Aluminum Composite Panel (ACP) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The aluminum composite panel (ACP) market is expected to register a CAGR of over 6% during the forecast period. An aluminum composite panel (ACP) is a flat panel crafted out of two aluminum alloy sheets bonded with a non-aluminum core to form a composite. It is used as cladding or facade material in buildings, insulation, and signage. In addition, ACPs have many applications associated with body paneling in the automotive industry.

The increasing demand for PVDF-based aluminum composite panels is expected to drive the market demand during the forecast period. The availability of cheaper alternatives is likely to hinder market growth.

Large-scale investments in hotels in ASEAN countries are projected to act as an opportunity for the market in the future.

Scope of the Report

The aluminum composite panel (ACP) market is segmented by top coating, application, end-user industry, and geography. By top coating, the market is segmented into PE, PVDF, and other top coatings. By application, the market is segmented into interior decoration, hoarding, insulation, cladding, railway carrier, column cover and beam wrap, and other applications. By end-user industry, the market is segmented by building and construction, transportation, and other end-user industries. The report also covers the market sizes and forecasts for the aluminum composite panel (ACP) market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

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Key Market Trends

Demand for Strong and Lightweight Materials in Construction

ACPs are lightweight and have an impressive strength-to-weight ratio. They provide improved rigidity and durability, weather and UV resistance, superior thermal and sound insulations, and resistivity to harsh conditions, such as acids, alkali salts, and pollution.

Owing to the aforementioned factors, they find widespread applications in interior decorations, claddings, building exterior wall insulations and coverings, and exterior and interior components of transportation vehicles, such as ships, trucks, and passenger cars, among others.

The construction industry has been witnessing rapid growth in the past few years, mainly on account of the large investments and demand for infrastructure in the emerging economies, such as China, India, Brazil, and Russia, among others.

Currently, the construction industry is majorly witnessing strong growth in the Asia-Pacific and the Middle-East and African regions.

In the Asia-Pacific region, India is anticipated to remain the fastest-growing G20 economy. The Indian government announced a target of USD 376.5 billion investment in infrastructure over a period of three years, including USD 120.5 billion for developing 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects.

In the Middle East, Qatar is expected to be among the fastest-growing construction markets globally till 2022. Qatar’s construction market, with a projected growth of 12.1% between 2017 and 2021, is expected to benefit from the investment in the preparations of the FIFA World Cup 2022, which Qatar is hosting. This is anticipated to further influence the growth in sales and applications of ACP in the construction sector in that particular region.

All the aforementioned factors are expected to increase the demand for ACPs during the forecast period.

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