Aluminum Composite Panel, known as ACP, is made of Aluminum Composite Material (ACM), which contains two thin-coated aluminum sheets. It is made up of two different materials (metals and non-metallic) that retain the original composition of the material (aluminum metal, non-metallic polyethylene plastic) as their main characteristics and overcome the disadvantages of the original material.
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Due to its numerous advantages and huge conveniences, the aluminum composite panel is widely used in a variety of places, such as building exterior walls, partitions, and walls, curtain wall panels, old building renovation.
Due to its remarkable properties, the aluminum composite panel has become more popular as well as increasing consumer day by day. The demand and consumption of aluminum composite panels have shown steady growth.
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SURVEY DATA ON ALUMINIUM COMPOSITE PANEL
The global ACP market amount was valued at 5.36 billion USD in the year 2018 and is expected to exhibit a CAGR of 6.8% from 2018 to 2026. The market is expected to grow in the future due to the increased use of lightweight aluminum composite panels for padding. On the other hand, these panels are essential for building structures because they offer features such as a lower thickness, superior insulation and superior sealing.
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Aluminum Composite Panel, used in PVDF panels, led the market in 2018. It accounted for more than 36.4% of the market. This is because of an extensive range of applications, few of which include lightweight building, high speed trains, and notice boards. The highest growth area was construction, which used 7.2% Aluminum Composite Panel in the forecast years. The product's eco-friendly characteristics will drive market growth.
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In year 2018, there was a noteworthy boost in employ of this product in vehicles. This translates to a 6.3% rise in 2025. On the other hand, in 2020, the Asia Pacific country dominated the Aluminum Composite Panel industry. It is expected to continue its leadership over the forecast period. It is expected that the rapidly growing construction industry in emerging countries like China, India and Indonesia will have a positive effect on the regional market.
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MARKET OVERVIEW
The elite properties of aluminum composite panels create its wide range of uses, including engineering, large-scale building wall decoration, shopping mall facade decoration, signage, stations, airports, displays, ceilings, pillars, counters, furnishings, telephone booths, the material of factory wall, etc. The specific one is the following:
• Balcony, equipment unit, interior compartment.
• The panel, signage plate, and display stand.
• Decorative panels for interior walls, ceilings, advertising signs.
• The case from industrial materials, a refrigerating body of the car.
• Air conditioners, televisions, and other in-shell appliances.
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• Exterior decoration of airports, stations, subways, hotels, restaurants, recreation centers, residences, villas, offices, and many other types of buildings.
• Large banners, warehouse windows, kiosks of all kinds, phone booths, traffic booths, and service stations.
• Interior walls, ceilings, compartments, kitchens, bathrooms, etc.
• Decoration for warehouses, cabinets, pillars, furniture, trains, automobiles, boats, and cars, etc.
• Reconstruction and renovation of historic buildings.
• Projects for waste management and cleaning.
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Study shows that the main producers of aluminum composite panels in Asia-Pacific are Australia, China and Indonesia. The 2019 Covid Infection (COVID-19), which is already having a global impact on the Aluminum Composite Panel Market, will be felt now and have a significant impact on the market for aluminum composite panels in 2021.
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Conclusion: The Market Analysis Report of Niir Project Consultancy Services (NPCS) for Global Aluminum Composite Panel Market 2021 studies current industry trends, Aluminum Composite Panel market growth aspects, market earnings, and industry scenario during the forecast period (2021-2026).
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