New York, USA, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Aluminum Composite Panels Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Aluminum Composite Panels Market Information by Product Type, Application, Control Mechanism, End-User, And Region - Forecast till 2030”, the market is estimated to grow at a 5.5% CAGR to reach USD 9.6 Billion by 2030.
Market Synopsis
A flat panel of two aluminum alloy sheets joined together with a non-aluminum core is known as an aluminum composite panel (ACP). It is utilized in structures as cladding or facade material, insulation, and signs. The non-toxic polyethylene (PE) core of aluminum composite panels (ACP) is surrounded by two pre-coated, thermally bonded aluminum skins on either side. In essence, they are flat panels constructed of an aluminum composite material that consists of two thin coil-coated sheets of aluminum connected to a core made of another material. ACPs are also employed in constructing insulation, signs, and outside facades or cladding. Additionally, both letter backing for channels and outdoor signs employ aluminum composite panel sheets. The strength-to-weight ratio of aluminum composite panels (ACP) is outstanding and lightweight.
They offer improved weather and UV resistance, higher thermal and sound insulation, and resilience to extreme environments like alkali salts, acids, and pollutants. They also offer improved rigidity and longevity. Due to the reasons above are frequently used as claddings, outside wall insulation, exterior wall covers, and exterior and interior parts of vehicles, including ships, trucks, and passenger automobiles. ACPs are utilized in automobiles for aesthetic reasons terms of aesthetics and functionality. The panels can be utilized as padding, soundproofing, or even to add beauty and elegance. These elegant and functional panels can also be used inside vans and buses. These panels are good at retaining heat. The advantages of ACPs include their low weight, resistance to compression, high stiffness, fire protection, lack of combustibility, lack of toxic gases, ease of installation, reduction of installation costs and time, and good acoustic insulation. It is anticipated that the increasing adoption of these panels in the automotive industry will accelerate market expansion.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 9.6 Billion |
| CAGR | 5.5% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Application, Control Mechanism, End-User, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The growth of aluminum composite panels global market can be attributed to increasing industrial & commercial construction activities |
| Growing construction industry. |
Market Competitive Landscape:
The illustrious player in the aluminum composite panels market are:
- American Building Technologies, Inc. (U.S.)
- Shanghai Huayuan New Composite Materials Co., Ltd. (China)
- Mitsubishi Plastics, Inc. (Japan)
- Changshu Kaidi Decoration Material Co., Ltd. (China)
- Jyi Shyang Industrial Co., Ltd. (Taiwan)
- Alcoa Inc. (U.S.)
- Alumax Industrial Co., Ltd. (Taiwan)
- Yaret Industrial Group (China)
- Guangzhou Xinghe ACP Co., Ltd. (China)
- Msenco Metal Co., Ltd. (China)
Market U.S.P. Covered:
Market Drivers:
For the construction of signage, aluminum composite panels were most frequently employed. Due to the use of signage and hoardings for outside applications and the necessity to endure variations in temperature and climate, ACP can create various adaptable outdoor signs. ACP is the ideal material in this situation to handle such applications. The major user of raw materials worldwide is the construction industry. The U.S. construction industry is growing quickly due to a healthy economy, favorable commercial real estate market conditions, and increased state and federal funds for institutional development and public infrastructure. Sandwich panels are made using aluminum composites, which will drive the market's expansion throughout the projection period. Furthermore, the total market is anticipated to be significantly impacted by technological developments in producing ACP sheets and panels.
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Market Restraints:
Periodic inspection of aluminum composite panels is required to preserve rigidity and increase the panel's lifetime and durability. If dust buildup and other organic growth are to be avoided, proper cleaning is also essential. These panels also help to maintain the building's aesthetic appeal. However, if bent or dented, it might be challenging to repair the harmed area without impairing the aesthetic appeal of the aluminum composite panel. These panels are prone to denting if improperly assembled. That might also harm the original structure of the panel. The price and duration of repairs could thus provide a significant obstacle for producers of aluminum composite panels. An aluminum composite panel is employed for the interior of homes, such as kitchen carts and cabinets. ACP sheets are also used for bathroom ceilings.
Market Segmentation
By coating base, the market includes polyvinylidene difluoride (PVDF) and polyethylene (PE). By type, the market includes fire-resistant, anti-bacterial, and anti-static. By application, the market includes building & construction, advertising boards, and transportation.
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Regional Insights
The Asia-Pacific region commanded the global market share in the industry under study. Growing construction activity and consumer demand for low-maintenance building materials encourage market expansion. Due to the usage of ACPs in interior decorating for aesthetic appeal, large-scale investments in resorts by the tourism ministries of ASEAN countries offer attractive potential for the market's growth. The country's construction industry is forecast to grow due to rising investments in the commercial and residential sectors and strategic government initiatives. This, in turn, will likely fuel the market for aluminum composite panels (ACP). ACP is also immune to corrosion, moisture, solvents, and UV radiation.
Prices for aluminum composite panels are ineffective due to the wide price variety in the industry, which causes margins to differ for different market participants, including raw material suppliers, producers, and distributors. A further factor in Africa's expanding construction sector is the continent's expanding population and the demand for acceptable infrastructure. Due to cheap financing rates, robust economic development, and unmet needs, the European building industry is expanding quickly. To lighten the structural weight of transportation systems, including airplanes, missiles, satellites, and high-speed trains, sandwich panels are frequently employed in their design and construction.
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