The global aluminum composite panel market revenue is expected to expand at a significant CAGR over the forecast period. Extensive investments in industries and infrastructure development, and rise in construction projects and activities in countries across the globe are among some of the primary factors expected to drive market growth over the forecast period.
Global aluminum composite panel market report has been segmented on the basis of product type, coating base, application, and region.
On the basis of type, the target market is segmented into fire-resistant, antibacterial and antistatic.
On the basis of coating base, it is segregated into PE (Polyester), PVDF (Polyvinylidene Fluoride) and others. Among the coatings segments, the PVDF segment accounts for largest market share due to product features such as long lasting, durable finish for wall cladding applications, and aesthetics.
On the basis of application, the market is segmented into building & construction, advertising boards, and transportation. The target market is dominated by the building & construction segment owing to factors such as rise in disposable income among consumers in developed as well as developing economies, and construction of new houses and projects.
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Based on region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to account for highest share in terms of revenue over the forecast period, owing to growing automotive production and rise in building & construction activities in countries in the region. Markets in China, India, Japan, South Korea, and Thailand are expected to witness significant demand for vehicles, which will further contribute to revenue growth of the global market over the forecast period. Moreover, increasing disposable income and growing purchasing power will enhance revenue share of the market in Asia Pacific.
Key players operating in the global aluminum composite panel market include Arconic, Yaret Industrial Group, 3A Composites, Alubond U.S.A., Alumax Industrial CO., LTD., Shanghai Huayuan New Composite Materials Co. ltd., Changshu Kaidi Decoration Material Co., Ltd., Guangzhou Xinghe Acp Co Ltd., Mitsubishi Chemical (Mitsubishi Chemical Corporation), ALUCOMAT (Jyi Shyang Industrial Co., Ltd.), among others.
Recently, in 2017, Archicom, which is an aluminum composite materials producer entered the Africa market, with the introduction of aluminum composite panel products.