Aluminum Composite Panels Global Market Report 2023

Major players in the aluminum composite panels market are 3A Composites GmbH, Mitsubishi Chemical Corporation, Guangzhou XingHe Aluminum Composite Panel Co. Ltd., Shanghai Huayuan New Composite Materials Co.

New York, June 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aluminum Composite Panels Global Market Report 2023" - https://www.reportlinker.com/p06466575/?utm_source=GNW Ltd., Jyi Shyang Industrial Co. Ltd., Alumax Industrial Co. Ltd., Changshu Kaidi Decoration Material Co. Ltd., Alubond (Mulk Holdings Group), Hyundai Alcomax Co. Ltd., Yatai Industrial Group Co. Ltd., Fairfield Metal LLC, Yaret Industrial Group, Shyang Industrial Co. Ltd., Msenco Metal Co. Ltd, and Alstrong Enterprises India (Pvt) Ltd.The global aluminum composite panels market is expected to grow from $5.66 billion in 2022 to $6.13 billion in 2023 at a compound annual growth rate (CAGR) of 8.25%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aluminum composite panels market is expected to reach $8.19 billion in 2027 at a CAGR of 7.49%.The aluminum composite panels (ACP) market consists of sales of non-combustible ACP (non-fire rated grade), 3 mm ACP, 4 mm ACP, and 6 mm ACP.Values in this market are "factory gate" values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.An aluminum composite panel (ACP), also known as a sandwich panel, is a type of building material used in interior design, architecture, and construction. It consists of two thin aluminum sheets joined to a non-aluminum core, usually constructed of polyethylene (PE) or a core filled with fire-retardant minerals.Asia-Pacific was the largest region in the aluminum composite panels market in 2022.North-America is expected to be the fastest-growing region in the forecast period.The regions covered in the aluminum composite panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of aluminum composite panels are fire-resistant, antibacterial, and antistatic, with various base coatings included, such as PVDF (polyvinylidene fluoride), polyester, laminating coating, oxide film, and others.Fire resistance refers to being resistant to fire for a specified time under conditions of standard heat intensity.Fire-resistant ACP panels are designed to minimize the risk of fire spread and comply with building codes and regulations related to fire safety. These are used for several end-uses, such as building and construction, automotive and transportation, industrial, advertising, and others.The increasing demand from the building and construction industry is expected to propel the growth of the aluminum composite panels (ACP) market going forward.The building and construction industry refers to the sector of manufacturing and trade that is concerned with developing, maintaining, and repairing infrastructure.Aluminum composite panels are used as building materials in construction due to their lightweight and durable material, design flexibility, energy efficiency, and cost-effectiveness.These panels are utilized in the building that is composed of combustible or non-combustible thermoplastic material used in the exterior and interior of the building.For instance, in 2022, according to a report shared by ToolSense, an Austria-based software company related to construction, facility services, mining, agriculture, logistics, or manufacturing, in the USA, the number of housing units built in 2021 was 1,337,800, which was a 4% rise over the previous year.Between March and July 2020, the volume of residential buildings rose by 275%.Therefore, the increasing demand from the building and construction industry is driving the growth of aluminum composite panels.Product innovations are key trends gaining popularity in the aluminum composite panels (ACP) market.Companies operating in the aluminum composite panels market are adopting new technologies to sustain their position in the market.For instance, in January 2020, Mitsubishi Chemical Corporation, a Japan-based chemicals company, launched ALPOLIC, its new aluminum composite material.This is the first ACM in the world to be accredited to the Euroclass A1 standard, which is regarded as one of the most stringent fire protection requirements in the world for construction materials.It is a three-layered composite material created by adhering two aluminum sheets to the front and back of a core material.The growth in the automotive industry is expected to propel the growth of the aluminum composite panels market going forward.The automotive industry refers to an industry that comprises all businesses and endeavours engaged in the production of motor vehicles, including the majority of their parts.Aluminum composite panels are utilized in the automobile industry in automobiles’ rear walls, roofs, floors, and doors the essential strength without adding undue weight to the vehicle. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the growth in the automotive industry is driving the growth of the aluminum composite panels market.The countries covered in the aluminum composite panels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The aluminum composite panels market research report is one of a series of new reports that provides aluminum composite panels market statistics, including aluminum composite panels industry global market size, regional shares, competitors with a aluminum composite panels market share, detailed aluminum composite panels market segments, market trends and opportunities, and any further data you may need to thrive in the aluminum composite panels industry. This aluminum composite panels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06466575/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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