According to the latest report by IMARC Group, titled “Stucco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global stucco market size reached US$ 10.9 Billion in 2021. Stucco, also known as render, is a plaster that is composed of aggregates, a binder, and water. The material can be applied to walls, ceilings, floors, cornices, moldings, and other decorative surfaces as a decorative coating. With adhesives, powdered colors, and liquid colors, it creates a smooth wall surface that can be custom-colored and textured. Applied as a liquid and solidified after drying, stucco is extremely tough, long-lasting, and fireproof. Despite its low maintenance requirements, it is able to withstand sun rays and harmful UV rays, making it ideal for both hot and cold climates.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Stucco Market Trends:
The global market is majorly driven by the rapid product utilization in the construction industry. This can be attributed to a considerable rise in construction activities across the globe. In line with this, the paradigm shift toward the incorporation of innovative concrete structure design aesthetics in residential and commercial buildings is providing an impetus to the market. Additionally, the rising trend of contemporary workplaces, along with the growing working population, is resulting in a higher product uptake in commercial enterprises. Moreover, favorable initiatives aimed at enhancing infrastructure development undertaken by the governments of several countries are also creating a positive market outlook. Continual technological advancements, such as the rising number of smart buildings and the introduction of innovative products, such as stucco spraying machines, are further fueling the market. Some of the other factors contributing to the market include rapid urbanization leading to improved lifestyles, inflating disposable incomes, low production costs of stucco, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 14.1 Billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027.
- Based on the construction activity, the market has been segmented into new and renovation.
- On the basis of the product, the market has been divided into traditional three-coat stucco, exterior insulating and finish systems, and newer-one coat stucco.
- Based on the insulation type, the market has been categorized into insulated siding and non-insulated siding.
- On the basis of the end-use, the market has been classified into residential and non-residential.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include BASF SE, CEMEX S.A.B. de C.V., Dryvit Systems Inc (RPM International Inc.), Fosroc International Ltd., GCP Applied Technologies Inc., General Electric, HEIDELBERGCEMENT AG, Mapei S.p.A, Omega Products International, Sika AG, Sto Corp (Stotmeister Beteiligungs GmbH), and The Dow Chemical Company (Dow Inc.).
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