PUBLISHER: IMARC | PRODUCT CODE: 1236904
PUBLISHER: IMARC | PRODUCT CODE: 1236904
The global aluminum composite panels market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
An aluminum composite panel (ACP) refers to a lightweight external cladding material used for creating contemporary facades on buildings, ceilings and signage boards. It is manufactured using two thin coil-coated aluminum sheets that are bonded to a non-aluminum core. In comparison to the traditionally used cladding materials, such as tiles, wood and unplasticized polyvinyl chloride (uPVC), ACP offers enhanced ease of installation, resistance to chemicals, moisture, corrosion and ultraviolet (UV) rays. Apart from this, they can be digitally printed, are highly flexible and versatile, require low-maintenance and available in a wide variety of colors and textures.
Significant growth in the advertising industry is one of the key factors creating a positive outlook for the market. ACPs are commonly used for outdoor advertising in public spaces and in-transit vehicles for displaying clear, attractive and insightful ads. Furthermore, the increasing demand for durable and lightweight materials for both commercial and residential constructions is providing a thrust to the market growth. They are also extensively utilized in the insulation of high-rise buildings and reinforcing ceilings of tunnels. In line with this, polyvinylidene difluoride (PVDF)-coated ACPs are used to protect the exposed portion of the building from extreme climatic conditions, which, in turn, aids in retaining the color and gloss for a longer duration. Moreover, increasing utilization of ACPs in automobiles for enhanced aesthetics is acting as another growth-inducing factor. The panels are used for decorative padding and as noise dampers as they are compression-resistant and offer high acoustic insulation. Other factors, including increasing construction of green buildings across various regions, are anticipated to drive the market further.