USD 5.95 billion
Report ID: SQSG15F2013 | Region: Global | Published Date: August, 2022 | Pages: 157 | Tables: 65 | Figures: 75
Global Aluminum Composite Panels Market size was valued at USD 5.95 billion in 2021 and is poised to grow from USD 6.27 billion in 2022 to USD 9.97 billion by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).
Over the forecast period, the market is expected to grow as more lightweight aluminium composite panels are used for insulation in the building sector. These composite panels offer benefits that are essential for building constructions, such as reduced thickness, increased insulation, and enhanced sealing. ACPs are predicted to have a favourable influence on market growth over the course of the forecast period due to its good air and water barrier, flexibility, high load performance, and durability. By 2025, light-duty vehicles must meet Corporate Average Fuel Efficiency (CAFE) criteria of 54.5 mpg, according to rules laid forth by the US government. Thus, it is anticipated that the federal proposal to raise CAFE regulations will act as a significant catalyst for the use of lightweight materials, such as aluminium composites, in automobiles, ultimately propelling the market.
US Aluminum Composite Panels Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.95 billion
PVDF (Polyvinylidene Fluoride)
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Global Aluminum Composite Panels Market is segmented based on the Coating Type, application, and region. Based on the Coating Type, the market is segmented as PE (Polyester), PVDF (Polyvinylidene Fluoride), and other. Based on Distribution Channel, the aluminum composite panels market is segmented as Building & Construction, Advertising Boards, Automotive, Railways, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Aluminum Composite Panels Market Analysis by Coating Type
Based on the Coating Type, the aluminum composite panels market is bifurcated into PE (Polyester), PVDF (Polyvinylidene Fluoride), and other. The market share that belongs to PVDF is the largest. Due to a variety of uses, such as lightweight construction, high-speed trains, and advertising boards. Additionally, their qualities like durability, corrosion resistance, and wear resistance are anticipated to aid the segment's expansion. Due to qualities like extreme rigidity, flatness of the surface, smoothness, and insulation from both sound and heat, PE panels are also among the most widely used products. Due to advantages like simple fabrication and processing, it is anticipated to experience significant growth in the future.
Aluminum Composite Panels Market Analysis by Application
Based on Application the aluminum composite panels market is segmented into building & construction, advertising boards, automotive, railways and others. The need to install these panels has increased due to the superior toughness, fire resistance, antibacterial, and weather-proof qualities offered by aluminum composite panels, which is driving the demand for them. Architecture is becoming more standardised, which has also increased the need for these panels. The growing building and construction sector is to blame for the increased use of these panels in the Asia Pacific region.
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Asia Pacific is expected to control the aluminum composite panels market share with China, Japan, India, and Australia serving as the main growth engines. These countries' rising per capita incomes, the region's rapidly expanding construction market, and the presence of numerous aluminum composite panel manufacturers in these nations are all contributing to this growth.
The market for aluminum composite panels is primarily driven by population growth and an increase in the number of residential and non-residential structures being built. Low interest rates, strong economic growth, and unmet needs are all contributing to the rapid growth of the North American construction industry. New and renovated civil engineering, non-residential, and residential sectors all contribute to North America’s growth. Business Monitor International (BMI) reports that European construction experienced genuine growth, supported by an uptick in demand, a rise in industry trust, an uptick in supply, and stronger exports. The industry is expected to grow as a result of the region's growing number of green buildings. The expansion of North America is being aided by an increase in governmental programmes and initiatives to foster better infrastructure. In addition, the increase is anticipated to be boosted by the increasing usage of panels in cladding and ornamental applications to meet evolving architectural and energy standards. Increased manufacturing of hybrid and electric cars in North America will also bode well for the market's expansion.
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Aluminum Composite Panels Market Driver
Aluminum Composite Panels Market Restraint
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The Global Aluminum composite panels market is competitive. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Aluminum Composite Panels Market Top Player's Company Profiles
Aluminum Composite Panels Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global aluminum composite panels Market Analysis, in terms of coating type, the PVDF segment held the larger market share due to a variety of uses, such as lightweight construction, high-speed trains, and advertising boards. In terms of application, the buildings & construction segment held the larger aluminum composite panels market share. The need to install these panels has increased due to the superior toughness, fire resistance, antibacterial, and weather-proof qualities offered by aluminum composite panels, which is driving the demand for them.
|Market size value in 2021||USD 5.95 billion|
|Market size value in 2030||USD 6.27 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Aluminum Composite Panels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aluminum Composite Panels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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