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The aluminum composite panels market size is estimated to increase by USD 2.45 billion and grow at a CAGR of 6.87% between 2022 and 2027. The growth of the market depends on factors such as the increasing use of lightweight materials in various end-user industries, stringent regulations for environmental protection, and strong demand for hoardings from the advertising industry. Manufacturers seek materials that balance weight reduction with the necessary durability for applications in automobiles, aircraft, and construction. Sectors like aerospace and automotive are embracing lightweight materials to enhance energy efficiency by reducing the overall weight of their products. Aluminum holds particular significance in the automotive industry because of its low density, enabling significant reductions in vehicle weight. The integration of aluminum in automotive components can result in weight reductions of up to 24%.
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This market report extensively covers market segmentation by type (fire-resistant, antibacterial, and antistatic), end-user (building and construction, transportation, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The first-resistant segment is estimated to witness significant growth during the forecast period. Fire safety is a major concern globally to avoid any work-related injury. Fire-resistant (FR) ACP Sheets are manufactured using state-of-the-art ACP production lines equipped with the most advanced technology. The demand for fireproof building materials is increasing due to the rising risk of fire hazards.
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The first-resistant segment was the largest segment and was valued at USD 2.21 billion in 2017. There are strict regulations regarding the use of fire-safe materials in the construction of homes and buildings around the world. FR ACP materials play an increasingly important role in modern construction. As skyscrapers rise into the sky in cities around the world, the use of fireproof materials opens up new opportunities. Hence, it is expected to drive the growth of the fireproof segment in the global aluminum composite panel market during the forecast period.
Based on the end-user, the building and construction segment holds the largest market share. They are widely used in construction applications as it is lightweight, have high tensile strength, and are durable and resistant to corrosion and rust. Various parts of buildings, including the roofing, windows and doorframes, staircase railings, air conditioning systems, and heating systems, use aluminum. The rapid growth of the global construction sector is expected to boost the growth of the global market during the forecast period.
APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Top construction projects are emerging in APAC countries, such as China, India, Japan, Indonesia, and Thailand. The two most populous countries in the world, China and India, are investing significantly in infrastructure development. Hence, increasing investments in the construction industry are likely to boost the demand for aluminum thereby driving the growth of the regional aluminum composite panel market.
Furthermore, the auto industry in India, Japan, and China is growing faster than in other countries, driven by improved sales and higher disposable income, a growing middle-class population, and a growing middle-class population. increasing and the standard of living is improving. The Chinese government is focusing on reducing pollution levels and forcing automakers to produce light vehicles that emit less carbon dioxide. They contribute to the production of light vehicles. Therefore, demand for ACP is expected to increase during the forecast period.
ACPs are made up of two thin sheets of aluminum that are glued together to form a core made of plastic. The aluminum and the plastic core form a sandwich together, which is why they are called aluminum composite panels.
Increasing use of lightweight materials in various end-user industries is the key driver for the growth of the market. Manufacturers are looking for materials that meet their goals of reducing weight without compromising the required durability of cars, airplanes, and building structures. Industries such as aerospace and automotive are adopting lightweight materials to reduce the overall weight of aircraft and vehicles to ensure energy efficiency. One of the main reasons aluminum is so important in the automotive industry is its low density, which helps to reduce the average weight of the vehicle. Aluminum in auto parts reduces weight by up to 24%.
Besides, aluminum is also increasingly used in the aerospace industry as it no longer uses steel and iron. Modern commercial airframes are made of 80% aluminum. Aluminum is also used in spacecraft because it is light and can withstand the pressures of launching and operating in space. The NASA Orion MPCV (Multi-Purpose Crew Vehicle) has a main structure made of an aluminum-lithium alloy. Such USAge will drive the growth of the market during the forecast period.
Increasing development of green buildings is the primary trend in the global market. Green buildings use environmentally friendly and resource-efficient materials and processes throughout their life cycle, including design, construction, operation, maintenance, renovation, and demolition. Aluminum is widely used in green buildings because it is a durable and energy-efficient building material.
Furthermore, the Certification of Leadership in Energy and Environmental Design (LEED) is one of the most widely used green building rating systems in the world, which promotes the use of aluminum in building construction to achieve LEED eco-friendly building status. Various properties of aluminum that promote its use in green buildings include strength-to-weight ratio, good sunlight reflectivity, and recyclability. These benefits are expected to drive the use of aluminum in the construction industry, which is expected to fuel the growth of the global aluminum composite panel market during the forecast period.
High volatility in LME prices of aluminum is a challenge that affects the growth of the market. The price of primary aluminum depends on three factors, including the underlying base metal composition, the regional premium, and the product premium. The price on the LME depends largely on macroeconomic factors, the supply and demand of this metal, and the trading activities of investors. Any change in these factors can lead to a change in market prices.
In addition, high inventories at the LME or the exchange of a significant volume of the metal in the market can lead to lower aluminum prices. Fluctuations in prices on LME translate into fluctuations in purchase fees (regional fees and product fees) charged on billet (raw material) and affect sales. As a result, volatility in LME aluminum prices is hindering the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Sundow Polymers Co. Ltd.: The company offers aluminum composite panels which include impact modifier in rigid PVC.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Alcoa Corp., Alexia Panels Pvt. Ltd., Alstrong Enterprises India Pvt Ltd., Aludecor Lamination Pvt. Ltd., Alumax Panel Inc., Arconic Corp., Euro Panel Products Ltd., Fairfield Metal, Hyundai Alcomax Co. Ltd. , Jyi Shyang Industrial Co. Ltd., Mitsubishi Chemical Group Corp., MSENCO METAL CO. LTD, Mulkholdings International, ReynoArch India, Schweiter Technologies AG, Shanghai Huayuan New Composite Materials Co. Ltd., Sundow Polymers Co. Ltd., Viva Composite Panel Pvt. Ltd, Wonder Alu Board, and zq steel group Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The Market is witnessing robust growth, driven by the increasing demand for non-toxic and lightweight building materials across various industries. ACPs, featuring a non-toxic polyethylene (PE) core and thermally bonded aluminum skins, offer exceptional stiffness, surface flatness, and wear resistance. These panels find extensive use in outdoor facades, cladding, vehicle body paneling, billboards, and outdoor advertising due to their flexibility, high load performance, and ease of assembly.
Moreover, with advancements in coil-coated sheets and PVDF-based ACPs, the market is witnessing a surge in demand for eco-friendly and high-performance panels. The adoption of ACP technology is further bolstered by its thermal and acoustic insulation properties, corrosion resistance, and compliance with fire safety regulations. As emerging economies invest in infrastructure development and the transportation sector, ACPs are increasingly utilized in fast trains, metros, shopping malls, and bus and train stations. With standardized installation practices and optimal fire, weather, and chemical resistance, ACPs are poised to play a pivotal role in the contemporary construction business and outdoor advertising sector.
The Market is witnessing robust growth driven by their versatile applications across various industries. ACPs are extensively used for outside facades or cladding, letter backing, channels, outdoor signs, and as air and water barriers in automobiles. With increasing emphasis on Corporate Average Fuel Efficiency (CAFE) and federal proposals for lightweight building materials, ACPs are gaining traction due to their lightweight properties and thermal insulation capabilities. PVDF-based ACPs offer superior durability and weather resistance, making them ideal for facade materials in green structures. Moreover, advancements in aluminum alloy sheets and lifting technologies are enhancing vertical lifting capabilities, further expanding the market's scope in construction, transportation, and out-of-home advertising sectors. As the industry embraces eco-friendly features and transitions towards transitional building and energy standards, ACP technology continues to evolve to meet the demands of modern building needs, offering optimal fire, weather, and chemical resistance alongside decorative and cladding applications.
Aluminum Composite Panels Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.87% |
Market growth 2023-2027 |
USD 2.45 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.57 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alcoa Corp., Alexia Panels Pvt. Ltd., Alstrong Enterprises India Pvt Ltd., Aludecor Lamination Pvt. Ltd., Alumax Panel Inc., Arconic Corp., Euro Panel Products Ltd., Fairfield Metal, Hyundai Alcomax Co. Ltd. , Jyi Shyang Industrial Co. Ltd., Mitsubishi Chemical Group Corp., MSENCO METAL CO. LTD, Mulkholdings International, ReynoArch India, Schweiter Technologies AG, Shanghai Huayuan New Composite Materials Co. Ltd., Sundow Polymers Co. Ltd., Viva Composite Panel Pvt. Ltd, Wonder Alu Board, and zq steel group Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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