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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.
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.
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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.
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.
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.
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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:
By application, the market is classified as follows:
By end-use industry, the market is segmented into:
By region, the market is classified into:
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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:
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.
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:
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Breakup by Top Coating |
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Breakup by Application |
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Breakup by End-Use Industry |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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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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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