Aluminum Composite Panel Market Outlook 2031
The aluminum composite panel market size was valued at USD 8.80 Billion in 2022 and is likely reach to USD 16.04 Billion by 2031, expanding at a CAGR of 6.9% during the forecast period, 2023–2031. The growth of the market is attributed to the expanding application scope of lightweight aluminum composite panels in the building sector for insulation.
A flat panel made of two aluminum alloy sheets joined with a non-aluminum core to form a composite is known as an aluminum composite panel (ACP). It's utilized as a building cladding or façade material, insulation, and signs.
Furthermore, ACPs have several uses in the automobile sector, including body paneling. Low-density infill, mostly polyethene and other materials, are used to make aluminum composite panels, which are available in thicknesses ranging from 3 to 6mm. Because of their unique color options, aluminum composite panels are ideal for attractive and modern interior designs.
According to Global Construction Perspectives and Oxford Economics' global construction 2030 research, the global construction sector is predicted to exceed USD 8 trillion by 2030. Factory, industrial facility, stadium, and office construction has grown. This would have a direct impact on the requirement for long-term aesthetic building construction solutions in these structures.
Aluminum Composite Panel Market Trends, Drivers, Restraints, and Opportunities
- Growing activities in the commercial and industrial areas are expected to drive market growth during the forecast period.
- Increasing demand from end-use industries is expected to drive market expansion in the coming years.
- Rising popularity of anti-toxic and antibacterial panels, along with advantages of aluminum composite panels, such as durability and decreased sound transmission; protect the surface from UV light, heavy rain, wind, humidity, and hazardous germs and microorganisms are projected to fuel market growth in the coming years.
- Availability of less expensive alternatives is estimated to hinder the market growth.
- R&D investments and technological advancements in hotels are anticipated to create lucrative opportunities for the market players.
Scope of Aluminum Composite Panel Market Report
The report on the aluminum composite panel market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Aluminum Composite Panel Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Top-Coatings (PE [Polyester], PVDF [Polyvinylidene Fluoride], and Other Top Coatings) and End-user Industries (Building and Construction, Transportation, and Other End-user Industries)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3A Composites GmbH, Jyi Shyang Industrial Co., Ltd., Arconic Inc., Alstrong Enterprises India (Pvt) Ltd, and Alubond U.S.A.
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Aluminum Composite Panel Market Segment Insights
PVDF segment is projected to account for a large market share
In terms of top-coatings, the aluminum composite panel market is segmented into PE [Polyester], PVDF [Polyvinylidene Fluoride], and Other Top Coatings. The PVDF segment is expected to account for a key share of the market during the forecast period owing to their characteristics, such as corrosion and wear resistance, as well as their durability.
On the other hand, the PE segment is anticipated to expand at a rapid pace during the forecast period owing to qualities such as exceptional stiffness, surface flatness, smoothness, and thermal and acoustic insulation.
Building and construction segment is anticipated to register at a rapid CAGR
On the basis of end-user industries, the aluminum composite panel market is segmented into building and construction, transportation, and other end-user industries. The building and construction segment is expected to account for a key share of the market in the coming years due to the environmentally beneficial features such as green buildings.
Moreover, the benefits of the aluminum composite panel, including thermal and acoustic insulation, as well as corrosion resistance, are likely to drive demand in the current building segment. In addition, increased product use in ornamental and cladding applications to fulfil transitional energy and building regulations is expected to boost segment growth in the coming years.
Aluminum Composite Panel Market Regional Outlook
Asia Pacific is estimated to dominate the market
On the basis of regions, the aluminum composite panel market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the rapidly expanding construction sector, particularly in emerging economies such as China, India, Indonesia, and Vietnam.
The region's expansion is also fueled by a growing population, as well as government programmes that promote basic amenities and significant demand for inexpensive housing. On the other hand, the market of North America is expected to exhibit a rapid growth rate in the coming years owing to being aided by an increase in government programmes and efforts aimed at improving infrastructure.
Segments
Top-Coatings
- PE [Polyester]
- PVDF [Polyvinylidene Fluoride]
- Other Top Coatings
End-User Industries
- Building and Construction
- Transportation
- Other End-user Industries
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the aluminum composite panel market include 3A Composites GmbH, Jyi Shyang Industrial Co., Ltd., Arconic Inc., Alstrong Enterprises India (Pvt) Ltd, and Alubond U.S.A.
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