Aluminum Composite Panels Market Analysis | 2023-2028

Market Insights

The aluminum composite panels market was estimated at USD 6.77 billion in 2022 and is likely to grow at a CAGR of 6.62% during 2023-2028 to reach USD 9.95 billion in 2028.

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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.

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.

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key Players

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

• 3A Composites
• Alubond U.S.A.
• Alumax Industrial
• Arconic
• Shanghai Huayuan New Composite Materials
• Yaret Industrial Group

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

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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.

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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.

Regional Insights

"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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects aluminum composite panels market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

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

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aluminum composite panels market is segmented into the following categories:

By Coating Type

• PE
• PVDF

By Property Type

• Fire-resistant
• Antibacterial
• Anti-static

By Application Type

• Building & Construction
• Advertising
• Transportation

By Composition Type

• Surface Coating
• Core Material
• Metal Skin
• Rear Skin

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

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.