Stucco Global Market Report 2024

Stucco serves as a decorative coating for walls and ceilings, both interior and exterior. Comprising aggregates, a binder, and water, this building material is applied in a liquid state and solidifies into a durable and fireproof solid upon drying. It is widely utilized in architecture for its toughness, longevity, and aesthetic appeal, functioning as both a decorative coating for walls and ceilings and as an exterior material with sculptural qualities.

Stucco comes in two main types: traditional and insulated. Traditional stucco is crafted from cement, lime, and coarse sand, offering durability and resilience against the elements. It is applied on various bases such as concrete, masonry, tile, and others. The material involves a mix of components, including cement, aggregates, admixture, plasticizers, reinforcement, bonding agents, and more. Stucco finds application in both residential and non-residential settings.

The stucco market research report is one of a series of new reports that provides stucco market statistics, including stucco industry global market size, regional shares, competitors with a stucco market share, detailed stucco market segments, market trends and opportunities, and any further data you may need to thrive in the stucco industry. This stucco market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The stucco market size has grown strongly in recent years. It will grow from $12.61 billion in 2023 to $13.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The historical growth can be attributed to factors such as the aesthetic appeal of stucco, its durability and weather resistance, energy efficiency, its role in historic restoration, cost-effectiveness, and fire resistance.

The stucco market size is expected to see strong growth in the next few years. It will grow to $17.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to the expansion of construction and renovation activities, a focus on historical preservation, increased adoption in commercial and industrial applications, the development of emerging markets and infrastructure, and the introduction of new stucco products and technologies. Noteworthy trends in the forecast period include the use of innovative textures and finishes, the incorporation of fiber-reinforced stucco, customization and adherence to color trends, the application of digital tools for design, and the implementation of fire-resistant stucco.

The anticipated surge in smart building development is poised to drive the stucco market's growth in the foreseeable future. Smart buildings, characterized by the use of automated processes to control operations through sensors, actuators, and microchips, often employ stucco technology due to its durability and cost-effectiveness. As indicated in a report from the US Department of Energy in October 2021, the US government allocated a substantial $61 million for the advancement of smart buildings. This initiative encompasses ten interconnected communities featuring over 7,000 buildings equipped with smart controls, sensors, and analytics to enhance energy efficiency, reduce costs, and minimize emissions. Consequently, the proliferation of smart buildings and smart cities is a key driver for the stucco market's growth.

The ongoing trend of urbanization is expected to propel the stucco market forward. Urbanization, characterized by the transformation of rural areas into urban centers due to economic development and industrialization, sees extensive use of stucco as an exterior treatment in regions experiencing high construction activity and dense populations. According to the World Bank Group's report in April 2023, over half of the global population currently resides in urban areas, a figure projected to increase to 6 billion by 2045, marking a 1.5-fold surge. Therefore, the escalating urbanization trend is a significant factor driving the stucco market.

Leading companies in the stucco market are introducing innovative collections such as Kraftizen to enhance the efficiency of low-voltage solar PV systems. Kraftizen, a collection offered by Cosentino Group, a Spain-based company specializing in innovative and sustainable surfaces, introduces a large-format stucco material that seamlessly blends traditional craftsmanship aesthetics with advanced surface technology. Launched in October 2022, Kraftizen represents a digital reinterpretation of traditional craftsmanship, capturing each trowel stroke to create a carbon-neutral surface suitable for both indoor and outdoor applications. The collection offers five versatile colors, including Umber, Nacre, Argentium, Micron, and Albarium.

Major players in the stucco market are diversifying their offerings by introducing new designs featuring concrete-inspired décor products. Concrete-inspired décor with a Stucco finish involves incorporating the look and texture of concrete, specifically the smooth and rustic appearance of stucco, into interior or exterior designs. In May 2021, Sonae Arauco, a UK-based company specializing in wood-based solutions, launched three new décors, Elmina, Sanctuary, and Castle Grey, under its Innovus brand in South Africa. Elmina features a concrete-inspired décor with a Stucco finish, while Castle Grey offers a smooth solid color in various finishes, and Sanctuary presents a rustic woodgrain décor. These décors, designed to align with contemporary lifestyles, provide diverse design choices for consumers.

In September 2022, Clarkwestern Dietrich Building Systems LLC, a US-based manufacturer of accessories, interior and exterior finishing goods, and cold-formed steel framing products, completed the acquisition of Structa Wire Corp for an undisclosed amount. This strategic move enhances Clarkdietrich's existing range of solutions for stucco wall applications, providing added value to its customers. Structa Wire Corp is a US-based manufacturer specializing in high-performance welded wire products.

Major companies operating in the stucco market include 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

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 regions covered in the global stucco market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the stucco market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The stucco market consists of sales of stucco finishes such as dash finish, sand finish and cat face finish. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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