05th Nov 2020 - The global Aluminum Composite Panel Market size is expected to value at USD 8.26 billion by 2025. The aluminum composite panels industry is subject to witness a substantial growth due to the rapid development in construction and infrastructure activities across both developed and developing economies. Exponential population growth in developing economies and rapid urbanization are some of the critical factors responsible for growth of aluminum composite panel industry in upcoming years.
Substantial investment by local government to improve existing infrastructure and rise in the construction activities, are expected to boost marker growth. Globally, the aluminum composite panels market is predicted to grow at CAGR of 6.92% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
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Some of the important properties of aluminum composite panel are erosion resistance, wear resistance, and heat resistance. Such properties are vital for applications such as exterior cladding, ceiling, flooring, and interior cladding. Growing popularity of the aluminum composite panels (ACPs) is anticipated to boost market expansion of the market over the forecast period. Additionally, rise in the number of the application of the aluminum composite panels (ACPs) in various manufacturing process in automotive industry is driving market growth further. Rise in the adoption of lightweight commercial vehicle (LCV) from the logistics & transportation industry is predicted to boost the demand of aluminum composite panels (ACPs), in years to come.
Polyvinylidene difluoride (PVDF)-based aluminum composite panel is one of the fastest growing segment in the aluminum composite panel market with substantial revenue generation in the last couple of years. Rising market value of the polyvinylidene difluoride (PVDF)-based aluminum composite panels is attributed to increasing adoption in automotive and advertisement board applications. Polyvinylidene difluoride (PVDF)-based APCs offer exclusive properties such as operational efficiency, cost-effectiveness, protection against wear & tear, resistance to ultraviolet radiation, corrosion resistance, and water resistance. These advantages makes them ideal for application involving automotive and advertisement board, in comparison with their counterparts. Fluctuations in the prices of the aluminum substantially impacts cost of the aluminum composite panels, thus directly hampering the market growth
Coating-aluminum composite panels segment has also witnessed significant growth in recent years, owing to increasing adoption in various manufacturing processes such as multi-layer extrusion lamination. Additionally, increase in use of laminating coating-APCs in the construction industry is expected to fuel growth of this segment in upcoming years. Some of the key features of laminating coating-APCs include durability, longevity, flexibility, high tolerance, and ease during installation.
Product Outlook (Volume, Million Sq. Ft.; Revenue, USD Million, 2014 - 2025)
• Laminating Coatings
• Oxide Film
Application Outlook (Volume, Million Sq. Ft.; Revenue, USD Million, 2014 - 2025)
• Advertisement Boards
The key players in the aluminum composite panels market are Alcoa Co., Interplast Co. Ltd., Aludecor Ltd., Alubond U.S.A, and 3A Composites Ltd.
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The aluminum composite panels industry is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rising governmental initiatives to promote infrastructure activities in the region and existence of prominent industry players. Asia-Pacific region is predicted to hold major market share in the aluminum composite panel industry with massive growth in forecast period. Countries such as India, China Indonesia and Vietnam are leading the Asia-Pacific market with exponential growth in population, leading to high-end demand for cheap housing. Other factors prompting market growth in the region are multiple government schemes to provide basic amenities like food and shelter, coupled with investment by leading industry players considering potential growth opportunities in the region.