plaster for both residential code needs and international building codes. The submission for the code is due on 10th January 2022.
Stucco Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 14.83 billion|
|Growth Rate||CAGR of 4.32% during 2021-2028|
|Segment Covered||Construction Activity, Product, Material, Base, Insulation Type, End-User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Heidelberg, BASF SE, CEMEX S.A.B. de C.V., RPM Inernational Inc., General Electric, Sika AG, GCP Applied Technologies Inc., Fosroc International Ltd., The Quikrete Companies, Omega Products International, Western Blended Products, Dryvit Systems Inc., California Stucco Products Corp., Sto Group, E. I DuPont DE Nemours, LaHabra Stucco, CertainTeed Corporation, Arcat Inc., and Mapei S.p.A.|
Key Segments of the Global Stucco Market
Construction Activity Overview, 2018-2028 (USD Billion)
- Renovation Construction
Product, 2018-2028 (USD Billion)
- Traditional Three-coat Stucco
- Exterior Insulating and Finishing Systems
- Newer-one Coat Stucco
Material Overview, 2018-2028 (USD Billion)
- Bonding Agent
Base Overview, 2018-2028 (USD Billion)
Insulation Type Overview, 2018-2028 (USD Billion)
- Insulated Siding
- Non-insulated Siding
End-User Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa