Global Stucco Industry was estimated at USD 10.7 Billion in 2018 and is projected to reach USD 15.3 Billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
PORTLAND, OREGON, USA, March 9, 2022 /EINPresswire.com/ — Allied Market Research recently released a report titled “Stucco Market by Construction Activity (New and Renovation Construction), Product (Traditional Three-coat Stucco, Building Exterior Insulation and Finish, and Newer Single-Coat Stucco), Insulation Type (Insulated Siding and Non-Insulated Siding) and End Use (Residential and Non-Residential): Opportunity Analysis and Industry Forecast, 2019- 2026.” According to the report, the global stucco industry was estimated at $10.7 billion in 2018 and is projected to reach $15.3 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026. .
Market Growth Incentives:
The development of the global construction industry and the high purchasing power of end users have boosted the growth of the global stucco market. However, low consumer awareness about the availability of stucco is hampering the growth of the market. On the contrary, increasing demand from emerging economies is expected to create lucrative opportunities in the near future.
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The insulated cladding segment held the largest share:
The insulated coating segment dominated the global stucco market in 2019, contributing more than two-thirds of the market. When applied over the insulated sheathing of the building, stucco acts as a blanket that provides insulation from outside heat. In addition, it avoids energy losses through the wall. These factors contribute to the growth of the segment. However, the non-insulated siding segment is expected to show the fastest CAGR of 5.4% over the forecast period as it is durable, attractive and weather resistant.
Non-residential to represent fastest CAGR through 2026:
The non-residential segment is expected to show the fastest CAGR of 6.1% during the forecast period, owing to the development of the non-residential sector in emerging countries and its use as an aesthetic material. However, the residential segment held the largest share in 2019, accounting for more than four-fifths of the global stucco market. Stucco is resistant to fire, fungus, rot and insects and the improved thermal insulation property of synthetic stucco propels the demand for stucco in residential business.
Asia-Pacific market, followed by North America, to open up new opportunities:
The global stucco market in Asia-Pacific held the largest share in 2019, accounting for more than two-fifths of the market and is expected to show the fastest CAGR of 5.3% during the study period. This is due to the relentless growth of the urban population and the demand for improved infrastructure. The North American market held more than a quarter of the market.
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Main market players:
RPM International Inc.
Fosroc International Ltd.
General Electric (GE)
GCP Applied Technologies Inc.
CEMEX SAB de CV
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