The global aluminum composite panels market size is expected to reach USD 8.27 billion by 2025 registering a CAGR of 6.4%, 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.
To request a sample copy or view summary of this report:
Further key findings from the study suggest:
- The global aluminum composite panels market was valued at USD 5.34 billion in 2018 and is expected to grow significantly during the forecast years due to rising product application scope in the construction industry
- PVDF was the largest product segment in 2018 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 2018 on account increased usage of ACPs as they are lighter than steel
- The Asia Pacific market is projected to register the maximum CAGR of 7.3% over the estimate period primarily due to increased infrastructure development and construction activities in the region
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com