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Aluminum Composite Panels Market Size, Share & Industry Analysis, By Product (Polyvinylidene Difluoride, Polyester, Laminating Coating, Oxide Film, and Others), By Application (Building & Construction, Advertising Boards, Automotive, By Vehicle {Cars, By Parts [Doors, Hoods, Wings, Side Panels, and Others], Commercial Vehicles, and Trailers}, Railways, and Others), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI102304

 

KEY MARKET INSIGHTS

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The global aluminum composite panels market size was valued at USD 5.33 billion in 2018 and is projected to reach USD 8.71 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period.

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 Aluminum composite panels (ACP) are composed of two pre-coated, thermally bonded aluminum skins on either side of the non-toxic polyethylene (PE) core. They are basically flat panels that are made of Al composite material comprising of two thin coil-coated sheets of aluminum bonded to a non-aluminum core. ACPs are also used for building exterior facades or cladding, signage, and insulation. Aluminum composite panel sheets are also used for outdoor signs and letter backing for channels.


MARKET TRENDS


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Robust Growth of Advertising Industry to Drive the Market Growth


Outdoor advertising, also known as out-of-home (OOH) advertising, is one of the oldest types of advertisements that is used to advertise public-domain goods and services. This form of advertisement focuses on the customers present in public places and in transit, while positioning their advertisements around parks, metro, malls, highways, shopping centers, and bus and train stations. Outdoor advertising is a marketing tool for businesses seeking to reach a broader audience. Also, these ads are displayed on billboards, hoardings, posters, buses, cars, and kiosks. Billboards and transit ads are among the most favored promotional modes. Clear, appealing, and insightful ads typically capture the attention of a large audience.


As it cannot be missed or ignored in outdoor environments by customers, the out-of-home (OOH) medium has remained the central platform for reaching a mass urban audience. This growing expenditure on outdoor advertising services can be attributed primarily to the cost-effective aspect of this medium, especially the outdoor advertising billboard segment, which is being used by leading players in the FMCG, BFSI, hospitality, and e-commerce sectors. Compared to static billboards, digital billboards are showing rapid growth due to the declining prices of LCD and LED display technologies and the emergence of a programmatic marketplace.


Aluminum composite panels are most commonly used for signage production. ACP can be used to make a variety of flexible outdoor signs due to the use of signage and hoardings for external applications and the need to withstand changes in temperature and environment. Hence, ACP is the perfect material, in this case, to cater to such applications. They are used for producing exterior, interior, and signage applications. They are typically accessible in a wide variety of colors and finishes, such as stone, wood, dual-tone, and more. ACP can be bent, folded, and twisted into forms.


MARKET DRIVERS


Increasing Demand from Building & Construction Industry is Driving the Aluminum Composite Panels Market


The global construction industry is the world's largest consumer of raw materials. The industry is projected to expand at 4.2% annually in terms of market value, due to the growth in residential, non-residential, and infrastructure projects. An increase in building growth in India is boosting the construction industry. The U.S. construction industry is expanding rapidly due to a strong economy and positive market conditions for commercial real estate along with an increase in federal and state grants for public infrastructure, and institutional development. The European construction industry is growing at a rapid pace due to low interest rates, strong economic growth, and pent-up needs. The growth in Europe is backed by the residential, non-residential, and civil engineering sectors, both new and renovated. According to Business Monitor International (BMI), European construction exhibited real growth of 2.4% in 2018, backed by an improved outlook for commodity prices, increased trust in the industry, increased demand, and stronger exports. Emerging economies such as Argentina, Brazil, and Chile have showcased real GDP growth increases every quarter. Emerging countries are pursuing highly competitive, effective, and environmentally friendly lifting technologies. As these countries have highly dense urban areas, cranes with vertical lifting features are high in demand. It is projected that half of the global construction spending is coming from the countries in the Asia Pacific, with China, Indonesia, Japan, South Korea, and Malaysia showing the greatest potential for expansion.


These panels are common construction materials that are used in different buildings. The most striking characteristics of the ACP sheets are their low cost and durability. The inexpensive price of the composite panel made of aluminum makes it favorable for building purposes. The composite content of aluminum can also withstand a high wind load. Since it can be washed and cleaned at any point, they also remove needless expenses such as repairing. Thus, the growing building & construction industry is expected to drive the market for aesthetic purposes.


Growth in Automotive Industry to Drive the Market


In 2018, the global demand for automobiles remained steady. China remained stable to positive, the U.S. and European industries were growing at a moderate pace. China alone accounts for one-third of the automotive industry. The global macroeconomic conditions are likely to create opportunities for steady car sales. Steady growth in the U.S. and economic progress in Europe would boost earnings from manufacturers.


Asia Pacific exhibited real GDP growth led by China and India, two main markets for the automotive industry. The sales of light-duty vehicles in Europe, particularly in Germany, France, Italy, and Russia are boosting the automotive industry. The credit quality of the automotive and auto component industries in Japan is likely to remain steady during the forecast period. Sales of new cars in Japan have increased and the strong demand for small vehicles has been driving the automotive industry. India became the fourth largest automobile market in 2018 with sales growing up to 3.99 million units by 8.3% year-on-year. In 2018, it was the seventh-largest commercial vehicle producer.


In terms of style and function, ACPs are used in vehicles for aesthetic purposes. The panels can be used as padding, noise dampers, or even to add elegance and style. These panels, which serve the purpose and add elegance, can also be used within vans and buses. Such panels serve as a heat retainer and are excellent. ACPs are lightweight, compression-resistant, provide high rigidity, have fire protection, no combustibility, no harmful gases, are simple to install, reduce time and installation costs, and have high acoustic insulation. Growing demand for these panels in the automotive sector is projected to boost market growth.


MARKET RESTRAINT


High Repairing Cost of Aluminum Composite Panels to Hinder Growth


To maintain rigidity and increasing the panel's longevity & durability, regular maintenance of aluminum composite panels is necessary. Proper cleaning is also necessary if dust accumulation is to be avoided and any organic growth is to be prevented. Such panels also assist in preserving the building's appearance. However, if bent or dented, it's difficult to patch the damaged component without damaging the aluminum composite panel's aesthetic qualities. If not properly assembled, these panels can be easily dented. That can also cause damage to the panel's original structure. The cost and time associated with repairing may therefore be a major challenge faced by the manufacturers of aluminum composite panels. Nevertheless, emerging technologies such as premade adhesive film lamination and extrusion lamination aid in avoiding these causes. But, the costs associated with such technologies are very high. Hence, it is posing a challenge.


SEGMENTATION


By Product Analysis


Polyvinylidene Difluoride Segment to Gain Impetus During the Forecast Period


Based on type, the aluminum composite panels market is classified into polyvinylidene difluoride, polyester, laminating coating, oxide film, and others. The polyvinylidene difluoride segment held the major share of the market. The polyvinylidene difluoride (PVDF) segment is expected to expand at a rapid pace during the forecast period due to the growing usage of PVDF in films, sheets, membranes, and coating in various industries such as chemical manufacturing, oil & gas, construction, and electricity. PVDF is primarily used in applications that need a high degree of resistance, solvent purity, and excellent resistance.


ACP laminating coatings are provided by multi-layer extrusion lamination and are used mainly for lamination applications in the construction industry.


By Application Analysis


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Building & Construction Segment to Account for the Major Share during the Forecast Period


In terms of application, the market is segmented into building & construction, advertising boards, automotive, railways, and others. The demand for aluminum composite panels is driven by the growing standardization of architecture, which has increased the need to install these panels owing to the superior quality of toughness, fire resistance, antibacterial and weather-proof properties provided by aluminum composite panels. In the Asia Pacific, increased use of these panels is due to the expansion of the building & construction industry.


Despite the rapid urbanization and high disposable income, customer preference is changing to personal cars rather than public transportation which are likely to boost the demand for passenger cars and thus drive the growth of the global aluminum composite panel market. In addition, the marginal decrease in petrol, diesel, and compressed natural gas (CNG) prices and the surge in motor vehicle rates would draw significant numbers of customers to buy personal automobiles.


REGIONAL ANALYSIS


Asia Pacific Aluminum Composite Panels Market Size, 2018 (USD Million)

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The market size in the Asia Pacific stood at USD 2,091.6 million in 2018. In terms of demand, Asia Pacific has constituted the key share of the global market. The rapidly growing construction industry is anticipated to drive the regional market, particularly in China, India, Indonesia, and Vietnam. Rising development coupled with the government schemes supporting basic services and strong demand for affordable housing is also among the key drivers of growth in the region. China is expected to boost the market due to the rising building & construction industry. Japan is projected to drive the market in the Asia Pacific with its growing inclination towards convenient and healthy building materials.


The growing number of green buildings is expected to further drive the demand in the Asia Pacific. Increasing schemes and policies in North America to encourage better infrastructure is promoting development in the country. In addition, growth is expected to increase as panels are increasingly being used for cladding and decorative applications to meet the transitional energy and building needs. Increased electric and hybrid vehicle production is expected to drive the market in North America.


KEY INDUSTRY PLAYERS


Key Players Focus on Blending Strategies to Maintain Their Dominance in the Market


The global aluminum composite panels market is highly competitive, as major players are concentrating on the production of new products with superior features and also show their brand value through well-known branded goods. Production capacity expansion and product customizations are also expected to be among the key strategic initiatives adopted by these companies to gain competitive advantages. The global companies in developed regions such as North America and Europe are facing strong price competition from the manufacturers based in China. Arconic, Yaret Industrial Group Co., Ltd., 3A Composites Holding AG, Alubond U.S.A, ALUMAX INDUSTRIAL CO., LTD., Changshu Kaidi Decoration Material Co Ltd, Jyi Shyang Industrial Co. Ltd, Mitsubishi Chemical Corporation, Guangzhou Xinghe Aluminum Composite Panel Co., Ltd., Fairfield Metal LLC, and others are the leading companies in the market.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • July 2017 – Fairview Architectural acquired the Stryum business, an intelligent non-combustible aluminum cladding system, from Vitekk Industries. The company includes a variety of high-quality aluminum plate façade panels designed to provide durability and sustainability, complimenting Fairview's current portfolio of cladding solutions, including high-density cement fibre, natural stone, terracotta tiles and the leading non-combustible composite aluminum frame.


REPORT COVERAGE


An Infographic Representation of Aluminum Composite Panels Market

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The aluminum composite panels market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.


Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



   2015-2017



Unit



  Value (USD Million) and Volume (Million Square Feet)



Segmentation



By Product



  • Polyvinylidene Difluoride

  • Polyester

  • Laminating Coating

  • Oxide Film

  • Others



By Application



  • Building & Construction

  • Automotive

    •  Cars

      • Doors

      • Hoods

      • Wings

      • Side Panels

      • Others



    • Commercial Vehicles

    • Trailers



  • Advertising Board

  • Railways

  • Others



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, UK, France, and Rest of Europe)

  • Asia Pacific (China, India, Japan, and Rest of Asia Pacific)

  • Central & South America (Brazil, and Rest of Central & South America)

  • The Middle East & Africa (Saudi Arabia, and Rest of Middle East & Africa)



Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 5.33 billion in 2018 and is projected to reach USD 8.71 billion by 2026.

In 2018, the market value stood at USD 5.33 billion.

Growing at a CAGR of 6.1%, the market will exhibit steady growth in the forecast period (2019-2026).

The polyvinylidene difluoride segment is expected to be the leading segment in this market during the forecast period.

Increasing demand from the building & construction industry is driving the market.

Asia Pacific held the highest market share in 2018.

Robust growth of the advertising industry is driving the global market

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Aluminum Composite Panels Market Size, Share and Global Industry Trend Forecast till 2026
  • May, 2020
  • 2018
  • 2015-2017
  • 120

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