The global stucco market showcases the presence of a highly fragmented and competitive vendor landscape, says Transparency Market Research on the basis of a recently published report. Such an intense competition is mainly due to the existence of innumerable players in the market. With the number of manufacturers expected to increase in the market during the upcoming years, the competition is projected to further intensify. Most businesses are focusing on expanding product portfolio, achieving cost regulations, improving geographical reach, and implementing innovative stucco manufacturing techniques. All of these are prime strategies incorporated by most businesses present in the global stucco market.
Apart from these strategies, players are continuously striving to enhance their position in the market and expand their global footprint with the use of different strategies and tactics. Many players are focusing on carrying out extensive research and development with regards to stucco product manufacturing. Key companies that have been profiled by expert analysts in the global stucco market include Omega Products, Merlex Stucco, California Stucco Products Corporation, Parex Inc., E. I. du Pont, BASF SE, CertainTeed Corporation, Integrated Stucco Inc., LaHabra Stucco and Arcat Inc.
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global stucco marketAccording to expert market analysts, the global stucco market is projected to grow at a healthy CAGR of 4.9% during the forecast period from 2017 to 2026. This growth is foretold to occur with a revenue valuation of US$15,600 mn gained by the end of the forecast period.
Stucco plaster possesses several beneficial properties such as the ability to fight moisture, resistance to vapor, durability, toughness, and many more. These characteristics make it a prime ingredient used in preparation of stucco plaster. Stucco also provides an enhanced aesthetic appearance to buildings and other constructed structures. Owing to these reasons, the ever-growing construction industry is primarily responsible for extensive progress achieved by the global stucco market, Moreover, this material is widely available all across the globe mostly in all regions. Stucco plaster has witnessed a high demand since ages, and it also is available at a decently low cost, along with requiring less maintenance. Such a long-lived popularity is massively driving the global stucco market to register an impressive growth. Moreover, with growing population, an increasing need for constructions is occurring. And as stucco plaster plays an important role in most construction projects, the relevant market is expected to expand with leaps and bounds in the next few years.
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However, the global stucco market is restrained owing to fluctuation of raw materials required to manufacture the finished stucco product in underdeveloped and certain developing economies. Due to this reason, procurement of individual components has become largely difficult, thus discouraging companies from undertaking construction in such regions. In some economies, very low profit margins exist in the production of stucco plaster. This is mainly due to the required raw materials being highly expensive. Moreover, this expense mostly passes on to the customers in the form of high product costs. However, several businesses are expected to introduce cost-regulated stucco varieties, thus offsetting most restraints affecting the global stucco market.
The information presented in this review is based on a Transparency Market Research report, titled, “Stucco Market – (Product Type- Traditional Three-Coat Stucco, Newer One-Coat Stucco, Exterior Insulating and Finish Systems; Insulation Type- Insulated Siding, Non-Insulated Siding; Application- Residential Buildings, Non-residential Buildings; Construction Activity- New Construction, Renovation) – Global Industry Analysis, Size, Growth, Trends, Share and Forecast 2017 – 2026.”
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