Stucco market garnered $10.7 billion in 2018 and is anticipated to hit $15.3 billion by 2026, growing at a CAGR of 4.5% from 2019 to 2026
OREGON, PORTLAND, UNITED STATES, August 13, 2022 /EINPresswire.com/ — As per the report published by Allied Market Research, the global stucco market garnered $10.7 billion in 2018 and is anticipated to hit $15.3 billion by 2026, growing at a CAGR of 4.5% from 2019 to 2026.
High purchasing power of end-users and development of the global construction industry boosted the growth of the stucco market. On the contrary, low consumer awareness toward the availability of stucco hinders the market. However, increase in demand from emerging economies would open new opportunities in the coming years.
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The global stucco market report includes an in-depth analysis of the major market players such as BASF SE, RPM International Inc., Mapei S.p.A., General Electric (GE), Heidelberg, CEMEX S.A.B. de C.V., Sika AG, Fosroc International Ltd., and GCP Applied Technologies Inc.
The global stucco industry is segmented into construction activity, product, insulation type, end use, and geography. Based on construction activity, the market categorized into new and renovation construction. On the basis of product, the market is bifurcated into traditional three-coat stucco, exterior insulating & finish systems, and newer-one coat stucco.
Based on insulation type, the market is segmented into insulated siding and non-insulated siding. The non-insulated siding segment is projected to portray the fastest CAGR of 5.4% during the study period. However, the insulated siding segment held the largest share in 2019, accounting for more than two-thirds of the market.
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On the basis of end use, the market is segmented into residential and nonresidential. The residential segment dominated the market in 2019, accounting for more than four-fifths of the total revenue. However, the non-residential segment is estimated to portray the fastest CAGR of 6.1% through 2026.
The global stucco market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America accounted for more than one-fourth of the market. On the other hand, the Asia-Pacific region is expected to portray the fastest CAGR of 5.3% during the forecast period. Furthermore, the market across the region held the largest share in 2019, contributing more than two-fifths of the market.
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