An aluminum composite panel is a type of composite material, consisting of two aluminum alloy sheets attached to a thermoplastic polyethylene (PE), which is a fire-resistant metal core. It has superior mechanical properties; it is lightweight, durable, impact resistant, and can be easily cut, curved, and shaped as required. This panel is available in a variety of colors that allow architects and designers to create innovative designs for modern architectural purposes such as exterior cladding and interior decoration. MarketsandMarkets projects that the aluminum composite panels market size will grow from USD 6.29 billion in 2017 to USD 8.79 billion by 2022, at a compound annual growth rate (CAGR) of 6.92% from 2017 to 2022. The increase in demand for aluminum composites panels from the building & construction sector is driving the growth of the aluminum composite panels market.
The key players in the aluminum composite panels market are Arconic Inc. (US), Yaret Industrial Group (China), Mitsubishi Chemical (Japan), 3A Composites (Switzerland), Alubond U.S.A. (US), Alumax Industrial (Taiwan), Shanghai Huayuan New Composite Materials (China), Changshu Kaidi Decoration Material (China), Guangzhou Xinghe Aluminum Composite Panel (China), and Jyi Shyang Industrial (Taiwan). These players have adopted various strategies to expand their global presence and increase their market share. New product launches, acquisitions, and expansions, divestures, and investments are some of the major strategies adopted by the market players to achieve growth in the aluminum composite panels market.
The growth of the aluminum composite panels market was largely influenced by new product launches, acquisitions, and expansions, divestures, and investments in the past three years. The year 2014 experienced a large number of expansions, divestures, and investments by the top players in the market. New product launches led to considerable revenue generation by the companies. Most of the players in the market hold long-term contracts with their clients for the supply of aluminum composite panels. Acquisitions formed one of the key strategies adopted by companies in the past three years to gain considerable market share and focus on the core operations of the business. Considerable investments were made in technology upgradations and servicing facilities across developed and emerging markets.
Arconic is the leading company in the market. It is engaged in new product launches to provide innovative and advanced solutions to its customers, globally. It has established the world’s largest light material center known as The ALCOA Technical Center in California, US to focus on innovative products and understand the needs of local customers and serve them better. It focuses on achieving a premium position in the market by strategic acquisitions with Firth Rixson Limited (UK). The acquisition was aimed at enabling the company to increase its offerings made of nickel-based super alloys, titanium, stainless steel, and advanced aluminum alloys. These acquisitions have supported the company’s strategic objective of generating profitable growth in the aluminum composite panels market.
3A Composites offers a diversified range of aluminum composite panels for architecture and transport applications. The company has a strong brand equity and serves customers worldwide. It focuses on innovation, environmental protection, and sustainability. It is EN ISO 14001 and EN ISO 50001 certified. Its recent acquisitions of Athlone Extrusions (Ireland) in July 2017, extensive product portfolio, and global operations contribute to its strong position in the aluminum composite panels market.
Aluminum Composite Panels Market by Base Coating Type (PE, PVDF), Type (Fire-resistant, Antibacterial), Application (Building & Construction, Advertising, and Transportation), Composition (Core material, Metal skin), and Region - Global Forecast to 2022
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