Aluminum Composite Panels Market Size, Major Strategies, Key Companies, Revenue Share Analysis, 2016-2026
Rising construction activities across the globe coupled with rising urban population is propelling the growth of the market.
NEW YORK, NY, USA, September 23, 2022 /EINPresswire.com/ — The Global aluminum composite panel market is expected to reach $11.06 billion by 2026, according to a new report from Reports and Data. Aluminum composite panels are weather resistant, durable and stain resistant as they are blended with plastic and metal. They offer end users to witness noise reduction from the outside environment. Panels retain their shape and size, despite drastic weather changes, making them ideal for regions with harsh seasons. Plus, they are corrosion resistant, ensuring consumers will reap the benefits for years to come. These materials are among the most economical materials available on the market. Aluminum composite panels offer cost savings right from the start, due to low initial cost and long-term durability. They have also proven to provide high quality thermal comfort, allowing further savings on energy and gas expenses.
Rising residential construction activities across the globe coupled with rising population is propelling the growth of the market. Rapid urbanization and industrialization will also drive the demand for aluminum composite panels during the forecast period. The construction industry is a booming industry and is expected to remain so as development processes continue, especially in developing countries. Moreover, rising investment in smart cities in emerging economies will also drive the demand for aluminum composite panels globally.
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Major participants are Hyundai Alcomax Co., Ltd., Mitsubishi Plastics, Inc., Alcoa, Yaret, Interplast, Euramax, Aludecor, Fairfield Metal LLC, Alubond USA, Alcotex Inc., Dong’ E Blue Sky & Seven Color Building Materials CoLtd . , Jyi Shyang Industrial, Guangzhou Goodsense Decorative Building Materials Co., Ltd., Shanghai Huayuan New Composite Materials CoLtd., Shandong Jixiang Decoration & Building Material CoLtd. and Taizhou Kingertai Decoration Material Co., Ltd., among others.
Other key findings from the report suggest
• Fire resistant products account for the largest market share of around 42% in 2018 and are expected to witness the highest growth rate of 7.2% during the forecast period. Fire resistant panels are used as exterior and interior cladding or roof covering on new buildings as well as renovation applications. When exposed to a higher temperature, the product melts. In addition, it does not emit fumes and gases that are harmful to the environment.
• Core material components account for the largest market share of around 32% in 2018. ACPs consist of two high-strength aluminum sheets that include a low-density insulating core material in between. The base material includes an incombustible mineral and a small fraction of thermoplastic which ensures high performance against fire hazards.
• The Asia-Pacific region held the largest market share of around 31% in 2018 and is expected to witness the highest CAGR of 6.7% during the forecast period. High expenditures on construction and infrastructure in emerging economies including China and India are greatly increasing the demand for aluminum composite panels.
• Additionally, the growth of transportation and automobile industries in the region has resulted in increased demand for warehouses, hotels, restaurants, and others, which is positively impacting the growth of the market. The automotive sector market is driven by the need to minimize vehicle weight to increase fuel efficiency and reduce maintenance costs.
• Companies have adopted various strategies including mergers, acquisitions, and partnerships to maintain current leads and bring new developments to market.
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For this report, the reports and data have segmented the global aluminum composite panel market on the basis of product type, coating type, component, end-user, and region:
Product Type Outlook (Volume, Kilotons and Revenue, USD Million; 2016-2026)
• Fire retardant
Coating Type Outlook (Volume, Kilotons and Revenue, USD Million; 2016-2026)
• Polyvinylidene difluoride (PVDF)
• Oxide films
• Polyethylene (PE)
Components Outlook (Volume, Kilotons and Revenue, USD Million; 2016-2026)
• Surface coating
• Back skin
• Metallic skin
• Base material
End-User Outlook (Volume, Kilotons and Revenue, USD Million; 2016-2026)
• Building and construction
The regional analysis covers:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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Benefits of the Global Aluminum Composite Panels Market Report:
• Comprehensive analysis of changing market dynamics
• A futuristic perspective on the various factors influencing the market
• An 8-year forecast of market growth and expected revenue growth
• Ease of understanding of the market, key segments and their future growth
• In-depth analysis of the competitive landscape to give companies a competitive edge
• In-depth market insight with in-depth segmentation analysis
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