Global Aluminium Composite Panel (ACP) Market - Segmented Top Coating, Application, End-user Industry, and Geography - Trends and Forecast (2018 - 2023)
The global Aluminum Composite Panel market is expected to register a CAGR of 6.25% during the forecast period, 2018 - 2023. Aluminum Composite Panel (ACP) is a flat panel crafted out of two aluminum alloy sheets bonded with a non-aluminum core, so as to form a composite. It is used as cladding or facade material of buildings, insulation, and signage. In addition, ACPs have many applications in the automotive industry, associated with body paneling.
Demand for Strong and Lightweight Materials in Construction
ACPs are lightweight and have an impressive strength to weight ratio. They provide improved rigidity and durability, weather and UV resistance, superior thermal and sound insulation, and resistivity to harsh conditions, such as acids, alkali salts, and pollution. Owing to these factors, they find widespread applications in interior decorations, claddings, building exterior wall insulations and coverings, and exterior and interior components of transportation vehicles, such as ships, trucks, and passenger cars, among others. The construction industry has been witnessing rapid growth over the past few years, mainly on account of large investments and demand for infrastructure in emerging economies, such as China, India, Brazil, and Russia, among others.
PVDF Coating-Based Sub-segment Occupied the Largest Share
The demand for PVDF-based ACPs from automotive and advertisement hoardings is expected to rise throughout the forecast period. This demand can be attributed to the superior properties and operational efficiencies of the product. PVDF-based ACPs offer efficient resistance to wear and tear, rigidity, and most importantly, cost benefits, such as low cost of installations and operational maintenance during the usage period. Moreover, the demand for PVDF based ACPs is growing from aircraft industry, where weight-saving and mechanical performance are essential.
Asia-Pacific Dominates the Market
In 2017, Asia-Pacific was the largest consumer of aluminum composite panels.Factors, such as, growing construction activities and preference for low maintenance building products, are favoring the market’s growth. Large scale investments on hotels by the tourism departments of ASEAN countries provide lucrative opportunities for the growth of the market, owing to their use in interior decoration purposes for aesthetic appeal. Other factors such as rise in population and increase in income levels are accelerating the per capita spending on construction.
March 2016: In March 2016, Constellium announced that the signing of a contract with Airbus, to support all its leading aircraft programs. Under the new agreement, Constellium will supply Airbus with a broad range of advanced aluminum products for airframes, including wing skin panels, aero-sheets for fuselage panels, and rectangular and pre-machined plates and panels for structural components
March 2018: Victoria's new guidelines designed to discourage the use of polyethylene-core aluminum cladding on high-rise buildings have created confusion over buildings under construction
Major Players: 3A Composites, Alcoa, Constellium, Guangzhou Xinghe ACP, and Jyi Shyang Industrial, amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application and end-user industry used in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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