The aluminum composite panels market size is estimated to grow from USD 6.67 billion in 2018 to USD 12.17 billion by 2027, at a CAGR of 6.92%.
Rise in building & construction activities, large-scale investments in infrastructure & industrial sectors, and rapid urbanization in developing economies is boosting the growth of the globl market. The building & construction segment is projected to have the largest market share and dominate the market from 2017 to 2022. Growth of the advertisement industry plays a key role in changing the market; this segment is projected to grow at the second-highest rate.
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Building & construction segment is projected to grow at the highest CAGR
The building & construction segment dominated the market in 2018, and is projected to be the fastest-growing application in the next five years, as a result of the rapid urbanization and demand for better quality homes. The demand for aluminum composite panels is expected to be driven by the growing building & construction and advertising industries. In the transportation industry, these panels are used in cars, rails, boats, and aircraft designs.
Core material segment, by composition, is projected to gain maximum traction
The core material segment dominated the market in 2018, and is projected to be the fastest-growing application in the next five years, as a result of its fire-resistance property. The core material is highly preferred in the construction industry.
Asia Pacific dominated the market for aluminum composite panels
China contributes a major market share in the Asia Pacific aluminum composite panels market. The recovery of the Chinese residential market in 2010 after the 2007–2009 recession and the increase in demand for low-maintenance building products are some of the factors driving the aluminum composite panels market in Asia Pacific. The market in this region is also growing rapidly due to the presence of numerous leading players.
The major players in the aluminum composite panels market in Asia Pacific include Yaret Industrial Group (China), Alumax Industrial (Taiwan), Shanghai Huayuan New Composite Materials (China), Changshu Kaidi Decoration Material (China), Guangzhou Xinghe ACP (China), Jyi Shyang Industrial (Taiwan), Mitsubishi Chemical (Japan), and Msenco Metal (China).
By Base Coating Type:
- Polyvinylidene difluoride (PVDF)
- Polyethylene (PE)
- Surface coating
- Metal skin
- Core material
- Rear skin
- Building & Construction
- North America
- Middle East & Africa
- South America
The research methodology used to estimate and forecast the aluminum composite panels market begins with capturing data on key vendor revenues through secondary research and associations such as the North American Composite Panels and Aluminum Composite Panels Association, Cladding Association, and Composite Panel Association (CPA). The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall size of the global aluminum composite panels market from the revenues of the key players.
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