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  • Aluminum Composite Panels Market Analysis | 2023-2028

    Aluminum Composite Panels Market Analysis | 2023-2028

    Aluminum Composite Panels Market Analysis | 2023-2028
    Report code - SRCG133 Delivery - 2 Weeks
    Aluminum Composite Panels Market Size, Share, Forecast, Industry, and Growth Analysis (202 See more...

    "Aluminum Composite Panels Market is expected to grow from USD 6.77 billion in 2022 to USD 9.95 billion by 2028 at a healthy CAGR of 6.62% during the forecast period of 2023-2028".

    Aluminum Composite Panels Market Size

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    Market Dynamics

    Introduction

    Aluminum composite panels are made of aluminum composite material. They are flat panels comprising two thin-coated aluminum sheets connected to a non-aluminum core. Aluminum composite panels are majorly used for external cladding or facades of buildings, insulation, signage, and making shipping containers.

    Aluminum composite panels are coated with different materials such as PE and PVDF. They are used in different applications such as building & construction, advertising, and transportation.

    Aluminum Composite Panels Market Report Overview

    Market Size in 2028

    USD 9.95 Billion

    Market Size in 2022

    USD 6.77 Billion

    Market Growth (2023-2028)

    6.62%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

     

    Market Drivers 

    The aluminum composite panels (ACPs) market is driven by several factors that contribute to its growth and demand. Below given are a few key drivers:

    • Growing demand from the construction industry – The construction industry plays a vital role in driving the demand for aluminum composite panels. With the growing urbanization, the construction industry is growing which requires high-quality building materials. ACPs are widely used for applications like exterior cladding, roofing, interior decoration, and even more.
    • Lightweight properties of ACPs – The lightweight nature of ACPs allows for easier handling, transportation, and installation which results in cost and time saving for many construction projects. This is one of the reasons why ACPs are becoming the preferred material.
    • Growing sustainability practices – ACPs are known as an environment-friendly choice for construction. They have good thermal insulation properties which aids in reducing energy consumption for heating and cooling purposes. With the growing focus on energy-efficient components, ACPs stand at the top of the list of less-energy-consuming materials.
    • Increasing adoption in the automotive and transportation industry - ACPs are also being used for a variety of applications such as exterior body panels of vehicles, interior rims, truck beds, etc. This is mostly due to its lightweight property, corrosion resistance, and other properties. The growing automotive and transportation sector thereby creates a huge demand for ACPs in the market.

    Aluminum Composite Panels Market Snapshot

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    Segment Analysis

    By Coating Type

    "The PVDF segment held the larger share of the market in 2022"

    The market is segmented as PE and PVDF. The PVDF segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. It helps to protect the exposed parts of any building or other applications from external weather conditions and retains its gloss and color for a longer time.

    By Property Type

     "The fire-resistant segment is expected to remain dominant"

    The market is segmented as fire-resistant, antibacterial, and anti-static. The fire-resistant segment is expected to remain dominant during the forecast period owing to people shifting their preferences to build fireproof buildings.

    By Application Type

    "The building & construction segment leads the market"

    The market is segmented as building & construction, advertising, and transportation. The building & construction segment leads the market owing to the increasing population and growing spending power of people, which are giving rise to the construction of new houses in the urban and suburban areas, globally, and the upsurge in the construction of non-residential buildings and institutes is also a major reason for the dominance of this segment.

    By Composition Type

     "The core material segment is expected to remain the dominant as well as the fastest-growing segment 

    The market is segmented as surface coating, core material, metal skin, and rear skin. The core material segment is expected to remain the dominant as well as the fastest-growing segment during the forecast period. The growth of the segment is driven by its excellent fire-resistant property, for which it is highly preferred in building & construction applications.

    By Region

    "Asia-Pacific is estimated to be the largest as well as the fastest-growing market"

    Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period, with China, Japan, India, and Australia being the major growth engines driven by their increasing per-capita income, extensive growth of the construction industry in the region, and the presence of a large number of aluminum composite panel manufacturers in these countries. The market is mainly driven by the increase in population and the rise in the construction of residential and non-residential buildings. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.

    Aluminum Composite Panels Market by Region

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    key Players

    The following are the key players in the Aluminum Composite Panels Market (arranged alphabetically)

    Note: The above list does not necessarily include all the top players in the market.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides market intelligence most totally. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Aluminum Composite Panels Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    What are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Option

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: 

    Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Aluminum composite panels are made of aluminum composite material. They are flat panels comprising two thin-coated aluminum sheets connected to a non-aluminum core. Aluminum composite panels are majorly used for external cladding or facades of buildings, insulation, signage, and making shipping containers. Aluminum composite panels are coated with different materials such as PE and PVDF. They are used in different applications such as building & construction, advertising, and transportation.

    The aluminum composite panels market is expected to grow from USD 6.77 Bn in 2022 to USD 9.95 Bn by 2028.

    The market is expected to grow at a CAGR of 6.62 % during the forecast period.

    Asia-Pacific is estimated to be the largest as well as fastest-growing aluminum composite panels market during the forecast period.

    Some of the major players in the market are- Arconic, Yaret Industrial Group, 3A Composites, Alubond U.S.A., Alumax Industrial, and Shanghai Huayuan New Composite Materials.

    The aluminum composite panels (ACPs) market is driven by several factors that contribute to its growth and demand. Below given are a few key drivers: 1. Growing demand from the construction industry The construction industry plays a vital role in driving the demand for aluminum composite panels. With the growing urbanization, the construction industry is growing which requires high-quality building materials. ACPs are widely used for applications like exterior cladding, roofing, interior decoration, and even more. 2. Lightweight properties of ACPs The lightweight nature of ACPs allows for easier handling, transportation, and installation which results in cost and time saving for many construction projects. This is one of the reasons why ACPs are becoming the preferred material. 3. Growing sustainability practices ACPs are known as an environment-friendly choice for construction. They have good thermal insulation properties which aids in reducing energy consumption for heating and cooling purposes. With the growing focus on energy-efficient components, ACPs stand at the top of the list of less-energy-consuming materials. 4. Increasing adoption in the automotive and transportation industry - ACPs are also being used for a variety of applications such as exterior body panels of vehicles, interior rims, truck beds, etc. This is mostly due to its lightweight property, corrosion resistance, and other properties. The growing automotive and transportation sector thereby creates a huge demand for ACPs in the market.