According to the recently published industry report by Fact.MR , the global stucco market is valued at USD 11.93 billion in 2023. The global demand for stucco is expected to grow at a CAGR of 3.7% , reaching a market value of USD 17.20 billion by the end of 2033.
Increasing construction activities in residential and non - residential sectors such as apartments, highways, buildings , and skyscrapers are driving demand for stucco owing to its multiple benefits such as low maintenance , fungus and rot resistance, low cost , finish durability, fire resistance, hardness, and color retention . These features are attracting the attention of customers globally.
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In addition, it has the ability to transform moisture and is permeable to air. If water penetrates the plastered surface, it is not trapped. Thus, it becomes impervious to rot and fungus and can withstand various climates, including cold, drought , heat and humidity .
Various types of raw materials, including water, sand, lime, and Portland cement materials, are mixed together to make stucco. It is widely used to cover exterior and interior surfaces of floors, ceilings and walls. Additionally, it is also used for making moldings, cornices and other decorative elements.
Key Takeaways from Market Study:
- The global stucco market reached a size of US$ 11.60 billion in 2022.
- Global demand for stucco is estimated at US$ 11.93 billion in 2023.
- Sales of stucco are projected to rise at a CAGR of 3.7% from 2023 to 2033.
- Demand for stucco is set to reach a market valuation of US$ 17.20 billion by the end of 2033.
- Sales of traditional three-coat stucco are predicted to expand at a CAGR of 3.4% and reach US$ 4.6 billion by 2033.
- The United States market was valued at US$ 3.2 billion in 2022.
- The stucco market in China is estimated to reach US$ 3.5 billion by 2033.
- Demand for stucco in Germany is forecasted to increase at a sluggish CAGR of 1.9% through 2033.
- Sales of stucco in Japan are projected to advance at a slow CAGR of 1.1% from 2023 to 2033.
“Rapid growth of the global construction industry along with the versatility of stucco is predicted to contribute to lucrative opportunities for players in the market,” says a Fact.MR analyst.
Significant Expansion of Commercial and Residential Infrastructure
The number of residential and commercial infrastructure projects is increasing rapidly around the world. The rising construction of skyscrapers, apartments, highways, buildings, etc., is leading to increased demand for stucco. Finishing durability, fungus and rot resistance, fire resistance, low maintenance, color retention, hardness, and low cost are some key properties of stucco that are contributing to its increased demand for different activities related to construction.
Winning Strategies
Market players are involved in mergers, acquisitions, product launches, etc., to get a competitive edge.
For instance,
- In May 2019, Sika AG acquired Parex Group. The latter is one of the prominent manufacturers operating in the construction industry with its headquarters in France. Australia, the United Kingdom, Singapore, Brazil, Argentina, France, the United States, and China are some key markets where Parex Group is operating. This acquisition is predicted to help in the expansion of Sika AG with the use of distribution channels and technologies of Parex.
- In March 2019, Quikrete launched the FastSet Stucco Patch, which makes repairing of stucco faster, more effective, and easier. Moreover, this newly launched product is cement-based material formulated for the restoration of damaged stucco surfaces.
Arcant, Inc., California Stucco Products Corporation, BASF SE, CertainTeed Corporation, Merlex Stucco, Dow, Inc., Omega Products International, DuPont de Nemours, Inc., and Parex USA, Inc. are some prominent suppliers of stucco.
United States Dominates the North American Stucco Market
In 2022, stucco sales in the United States reached $3.2 billion, driven by the growing demand for energy-efficient buildings. Stucco sealing enhances insulation efficiency, maintaining stable indoor temperatures and reducing heat transfer. The United States is renowned for its implementation of energy-efficient laws and regulations, which are expected to drive stucco demand.
A rising trend in sustainable construction practices and green building certifications is expected to influence stucco sales positively. The increasing use of stucco in various construction projects, including commercial and residential structures, is contributing to market expansion.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the stucco market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on product (traditional three-coat, newer one-coat, exterior insulating & finish systems), insulation type (insulated siding, non-insulated siding), and end user (residential, non-residential), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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