Global Stucco Market Share, Size, Trends, Industry Analysis Report: Information By Product Type (Traditional Three-Coat, Newer One-Coat, and Exterior Insulating & Finish Systems), By Insulation Type, By End-User, And By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM4269
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Global Stucco Market Size was valued at USD 11.65 Billion in 2023. The Stucco Industry is projected to grow from USD 12.13 Billion in 2024 to USD 17.04 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.3% during the forecast period (2024 - 2032). The Stucco Market growth is driven by the increasing demand for durable exterior finishes and rising adoption and usage rate of Stucco. As property owners and developers are seeking long-lasting solutions for building exteriors, Stucco has emerged as a preferred choice due to its robustness and ability to withstand harsh weather conditions. Stucco is known for its durability and stability against wind, rain, and temperature fluctuations, making it ideal for various climates. Also, Stucco is resistant to fire and pests, further enhancing its adoption as a reliable exterior finish.
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Furthermore, the increasing adoption and usage rate of stucco is among another driving factors for the stucco industry growth, reflecting a growing preference for the material in various construction projects. Stucco is increasingly adopted for its cost-effectiveness, ease of application, and long-term performance, making it a popular choice among builders, architects, and homeowners. For instance, in 2022, the most common principal siding material used in new single-family homes was stucco (28%), followed by vinyl siding (26%), fiber cement siding (21%), and brick or brick veneer (18%), according to the Census Bureau's Survey of Construction (SOC) report. Stucco was particularly prevalent in the Pacific, Mountain, and South Atlantic divisions, with usage rates of 64%, 53%, and 41%, respectively, as the primary exterior wall material. Thus, the increasing usage and adoption of stucco is expected to drive the market growth over the assessment period.
Stucco Market Trends:
Increasing Innovative Product Launches Are Fueling The Stucco Market Growth
Market CAGR for Stucco is driven by the increasing innovative product launches within the industry. In the Stucco Market outlook, the manufacturers are continuously developing new formulations and application techniques that improve the durability, aesthetic variety, and energy efficiency of stucco. Innovations such as enhanced acrylic-based stucco, which offers better flexibility and resistance to cracking, and integrated insulation systems that boost thermal efficiency are attracting a wider range of applications in both residential and commercial construction. For instance, in March 2024, LP BUILDING SOLUTIONS (LP) introduced the LP SmartSide Pebbled Stucco Panel Siding, an advanced addition to its lineup of engineered wood products known for their resilience and flexibility. Accordingly, such product advancements help in meeting the evolving needs of the market and promote interest and adoption among architects, builders, and homeowners, driving the overall expansion of the Stucco Market.
Growing Construction Activities Worldwide Is Expected To Bolster The Stucco Market Size
Growing construction activities worldwide are expected to bolster the Stucco Industry size by significantly increasing the demand for durable and versatile exterior finishes. As urbanization accelerates and infrastructure development expands, there is a surge in both residential and commercial building projects globally. According to the U.S. Census Bureau, in April 2024, construction spending was estimated at $2,099.0 billion, marking a 10.0 percent (±1.5 percent) increase compared to the April 2023 estimate of $1,907.8 billion. This construction boom necessitates materials that provide longevity and cost-effectiveness, making stucco a definitive option. Stucco's adaptability to various architectural styles and its capability to withstand various climatic conditions make it a preferred material for new constructions and renovations alike. As reliance on durable and efficient building materials like stucco is rising, the Stucco industry size is expected to grow substantially.
Growth In Renovation And Remodeling Activities Are Driving The Stucco Market Growth
The growth in renovation and remodeling activities is a significant driving factor for the market, as projects often require reliable and aesthetically pleasing exterior finishes. Homeowners and property managers are increasingly investing in renovations to update and enhance the appearance and functionality of older buildings. Stucco's versatility makes it an ideal choice for such improvements. According to the Harvard Joint Center for Housing Studies, in 2020 and 2021, the housing market experienced remarkable growth, surpassing the projected increase for the same period. American expenditure on home improvements, renovations, and repairs reached $363 billion in 2020 and $406 billion in 2021, representing an 11.8% escalation from 2020 and nearly three times the average annual growth rate of 4.4%. By 2022, homeowners' spending had further increased to $472 billion, signaling a significant upward trend. As the renovation and remodeling sector continues to expand with increasing investments, the demand for Stucco is expected to rise, fueling the market growth.
Stucco Market Segment Insights:
Stucco Product Type Insights:
The global stucco market segmentation, based on product type includes traditional three-coat, newer one-coat, and exterior insulating & finish systems. The traditional three-coat segment held the largest market share in 2023 in the Stucco Market due to its superior durability, versatility, and long-lasting performance. This method involves a scratch coat, a brown coat, and a finish coat and provides a robust and resilient exterior finish that withstands diverse weather conditions, making it highly preferred in both residential and commercial construction.
Furthermore, the increasing number of fire accidents and related fatalities in 2023 has significantly driven the dominance of the traditional three-coat segment in the global market due to its superior fire-resistant properties. According to the U.S. Fire Administration report, in 2021, the fire death rate in the U.S. was 13.0 deaths per million population, which marked a 14% increase from the 2020 rate of 11.4 deaths per million population. This increased death toll has created the need for efficient building solutions that can be used against fire. As fire safety regulations have become stricter worldwide, builders and homeowners are increasingly opting for the traditional three-coat stucco for its proven ability to meet these stringent standards. The enhanced fire protection provided by this system helps safeguard lives and property. Therefore, the growing benefits and emphasis on fire safety and prevention have resulted in the dominance of the three-coat stucco segment in the global Stucco Market.
Stucco End-User Insights:
The global market segmentation, based on end-user, includes residential and non-residential. The non-residential segment of the Stucco Market is expected to grow significantly over the forecast period due to the increasing construction of buildings worldwide. As urbanization accelerates and economies expand, there is a surge in the construction of offices, retail spaces, educational institutions, healthcare facilities, and industrial buildings, all of which require reliable building materials. According to the Stats NZ Tatauranga Aotearoa, in New Zealand, the value of building work totaled $37 billion in the year ended December 2023, reflecting a 7.1 percent increase from the previous year. As stucco provides an attractive finish with the ability to withstand harsh environmental conditions, it has gained an immense focus on the non-residential construction sector. Thus, the non-residential segment is expected to experience a significant boost over the assessment period.
Global Stucco Market, Segmental Coverage, 2019 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, PMR Database and Analyst Review
Stucco Regional Insights:
By region, the study provides the Stucco Market insights into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The North American stucco market dominated the globe due to the robust construction industry and stringent building codes, including the International Building Code (IBC), International Residential Code (IRC), and International Green Construction Code (IgCC), which emphasizes durability and energy efficiency. The widespread preference for stucco in the region is also influenced by its suitability for diverse architectural techniques and its excellent performance in changing weather conditions, which are typical in many parts of North America. These factors collectively have established North America as the dominating region in the global Stucco Industry.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, and Others.
Global Stucco Market Share, Regional Coverage, 2019 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, PMR Database and Analyst Review
Asia Pacific Stucco market is anticipated to grow at a significant CAGR owing to the growth in the number of construction activities across various emerging markets. Also, the substantial increase in the income of the middle class has allowed them to spend more on house development and renovation projects, which often require stucco as an important material.
Chinese stucco market is experiencing heightened demand for durable, cost-effective, and attractive building materials. A surge in demand is largely driven by the government's infrastructure development plans, which include the construction of new cities, residential complexes, and commercial buildings. Moreover, in Indian stucco market, there is a growing awareness and adoption of sustainable building practices further influencing the industrial trends in the stucco market. Additionally, Stucco is valued for its energy-efficient properties and ability to provide thermal insulation, which is crucial in the country's diverse climate zones. Thus, all these factors contributes to the significant growth of the market in the Asia Pacific region.
Stucco Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their offerings, which will help the Stucco Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including innovative product launches, international collaborations, higher investments, and mergers and acquisitions between organizations. To expand and survive in a more competitive and rising market climate, Stucco industry must offer cost-effective solutions.
The market is fragmented, with the participation of numerous global and regional market players. The leading market entities are placing substantial emphasis on a range of business development strategies, such as quality control assurance, product standardization, and enhancement of supply chain management systems. Major players in the Stucco Market, including ARCAT, Inc., BASF, Ca' Pietra, Dryvit, DuPont, GCP, LP Building Solutions, Omega Products International, Parex USA, Inc., Sika AG, SPEC MIX, LLC, TESUQUE STUCCO COMPANY, LLC.
Sika AG is a specialty chemicals company that operates globally. It focuses on developing, producing, and selling systems for bonding, sealing, reinforcing, damping, and protecting in both the building sector and the motor vehicle industry. The company's product range includes tile adhesives, grouts, and systems for under-tile waterproofing and sound reduction. In May 2019, Sika completed the acquisition of Parex Group, a manufacturer of specialty chemicals and ready-to-use mortars for the construction industry, to expand its product portfolio for the building finishing market.
Ca' Pietra is a family-owned business founded in 2009. Its headquarters are in Wiltshire, England, and it specializes in Flagstones, and slabs, Natural Stone Tiles, Retail, Porcelain, Cement tiles, Decorative tiles, Handmade tiles, Interiors, bathroom designs, Textiles, stone, Encaustic, Interior design, Natural stone, Limestone, Flagstones, Wall tiles, Slabs, Floor tiles, and kitchen designs. In April 2024, Ca' Pietra introduced the Stucco Collection, which features a porcelain tile with a plaster-effect finish. This collection offers a cost-effective solution for achieving the look of plaster, with the tiles available in seven warm tones that enhance the surface's velvety appearance.
Key Companies in the Stucco Market include:
- ARCAT, Inc.
- BASF
- Ca' Pietra
- Dryvit
- DuPont
- GCP
- LP Building Solutions
- Omega Products International
- Parex USA, Inc.
- Sika AG
- SPEC MIX, LLC
- TESUQUE STUCCO COMPANY, LLC
Stucco Industry Developments
- May 2023: Albuquerque Stucco announced the launch of a new business, providing expert stucco services throughout Albuquerque (Mexico) and surrounding areas.
- January 2024: FBM acquired Stucco Master Supply, LLC, a distributor of Exterior Insulation and Finish Systems (EIFS) and stone products serving the Dayton-Cincinnati/tri-state area.
- May 2024: RWC Building Products completed the acquisition of New Mexico Plaster and Supply, a supplier of plaster and concrete materials situated in Albuquerque, New Mexico.
Stucco Market Segmentation:
Stucco Product Type Outlook
- Traditional Three-Coat
- Newer One-Coat
- Exterior Insulating & Finish Systems
Stucco Insulation Type Outlook
- Insulated Siding
- Non-insulated Siding
Stucco, End-User Outlook
- Residential
- Non-residential
Stucco Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Stucco Report Scope:
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Report Attributes |
Details |
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Market size value in 2023 |
USD 11.65 billion |
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Market size value in 2024 |
USD 12.13 billion |
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Revenue Forecast in 2032 |
USD 17.04 billion |
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CAGR |
4.3% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments covered |
|
|
Regional scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
FAQ's
The global Stucco Market size was valued at USD 11.65 Billion in 2023.
The global market is projected to grow at a CAGR of 4.3% during the forecast period, 2024-2032
North America had the largest share in the global market
• The key players in the market are ARCAT, Inc., BASF, Ca' Pietra, Dryvit, DuPont, GCP, LP Building Solutions, Omega Products International, Parex USA, Inc., Sika AG, SPEC MIX, LLC, TESUQUE STUCCO COMPANY, LLC.
The traditional three-coat category held the highest share in the market in 2023
The non-residential had the highest CAGR in the global market
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