Aluminum Composite Panels Market

Aluminum Composite Panels Market – Overview

The global aluminum composite panels market is expected to grow at a favorable rate from 2021 to 2031 (forecast period). The aluminum composite panels market is projected to expand as a result of factors such as increased commercial and industrial activity, rising demand from end-use industries, and the massive popularity of antibacterial and anti-toxic panels. Moreover, strong usage of aluminum composite panels due to their benefits such as sturdiness, lower sound transmission, and protection from UV sunlight, heavy wind, rain, humidity, and harmful bacteria & microbes is expected to boost the global market. Furthermore, increased urbanization and booming construction sector have resulted in a surge in demand for aluminum composite panels, notably in Asia Pacific and South America's growing nations.

Aluminum Composite Panels Market – Competitive Landscape

Key players in the global aluminum composite panels market are Arconic, Mitsubishi Chemical, Yaret Industrial Group, 3A Composites, Alumax Industrial, Alubond U.S.A., Changshu Kaidi Decoration Material, Shanghai Huayuan New Composite Materials, Guangzhou Xinghe Aluminum Composite Panel, and Jyi Shyang Industrial.

The worldwide aluminum composite panels market is very competitive, with big organizations focusing on developing innovative items with superior attributes and demonstrating brand presence through well-known trademarked products. Moreover, manufacturing capacity growth and product customization are also significant strategic efforts implemented by these organizations to acquire a competitive edge.

Alubond introduced the Fire-Retardant A1 Aluminium Composite Panels on December 23, 2020. They are completely non-flammable and emit no smoke in the case of a fire, making them an appropriate sustainable substitute to façade cladding materials.

Aluminum Composite Panels Market – Trends and Opportunities

Massive growth in the advertising business is one of the primary factors expected to drive the global aluminum composite panels market. Aluminum composite panels are often utilized for outdoor advertising in public locations and in-transit vehicles to display clear, appealing, and informative advertisements. Moreover, the rising demand for long-lasting and lightweight materials for residential and commercial buildings is expected to propel the market forward. They are also widely used in the insulation of high-rise buildings and the reinforcement of tunnel ceilings. In accordance with this, Aluminum composite panels coated with polyvinylidene difluoride (PVDF) are used to safeguard the exposed area of the building from harsh climatic conditions, allowing the color and gloss to be retained for a longer period.

Furthermore, the rising use of aluminum composite panels in vehicles for improved aesthetics is projected to bolster the global aluminum composite panels market growth. Due to their compression resistance and high sound absorption, the panels are utilized for aesthetic cushioning and noise dampeners. Other aspects, such as increased green building construction across various areas, are expected to propel the global aluminum composite panels market.

The COVID-19 outbreak has had a significant impact on the global aluminum composite panels market. The global market witnessed slow growth due to a drop in the construction sector as a result of restrictions and the stoppage of activities in several manufacturing sites. However, the global market has grown greatly as a result of product usage in advertising billboards.

Aluminum Composite Panels Market – Regional Landscape

The Asia Pacific aluminum composite panels market is expected to grow during the forecast period. The rapidly expanding construction industry, particularly in developing countries such as India, China, Vietnam, and Indonesia, is anticipated to benefit the regional market. Moreover, the region's growth is also projected to be fueled by a growing population, government initiatives encouraging basic services, and a significant demand for inexpensive housing.

The aluminum composite panels market in North America is estimated to expand during the forecast period. The region's rising number of green buildings is projected to propel the regional market further. Moreover, growing governmental plans and efforts in North America to create better infrastructure are expected to assist the regional market growth. Furthermore, the increased usage of panels for aesthetic and cladding applications to meet changing energy and building standards is likely to fuel market growth. Growing manufacturing of electric and hybrid automobiles in North America is also expected to contribute to the aluminum composite panels market.