Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Aluminum Composite Panels Market Outlook

The global aluminum composite panels market stood at USD 6.60 billion in 2023 and is expected to grow at a CAGR of 5.30% during the period 2024-2032.

Sectors Such as Building and Construction, Automotive and Transportation, and Advertising Expected to Drive the Market

The global aluminum composite panels (ACPs) market is likely to be driven by sectors such as building and construction, automotive and transportation, and advertising. ACPs have several distinct features and characteristics that have contributed towards its widespread use. Some of these properties include being weather-proof, lightweight, UV and chemical resistant, easy to clean, a good insulator, stain-resistant, durable, flexible, termite and fungus resistant, easy to use and install, scratch resistant, and environmentally friendly.

Global Aluminum Composite Panels Market

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These attributes make ACP the preferred choice for signage (commercial and public display signs; screen and digital printing), creation of point of sale (POS) display stands, trade stands, panels for interior walls and ceilings, cladding, and other industrial, engineering and architectural applications.  Aluminum composite panels have been used for a long time in refrigerated rooms, and food processing and pharmaceutical plants.  However, a major concern with ACPs in the building and construction has been its association with fire incidences. Fires involving ACPs have been reported in key buildings in Dubai, Australia, France, South Korea, China and the UK.

Fire-resistant ACP Segment Likely to See Greater Growth

Essentially, ACPs comprise two thin aluminum sheets with an insulating material in between. This is why ACPs are also knows as sandwich panels. The insulating material, in turn, is made from several other materials, many of which are combustible, such as Polyethylene (PE), Polyisocyanurate (PIR), Polyurethane (PUR), Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), and Modified Phenolic Foam. Materials such as Glass Wool / Stone Wool are non-combustible.

In recent years, different varieties of non-combustible and limited-combustibility ACPs (with varying specifications) have been launched. Several reputed companies are offering fire-resistant or fire-retardant ACPs. Therefore, the fire-resistant ACP (ACPs with non-combustible insulation) segment is likely to see greater growth, which is expected to be driven by the building and construction sector.

Rising Raw Material Cost and Insufficient Raw Material Supply May Restrain the ACP Market in India

In India, increased cost of raw material may lead to higher ACP cost which in turn might restrain the market in the country. Several companies in India announced a hike of nearly  7-10% on various types of composite panels in September 2021 citing increased cost of raw material such as aluminum coil, PE granules, polymer films, and transportation costs. Also, despite increase in prices, Indian firms are finding it difficult to access raw materials in adequate amounts to meet demand.

The primary raw material used in ACPs is aluminum coil, used extensively in facade and signage industries. While in the last few years, ACP manufacturers in India have grown in number owing to augmented demand in different types of industries, ACP producing firms have been negatively affected by a sharp rise in costs and inadequate supply.

Global Aluminum Composite Panels Market

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Aluminum Composite Panel Definition and Global Aluminum Composite Panels Market Segmentation

An aluminum composite panel (ACP) is essentially a three-layer structure, comprising two thin coil-coated aluminum layers with a non-aluminum core. The sheets of aluminum may be coated with polyvinylidene fluoride (PVDF), fluoropolymer resins (FEVE), or polyester paint. Aluminum may be painted with almost any type of colour. While ACPs come in an extensive range of colours (metallic, non-metallic, and dual-tone) ACP patterns may be made to resemble the texture of other materials, like marble or wood.

By top coating, the market is segmented into:

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

By application, the market is classified as follows:

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

By end-use industry, the market is segmented into:

  • Building and Construction
  • Transportation
  • Others

By region, the market is classified into:

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

Global Aluminum Composite Panels Market

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Key Industry Players in the Global Aluminum Composite Panels Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • 3A Composites Holding GmbH
  • Arconic Corporation
  • Mitsubishi Chemical Holdings Corporation
  • Alucoil S.A.U.
  • Qatar National Aluminium Panel Company
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Top Coating
  • Application
  • End-Use Industry 
  • Region
Breakup by Top Coating
  • PE (Polyester)
  • PVDF (Polyvinylidene Fluoride)
  • Others
Breakup by Application
  • Interior Decoration
  • Hoarding
  • Insulation
  • Cladding
  • Railway Carrier
  • Column Cover and Beam Wrap
  • Others
Breakup by End-Use Industry 
  • Building and Construction
  • Transportation
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 3A Composites Holding GmbH 
  • Arconic Corporation 
  • Mitsubishi Chemical Holdings Corporation
  • Alucoil S.A.U.
  • Qatar National Aluminium Panel Company
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global aluminum composite panels market attained a value of nearly USD 6.60 billion.

The market is estimated to grow at a CAGR of 5.30% between 2024 and 2032.

The major drivers of the market include the growing expansion of major end use industries of the product including building and construction, and automotive and transportation, rapid urbanisation, and growing investments by the government to improve the railway networks among others.

The rising investments by the government to improve the infrastructure in the emerging economies are expected to be a key trend guiding the growth of the industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

PE (polyester), and PVDF (polyvinylidene fluoride), among others are the major top coatings included in the market report.

Interior decoration, hoarding, insulation, cladding, railway carrier, and column cover and beam wrap, among others are the different applications of the product.

Building and construction, and transportation are the significant end-user industries included in the market report.

The major players in the industry are 3A Composites Holding GmbH, Arconic Corporation, Mitsubishi Chemical Holdings Corporation, Alucoil S.A.U., and Qatar National Aluminium Panel Company, among others.

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