New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Stucco Global Market Report 2023" - https://www.reportlinker.com/p06310823/?utm_source=GNW
The global stucco market grew from $11.96 billion in 2022 to $12.79 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The stucco market is expected to grow to $15.89 billion in 2027 at a CAGR of 5.6%.
The stucco market consists of sales of stucco finishes such as dash finish, sand finish and cat face finish.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The stucco is used as a decorative coating for walls and ceilings, as well as exterior walls.It is a building material composed of aggregates, a binder, and water.
Stucco is applied in a liquid state and solidifies to a solid once dry.It is tough, long lasting, and fireproof.
It is utilized in architecture as a decorative coating for walls and ceilings, as external walls, and as a sculptural and aesthetic material.
Asia-Pacific was the largest region in the stucco market in 2022.Asia-Pacific is expected to be the fastest-growing region in the market.
The regions covered in the stucco market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of stucco are traditional and insulated.Traditional stucco material are made from cement, lime, and coarse sand.
It’s a durable material that has good resistance to the elements.The different base types include concrete, masonry, tile, and others, and involve various materials such as cement, aggregates, admixture, plasticizers, reinforcement, bonding agent, and others.
It is employed in residential and non-residential applications.
The rapid growth of smart buildings is expected to propel the growth of the stucco market going forward.A smart building is any structure that uses automated processes to automatically control the building’s operations, which include sensors, actuators, and microchips, to collect data and manage.
Stucco technology is widely used in smart building construction because it is so durable, and it is relatively inexpensive.For instance, according to the US Department of Energy report, in October 2021 the US government invested $61 million in the development of smart buildings.
This project includes ten connected communities containing more than 7,000 buildings with smart controls, sensors, and analytics to reduce energy use, cost, and emissions. Therefore, the rise of smart buildings and smart cities is driving the stucco market.
The use of mortar spraying machines is a key trend gaining popularity in the stucco market.Major companies operating in the stucco sector are focused on developing new technological solutions such as stucco spraying machines to strengthen their position.
For instance, in 2020, Hunan Gaohua New Materials Technology Co. Ltd., a China-based company that manufactures construction equipment and stucco sprayers, launched its new product, stucco tool mortar cement plastering machine model GH. It is a lightweight machine with a high spraying capacity. The company launched this machine with four modes with a production capacity of 10,000/year. By using this, an even coat of stucco can be applied all over the walls, and can easily do the stuccowork in less time and with a smaller workforce.
In September 2022, Clarkwestern Dietrich Building Systems LLC, a US-based manufacturer of accessories, interior and exterior finishing goods, and cold-formed steel framing products, acquired Structa Wire Corp for an undisclosed amount.With this acquisition, Structa Wire’s high-performance products enhance Clarkdietrich’s current line of solutions for stucco wall applications, providing great value to its customers.
Structa Wire Corp is a US-based high-performance welded wire product manufacturer.
The countries covered in the stucco market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The stucco market research report is one of a series of new reports that provides stucco market statistics, including stucco industry global market size, regional shares, competitors with a stucco market share, detailed stucco market segments, market trends and opportunities, and any further data you may need to thrive in the stucco industry. This stucco market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06310823/?utm_source=GNW
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