Stucco Market

Global Stucco Market:

The global stucco market size reached US$ 11.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2024-2032. The increasing residential and commercial construction, supportive government infrastructure initiatives, surging renovation and retrofitting projects, and green building practices are primarily driving the market’s growth.

Stucco Market Analysis:

• Major Market Drivers: Due to the growing working population and the trend of modern offices, stucco is gaining traction in commercial establishments for enhanced aesthetics. Apart from this, leading manufacturers are launching novel designs with added benefits suitable for various applications, which is further propelling the stucco market’s demand.
• Key Market Trends: As urbanization continues, there is an increasing demand for cost-effective, long-lasting building materials like stucco for both new constructions and renovations, further propelling the industry’s growth. Additionally, ongoing technological advancements in stucco formulations and application techniques are contributing to stucco market growth.
• Competitive Landscape: Some of the prominent stucco market companies 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.), among many others.
• Geographical Trends: According to the stucco market dynamics, energy efficiency programs in the U.S. and Canada that encourage the use of insulating materials in construction are boosting demand for stucco in North America. Moreover, stucco is widely used in Europe, particularly in Italy, Spain, and Greece, due to its traditional aesthetic appeal and its ability to withstand the Mediterranean climate.
• Challenges and Opportunities: The shortage of skilled labor and high initial installation costs of stucco are hampering the market’s growth. However, the development of new eco-friendly stucco formulations, such as low-carbon cement stucco or bio-based stucco, presents an opportunity for the market to align with green building initiatives and meet rising consumer demand for sustainable products.
   

Stucco Market Trends:

Rising Spending on Residential Construction

The increasing spending on residential construction is a significant driver of growth in the stucco market. For instance, according to Statista, overall spending on new private residential buildings has increased dramatically over the last decade, rising from US$ 247 Billion in 2011 to US$ 918 Billion by 2022. Stucco's versatility in creating different textures, colors, and finishes makes it attractive for modern housing designs, especially for multi-family housing, apartment complexes, and townhouses. These factors are expected to propel the stucco market in the coming years.

Expanding Green Buildings Material Industry

The growing green building materials industry is significantly propelling the market’s growth. For instance, according to IMARC, the global green building materials market size reached US$ 346.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 716.4 Billion by 2032, exhibiting a growth rate (CAGR) of 8.18% during 2024-2032. Energy-efficient buildings are a key focus of green building standards like LEED, and stucco’s insulating properties make it a favored material for improving building performance in both residential and commercial projects. These factors further positively influence the stucco market forecast.

Government Initiatives

Many governments are investing in affordable housing programs to address housing shortages and meet the needs of growing urban populations. For instance, in July 2024, The Finance Minister of India announced central assistance of Rs 2.2 lakh crore in the budget for 2024-25 to stimulate the creation of affordable housing in metropolitan areas. Stucco is often favored in such projects due to its low cost, durability, and insulating properties, making it an economical solution for large-scale housing developments, thereby boosting the stucco market revenue.

Global Stucco Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global stucco market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on construction activity, product, insulation type, and end use.

Breakup by Construction Activity:

• New
• Renovation
   

The report has provided a detailed breakup and analysis of the stucco market based on the construction activity. This includes new and renovation.

According to the stucco market outlook, rapid urbanization and population growth are driving the construction of new residential, commercial, and infrastructure projects. In regions like Asia-Pacific, North America, and Latin America, the need for affordable, durable, and aesthetically pleasing building materials like stucco is increasing. Moreover, renovation projects often involve updating the appearance of older buildings, and stucco is a popular choice for giving buildings a modern and fresh look. Many property owners and developers use stucco to resurface old exteriors and improve the aesthetic appeal of homes, apartments, and commercial buildings, further driving the market’s growth.

Breakup by Product:

• Traditional Three-Coat Stucco
• Exterior Insulating and Finish Systems
• Newer-One Coat Stucco
   

The report has provided a detailed breakup and analysis of the stucco market based on the product. This includes traditional three-coat stucco, exterior insulating and finish systems, and newer-one coat stucco.

According to the stucco market overview, traditional three-coat stucco is the most durable and widely used method of applying stucco, consisting of a scratch coat, brown coat, and finish coat, which provides strength and longevity. While EIFS (Exterior Insulation and Finish Systems) is a multi-layered synthetic stucco system that includes insulation panels, base coats, and finish coats. EIFS is popular for its energy efficiency and design flexibility. Moreover, one-coat stucco is a more recent development in stucco applications, typically involving a single layer that combines the scratch and brown coats into one. It is faster to apply and less labor-intensive, making it a cost-effective alternative.

Breakup by Insulation Type:

• Insulated Siding
• Non-Insulated Siding
   

The report has provided a detailed breakup and analysis of the stucco market based on the insulation type. This includes insulated siding and non-insulated siding.

According to the stucco market insights, insulated siding stucco, commonly part of EIFS (Exterior Insulation and Finish Systems), incorporates an insulation layer between the structure and the outer stucco finish. This type of siding is designed to improve the building's energy efficiency by reducing heat transfer. While non-insulated siding stucco refers to traditional stucco systems without an added insulation layer. This type of siding is often used in regions where energy efficiency is not a primary concern, but durability, aesthetics, and cost-effectiveness are prioritized.

Breakup by End Use:

• Residential
• Non-Residential
   

The report has provided a detailed breakup and analysis of the stucco market based on the end use. This includes residential and non-residential.

According to the stucco market highlights, homeowners and developers often prioritize aesthetic appeal in residential construction. Stucco is a popular choice due to its ability to create a variety of textures, colors, and finishes, allowing for a wide range of architectural styles, from traditional to modern. While in non-residential construction, such as commercial buildings, offices, schools, and hospitals, durability is a top priority. Stucco provides a long-lasting exterior finish that can withstand wear and tear, weather, and heavy use without requiring frequent repairs.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

According to the stucco market statistics, stucco is highly valued in North American regions prone to wildfires for its fire-resistant properties. As regulations and building codes increasingly mandate fire-resistant materials, stucco is becoming a preferred exterior finish. While the European Union’s stringent energy efficiency regulations are driving the use of EIFS in both residential and commercial buildings. Countries like Germany, France, and the UK are seeing increasing adoption of insulated stucco systems as builders focus on reducing energy consumption and improving building performance, further driving the market’s growth.

Competitive Landscape:

The stucco market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market 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)
• The Dow Chemical Company (Dow Inc.)
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Stucco Market Recent Developments:

• September 2024: Outdoor Living Supply, a distribution platform specializing in outdoor living products and solutions, acquired Majestic Stone Landscape & Stucco Supply, a full-service distributor of manufactured and natural stone, hardscape, and landscaping materials.
• July 2024: PJCArchitecture teamed with Juan Pablo Ribadeneira Mora Arquitecto from Ecuador to create a two-toned house with a brick base in Quito. The ground level is wrapped in red brick that serves as a thermal mass, while the upper level is smooth, white stucco. 
• March 2024: LP Building Solutions (LP), a manufacturer of high-performance building solutions, introduced LP® SmartSide® Pebbled Stucco Panel Siding, the latest addition to the company's durable and adaptable engineered wood product line.

Stucco Market Report Scope:

Key Questions Answered in This Report:

• How has the global stucco market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global stucco market?
• What are the key regional markets?
• What is the breakup of the market based on the construction activity?
• What is the breakup of the market based on the product?
• What is the breakup of the market based on the insulation type?
• What is the breakup of the market based on the end use?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global stucco market and who are the key players?
• What is the degree of competition in the industry?

Key Benefits for Stakeholders:

• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the stucco market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global stucco market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the stucco industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.