The aluminum composite panels market size is estimated to grow from USD 6.67 billion in 2018 to USD 12.17 billion by 2027, at a CAGR of 6.92%.
The report "Aluminum Composite Panels Market by Base Coating Type (PE and PVDF), Type (Fire-resistant, Anti-bacterial, and Anti-static), Application (Building & Construction, Advertising, and Transportation), Composition, and Region – Global Forecast to 2027"
Browse 146 market data Tables and 30 Figures spread through 163 Pages and in-depth TOC on "Aluminum Composite Panels Market by Base Coating Type (PE and PVDF), Type (Fire-resistant, Anti-bacterial, and Anti-static), Application (Building & Construction, Advertising, and Transportation), Composition, and Region – Global Forecast to 2027"
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Building & construction segment is projected to grow at the highest CAGR during the forecast period.
The building & construction segment dominated the market in 2018, and is projected to be the fastest-growing application in the next five years, as a result of the rapid urbanization and demand for better quality homes. The demand for aluminum composite panels is expected to be driven by the growing building & construction and advertising industries. In the transportation industry, these panels are used in cars, rails, boats, and aircraft designs.
Core material segment, by composition, is projected to gain maximum traction
The core material segment dominated the market in 2018, and is projected to be the fastest-growing application in the next five years, as a result of its fire-resistance property. The core material is highly preferred in the construction industry.
Asia Pacific dominated the market for aluminum composite panels in 2018
China contributes a major market share in the Asia Pacific aluminum composite panels market. The recovery of the Chinese residential market in 2010 after the 2007–2009 recession and the increase in demand for low-maintenance building products are some of the factors driving the aluminum composite panels market in Asia Pacific. The market in this region is also growing rapidly due to the presence of numerous leading players.
The major players in the aluminum composite panels market in Asia Pacific include Yaret Industrial Group (China), Alumax Industrial (Taiwan), Shanghai Huayuan New Composite Materials (China), Changshu Kaidi Decoration Material (China), Guangzhou Xinghe ACP (China), Jyi Shyang Industrial (Taiwan), Mitsubishi Chemical (Japan), and Msenco Metal (China).
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