Global Stucco Market Report Forecast 2024 - 2033
1 May, 2024
The stucco market has demonstrated robust growth, increasing from $12.61 billion in 2023 to $13.41 billion in 2024, with a CAGR of 6.3%. This growth is credited to factors such as aesthetic appeal, durability, energy efficiency, historical restoration, cost-effectiveness, and fire resistance. Looking ahead, the market is expected to experience strong growth, reaching $17.43 billion by 2028, with a CAGR of 6.8%. Anticipated drivers of this growth include expanding construction and renovation activities, emphasis on historical preservation, growing adoption in commercial and industrial applications, and emergence of new stucco products and technologies. Major trends in the forecast period are expected to include innovative textures and finishes, fiber-reinforced stucco, customization and color trends, digital tools for design, and fire-resistant stucco.
Major Driver In The Stucco Market
The stucco market is witnessing rapid expansion driven by the growing adoption of smart building and city technologies, where stucco technology's durability and affordability position it as a preferred choice in construction projects. The US Department of Energy's substantial investment of $61 million in smart buildings further underscores the significance of stucco technology in modern construction practices. As smart buildings and cities continue to proliferate, fueled by technological advancements, the stucco market experiences sustained growth to meet the evolving needs of contemporary urban development.
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Sika AG, Cemex S.A.B. de C.V., BASF SE, Omega Products International, Dryvit Systems Inc., Quikrete Holdings Inc., Sto Group Inc., California Stucco Products Corp., Western Blended Products, DowDuPont de Nemours Inc., Senergy Pvt. Ltd., Simplex CC Ltd., James Hardie Industries PLC, USG Corporation, RPM International Inc., Boral Limited, Parex Inc., LaHabra Stucco, Master Wall Inc., Merlex Stucco Inc., Quikspray Inc., Conproco Corp., Western Stucco Products, Imasco Minerals Inc., California Stucco Products Corp., BMI Products of Northern California Inc., Pyramid Stucco Co., Sunrise Stucco Inc., Arcat Inc., Sherwin-Williams Company, Akzo Nobel NV
Key Stucco Market Trend
Innovations drive product launches in the stucco market, with major companies introducing collections like Kraftizen to enhance efficiency in low-voltage solar PV systems. Cosentino Group launched Kraftizen in October 2022, a new Dekton collection merging craft and technology. This carbon-neutral surface offers a modern interpretation of handcrafted stucco, featuring rich textures and versatile colors suitable for both indoor and outdoor applications. The collection reflects a digital reimagination of traditional craftsmanship, providing durable and aesthetically pleasing surfaces for various architectural projects.
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Stucco Market Segmentation
The global stucco market covered in this report is segmented –
1) By Type: Traditional, Insulated
2) By Base: Concrete, Masonry, Tile, Other Bases
3) By Material: Cement, Aggregates, Admixture, Plasticizers, Reinforcement, Bonding Agent, Other Materials
4) By Application: Residential, Non Residential
By Geography:The regions covered in the stucco market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the stucco market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the market.
The Stucco Global Market Report 2024 furnishes information about the global stucco market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.