Outlook on the Global Stucco Market to 2024 - Rise in New Construction Projects in Emerging Economies Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Stucco Market by Material (Cement, Aggregates, Admixture, Plasticizers, Bonding Agent), Type (Traditional, Insulated), Base (Concrete, Masonry, Tile), End-use (Residential & Non-residential), and Region - Global forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The market for stucco is valued at USD 10,522.8 million in 2018 and is projected to reach USD 13,367.2 million by 2024.

The global stucco market has witnessed high growth primarily because of the increasing non-residential construction worldwide. Rapid industrialization and expansion in the emerging economies, coupled with an increasing need for sustainable and energy-efficient building solutions, are contributing to the increasing growth of the stucco market over the next few years. However, the preference of consumers for finished systems over stucco may hinder the growth of the stucco market.

In terms of both value and volume, the insulated segment is projected to grow at a higher CAGR during the forecast period.

The insulated segment, by type, is projected to grow at a higher CAGR during the forecast period, in terms of value and volume. Insulated stucco provides high strength, prolonged durability, and ability to fight moisture to the buildings; also, it requires less maintenance. These factors make stucco an ideal choice in the construction industry.

In terms of both value and volume, the Asia Pacific stucco market is projected to contribute the maximum share during the forecast period.

In terms of value, the Asia Pacific region is projected to lead the stucco market from 2019 to 2024 due to the strong demand from countries such as China, Japan, India, Australia, and South Korea. This demand in these mentioned countries is due to the tremendous growth of the construction opportunities in these countries, due to the low-cost labor and cheap availability of lands. The demand is also driven by the increasing growth of the building & construction industry.

Market Dynamics

Drivers

• Stringent Regulations to Reduce Greenhouse Gas Emission
• Lower Energy Consumption and Operating Costs
• Low Maintenance and Easy Installation

Restraints

• Preference for New Finished Systems
• Extreme Cold Temperatures Not Optimal for Stucco Application

Opportunities

• Rise in New Construction Projects in Emerging Economies
• Product Advancement With the Use of Insulation Foam

Challenges

• Lack of Awareness and Deficit in Skilled Labors

Companies Profiled

• Cemex
• BASF SE
• Sika AG
• Omega Products International
• Dryvit Systems Inc.
• The Quikrete Companies
• STO Group
• California Stucco Products Corp.
• Dupont
• Western Blended Products
• Silpro
• Guangdong Yunyan Special Cement Building Materials Ltd.
• Total Wall Inc.
• Vasari Plaster and Stucco LLC
• Mission Stucco Co.
• Spec Mix LLC
• Gomix Co. Ltd.
• JBR Coatings and Insulations
• Eagle Building Materials
• Isomat S.A.

For more information about this report visit https://www.researchandmarkets.com/r/qltg6q