Aluminium Composite Panels Market: Size, Dynamics, Regional Insights, and Market Segment Analysis

Aluminium Composite Panels Market was valued at USD 5.95 Bn. in 2021, and it is expected to reach USD 11.51 Bn. by 2029, exhibiting a CAGR of 8.6 % during the forecast period (2022-2029)
Aluminium Composite Panels Market Overview:
A non-aluminum core is placed between two sheets of metal to form Aluminum Composite Panels. The composite panels are constructed from low-density filler, usually polyethylene, and a variety of materials with thicknesses ranging from 3 to 6mm. Aluminum composite panels are lightweight and affordable, and they can be cut or moulded to any form or size. As a result, they're great for ceiling decorating, signpost boards, and external cladding.

The increase in building growth is boosting the construction sector nowadays and is the main driver of the aluminium composite panel market. Due to the strong economy and growth in institutional and federal development, the construction sector in the United States is growing. Due to low loan rates and a strong economy, the building sector in Europe is also growing. The main distinguishing characteristics of aluminium composite sheets are their affordability and toughness. Additionally, it is anticipated that during the forecast period, rising consumer demand for aluminium composite panels from consumers in the commercial, industrial, and residential sectors would fuel the growth of the aluminium composite panels market.

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Aluminium Composite Panels Market Dynamics
During the forecast period, the aluminium composite panels market is expected to grow due to factors such as simplicity of installation, lack of volatile organic compound (VOC) emissions, and perfect flatness. Additionally, during the course of the forecast period, aluminium composite panels market is expected to grow due to the excellent corrosion resistance of the surface and major applications in kitchens, bathrooms, walls, partitions, and ceilings. Similarly, the global aluminium composite panels market is expected to grow throughout the forecast period due in large part to a number of other characteristics, including durability, strength, colour consistency, and more adaptability.

Another driver for the aluminium composite panels market is the rising demand for autos. Light-duty vehicle sales are boosting the automotive sector in Russia, Germany, and Italy. Vehicle panels can be used as sound dampeners and cushioning to add aesthetic. Because these aluminium composite panels are lightweight and simple to install. The rising demand for aluminium composite panels is expected to drive the aluminium composite panels market over the forecast period. Regular maintenance of the aluminium composite panel is critical for extending its durability and stiffness. Cleaning is also necessary to avoid dust accumulation.

Increasing Demand for Lightweight Building Materials drives the demand for Aluminium Composite Panels Market

Aluminum composite panels primarily lower the structural weight of building components. Technical advancements in the manufacture of aluminium composite sheets and panels are expected to have a significant influence on the entire industry. Because of the eco-friendliness of such items, the growing popularity of green buildings is predicted to stimulate product demand. Aluminum composite panels also have high tensile strength and lower the overall weight of the frame, making them one of the best building materials.
Trends and Opportunities:
Demand for Strong and Lightweight Materials in Construction

Aluminium Composite Panels are lightweight and have an exceptional strength-to-weight ratio, making them in high demand as building materials. Enhanced weather and UV resistance, higher thermal and acoustic insulation, and resilience to extreme environments like acids, alkali salts, and pollutants are among the features they provide. They also offer improved stiffness and longevity. Due to the aforementioned reasons, they are frequently used as claddings, outside wall insulation, exterior wall coverings, and exterior and interior components of vehicles, including ships, trucks, and passenger automobiles.

The construction sector has grown rapidly during the forecast period. Owing mostly to massive investments and demand for infrastructure in growing economies such as China, India, Brazil, and Russia, among others. The construction industry is now seeing substantial expansion in Asia-Pacific, the Middle East, and Africa. India is expected to remain the fastest-growing growing economy in the Asia-Pacific region. The Indian government proposed a three-year infrastructure investment target of USD 376.5 billion (2023-2025), comprising USD 120.5 billion for the development of 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects.

Market Restraints:

Raw material has a high cost

Though the availability and pricing of core elements such as polyethylene, aluminium metal, and other coating materials are unpredictable, the entire price of aluminium composite panels is affected. When compared to other building materials, the raw materials for aluminium composite panels are also expensive, as are the manufacturing expenses. Raw material prices have risen due to fluctuating crude oil prices and currency volatility. The initial financial expenditure needed to construct facilities for production smelting, refining, and metal recovery is significant. As a result, this aspect is limiting the Aluminium Composite Panels Market growth.

Rising raw material costs and insufficient raw material supply may hinder India's ACP market
Increased raw material costs in India may result in higher ACP costs, which may constrain the country's market. Several Indian firms declared a 7-10% price rise on various types of composite panels in September 2021, claiming increasing raw material costs such as aluminium coil, PE granules, polymer films, and shipping charges. Furthermore, despite price increases, Indian enterprises are finding it difficult to get raw materials in sufficient quantities to fulfill demand.

Aluminum coil is the major raw material used in ACPs, which is widely employed in the facade and signs sectors. While the number of ACP producers in India has increased in recent years due to increased demand in various sectors, ACP manufacturing enterprises have been badly impacted by a significant increase in pricing and insufficient supply.
Aluminium Composite Panels Market Segment Analysis
By Base Coating Type, Thanks to a broad range of applications such as lightweight construction, high-speed trains, and advertisement boards, polyvinylidene difluoride dominated the market in 2021, accounting for more than 34.4% of the Aluminium Composite Panels Market. Furthermore, qualities such as corrosion and wear resistance, as well as durability, are likely to boost segment growth. PE panels are also widely employed because of qualities such as exceptional stiffness, surface flatness, smoothness, and thermal and acoustical insulation. It is predicted to increase significantly in the future due to advantages such as ease of production and processing.

By Type,

The fire-resistant ACP segment is expected to grow faster during the forecast period.

ACPs are made up of two thin aluminium sheets sandwiched by an insulating layer. As a result, ACPs are also known as sandwich panels. Polyethylene (PE), Polyisocyanurate (PIR), Polyurethane (PUR), Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), and Modified Phenolic Foam are among the ingredients used to make the insulating material. Glass wool and stone wool is non-combustible materials.

Various non-combustible and limited-combustibility ACPs (with differing specifications) have been introduced in recent years. Several well-known businesses provide fire-resistant or fire-retardant ACPs. As a result, the fire-resistant ACP (ACPs with non-combustible insulation) sector is expected to grow faster, driven by the building and construction industries.
Aluminium Composite Panels Market Regional Insights
The Asia-Pacific region dominated the global Aluminium Composite Panels Market share

Growing construction activity and demand for low-maintenance building goods are boosting market expansion. Large-scale investments in hotels by ASEAN tourist agencies give the attractive potential for market expansion, owing to the usage of ACPs in interior décor for aesthetic appeal.

The building industry is critical to China's continuing economic development. According to the National Bureau of Statistics, the value of building production accounted for 25.7% of China's GDP in 2021, up from 11.0% in 2020. According to China's Five-Year Plan, which was released in January 2022, the construction sector is expected to develop at a 6% annual pace in 2022. Prefabricated pieces, which are partially or entirely produced and shipped to building sites for assembly, might account for more than 30% of new construction in the country. China, the world's second-biggest economy, is expected to reach a projected market size of US$2.1 billion by 2029, with a CAGR of 8.6% from 2021 to 2029.

The Indian government places a high priority on infrastructure development to spur economic growth. The country's real estate sector is predicted to reach a market size of USD 1 trillion by 2029 while contributing 13% of the country's GDP by 2025. Increased investments in the residential and commercial sectors, as well as strategic measures by the Indian government, are likely to enhance the country's construction industry, which is predicted to drive the aluminium composite panel (ACP) market in India.

South Korea manufactured 3,506,774 automobiles in 2020, an 11.2% decrease from the previous year. The drop in output was caused by a drop in domestic sales and imports. However, output climbed during the first nine months of 2021, reaching 2,576,501 units. It climbed by 1% in the first nine months of 2020, with over 2,549,109 automobiles manufactured. According to the OICA, vehicle manufacturing will reach 3,462,404 units in 2021. As a result of the predicted high expansion in the construction and automotive industries, demand for aluminium composite panels (ACP) in the area is expected to skyrocket throughout the forecast period.

The growing number of green buildings in the area is expected to fuel the North American market. Increasing government plans and initiatives in North America to create improved infrastructure are assisting the region's growth. Additionally, the increased usage of panels for aesthetic and cladding applications to satisfy changing energy and building regulations is likely to fuel development. Increased manufacturing of electric and hybrid automobiles in North America will also support market growth. The Aluminum Composite Panels market in the United States is expected to be worth $1.8 billion by 2023. Other notable geographic markets include Japan and Canada, which are expected to grow at 3% and 5%, respectively, between 2021 and 2029. Germany is expected to grow at a CAGR of around 3.5% in Europe during the forecast period.
Report Scope
The research evaluates current activities and developments in each sub-sector, as well as revenue growth at the global, regional, and global levels (2021-2029). For this analysis, MMR divided the Aluminium Composite Panels market into type, vehicle type, and geographic locations. The market analysis also contains expected market estimates and trends for 17 countries spread throughout the world's primary geographic zones. The value for the aforementioned categories is provided in the report (in USD million).

The research also aids in understanding the Aluminium Composite Panels Market trends, structure, and size projections by evaluating market segments. The research serves as an investor's guide by providing a clear depiction of competition analysis of major competitors in the Aluminium Composite Panels Market by financial situation, product portfolio, growth plans, and geographical presence.
Aluminium Composite Panels Market Scope: Inquire before buying



Aluminium Composite Panels Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 5.95 Bn.


Forecast Period 2022 to 2029 CAGR:
8.6%
Market Size in 2029:
US $ 11.51 Bn.


 Segments Covered:
by Base Coating Type
• Polyvinylidene difluoride
• Polyethylene


by Type
• Fire-resistant
• Anti-bacterial
• Anti-static


by Application
• Building & Construction
• Advertising
• Transportation
• Others



Aluminium Composite Panels Market Key Players
• Mitsubishi Chemical Corporation
• Jyi Shyang Industrial
• Alstrong
• Arconic
• Yaret Industrial Group
• 3A Composites
• Alubond U.S.A.
• Alumax Industrial
• Shanghai Huayuan New Composite Materials
• Changshu Kaidi Decoration Material
• Guangzhou Xinghe Aluminium Composite Panel
• Jyi Shyang Industrial.
• EURO PANELS PRODUCTS PVT LTD
• Constellium
• Mulford Plastics
• RUSAL
• Interplast
• Aludecor Lamination Pvt. Ltd.
• VIVA COMPOSITE PANEL PVT. LTD.
• Taizhou Kingertai Decoration Material Co., Ltd.
• Alucoil
• MBond Manufacturer Sdn Bhd
• Kingaluc
• Harwal Group of Companies
• Xinjiang Yayet Chemical Co., Ltd.

Frequently Asked Questions:

1] What segments are covered in the Global Aluminium Composite Panels Market report?
Ans. The segments covered in the Aluminium Composite Panels Market report are based on Type, Application, End-use Industry, and Region.

2] Which region is expected to hold the highest share in the Global Aluminium Composite Panels Market?
Ans. The Asia Pacific region is expected to hold the highest share of the Aluminium Composite Panels Market.

3] What is the market size of the Global Aluminium Composite Panels Market by 2029?
Ans. The market size of the Aluminium Composite Panels Market by 2029 is expected to reach USD 11.51 Bn.

4] What is the forecast period for the Global Aluminium Composite Panels Market?
Ans. The forecast period for the Aluminium Composite Panels Market is 2021-2029.

5] What was the market size of the Global Aluminium Composite Panels Market in 2021?
Ans. The market size of the Aluminium Composite Panels Market in 2021 was valued at USD 5.95 Bn.