Pre-painted Aluminum Sheets Market Size, Share & Trends Analysis Report By Thickness (Under 2.5 mm, 2.5 mm - 3.0 mm), By Application (Aluminum Composite Panels, Signages & Boards), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The global pre-painted aluminum sheets market size was valued at USD 6.02 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8 % from 2023 to 2030. The rising investments in the construction industry along with a rise in the number of commercial office buildings, retail stores, warehouses, and government infrastructures, which are generally made up of metal, are expected to drive the market growth. The growing importance of aluminum composite panels (ACPs) is another growth driver for the market. ACPs can be utilized for the exterior or interior of an infrastructure. Their main purpose is to support the dead wall and improve the building's aesthetics. Factors such as customer satisfaction and competition have pushed hotel & restaurant owners to upgrade the aesthetic look of their buildings, which has increased the consumption of panels and façades.

The growth of the construction industry in the U.S. is a key factor contributing to the demand for pre-painted aluminum sheets in the country. For instance, the country witnessed a growth rate of 5.2% on a y-o-y basis, when the U.S. construction spending reached USD 1,844.1 billion in February 2023, as per the U.S. Census Bureau. The rising investment in the construction industry is expected to propel the demand for the product.

The market is driven by increasing investments in the construction of new residential buildings across the world. For instance, in August 2021, Egypt announced an addition of approximately USD 64 million (EGP 10 billion) to its Housing for All Egyptians initiative. Under this initiative, the government of the country is planning to develop 500,000 residential units by 2025.

Growth in the residential sector prompts consumers to spend increasingly on HVAC systems and decoration of houses with glass panels, cladding, façade, composite partitioning walls, and roofing. Thus, the construction of new residential buildings worldwide is projected to augment the product demand over the forecast period.

The surging product demand, however, faces slight restrictions owing to the variations in aluminum prices. The product faces price fluctuations owing to a sudden surge in demand, geopolitical conflicts, and a demand-supply gap. For instance, in the latter half of 2021, China cut down on its domestic aluminum production, which caused price hikes in both domestic as well export markets.

Thickness Insights

Based on thickness, the 2.5mm - 3.0mm segment held the largest revenue share of more than 79.0% in 2022. The thickness of sheets between 2.5 mm to 3.0 mm makes it an excellent option for bending and surface coating purposes. The high corrosion resistance and strength help drive the demand for 2.5 mm-3.0 mm thick pre-painted aluminum sheets.

In the construction industry, the product is mainly used for exterior and interior wall paneling with ACPs and façades. The rising demand for ACPs has compelled key players to take strategic initiatives to manufacture eco-friendly aluminum sheets and provide a sustainable option in a competitive market.

The under 2.5mm thickness segment is anticipated to register a growth rate of 4.1%, in terms of revenue, across the forecast period. The demand is attributed to the rising demand for thinly coated aluminum sheets and coils that find application in the construction & automotive industries where properties such as high strength, corrosion resistance, and ductility are required with lightweight.

Application Insights

Based on application, the aluminum composite panels accounted for a revenue share of over 58.0% in 2022. ACPs are frequently used for façades, signs, and architectural cladding. They are also employed in interior design projects that involve decorative signage, ceiling panels, and wall partitions. Compared to its counterparts, such as timber and tiles, the ACP offers more features. The demand for its applications surged owing to its low cost, high quality, and lightweight properties.

Façade is another vital application of the market, that is expected to grow at a CAGR of 4.9%, in terms of revenue, over the forecast period. Pre-painted aluminum sheets are used for interior and exterior cladding façades. These are used in the development of structures where the performance, decoration, and safety parameters are of the highest priority. One of the most important advantages of aluminum is its high strength-to-weight ratio. Hence, aluminum sheet façades are used in skyscrapers as they can bear the weight of heavy glass spans.

Durability is another key advantage offered by these façades over others. These are renowned for their high corrosion resistance. They are also resistant to weathering and hold up well in both humid and dry regions. In addition, these remain brittle-free in cold temperatures.Thus, their usage in construction applications results in significant cost savings.

Regional Insights

Asia Pacific dominated and accounted for over 51.0% share of global revenue in 2022. Increasing manufacturing activities and surging foreign investments are the key drivers fueling the growth of the market in Asia Pacific. The flourishing end-use industries such as automotive, aerospace, and building & construction in the region are also anticipated to contribute to the increased consumption of pre-painted aluminum sheets in the Asia Pacific from 2023 to 2030.

Growing investments in public infrastructures and construction projects are anticipated to drive the demand for the market in North America. For instance, in April 2022, the Government of Canada allocated USD 4 billion in its 2022 budget to launch the “Housing Accelerator Fund” for building 100,000 affordable homes over the next five years. Pre-painted Aluminum sheets are extensively used in various construction-related applications such as façades, doors, partitions, and windows.

Middle East and Africa are expected to register a growth rate of 4.1%, in terms of revenue, over the forecast period. Countries in the region are developing at a fast pace owing to the ongoing rapid industrialization and urbanization in the region. For instance, in March 2021, the UAE invested USD 81.68 billion for the expansion of its manufacturing industry as a part of its economic diversification plan into non-oil sectors. These factors are accelerating investment in resorts, hotels, artificial islands, and luxury residential projects, thereby leading to the growth of the market.

Key Companies & Market Share Insights

The key market players engage in various strategic initiatives to gain a higher market share in the industry. For instance, in November 2022, AZZ Inc. announced the construction of a new coil coating facility in Washington to increase its production capacity and cater to the rising demand for sustainable aluminum coil products. With this new advancement, the company will be able to meet the requirements of its customers and help them with a modern and new form that will be useful in construction, hotel, and restaurants. Some prominent players in the global pre-painted aluminum sheets market include:

• Alucosuper New Materials Co., Ltd.

• Arconic

• Cascadia Metals

• Ertegan BV

• ITALCOAT S.r.l.

• Novelis

• Richard Austin Alloys.

• Stek Color Aluminium

Pre-painted Aluminum Sheets Market Report Scope

Global Pre-painted Aluminum Sheets Market Report Segmentation

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global pre-painted aluminum sheets market report based on thickness, application, and region.

• Thickness Outlook (Volume, Kil0tons; Revenue, USD Million, 2018 - 2030)

  • Under 2.5mm

  • 2.5mm - 3.0mm

  • Others

• Application Outlook (Volume, Kil0tons; Revenue, USD Million, 2018 - 2030)

  • Aluminum Composite Panels

  • Signages & Boards

  • Facades

  • Vehicle Parts

  • Others

• Regional Outlook (Volume, Kil0tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Turkey

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa