Aluminum Composite Panels Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Aluminum Composite Panels Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Aluminum Composite Panels Global Market Report 2024, The aluminum composite panels market size has grown strongly in recent years. It will grow from $6.13 billion in 2023 to $6.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to architectural growth and modern construction trends, increasing urbanization and infrastructure development, durability and weather resistance, versatility in design and aesthetic appeal, cost-effectiveness and material efficiency.

The aluminum composite panels market size is expected to see strong growth in the next few years. It will grow to $8.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainable construction practices, rising popularity of prefabricated construction, increasing demand in automotive and transportation, expansion of the retail and commercial sector, global economic growth and construction activities. Major trends in the forecast period include technological innovations in coating and finishing, innovations in coating technologies, digital printing on acp surfaces, rapid urbanization and construction activities, shift towards 3d acp applications.

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.

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The aluminum composite panels market covered in this report is segmented –

1) By Panel Type: Fire-Resistant, Antibacterial, Antistatic
2) By Base Coating Type: PVDF (Polyvinylidene Fluoride), Polyester, Laminating Coating, Oxide Film, Other Base Coatings
3) By End-Use: Building And Construction, Automotive And Transportation, Industrial, Advertising, Other End-Uses

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 July 2023, Aludecor, an India-based company that manufactures aluminium composite panels launched its much-anticipated aluminum honeycomb panels called Nexcomb, which are capable of ushering in a new age of architectural possibilities. This innovative product features Aludecor’s own honeycomb core production, offering a unique blend of lightweight strength and limitless potential for various applications.

The aluminum composite panels market report table of contents includes:

1. Executive Summary
2. Aluminum Composite PanelsMarket Characteristics
3.Aluminum Composite Panels Market Trends And Strategies
4.Aluminum Composite Panels Impact market analysis
5.Aluminum Composite Panels Market Size And Growth
6.Aluminum Composite Panels Segmentation
7.Aluminum Composite Panels Regional And Country Analysis
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27.Aluminum Composite Panels Competitive Landscape And Company Profiles
28. Aluminum Composite PanelsKey Mergers And Acquisitions
29.Aluminum Composite Panels Future Outlook and Potential Analysis

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