The global aluminum composite panel market size is expected to reach USD 10.33 billion by 2030, expanding at a CAGR of 4.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Superior properties of ACPs, including corrosion and wear resistance and fire protection renders the product very useful for external cladding, ceiling, flooring, and internal wall cladding functions in the construction industry. Thus, rapid growth of the construction and infrastructure industries, most notably in emerging economies, is expected to drive the market. Growing automotive production in emerging countries coupled with rising usage of ACPs, as they are lighter than steel, is expected to benefit the overall market growth.
In addition, recyclability of automotive aluminum scrap is also likely to provide impetus to the consumption of product in automotive application. Eco-friendly characteristics of ACPs coupled with increasing adoption of green buildings is projected to fuel the product demand over the forecast period. Thermal and acoustic insulation offered by the product is also projected to increase its applications in modern construction. The market is moving towards consolidation on the back of the increasing application scope of the product. However, lack of process integration and competitive pricing strategies are expected to keep the competitive rivalry high in the global market over the forecast period.
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PVDF was the largest product segment in 2022 and is estimated to expand further due to high product demand as a result of superior properties, such as resistance to wear & tear, UV, and corrosion
The construction sector is anticipated to witness the highest CAGR over the forecast period on account of rapidly expanding construction industry in emerging economies, such China, India, and Brazil
Passenger cars emerged as the largest end-use segment in 2022 on account increased usage of ACPs as they are lighter than steel
The Asia Pacific market is projected to register the maximum CAGR of over the estimate period primarily due to increased infrastructure development and construction activities in the region
Grand View Research has segmented the global aluminum composite panel based on technology, application, and region:
Aluminum Composite Panel Product Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)
Aluminum Composite Panel Application Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)
Aluminum Composite Panel Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)
Central & South America
Middle East and Africa
List of Key Players in Aluminum Composite Panel Market
Mitsubishi Engineering-Plastics Corporation
Shanghai Yaret Industrial Group Co., Ltd.
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