(EnergyIndustry.Net, April 14, 2020 ) Market overview The Global Aluminiumcompositepanels Market is expected to grow at a CAGR of 6.2% during the forecasting period (2020-2027). Aluminum composite panel (ACP) is a flat panel crafted from two aluminum alloy sheets bonded with a non-aluminum core to form a composite. ACP is used for cladding or as facade material in buildings, insulation, and signage. ACP is light-weight, rigid and durable and offers fire resistance, weatherproofing capabilities, and its color does not fade on being exposed to sunlight. The installation cost of ACPs is usually low.
Market Dynamics Properties such as chemical, fire, UV rays and antibacterial resistance is driving the market for the global aluminum composite panels market. Aluminum composite panels are used in automotive which makes the vehicles light-weighted and secured from fire, UV rays, etc.; it has driven global aluminum composite panels market. The plastic core material used in aluminum composite panels makes the product flexible, which is driving the market for global aluminum composite panels market.Market Restraints The burned-out-shell of Grenfell Tower in London, the Ministry of Business, Innovation and Employment audit the certification system, recommended for suspension of six certificates covering 13 types of aluminum composite panel cladding including six fire resistance (FR) types, making up probably 90% of the market. Thus, the suspension of these composite materials can be a significant restraint for the global aluminum composite panels market. The cost for automotive has been increasing due to the installation of new products and technology; this leads to high pricing of automotive to the customer which causing significant restraints to the global aluminum composite panels market.
Segmentation Analysis The aluminum composite panels are used majorly by construction, automotive, packaging, and other industry. APCs are used in automotive that lighten the weight of the vehicle. The automotive industry segment is growing strongly in this market with the massive sale of passenger vehicles globally. The construction and aviation industry has the significant demand for aluminum composite panels globally. The coatings used over aluminum composite panels are Polyvinylidene fluoride, fluoropolymer resins, and polyester paint. Polyvinylidene fluoride has the principal market for global aluminum composite panels. The coatings that protect the aluminum panel from fire, chemical, UV rays antibacterial and other are polyvinylidene Fluoride, Fluoropolymer resins, and polyester paint.
Geographical Analysis The Asia Pacific has a significant market for aluminum composite panels and is expected to have continued growth in the forecast period to 2025, as the considerable manufacturer for ACPs is located in China, Taiwan, and Japan, etc.
Competitive Analysis The top five companies for aluminum composite panels are Yaret Industrial Group, 3A Composites GmbH, Jyi Shyang Industrial, Alstrong, and Arsenic. Yaret Industrial Group holds the primary market for aluminum composite panels globally. Key market segments covered Aluminum sandwich panels- by core materials Plastic Wood Other BY COATING TYPE Polyvinylidene fluoride Fluoropolymer Resins Polyester Paint BY APPLICATION TYPE Construction Automotive Packaging Others BY SALES CHANNEL Direct Indirect BY REGION Asia Pacific Europe North America South America Rest of the World
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