According to the latest report by IMARC Group, titled "Aluminum Composite Panels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global aluminum composite panels market size reached US$ 5.9 Billion in 2022. Aluminum composite panels (ACP) are flat boards that comprise two thin aluminum sheets that are bonded to a non-aluminum core. The core is manufactured from various materials, such as polyethylene, polyurethane, or mineral-filled core. The aluminum sheets are coated with a protective layer to resist weathering, corrosion, and other external factors, making them suitable for both indoor and outdoor use. They are available in a wide range of colors, finishes, and textures, providing architects and designers with greater flexibility and creative freedom. They offer various advantages, including excellent strength or rigidity to weight ratio, versatility, durability, UV resistance, weather-proof, aesthetic appeal, and better recyclability and reusability. On account of their environment-friendly properties, they are widely used in the construction industry for cladding and insulation purposes in commercial buildings, such as airports, food and beverage shops, and residential premises. They are also adopted in the field of advertising as substitutes for heavier and more expensive substrate options.
Global Aluminum Composite Panels Market Trends:
The growing demand for ACPs in the construction industry is driving the global market. This can be supported by the increasing demand for high-rise buildings, shopping malls, and corporate offices across developing countries. Coupled with this, CPs are also used in the construction of energy-efficient buildings as they provide excellent thermal insulation and reduce energy consumption. Moreover, numerous major companies are introducing ACPs with more sustainable materials, including recycled aluminum and bio-based cores, thereby providing a boost to the market. Additionally, several building owners and designers are using alternative building materials that have a lower environmental impact, such as wood, stone, or brick, which is creating a positive market outlook. Along with this, the widespread utilization of ACPs in the field of advertising and signage for creating attractive and durable signs and displays is significantly supporting the market across the globe. In line with this, these panels are extensively utilized for noise dampening and decorative padding as they are compression-resistant and provide high acoustic insulation, thus augmenting the demand. Furthermore, the development of improved ACPs that are fire-resistant, corrosion-resistant, and weather-resistant is favorably impacting the market. Other factors, including rapid urbanization, rising construction of green buildings, and increasing awareness pertaining to sustainable materials, are projected to propel the market further. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4 % during 2023-2028.
- On the basis of the base coating type, the market has been divided into PVDF (polyvinylidene fluoride), polyester, laminating coating, oxide film, and others.
- Based on the panel type, the market has been segmented into fire-resistant, antibacterial, and antistatic.
- On the basis of the composition, the market has been bifurcated into surface coating, metal skin, core material, and rear skin.
- Based on the application, the market has been classified into construction, automotive, advertising boards, railways, and others.
- On the basis of the region, the market has been segregated into North America (the United States, Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, others), and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 3A Composites (Schweiter Technologies), Alubond U.S.A. (Mulk Holdings Group), Alumax Industrial Co. Ltd., Changshu Kaidi Decoration Material Co. Ltd., Guangzhou Xinghe Aluminum Composite Panel Co. Ltd., Mitsubishi Chemical Corporation, Shanghai Huayuan New Composite Materials Co. Ltd. and Shyang Industrial Co. Ltd.
|Base Year of the Analysis
||Base Coating Type, Panel Type, Composition, Application, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3A Composites (Schweiter Technologies), Alubond U.S.A. (Mulk Holdings Group), Alumax Industrial Co. Ltd., Changshu Kaidi Decoration Material Co. Ltd., Guangzhou Xinghe Aluminum Composite Panel Co. Ltd., Mitsubishi Chemical Corporation, Shanghai Huayuan New Composite Materials Co. Ltd. and Shyang Industrial Co. Ltd.
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