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2020

Stucco Market

Stucco Market Size, Share, Competitive Landscape and Trend Analysis Report, by Construction Activity, Product, Insulation Type and End Use : Opportunity Analysis and Industry Forecast, 2019-2026

MC : Advanced Materials

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Author's: Ayushi Choudhary | Eswara Prasad
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Stucco Market Outlook - 2026:

The global stucco market was valued at $10.7 billion in 2018, and is projected to reach $15.3 billion by 2026, growing at a CAGR of 4.5% from 2019 to 2026. Stucco is a construction material consisting of aggregates, a binder, and water. It is applied in wet form and hardens to a dense solid. Stucco wall and ceilings are developed with the help of aesthetic coating for sculptural and artistic applications in architecture.

The stucco market growth is driven by the growing urban population and increase in industries. The construction industry accounted for $8.7 trillion in 2013, 10% of the global GDP. The global GDP is expected to grow by an average of 3.5% per year for the next 12 years, construction output will increase by 4.3% per year. Hence, the construction industry is expected to represent a larger share of the global economy by 2022. The global GDP is expected to achieve $83 trillion mark by 2022, and the construction industry can be projected to reach $12.7 trillion by 2022. Thus, with growing construction activities, the demand for stucco is expected to increase, thereby driving the growth of the global market.

Stucco Market 2019-2026

The global stucco market is segmented into construction activity, product, insulation type, end use, and region. Depending on construction activity, the market is classified into new and renovation construction. The new segment was the highest contributor to the market. In new construction activities, stucco is used as a decorative coating for walls & ceiling, and for sculptural & artistic material in architecture. Stucco offers a durable, attractive, and weather-resistant wall covering. The renovation segment is estimated to grow with the highest CAGR during the forecast period.

By product, it is segregated into traditional three-coat stucco, exterior insulating & finish systems, and newer-one coat stucco. The traditional three-coat stucco segment was the highest contributor to the market. Traditionally, stucco was applied in three coats the scratch coat, the brown coat, and the finish coat. The finish coat contains color and is applied to get texture form. The exterior insulating & finish systems segment is estimated to grow with the highest CAGR during the forecast period.

Stucco Market
By Construction Activity
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Renovation segment is projected as the fastest growing segment.

As per insulation type, the market is fragmented into insulated siding and non-insulated siding. The insulated siding segment was the highest contributor to the market. Insulated stucco is a plaster-like exterior finish that is popular as a siding material. It is tough, durable, and offers superior thermal insulation with added benefit of reduced energy costs. The non-insulated siding segment is estimated to grow with the highest CAGR during the forecast period.

Stucco Market
By Product
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Exterior insulating & finish systems is projected as the fastest growing segment.

According to end use, the market is bifurcated into residential and nonresidential. The residential segment was the highest contributor to the market. Stucco is used for residential construction to offer long-lasting finish and decorative structure. With growing residential construction, the demand for stucco is expected to increase significantly. The non-residential segment is estimated to grow with the highest CAGR during the forecast period. 

Stucco Market
By Insulation Type
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Non-Insulated Siding segment would exhibit CAGR of 5.4% during 2019-2026.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in the global stucco market size. Asia-Pacific stucco market is studied across China, Japan, India, and rest of Asia-Pacific. The unremitting growth of urban population and demand for improved infrastructure are expected to drive the growth of the market.

Stucco Market
By End-use
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Non-Residential segment would exhibit CAGR of 6.1% during 2019-2026.

The key players operation in the global stucco market include BASF SE, RPM International Inc., Sika AG, Fosroc International Ltd., Mapei S.p.A., GCP Applied Technologies Inc., General Electric (GE), CEMEX S.A.B. de C.V., and Heidelberg. The market dominance of these companies is characterized by their vast product portfolio of stucco, high investment in R&D activities for stucco, revenue, capital expenditure, employee strength, and geographical presence of companies.

Stucco Market
By Region
2026
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit CAGR of 5.3% during 2019-2026.

These companies have adopted various strategies such as product launch, R&D, acquisition, merger, product development, and partnership to gain a competitive edge in the market and increase their stucco market share in the global market. For instance, Mapei inaugurated the enlargement of its facilities in the UAE. The cost of expansion is more than USD 6.5 million and features an additional 5,200 square meter covered warehousing for larger storage capacity and a new epoxy resin production line. This business expansion helped Mapei to reinforce its presence in the Middle East market.

Key Benefits for Stakeholders

  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current stucco market trends and future scenario of the market size from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in the region have been mapped according to their individual revenue contribution in the stucco market analysis at the regional and country-level market.
  • The key drivers, restraints, and stucco market opportunities and their detailed impact analyses are elucidated in the study.
  • The profiles of key players along with their key strategic developments are enlisted in the report.
  • The global stucco market forecast is from 2019-2026. 

Stucco Market Report Highlights

Aspects Details
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By Construction Activity
  • New
  • Renovation
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By Product
  • Traditional Three-coat Stucco
  • Exterior insulating & Finish Systems
  • Newer-one Coat Stucco
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By Insulation Type
  • Insulated Siding
  • Non-insulated Siding
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By End Use Vertical
  • Residential
  • Nonresidential
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Russia, Germany, France, Turkey, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

HEIDELBERG CEMENT, BASF SE, FOSROC INTERNATIONAL LTD., GCP APPLIED TECHNOLOGIES INC., GENERAL ELECTRIC, MAPEI S.P.A., SIKA AG, CEMEX S.A.B. DE C.V., RPM INTERNATIONAL, Dow Inc.

Analyst Review

The Asia-Pacific stucco market offers lucrative opportunities for key manufacturers, owing to the presence of a wide range of suppliers and manufacturers in this region. In addition, high economic growth rate, increase in purchasing power, and R&D activities for the stucco in plaster & mortar applications are expected to fuel the market growth. Rise in residential construction due to the massive influx of migrants in Western European countries further drives the growth of the construction sector in Germany, which, in turn, is anticipated to augment the demand for effective construction material such as stucco.

According to the Global Construction Perspectives and Oxford Economics, the construction industry is expected to rise to $15 trillion by 2025. The global construction industry is expected to represent 13.5% of the global economy by 2025. Hence, it is expected that with rapid construction, the demand for stucco will increase significantly. Furthermore, surge in demand for stucco in precast applications due to its aesthetic and beautification properties boosts the market growth.

Author Name(s) : Ayushi Choudhary | Eswara Prasad
Frequently Asked Questions?

Increase in use of stucco in the construction sector is expected to be the key driving factor of the global stucco market.

Expansion is one of the key growth startegy adopted by stucco market players. In an instance, Sika opened a new manufacturing site for mortars in Kryoneri, near Athens. It drive forward the mortar business in the country by broadening the current product portfolio and opening up new market segments.

Increase in investment in new technologies for stucco preparing machinery and rise in new construction projects are expected to offer growth opportunities to the global stucco market.

Asia-Pacific was the highest revenue contributor. India is estimated to be the fastest growing country in Asia-Pacific stucco market. India is growing with a significant CAGR owing to industrial growth for infrastructure segment promoting growth and functionality of stucco.

The insulated siding segment was the dominant position in the stucco market.

The key players operation in the global stucco market include BASF SE, RPM International Inc., Sika AG, Fosroc International Ltd., Mapei S.p.A., GCP Applied Technologies Inc., General Electric (GE), CEMEX S.A.B. de C.V., and Heidelberg.

Construction companies are the potential customers of stucco industry.

Stucco is used for residential construction to offer long-lasting finish and decorative structure. With growing residential construction, the demand for stucco is expected to increase significantly.

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Stucco Market

Opportunity Analysis and Industry Forecast, 2019-2026