Global Stucco Market Size, Share, Trend, Forecast, Competitive Analysis & Growth Opportunity: 2024-2030

The Global Stucco Market is likely to grow at a decent CAGR of 3.4% in the long run to reach US$ 14.6 Billion in 2030.

Increasing construction activities, particularly in the residential sector, coupled with rising renovation and remodeling projects, are expected to boost demand for stucco materials. Additionally, the growing emphasis on energy efficiency and sustainability in building construction is likely to fuel the adoption of stucco as an eco-friendly exterior finish.

COVID-19 Impact

The stucco market felt the reverberations of the COVID-19 pandemic, experiencing disruptions across production, supply chains, and construction activities. With lockdown measures and economic uncertainties, construction activities were reduced, leading to decreased orders for stucco materials. The industry confronted unparalleled hurdles, adapting to new safety protocols and market fluctuations amidst these challenging times, and bounced back quickly on its feet.

Recent Market JVs and Acquisitions

The market is quite fragmented with several local and regional players grabbing bits and pieces of the market share, so the major players are striving to consolidate the market by performing M&As to streamline stucco production and distribution. Some of the key strategic alliances performed over the past few years:

• In May 2023, Sika expanded its construction industry product portfolio by acquiring MBCC (the former BASF construction chemicals business).
• In May 2022, Holcim acquired PRB, France's biggest independent manufacturer of specialty building solutions, and expanded its solutions & products business.
• In January 2022, Holcim expanded its specialty systems portfolio in Europe by acquiring PTB-Compaktuna.
• In August 2021, Sika acquired Bexel Internacional strengthening its position in the large and fast-growing Mexican mortar market and significantly extending its manufacturing footprint.
• In May 2019, Sika acquired Parex, expanding its product portfolio for building finishing and reinforcing its position as a world leader in construction chemicals.

Cement is expected to remain dominant whereas admixture & plasticizers will be the fastest-growing materials in the market during the forecast period

In terms of material, the stucco market is segmented into cement, aggregates, admixtures & plasticizers, and others. Cement is expected to remain dominant whereas admixtures & plasticizers will be the fastest-growing material type in the market during the forecast period. Cement is known for its ability to withstand harsh weather conditions, including extreme temperatures and precipitation, providing long-lasting protection for structures. Admixtures on the other hand offer specific advantages, such as improved insulation and potential cost-effectiveness.

Insulated stucco is expected to remain the leading and faster-growing product in the market during the forecast period

In terms of product, the market is segmented into traditional and insulated. Insulated stucco is expected to remain the leading and fastest-growing product type in the market during the forecast period. Insulated stucco is a comparatively better energy-efficient option that helps keep the air cooler in the summer and heats the air in the winter, making it popular in the construction of energy-efficient buildings. It allows for the incorporation of additional design elements such as keystones, cornerstones, or other decorative accents on the exterior.

Concrete is projected to maintain a share of over 50% throughout the forecast period

In terms of base, the market is segmented into concrete, masonry, and others. Concrete is projected to maintain a share of over 50% throughout the forecast period. Concrete bases are highly durable, weather-resistant, and on top of it cost-effective. All these properties ensure a longer lifespan for the stucco, making it resistant to cracks, impact, and weathering.

Residential market is expected to be the bigger demand generator for stucco during the forecast period

In terms of application, the market is segmented into residential and commercial. The residential market is expected to be the bigger demand generator for stucco during the forecast period. Stucco has become one of the most common exterior materials for new single-family homes in the past few years. The single-family home market is an important and dominant market for stucco cladding. In commercial applications, stucco is primarily employed in government institutions, office buildings, and architectural buildings.

North America is estimated to take the lion’s share whereas Asia-Pacific is likely to remain the fastest-growing market during the forecast period

In terms of region, North America is estimated to take the lion’s share whereas Asia-Pacific is likely to remain the fastest-growing market during the forecast period. The growth of the North American market is driven by the presence of many regional players and the growing demand for stucco in the USA and Canada. On the other hand, the rapid growth of emerging economies in the Asia-Pacific (India) is propelling the region's status as the fastest-growing market.

Key Players

The market is highly fragmented with the presence of over 200 players across the region. Most of them are working with industry stakeholders to develop innovative products (stucco with integrated insulation, and stucco panels) that meet the market requirements.

The following are the key players in the stucco market (based on dominance):

• Sika AG
• Dryvit Systems, Inc.
• Saint-Gobain S.A
• Sto SE & Co. KGaA
• CEMEX S.A.B. DE C.V.
• Holcim Limited
• Mapei, S.p.A.
• Omega Products International
• Boral Limited
• Knauf Group