The Future is Bright For Stucco Market

The global Stucco Market size is projected to grow from USD 10.9 billion in 2019 to USD 13.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast year.

Browse 135 market data Tables and 34 Figures spread through 132 Pages and in-depth TOC on "Stucco Market”.

New product developments accounted for the largest share of all the strategic developments that took place in the stucco market between January 2018 and May 2019. One of the key players, namely, The Quikrete Companies (US), adopted this strategy to strengthen its product portfolio and to meet & exceed its customers’ expectations in the stucco market.

BASF SE is one of the leading players in the chemical industry, having a global presence and strong brand recognition. The company offers a wide range of products for different industries. The products offered for stucco are of high quality and conform to ASTM C926 standards. The company also offers many other products related to the construction industry and is being able to provide complete solutions to its customers. Its immense strength in research & development and expertise in construction and specialty chemicals are expected to strengthen its growth in the upcoming years.

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The non-residential segment is estimated to be a larger end-use market in the stucco market in 2019.

The non-residential sector, by end-use, accounted for a larger market size for stucco in 2018, in terms of both value and volume. This dominant market position is attributed to the exponential growth of construction activities globally. With the boost in construction activities, the number of industrial and commercial buildings has also gone up, which has created an opportunity for the application of stucco systems in these buildings.

The Asia Pacific region is projected to account for the largest share in the stucco market during the forecast period.

The Asia Pacific region is projected to lead the stucco market, in terms of both value and volume, from 2019 to 2024. The development in the construction industry in emerging countries such as India and China are 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.

Sika AG (Switzerland), Cemex (Mexico), BASF SE (Germany), Omega Products International (US), and Dryvit Systems Inc. (US) are the key players operating in the stucco market. Acquisitions and new product developments are some of the major strategies adopted by these key players to enhance their positions in the stucco market.

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