In a recent published report, Kenneth Research has updated the market report for Aluminum Composite Panels Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Aluminum Composite Panels Market products.
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The global Aluminium Composite Panels Market was valued at USD 4.81 billion by 2017, growing with 6.4% CAGR during the forecast period, 2018-2025
Aluminium Composite Panels (ACP) is a flat sheet crafted by bonding two aluminium sheets by using non-aluminium core. This combination is widely employed as cladding, insulation, and signage. In contemporary times, ACPs are characterized by exquisite properties like elegant finishing, efficiency, and cost-effectiveness.
ACPs are lightweight with excellent strength to weight ratio. The demand for cutting-edge automobile solutions for making light-weight vehicles with better fuel economy and lower cost of maintenance has been instrumental in the ever-increasing use of ACP products. These products are durable, robust and UV resistant. Owing to these properties, the material is widely accepted in transportation vehicles like cars, trucks and ships. On contrary, the industry highly depends on the aluminium availability and its cost. Because of price fluctuations, the cost of ACPs is volatile in nature, which is the major challenge of market.
Product wise, the industry is bifurcated into Polyvinylidene Fluoride, Laminating Coating, Oxide Film, and Polyester. PVDF based ACPs dominates the overall industry by virtue of its superior properties and operational efficiency. PVDF panels have high resistance to UV rays, corrosion, water, wear and tear. Being economical, this product is more desirable for automobile manufacturers. Moreover, PVDF ACPs have a huge demand in end-use industries like advertisement boards, and construction.
PVDF segment is closely followed by polyester segment and it has a decent market share. Salient features of polyester ACP like lightweight, high strength, extreme rigidity, heat insulation, smoothness, and surface flatness would shape the growth of this segment in future. Likewise, laminating coating products with its exquisite characteristics like longevity, and high tolerance will facilitate the segment growth.
Application segment is categorized as Construction, Railway, Automotive and Advertising boards. The global construction industry complements the growth of ACP market. In this ever-increasing population, urbanization, necessity of enhanced infrastructures, and stringent building regulations laid down by the government in dealing with issues like fire safety will have a favorable impact on construction application growth.
Moreover, there is a growing demand for advanced advertisement board material solutions that will be helpful in addressing issues like corrosion etc. so that maintenance costs can be kept low. Hence, there is an increase in the adoption of ACPs for advertisement boards which is escalating the overall ACP industry demand.
In 2017, Asia-Pacific was leading the market of aluminium composite. Aspects like increase in construction activities coupled with rising demand for low maintenance building products will give a favourable growth to the industry. In addition, steep increase in expenditure on hotel industry will further cater lucrative opportunities as hotels use ACPs for attractive interior decoration. North America has the second-largest share in this market. Rise in favourable government schemes and the steps taken to promote infrastructure will give a positive impact to the industry.
Some of the renowned companies in the ACP industry are Alubond, Alcotex , Fairfield Metal, Mitsubishi Plastics, Aludecor, Alcoa, Euramax, Interplast, and Yaret. Companies are actively engaged in strategic partnership to expand their market presence. For instance, in January 2017, Guangzhou Goodsense Decorative Building Materials partnered with Saudi-Egyptian company Wellbond to construct an ACP factory in Ataka. It is estimated that this is going to be a USD 100 million project that will be jointly financed by China, Egypt, and Saudi Arabia. The bulk of the produce from this factory is likely to cater to the domestic demand and a certain percentage of the net produce will be reserved for exports.
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The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
Polyvinylidene Fluoride (PVDF)
MARKET, BY APPLICATION
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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