Aluminum Composite Panels Market to be Driven by the Expansion of the Building and Construction Industry
The new report by Expert Market Research titled, ‘Global Aluminum Composite Panels Market Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the global aluminum composite panels market, assessing the market based on its segments like top coatings, applications, and end-user industries, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 5.95 billion
• Forecast CAGR (2022-2027): 5.30%
The thriving building and construction estimation industry owing to the increased investments in residential and commercial construction projects is driving the market growth of aluminum composite panels. Aluminum composite panels are flexible, durable, and helps enhance the aesthetic appeal of a building structure. Hence, the material is ideal for residential and commercial construction projects such as hotels, restaurants, schools, facades of a building, and others. In addition to this, the excellent weather stability of the material is also driving its demand for various applications. The growing demand for improved building materials in the forecast period is expected to compel the key market players to improve their product offerings, which is expected to further aid the market growth.
Industry Definition and Major Segments
Aluminum composite panels, also known as sandwich panels, are composite materials that are composed of a couple of thermally bonded aluminum skins on one side of the non-toxic polyethene (PE) core. The aluminum composite panels are lightweight, weather-proof, chemical resistant, easy to clean, durable, flexible, and stain-resistant.
By top coating, the market can be segmented into:
• PE (Polyester)
• PVDF (Polyvinylidene Fluoride)
Based on application, the market is divided into:
• Interior Decoration
• Railway Carrier
• Column Cover and Beam Wrap
On the basis of end-use industry, the market can be classified into:
• Building and Construction
The regional markets for aluminum composite panels include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The growing investments in product advertising by major FMCG firms, food brands, and many others are likely to enhance the demand for aluminum composite panels in hoarding applications. Aluminum composite panels are populary used for canopy, shopfront, hoarding structure, and boards, which is expected to contribute to the market growth. Meanwhile, the technological advancements in the transportation sector are likely aid the market growth in the forecast period, as aluminum composite panels are strong and durable and are widely used in the manufacturing of superior quality automotives. Thus, the varied applications of aluminum composite panels are positively influencing the growth of the market.
Key Market Players
The major players in the market are 3A Composites Holding GmbH, Arconic Corporation, Mitsubishi Chemical Holdings Corporation, Alucoil S.A.U., and Qatar National Aluminium Panel Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.