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Global Aluminum Composite Panels Market to Grow at a CAGR of 5.30% in the Forecast Period of 2022-2027, Driven by the Rising Construction Industry

According to a new report by EMR titled, ‘Global Aluminum Composite Panels Market Report and Forecast 2022-2027’, the global aluminum composite panels market is expected to grow at a CAGR of 5.30% during the period 2022-2027, driven by demand from sectors such as building and construction, automotive and transportation, and advertising.

An aluminum composite panel (ACP) refers to a three-layer structure made of two thin coil-coated aluminum sheets, with an insulating material in between. This insulating material is made from several other materials which may be combustible or non-combustible. The sheets of aluminum may be coated with polyvinylidene fluoride (PVDF), fluoropolymer resins (FEVE), or polyester paint. ACPs are available in a wide range of colours and patterns resembling the texture of other materials like marble or wood.

ACPs have a number of specific traits and properties that have aided in their widespread adoption. Weatherproof, lightweight, UV and chemical resistant, simple to clean, good insulator, stain-resistant, resilient, flexible, termite and fungus resistant, easy to use and install, scratch resistant, and environmentally friendly are a few of these characteristics. These properties make ACP the favoured choice for signage (commercial and public display signs; screen and digital printing), POS (point of sale) display stands, trade stands, interior wall and ceiling panels, cladding, and other industrial, engineering, and architectural applications. Thus, the global ACP market is likely to be driven by demand from sectors such as building and construction, automotive and transportation, and advertising, although rising raw-material and transportation costs, and insufficient supply of raw-material may restrict the ACP market in India.

In the global ACP market, the fire-resistant ACP segment is expected to witness more growth.  Historically, a major challenge with ACP use has been its association with fire occurrences. Such major incidents have been reported from Dubai, Australia, France, South Korea, China and the UK. Traditionally, the insulating material used in ACPs included that which was combustible, for example, Polyethylene (PE), Polyisocyanurate (PIR), Polyurethane (PUR), Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), and Modified Phenolic Foam. Materials such as Glass Wool / Stone Wool, however, are non-combustible. With increased concern for fire incidences in which ACPs were involved, manufacturers are offering fire-resistant or fire-retardant ACPs. Therefore, the fire-resistant ACP segment is likely to see greater growth, expected to be driven by the building and construction sector.

Increased raw material costs in India may lead to higher ACP costs, which could limit the market in the nation. In September 2021, several Indian businesses announced a price rise of roughly 7-10% on various types of composite panels, citing increasing costs of raw materials such as aluminum coil, PE granules, polymer films, and transportation charges. Moreover, despite price increases, Indian enterprises are having difficulty obtaining raw materials in sufficient quantities to meet demand.

Key Findings of the Report

  • Building and construction, automotive and transportation, and advertising sectors would drive the global aluminum composite panels market.
  • Fire-resistant ACP segment is expected to witness more growth.
  • Increased raw-material and transportation cost, and inadequate supply of raw material may negatively impact the ACP market in India.

 

Global Aluminum Composite Panels Market Segmentation

By top coating, the global aluminum composite panels market is segmented into:

  • PE (Polyester)
  • PVDF (Polyvinylidene Fluoride)
  • Others

By application, the global aluminum composite panels market is classified as follows:

  • Interior Decoration
  • Hoarding
  • Insulation
  • Cladding
  • Railway Carrier
  • Column Cover and Beam Wrap
  • Others

By end-use industry, the global aluminum composite panels market is segmented into:

  • Building and Construction
  • Transportation
  • Others

By region, the global aluminum composite panels market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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