Press release
Aluminum Composite Panels Market to Hit $8.83 Billion by 2028 at 7.4% CAGR Driven by Sustainable Construction
Aluminum Composite Panels Market Report
Aluminum Composite Panels Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.83 billion In 2028 At A CAGR Of 7.4%:
The aluminum composite panels market size has grown strongly in recent years. It will grow from $6.13 billion in 2023 to $6.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to architectural growth and modern construction trends, increasing urbanization and infrastructure development, durability and weather resistance, versatility in design and aesthetic appeal, cost-effectiveness and material efficiency.
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.
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Aluminum Composite Panels Market Major 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 Driver - 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.
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Prominent Trend - 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.
Aluminum Composite Panels Market Players
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.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the aluminum composite panels market in 2023. North-America is expected to be the fastest-growing region in the global aluminum composite panels market report during the forecast period. The regions covered in the aluminum composite panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aluminum Composite Panels Market Report Structure
3. Aluminum Composite Panels Market Trends And Strategies
4. Aluminum Composite Panels Market - Macro Economic Scenario
5. Aluminum Composite Panels Market Size And Growth
…..
27. Aluminum Composite Panels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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