Report ID: SQMIG15F2083
Report ID:
SQMIG15F2083 |
Region:
Global |
Published Date: July, 2036
Pages:
157
|
Tables:
65 |
Figures:
75
Aluminum Composite Panels Market size was valued at USD 5.95 billion in 2019 and is poised to grow from USD 6.27 billion in 2023 to USD 9.97 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
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.
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Report ID: SQMIG15F2083