Aluminum Composite Panels Market is Forecasted to Reach US$ 9.95 Billion in 2028, Says Stratview Research

The global aluminum composite panels market is projected to witness a growth rate of 6.62% annually from 2023 to 2028, with an anticipated size of US$ 9.95 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aluminum composite panels market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 9.95 billion
Growth (CAGR): 6.62% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Aluminum Composite Panels Market:

The global Aluminum Composite Panels market is segmented based on Coating type, Property type, Application type, Composition type, and Region.

Based on coating type - The market is segmented as PE and PVDF. The PVDF segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. It helps to protect the exposed parts of any building or other applications from external weather conditions and retains its gloss and color for a longer time.

Based on application type - The market is segmented as building & construction, advertising, and transportation. The building & construction segment leads the market owing to the increasing population and growing spending power of people, which are giving rise to the construction of new houses in the urban and suburban areas, globally, and the upsurge in the construction of non-residential buildings and institutes is also a major reason for the dominance of this segment.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/867/aluminum-composite-panels-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period, with China, Japan, India, and Australia being the major growth engines driven by their increasing per-capita income, extensive growth of the construction industry in the region, and the presence of a large number of aluminum composite panel manufacturers in these countries. The market is mainly driven by the increase in population and the rise in the construction of residential and non-residential buildings. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.

Aluminum Composite Panels Market Drivers:
Some of the key drivers listed in the report are given below.
• Growing demand from the construction industry - The construction industry plays a vital role in driving the demand for aluminum composite panels. With the growing urbanization, the construction industry is growing which requires high-quality building materials. ACPs are widely used for applications like exterior cladding, roofing, interior decoration, and even more.
• Lightweight properties of ACPs - The lightweight nature of ACPs allows for easier handling, transportation, and installation which results in cost and time saving for many construction projects. This is one of the reasons why ACPs are becoming the preferred material.
• Growing sustainability practices - ACPs are known as an environment-friendly choice for construction. They have good thermal insulation properties which aids in reducing energy consumption for heating and cooling purposes. With the growing focus on energy-efficient components, ACPs stand at the top of the list of less-energy-consuming materials.
• Increasing adoption in the automotive and transportation industry - ACPs are also being used for a variety of applications such as exterior body panels of vehicles, interior rims, truck beds, etc. This is mostly due to its lightweight property, corrosion resistance, and other properties. The growing automotive and transportation sector thereby creates a huge demand for ACPs in the market.

Top Companies in the Aluminum Composite Panels Market:
Stratview Research has identified the following companies as the top market players.
• 3A Composites
• Alubond U.S.A.
• Alumax Industrial
• Arconic
• Shanghai Huayuan New Composite Materials
• Yaret Industrial Group
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Aluminum Composite Panels Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.