Aluminum Composite Panels Global Market Report 2024

The aluminum composite panels market has grown strongly in recent years. It will grow from $6.13 billion in 2023 to $6.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth observed in the historical period can be attributed to several factors, including architectural growth and modern construction trends, the rise in urbanization and infrastructure development, the appeal of aluminum composite panels due to their durability and weather resistance, their versatility in design, aesthetic appeal, as well as their cost-effectiveness and material efficiency.

The aluminum composite panels market is expected to see strong growth in the next few years. It will grow to $8.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to the adoption of sustainable construction practices, the growing popularity of prefabricated construction methods, increased demand in the automotive and transportation sectors, expansion of the retail and commercial sector, and overall global economic growth driving construction activities. Key trends expected in the forecast period include technological innovations in coating and finishing, advancements in coating technologies, the application of digital printing on ACP surfaces, the impact of rapid urbanization and increased construction activities, and a shift towards 3D ACP applications.

The anticipated surge in demand from the building and construction industry is poised to be a driving force behind the growth of the aluminum composite panels (ACP) market. The building and construction sector encompasses the manufacturing and trade involved in the development, maintenance, and repair of infrastructure. Aluminum composite panels are preferred building materials in construction due to their combination of lightweight and durable properties, design flexibility, energy efficiency, and cost-effectiveness. These panels find applications in buildings, whether composed of combustible or non-combustible thermoplastic material, for both exterior and interior purposes. A report from ToolSense, an Austria-based software company focused on construction and related industries, revealed that in the USA, the number of housing units constructed in 2021 reached 1,337,800, marking a 4% increase from the previous year. The volume of residential buildings rose significantly by 275% between March and July 2020. Consequently, the escalating demand from the building and construction industry is a key factor propelling the growth of the aluminum composite panels market.

The expansion of transportation activities is anticipated to further contribute to the growth of the aluminum composite panel market. Transportation involves the movement of people, animals, goods, or materials from one location to another. Aluminum composite panels are valued for their balanced combination of strength, lightweight properties, and versatility, making them valuable for both aesthetic and functional purposes in the transportation sector. As of June 2023, the American Trucking Associations, a US-based association, reported that the US trucking industry generated annual revenue of $875.5 billion in 2021, constituting 80.4% of the country's total freight bill. This data underscores the significant role of aluminum composite panels in supporting the transportation industry. Consequently, the increasing momentum in transportation activities is a key driver for the aluminum composite panel market.

The anticipated expansion in the automotive industry is set to drive the growth of the aluminum composite panels market in the foreseeable future. The automotive industry encompasses all businesses involved in the production of motor vehicles and their components. Aluminum composite panels play a crucial role in the automotive sector, finding applications in the rear walls, roofs, floors, and doors of automobiles, providing essential strength without adding unnecessary weight to the vehicles. For example, a report from the European Automobile Manufacturers' Association (ACEA) in March 2022 highlighted a 5.5% increase in sales of passenger cars in the US, reaching 11.9 million units in 2021. US auto facilities produced over 6.3 million passenger cars in 2021, reflecting a 3.1% increase from 2020. Chinese automakers also witnessed a 7.1% increase, producing 20.7 million vehicles in 2021. Globally, the total number of cars produced in 2021 rose by 2.7% to 63.2 million. Hence, the growth in the automotive industry is a significant driver for the aluminum composite panels market.

Product innovations are emerging as a key trend. Companies in this market are actively adopting new technologies to maintain their competitive positions. A notable example is Aludecor, an India-based company specializing in manufacturing aluminum composite panels. In July 2023, Aludecor launched Nexcomb, a highly anticipated aluminum honeycomb panel. This innovative product, featuring Aludecor's proprietary honeycomb core production, offers a unique combination of lightweight strength and limitless potential for various architectural applications.

Major players in the aluminum composite panels (ACP) market are focusing on developing fire-retardant products to gain a competitive edge. One such product is ALUCOBOND PLUS, designed to meet the highest level of fire performance and providing a safe and reliable option for architectural and construction applications. In October 2022, 3A Composites, a US-based composites company, introduced ALUCOBOND PLUS with a new Fire-Retardant Gray Core. This product offers architects and builders enhanced design flexibility and fire safety. The gray core minimizes visibility, allowing seamless integration and customization, thereby expanding possibilities for façade transformations through perforated designs that permit natural light while enabling enhanced aesthetic possibilities.

Major companies operating in the aluminum composite panels market report are 3A Composites GmbH, Mitsubishi Chemical Corporation, Guangzhou XingHe Aluminum Composite Panel Co. Ltd., Shanghai Huayuan New Composite Materials Co. Ltd., Jyi Shyang Industrial Co. Ltd., Alumax Industrial Co. Ltd., Changshu Kaidi Decoration Material Co. Ltd., Mulk Holdings Group, Hyundai Alcomax Co. Ltd., Yatai Industrial Group Co. Ltd., Fairfield Metal LLC, Yaret Industrial Group, Shyang Industrial Co. Ltd., Msenco Metal Co. Ltd., Alstrong Enterprises India Pvt. Ltd., Alcoa Corporation, Arconic Inc., Aludecor Lamination Pvt. Ltd., Kingspan Group, Taizhou Kingertai Decoration Material Co. Ltd., Interplast, Fangda Group, Jixiang Building Materials Group, Laminators Incorporated, Multipanel UK, Safario Group of Companies, VIVA Composite Panel Pvt. Ltd., Eurobond Industries Pvt. Ltd., Falken Design Corporation, Enclosure System Pvt. Ltd.

Asia-Pacific was the largest region in the aluminum composite panels market in 2023. North-America is expected to be the fastest-growing region in the global aluminum composite panels market report during the forecast period. The regions covered in the aluminum composite panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aluminum composite panels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of aluminum composite panels include fire-resistant, antibacterial, and antistatic variants, each featuring various base coatings such as PVDF (polyvinylidene fluoride), polyester, laminating coating, oxide film, and others. Fire-resistant ACP panels are specifically designed to resist fire for a specified duration under standard heat intensity conditions. They are engineered to minimize the risk of fire spread and adhere to building codes and regulations pertaining to fire safety. These panels find applications in diverse sectors, including building and construction, automotive and transportation, industrial settings, advertising, and more.

The aluminum composite panels market research report provides aluminum composite panels market statistics, including aluminum composite panels industry global market size, regional shares, competitors with an aluminum composite panels market share, detailed aluminum composite panels market segments, market trends and opportunities, and any further data you may need to thrive in the aluminum composite panels industry. This aluminum composite panels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aluminum composite panels (ACP) market consists of sales of non-combustible ACP (non-fire rated grade), 3 mm ACP, 4 mm ACP, and 6 mm ACP. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.