Metal Composite Panel Market: Overview
Metal composite panel are two sheets of corrosion resistant metals, permanently bonded to an extruded thermoplastic or fire retardant thermoplastic. Metal panels are bonded under precise temperature, pressure, and tension. This process results in a metal/plastic composite with better physical characteristics than solid metal sheet of the same thickness. Metal composite panel can be cut, curved, routed, rolled, and adjoined into various geometrical shapes and designs. Metal composite panel are used in a wide range of architectural applications across the globe.
Metal Composite Panel Market: Drivers & Restraints
Metal composite panels are used for exterior cladding due to their high quality, rigidness, attractiveness, and smooth finish. These panels are easy to maintain and offer superior finish for a longer period of time with minimum maintenance. Metal composite panels can be made from the following metals: aluminum, zinc, copper, stainless steel, and titanium. Aluminum and steel composite panels can be coated with various colors to provide the desired look to match the esthetics of the building design.
Metal composite panels are extensively used as exterior cladding in buildings due to their superior finish. Superior finish and affordability makes metal composite panel an ideal material for external applications. The material is also used for interior decoration due to its ability to be cut, rolled, and adjoined in different shapes.
Rise in demand for metal composite panel as external cladding and its extensive usage in commercial spaces are expected to boost the metal composite panel market. This is prompting companies to increase production of these panels. Additionally, easy availability of raw materials is anticipated to boost the demand for metal composite panel in the near future.
Technological advancements in the global metal composite panel market are increasing. Companies are constantly striving to develop new and better ways to manufacture these panels. Development of new manufacturing processes of metal composite panel and rise in applications are estimated to propel the market. However, volatility in prices of raw materials is projected to hamper the market.
Metal Composite Panel Market: Segmentation
Based on application, the metal composite panel market can be divided into commercial, residential, and industrial. The commercial segment dominates the market due to the extensive usage of metal composite panels as external cladding in commercial buildings across the globe.
In terms of geography, the metal composite panel market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to constitute major share of the market during the forecast period. The metal composite panel market in Asia Pacific is estimated to expand at a significant pace due to the rise in demand for these panels in commercial applications. Middle East & Africa is likely to be an attractive region of the metal composite panel market during the forecast period owing to the increase in demand for these panels in residential construction in the region.
Metal Composite Panel Market: Key Players
Prominent players operating in the global metal composite panel market include Living Nature, DK Metals, Ltd., Jamestown Metals Limited, CEI Materials, Fairfield Metal LLC., ARCAT, Inc. and ALPOLIC Materials. These players engage in research and development, strategic alliances, and mergers & acquisitions in order to gain market share.
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