Aluminum Composite Panel Market Report

Aluminum Composite Panel Market Analysis By Product (PVDF, Polyester, Laminating Coating, Oxide Film), Application (Construction, Automotive, Advertisement Boards, Railways), By Region, And Segment Forecasts, 2014 - 2025

Published: April 2017  |  110 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-437-6

Industry Insights

The global aluminum composite panel market size was estimated at USD 4.19 billion in 2015. The growing automotive production worldwide, most notably in emerging regions such as Asia Pacific, is expected to drive market growth during the forecast period.

ACPs find a vast majority of its application scope in the automotive industry to be associated with body paneling. ACPs are being increasingly used for this application to reduce overall weight of the vehicle, thereby increasing fuel efficiency and lowering maintenance costs, which are among the key factors driving the demand for advanced automotive solutions worldwide. The rapid growth of the automotive industry in key countries, such as the U.S., Germany, Russia, India, China, Japan, and South Korea, is expected to have significant impacts on the overall ACP industry during the forecast period.

U.S. aluminum composite panels market, by product, 2014 - 2025 (USD million)

aluminum composite panels market

The countries in Asia Pacific are expected to account for a large majority of the consumption demand, mainly as global automotive manufacturers are shifting their production facilities into the region to capitalize on low production costs and easy raw material availability, among others. In terms of volume consumption, the ACP industry in Asia Pacific is projected to grow at a CAGR of over 7% during the forecast period.

The automotive industry has been witnessing rapid growth over the past few years, mainly on account of large investments and high production and demand in emerging economies such as China, India, Brazil, Russia, and South Korea, among others. The growing population, urbanization, rising disposable incomes of consumers, etc. have directly impacted the demand for vehicles in recent years, globally.

In addition, the growing infrastructure development activities in emerging economies has resulted in increased demand for commercial and heavy vehicles for public transport, logistics, and industrial applications. The growth of the automotive industry is expected to have significant impacts on the overall ACP market growth during the forecast period.

PVDF-based ACPs are expected to dominate the overall industry during the coming years, mainly on account of the rising application scope in the automotive and advertisement board applications. This can be attributed to the superior properties and operational efficiency offered by the product. PVDF panels offer resistance to wear & tear, UV, corrosion, water, and are available at considerably low costs.

The value chain of the industry include raw material suppliers, manufacturers, distributors, and end users. The industry dynamics are highly dependent on the availability of aluminum and its prices. Owing to the significant price fluctuations in the aluminum industry, prices of ACPs are highly dynamic in nature, thereby resulting in altering margins to the different participants across the value chain of this industry. The manufacturers sell the products directly to consumers or supply through third-party dealers.

Product Insights

PVDF aluminum composite panels find significant application scope in key end-use industries such as construction, advertisement boards, and automotive, among others. The efficient anti-corrosion, wear resistant, durable, and lightweight properties of the product are expected to be key to the rapid growth of this segment over the forecast period. The segment led the overall industry in 2015, accounting for a share of over 30%.

The PVDF segment was followed by the polyester segment, in terms of revenue. The polyester segment accounted for over 25% share of the overall revenues in 2015. The segment is expected to witness growth to the tune of nearly 7% during the forecast period. PE ACPs offer several advantages, including light-weight, high strength, extreme rigidity, excellent surface flatness and smoothness, heat insulation, superior impact resistance, acid-resistance, sound insulation, alkali-resistance, uniform colors, and good weatherproofing, among others. The aforementioned properties of the product, along with additional benefits such as easy fabrication & processing, are expected to drive the future growth of this product segment.

Laminating coating ACP products are manufactured through processes such as multi-layer extrusion lamination. These products primarily find applications in the construction industry, for lamination applications. Product characteristics such as durability, longevity, smooth surface, high tolerance, and easy installation are expected to be key in the future growth of this product segment worldwide. This segment is expected to grow at a CAGR of over 6% during the forecast period.

Application Insights

Growing population, urbanization, and need for enhanced infrastructure have led to the rapid growth of the construction industry worldwide, most notably in emerging regions of Asia Pacific and Middle East & Africa. The construction industry has been witnessing high growth in countries such as China, India, UAE, and Qatar over the past few years. The growth of this industry worldwide, along with stringent building regulations imposed by governments regarding fire safety and others, is expected to have significant impacts on the overall ACP industry during the forecast period.

The growth of the advertising, marketing, and mass media industry worldwide has resulted in increased investments in the advertising boards segment worldwide. Advertising boards are subject to various environmental conditions such as humidity and moisture, temperature fluctuations, and pollution, among others, as a result of which the boards may face challenges such as corrosion, wear & tear, and so on. There is a growing requirement for advanced advertisement board material solutions, which could help mitigate the issues of corrosion, wear, etc., thereby minimizing maintenance costs, among other benefits. This has led to the adoption of ACPs for advertisement boards globally, thereby also driving the overall ACP industry demand, projected to grow at a CAGR of 6.2% during the forecast period.

The recent increase in use of composite materials in the railway industry has resulted in several performance improvements and significant cost reductions. Weight savings as a result of the use of composite materials has resulted in reduced power consumption, high-speed, less track wear, lower inertia, and ability to carry greater pay-loads in the industry. The railways application segment is expected to witness growth to the tune of nearly 6% in terms of volume, during the forecast period.

Regional Insights

Asia Pacific dominated the overall industry in 2015, having accounted for over 40% of the overall market revenues. The construction industry in this region is anticipated to expand at a rapid rate, especially in emerging economies such as China, India, Indonesia and Vietnam among other South-East Asian countries. The exponential rise in population in such countries, coupled with the high demand for affordable housing, and government schemes promoting basic amenities such as food & shelter, are major factors driving this expansion.

Global aluminum composite panel market, by region, 2015 (%) (USD Million)

aluminum composite panel market

North America accounted for the second-largest share in the overall market. Construction spending is anticipated to rise at a moderate rate; however, the increasing governmental schemes and initiatives to promote infrastructure in the region is conducive to the industry growth. These panels are increasingly being utilized for decorative & cladding applications to meet transitioning energy & building standards, since they foster better insulation in buildings. The ACP industry in the U.S. is projected to grow at a CAGR of nearly 7.5%, in terms of revenue, over the forecast period.

Competitive Insights

The global aluminum composite panel market is a highly competitive industry, mainly owing to the large number of sellers in the industry. Key players in the industry include Alcoa, Interplast, Aludecor, Alubond U.S.A, and 3A Composites.

Production capacity expansion, new product developments, and product customizations are expected to be the key strategic initiatives adopted by major players, with the objective of remaining competitive in this industry. The global players based out of developed regions such as North America and Europe are faced with stiff competition from Chinese manufacturers, who offer lower-priced products of relatively similar quality, thereby acquiring a major share in the international markets.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2025

Market representation

Volume in Million Square Feet; Revenue in USD Million; and CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K, France, China, India, Japan, Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global aluminum composite panel market on the basis of product, application, and region:

  • Product Outlook (Volume, Million Sq. Ft.; Revenue, USD Million, 2014 - 2025)

    • PVDFg

    • Polyester

    • Laminating Coatings

    • Oxide Film

    • Others

  • Application Outlook (Volume, Million Sq. Ft.; Revenue, USD Million, 2014 - 2025)

    • Construction

    • Automotive

    • Advertisement Boards

    • Railways

    • Others

  • Regional Outlook (Volume, Million Sq. Ft.; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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