Aluminium Composite Panels, popularly known as ACP, contains a flat panel consisting of two thin coil-coated aluminium sheets bonded to a non-aluminium core. The Aluminium Composite Panels are low priced, can be cut and shaped in any size or shape, thus making them perfect for exterior cladding systems, ceiling decoration and signage boards. ACP offers various technical advantages over the traditional material such as it is lightweight, highly flexible, easy to install, durable along with a wide range of colours and textures. The Aluminium Composite Panel is a great way to add elegance and modern touch to the buildings.
The major factor contributing towards the growing demand of the Global Aluminium Composite Panel market includes the increasing application in different sectors including transportation, building & construction and advertising boards due to its several properties such as lightness, fire resistance, non-combustibility, time and cost-effectiveness, and acoustic insulation. The Aluminium composite panel enhances the appearance of the internal & external walls with easy maintenance and high durability. The increase in the demand for aluminium composite panel due to the standardization in the building & construction industry will further accelerate the growth of the market. The emerging international building code with unique designs provide more sustainability and energy efficiency which will drive the demand for Aluminium Composite Panels over the coming years. Moreover, the increasing construction of factories, manufacturing plants, stadiums and corporate offices will have a positive impact on the Aluminium Composite Panel market across the globe. According to the global construction 2030 report by Global Construction Perspectives and Oxford Economics, the global construction industry is expected to reach USD 8 trillion by 2030. Several developing economies such as India, China and Saudi Arabia are largely focusing on the upcoming construction projects. For instance, the “Make in India” program launched by the Government of India, is specially designed to encourage companies to manufacture their products in India. This initiative is promoting the construction of new industrial and commercial projects in India. On the other hand, the regular maintenance cost and high repairing cost of the aluminium composite panel will hamper the growing demand of the market over the coming years.
Based on Base Coating Type, the Global Aluminium Composite Panel market is segmented into Polyvinylidene Difluoride, Polyethylene, Polyester, Laminating Coating and Oxide Film. The Polyvinylidene Difluoride (PVDF), also known as Polyvinylidene fluoride, is expected to grow at a higher CAGR during thee forecast period due to the increasing usage of PVDF in sheets, films, membranes and coating in multiple industries such as chemical processing, oil & gas, construction and energy. PVDF is mainly used in applications which requires high resistance level, purity to solvents and excellent strength.
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Based on the region, Asia-Pacific is projected to the highest market share during the forecast period owing to the expansion in the construction industry in developing nations like India, China, Indonesia and Vietnam. In addition to this, the rapid rise in the population, increasing number of green building and the high demand for affordable house will further boost the growth of the Global Aluminium Composite Panel market during the forecast period.
Various notable players operating in the market include Arconic, Yaret Industrial Group Co., Ltd., Mitsubishi Chemical Corporation, 3A Composites GmbH, Alubond U.S.A., Alumax Industrial Co., Ltd., Shanghai Huayuan New Composite Materials Co., Ltd., Chanshu Kaidi Decoration Material Co., Ltd., Guangzhou Xinghe Aluminium Composite Panel Co., Ltd., Jyi Shyang Industrial Co., Ltd. among others.
The Global Aluminium Composite Panel market has been segmented based on Base Coating Type, Type, Composition, Application and Vehicle Type. Based on Base Coating Type, the market is segmented into Polyvinylidene Difluoride, Polyethylene, Polyester, Laminating Coating and Oxide Film. Based on Type, the market is segmented into Fire-Resistant, Antibacterial and Antistatic. Based on Composition, the market is segmented into Surface Coating, Metal Skin, Core Material and Rear Skin. Based on Application, the market is segmented into Building & Construction, Advertising, Transportation and Automotive. Based on Vehicle Type, the market is segmented into Passenger Cars and Light Commercial Vehicles.
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