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Stucco market size was USD 10.7 billion in 2018 and is set to surpass USD 15.3 billion by 2026, According to a new report published by Allied Market Research.Worldwide stucco market is segmented into construction activity, product, insulation type, end use, and geography. Based on construction activity, the industry categorized into new and renovation construction. On the basis of product, the stucco market is bifurcated into traditional three-coat stucco, exterior insulating & finish systems, and newer-one coat stucco.
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Based on insulation type, the stucco market is segmented into insulated siding and non-insulated siding. The non-insulated siding segment is projected to portray the fastest CAGR of 5.4% during the forecast period. However, the insulated siding segment held the largest share in 2019, accounting for more than two-thirds of the market.
Development of the construction market & high purchasing power of end-users have drive the growth of the stucco market. However, low consumer awareness toward the availability of stucco hampers the industry growth. On the contrary, rise in demand from emerging economies is expected to create lucrative opportunities in the near future.
On the basis of end use, the market is segmented into residential and nonresidential. The residential segment dominated the market in 2019, accounting for more than four-fifths of the total revenue. However, the non-residential segment is estimated to portray the fastest CAGR of 6.1% through 2026.
Major market players:
1. BASF SE
2. Sika AG
3. RPM International Inc.
4. Mapei S.p.A.
5. Fosroc International Ltd.
6. General Electric (GE)
7. GCP Applied Technologies Inc.
8. Heidelberg
9. CEMEX S.A.B. de C.V.
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The global stucco market across Asia-Pacific held the largest share in 2019, accounting for more than two-fifths of the market and is expected to manifest the fastest CAGR of 5.3% during the study period. This is due to the unremitting growth of the urban population and demand for improved infrastructure. The market across North America held more than one-fourth of the market.
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