Aluminum Composite Panels Market Analysis

Global Aluminum Composite Panels Market Overview

Aluminum Composite Panels Market Size was valued at USD 5.80 billion in 2023. The Aluminum Composite Panels industry is projected to grow from USD 6.12 Billion in 2024 to USD 8.91 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024 - 2032). Increased construction industry and increased panels are increasingly used for cladding and decorative applications to meet the transitional energy and building needs are the key market drivers enhancing the market growth.                             

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Aluminum Composite Panels Market Trends

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  Growth in demand from end-use industries is driving the market growth

  
  

Aluminum composite panels find extensive applications in transportation, building & Construction, and advertising boards. Their usage in transportation is driven by their favorable properties, such as lightweight, compression resistance, fire resistance, non-toxic fumes, ease of assembly, cost-effectiveness, and acoustic insulation. The growing demand for high-performance panels and standardized installation practices in the building & construction industry has led to advancements in aluminum composite panel technology. The market growth is influenced by factors like the panels' optimal fire, weather, chemical resistance, and lightweight characteristics. Additionally, emerging international building codes have pushed for design-oriented and sustainable construction practices, further boosting the demand for aluminum composite panels. This factor drives the Market CAGR

Outdoor advertising, also known as out-of-home (OOH) advertising, is one of the oldest advertisements used to advertise public-domain goods and services. While placing their advertising around parks, metros, malls, highways, shopping malls, bus and train stations, this campaign focuses on clients using public transportation. Outdoor advertising is a marketing strategy used by companies looking to expand their customer base. Additionally, billboards, hoardings, posters, buses, vehicles, and kiosks all have these advertisements. One of the most popular forms of advertising is on billboards and on public transportation. Ads that are simple, attractive, and intelligent generally draw in a sizable audience.

The out-of-home (OOH) media has continued to be the principal channel for interacting with a large urban audience since buyers must recognize it in outside contexts. The cost-effectiveness of this medium, particularly the outdoor advertising billboard segment, which is employed by top companies in the FMCG, BFSI, hotel, and e-commerce sectors, may be credited for this increased expenditure on outdoor advertising services. Digital billboards are expanding quickly in comparison to static billboards because of the falling costs of LCD and LED display technologies and the creation of a programmatic market. Thus, driving the Aluminum Composite Panels market revenue.

In June 2023, Alumaze launched its newest products – among them being ACP sheets manufactured from its recently established factory located in Vizianagaram district which is one of the quickest-built production facilities that has been completed within eight months with a capital outlay of $6m – to keep up with increasing demand for aluminum panels used predominantly for interior decoration and signages.

The American Architectural Manufacturers Association (AAMA) published another standard on ACPs that provides additional information about their performance and installation in June 2023.

According to an announcement made in April 2023, Alcoa will invest $100m to build an ACP plant in China so as to take advantage of the growing Chinese market for these goods.

Aluminum Composite Panels Market Segment Insights

Aluminum Composite Panels Type Insights

Based on type, the  Aluminum Composite Panels' market segmentation includes fire-resistant, anti-bacterial, and anti-static. The fire-resistant segment dominated the market due to the increasing emphasis on fire safety regulations and the growing demand for building materials that offer enhanced fire resistance. Fire-resistant aluminum composite panels provide an added layer of protection against fire hazards, making them highly sought after in the construction industry. With stringent building codes and regulations to ensure occupant safety, the demand for fire-resistant panels has increased significantly.

Aluminum Composite ApplicationInsights

Based on Application, the  Aluminum Composite Panels market segmentation includes Building & Construction, Advertising boards Transportation. The building & construction segment dominated the market; due to the extensive use of aluminum composite panels in the construction industry for various applications. These panels offer numerous advantages, such as durability, lightweight nature, flexibility, and ease of installation, making them highly suitable for building exteriors, wall cladding, roofing, and interior decoration. As one of the largest consumers of aluminum composite panels, the building and Construction sector drives the demand for these panels.

October 2022- With the inauguration of the third manufacturing facility at Haridwar, Aludecor became India’s largest manufacturer of Aluminium Composite Panels. Now equipped with a coil coating capacity of 22,000 metric tonnes per annum across its three plants located in Haridwar alone, it also happens to be the first company under the ACP category that introduced India’s maiden coil coating line back in 2006 and has the highest such setup across the country.

Figure1: Aluminum Composite Panels Market, by Application, 2023 & 2032 (USD billion)                             

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Aluminum Composite Panels Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Aluminum Composite Panels market will dominate this market, owing to an increase in panels increasingly used for cladding and decorative applications to meet transitional energy and building needs, boosting the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: ALUMINUM COMPOSITE PANELS MARKET SHARE BY REGION 2023 (%)                         

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Aluminum Composite Panels market accounts for the second-largest market share due to the encourage better infrastructure promoting development in the Region. The German market for Aluminum Composite Panels emerged as the leader with the highest market share. In contrast, the UK market experienced rapid growth, establishing itself as the fastest-growing market in Europe.

The Asia-Pacific Aluminum Composite Panels Market is expected to grow at the fastest CAGR from 2023 to 2032. The increasing population, construction activities, and rising demand for affordable housing drive the segment's growth. These factors contribute to the upward trajectory of the segment, creating more expansion opportunities. Moreover, China’s Aluminum Composite Panels market held the largest market share, and the IndianAluminum Composite Panels market was the fastest-growing market in the Asia-Pacific region.

Aluminum Composite PanelsKey Market Players& Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the aluminum composite panels market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Aluminum Composite Panels products industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  Aluminum Composite Panels industry to benefit clients and increase the market sector. The Aluminum Composite Panels industry has offered some of the most significant advantages in recent years. Major players in the Aluminum Composite Panels market, including American Building Technologies, Inc. (U.S.), Alcoa Inc. (U.S.), Alumax Industrial Co., Ltd. (Taiwan), Yaret Industrial Group (China), Shanghai Huayuan New Composite Materials Co., Ltd. (China), Mitsubishi Plastics, Inc. (Japan), ChangshuKaidi Decoration Material Co., Ltd. (China), JyiShyang Industrial Co., Ltd. (Taiwan), Guangzhou Xinghe ACP Co., Ltd. (China), and Msenco Metal Co., Ltd. (China)., and others, are attempting to increase market demand by investing in research and development operations.

Established in 2001, Guangzhou Xinghe Aluminum Composite Panel Co., Ltd. is a reputable company known for its high-quality aluminum composite panels. With strong financial backing, the company has invested in advanced technology and production equipment to ensure the production of superior products. Recently, Guangzhou Xinghe ACP expanded its product line to include various aluminum composite products such as exterior wall materials, fireproof panels, mirror panels, and plastic wall panels. This strategic move aims to enhance the company's product portfolio and offer customers a comprehensive range of options.

Alubond U.S.A is an Aluminum composite Panels (ACP) and Metal Composite Material (MCM) Panels brand owned by Mulk Holdings. The business has grown to become the biggest ACP and MCM brand in the world, with 25 million square metres of production and processing space spread among its sites in Europe, the United Arab Emirates, Turkey, Ghana, and India. A2 Mineral Core ACP, B Mineral Core ACP, Solid Aluminium, Honeycomb, and Exotic Metals MCM in a variety of metal skins including Galvanised Steel, Stainless Steel, Copper, Bronze, and Titanium are just a few of the Fire Rated Metal Panels that Alubond now offers as part of its extended product line. Alubond, U.S.A., a key player in the aluminum composite market, has recently invested USD 13.6 million in a new production plant in the UAE. This strategic move has boosted the company's production capacity and reinforced its position in the Middle East aluminum composite market. This investment aimed to expand their production capacity specifically for A2 fire-resistant panels. Alubond U.S.A. aims to strengthen its position in the Middle East aluminum composite market by increasing its production capabilities. This strategic move enables the company to meet the growing demand for fire-resistant panels and maintain its competitive edge.

Key Companies in the Aluminum Composite Panels Market Include

• American Building Technologies Inc. (U.S.)


• Alcoa Inc. (U.S.)


• Alumax Industrial Co.Ltd. (Taiwan)


• Yaret Industrial Group (China)


• Mitsubishi Plastics Inc.(Japan)


• JyiShyang Industrial Co.Ltd. (Taiwan)


• Guangzhou Xinghe ACP Co.Ltd. (China)


• Msenco Metal Co.Ltd. (China)

Aluminum Composite Panels Industry Developments

April 2023: Alcoa Corp. announced that it would be investing $100 million in a new ACP manufacturing plant in China. This investment is a sign of the growing demand for ACP in the Chinese market.

May 2023: the International Building Code (IBC) updated its requirements for ACP. The new requirements make ACP a more viable option for use in exterior wall cladding.

June 2023: the American Architectural Manufacturers Association (AAMA) released a new standard for ACP. The new standard provides more detailed guidance on the performance and installation of ACP.

January 2021: UAE based manufacturing house called Alucopanel announced the release Middle East's first government-approved non-combustible grade A1 Aluminum Composite Panel (ACP), recommended for construction projects requiring very high fire protection such as high-rise buildings/schools/hospitals/malls etc., This revolutionary A1 core technology does not allow flames spreading within any building if there is fire.

Aluminum Composite Panels Market Segmentation

Aluminum Composite Panels Type Outlook

• Fire Resistant


• Anti-bacterial


• Anti-Static

Aluminum Composite Panels Application Outlook

• Building & Construction


• Advertising boards Transportation

Aluminum Composite Panels Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America