Global Aluminum Composite Panels Market: Trends, Growth Factors, and Future Prospects
May 06, 2024
October 26th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aluminum Composite Panels Market.
The Aluminum Composite Panels Market 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.
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. 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.
Segments 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.
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Features of the Report
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.
The Aluminum Composite Panels Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- 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, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
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Author : Emily
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.