The global stucco market was valued at USD 10.7 billion in 2020, and is projected to reach USD 15.3 billion by 2027, growing at a CAGR of 4.5 % from 2020 to 2027.The stucco market has witnessed significant growth owing to factors such as the development of the global construction industry coupled high purchasing power of end-users developed and emerging regions such as Europe and the Asia Pacific. Moreover, an increase in demand from emerging economies provides a huge market opportunity for the key players operating in the stucco market. However, low consumer awareness toward the availability of stucco is projected to hamper the overall growth of the stucco market.
Stucco is a traditional Portland cement plaster and has been in use since long as a time-tested exterior finish. The main ingredients in the stucco plaster are Portland cement-based materials along with sand. These materials are then mixed with water to form a paste or a plaster which is then applied to the exterior of buildings. It is the desirable properties of the Portland cement, which is the preferred modern building material used for the construction of highways, buildings and skyscrapers, which imparts durability and toughness to the stucco plaster.
Stucco plaster can be used on either flat or curved surfaces, inside or outside of any building. Stucco plaster is extremely popular since it imparts a great surface finish, has a relatively low cost and requires less amount of maintenance. The other desirable properties of stucco are that in its hardened state, such kind of plaster is hand, resistant to fire, strong and retains the colour given to it. Another important property of stucco plaster is that since it is breathable or is able to transfer moisture, water that enters the plastered surface doesn’t become trapped.
Due to it, the plaster becomes resistant to fungus and rot and can be used in all kinds of climate, wet, hot, dry or cold. It is because of such favourable factors that market for stucco is growing steadily all over the world, and especially in the North America region.
The key players operation in the global stucco market includes BASF SE, RPM International Inc., Sika AG, Fosroc International Ltd., MapeiS.p.A., GCP Applied Technologies Inc., General Electric (GE), CEMEX S.A.B. de C.V., and Heidelberg.
The Asia Pacific region is projected to lead the stucco market, in terms of both value and volume, from 2020 to 2024. The development in the construction industry in emerging countries such as India and China is expected to boost the demand for stucco in the market. Furthermore, Asia Pacific is the hub of foreign investment and booming industrial sectors, largely due to the low-cost labor and cheap availability of lands. This, in turn, increases the growth of construction activities, which boosts the demand for stucco in the region.