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The Global Stucco Market is estimated to grow at a CAGR of 4.5% during the forecast period 2019-2026. The market research study presents that the stucco industry accounted $10.7 billion in the year 2018 and is estimated to reach $15.3 billion by the end of the year 2026.
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Stucco is a type of construction material that consist of aggregates, water and binder. The material is applied in wet form and hardens to a dense solid. Stucco ceilings and walls are prepared with aesthetic coating for artistic and sculptural applications in architecture.
The global stucco market is driven by various growth factors such as growth of industries and growth of urban population. The global construction industry is estimated to represent a significant share in the global economy by the end of the year 2022. As per the market study, the construction industry is estimated to reach $12.7 trillion by 2022. Hence, the growth of the construction activities will support the growth of the global stucco market. Whereas, lack of awareness among end-users related to availability and benefits of stucco will restraint the market growth over the forecast period. On contrary, product development in raw materials of construction sector offers a lucrative market opportunity for the growth of the global stucco industry.
Segmentation Overview of the Global Stucco Market
The report on the global stucco market include the study across various market segments such as construction activity, product, insulation type and end use. These major market segments are further categorized into various market segments to study the market in detail.
The Construction Activity Segment of the Global Stucco Market is Sub-Segmented into:
The Product Segment of the Global Stucco Market is Sub-Segmented into:
The Insulation Type Segment of the Global Stucco Market is Sub-Segmented into:
The End Use Segment of the Global Stucco Market is Sub-Segmented into:
Geographical Overview of the Global Stucco Market
The global stucco market is segmented on the basis of various geographical regions, such as:
As per the regional study, the Asia-Pacific stucco market dominated the global marketplace in the year 2019 and accounted to hold more than 2/5th of the market share in the global stucco market. Also, the APAC stucco market is estimated to grow at fastest CAGR of 5.3% during the forecast period 2019-2026. The regional growth is due to increase in number of populations in the region and growth in demand for improved infrastructure.
Market Competition Insights
CEMEX S.A.B. de C.V., Heidelberg, GCP Applied Technologies Inc., General Electric (GE), Fosroc International Ltd., Mapei S.p.A., RPM International Inc., Sika AG and BASF SE are some major players included in the research study of the global stucco market. The market players are adopting various competitive strategies such as product development, mergers, partnerships, business expansion and others to withhold the large market share in the global stucco market.
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