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Aluminum Composite Panels Market on Upward Trajectory: Expected to Reach $8.83B in 2028, CAGR 7.4%, Propelled by Construction Demand
Aluminum Composite Panels Market Report
The aluminum composite panels market size is expected to see strong growth in the next few years. It will grow to $8.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainable construction practices, rising popularity of prefabricated construction, increasing demand in automotive and transportation, expansion of the retail and commercial sector, global economic growth and construction activities. Major trends in the forecast period include technological innovations in coating and finishing, innovations in coating technologies, digital printing on acp surfaces, rapid urbanization and construction activities, shift towards 3d acp applications.
Market Overview -
An aluminum composite panel (ACP), also known as a sandwich panel, is a type of building material used in interior design, architecture, and construction. It consists of two thin aluminum sheets joined to a non-aluminum core, usually constructed of polyethylene (PE) or a core filled with fire-retardant minerals.
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Aluminum Composite Panels (ACP) Market Surges On Soaring Demand From Building And Construction Industry
The increasing demand from the building and construction industry is expected to propel the growth of the aluminum composite panels (ACP) market going forward. The building and construction industry refers to the sector of manufacturing and trade that is concerned with developing, maintaining, and repairing infrastructure. Aluminum composite panels are used as building materials in construction due to their lightweight and durable material, design flexibility, energy efficiency, and cost-effectiveness. These panels are utilized in the building that is composed of combustible or non-combustible thermoplastic material used in the exterior and interior of the building. For instance, in 2022, according to a report shared by ToolSense, an Austria-based software company related to construction, facility services, mining, agriculture, logistics, or manufacturing, in the USA, the number of housing units built in 2021 was 1,337,800, which was a 4% rise over the previous year. Between March and July 2020, the volume of residential buildings rose by 275%. Therefore, the increasing demand from the building and construction industry is driving the growth of aluminum composite panels.
Competitive Landscape -
Major companies operating in the aluminum composite panels market report are 3A Composites GmbH, Mitsubishi Chemical Corporation, Guangzhou XingHe Aluminum Composite Panel Co. Ltd., Shanghai Huayuan New Composite Materials Co. Ltd., Jyi Shyang Industrial Co. Ltd., Alumax Industrial Co. Ltd., Changshu Kaidi Decoration Material Co. Ltd., Mulk Holdings Group, Hyundai Alcomax Co. Ltd., Yatai Industrial Group Co. Ltd., Fairfield Metal LLC, Yaret Industrial Group, Shyang Industrial Co. Ltd., Msenco Metal Co. Ltd, Alstrong Enterprises India Pvt. Ltd., Alcoa Corporation, Arconic Inc., Aludecor Lamination Pvt. Ltd., Kingspan Group, Taizhou Kingertai Decoration Material Co. Ltd., Interplast, Fangda Group, Jixiang Building Materials Group, Laminators Incorporated, Multipanel UK, Safario Group of Companies, VIVA Composite Panel Pvt. Ltd., Eurobond Industries Pvt. Ltd., Falken Design Corporation, Enclosure System Pvt. Ltd.
Revolutionizing Architectural Vistas Unveiling Cutting-Edge Aluminum Composite Panel Innovations
Product innovations are key trends gaining popularity in the aluminum composite panels (ACP) market. Companies operating in the aluminum composite panels market are adopting new technologies to sustain their position in the market. For instance, in July 2023, Aludecor, an India-based company that manufactures aluminium composite panels launched its much-anticipated aluminum honeycomb panels called Nexcomb, which are capable of ushering in a new age of architectural possibilities. This innovative product features Aludecor's own honeycomb core production, offering a unique blend of lightweight strength and limitless potential for various applications.
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Key Segments -
The aluminum composite panels market covered in this report is segmented -
1) By Panel Type: Fire-Resistant, Antibacterial, Antistatic
2) By Base Coating Type: PVDF (Polyvinylidene Fluoride), Polyester, Laminating Coating, Oxide Film, Other Base Coatings
3) By End-Use: Building And Construction, Automotive And Transportation, Industrial, Advertising, Other End-Uses
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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