Americas Aluminum Composite Panels Market Overview
The Americas Aluminium Composite Panels Market size was valued at USD 1625.92 Million in 2023 and is projected to reach USD 2914.6 Million by 2032, growing at a CAGR of 6.7% from 2024 to 2032.
- Aluminum composite panels are light-weight composite material consisting of two pre-finished aluminum cover sheets heat-bonded to a core made of polyethylene plastic material. These panels are used widely as exterior coverings of commercial buildings and corporate houses. The demand for aluminum composite panels is limited in certain countries of the Americas where the cost of the raw materials is still a more prominent factor. However, the scenario is changing with changing lifestyles and growing urbanization. Such a change is expected to shift the impact of the rising demand for fast and economic construction techniques on the Americas aluminum composite panels market from moderate to high over the forecast period.
- According to the global construction 2030 report by Global Construction Perspectives and Oxford Economics, the global construction industry is expected to reach approximately USD 8 trillion by 2030 which will help to grow American market as well. In the American countries, construction of factories, manufacturing plants, stadiums, and offices has increased. This would directly influence the need for sustainable decorative building construction solutions in these structures which leads to an increase in the demand for aluminum composite panels in the American countries. However, the sub-prime crisis in the US caused a recession in the construction industry. But the industry has now recovered and is growing at a moderate pace.
Market Dynamics And Factors For Americas Aluminum Composite Panels Market
Drivers:
Rising Demand For Fast And Economic Construction Techniques
- The construction industry is witnessing high growth due to the high demand for infrastructure and buildings in the American countries. The increasing housing activities and growing residential, non-residential, and infrastructure projects due to urbanization and rising population primarily drive the growth of the construction industry. According to the Global Construction Perspective (GCP) and Oxford Economics, the US, India, and China are estimated to account for around 57% of total growth in the construction and engineering market by 2030. Aluminum composite panel form an important aspect of the quick construction techniques that deliver superior properties and outstanding features to construction enclosures. They are used to support light-weighted structures cost-effectively. Aluminum composite panel facilitate quick construction and make it feasible to avoid welding and utilize lighter lifting equipment at building sites. Moreover, they are suitable for large projects as the assembly of panels requires less time and drives their adoption in the construction sector. The need for innovative and durable construction solutions that are durable, save construction time, and are low maintenance is expected to lead to a rise in the demand for aluminum composite panel. Furthermore, the rise in home improvement and renovation projects adds to the demand for aluminum composite panel. The changing consumer preferences and increase in per capita disposable income of consumers are further expected to lead to the increasing adoption of innovative building solutions. Thus, the rising demand for fast and economic construction techniques is expected to drive the growth of the Americas aluminum composite panel market during the forecast period. However, the scenario is changing with changing lifestyles and growing urbanization. Such a change is expected to shift the impact of the rising demand for fast and economic construction techniques on the Americas aluminum composite panels market from moderate to high over the forecast period.
Restraint:
Lack of Skilled Labor
- The high number of construction projects across the Americas creates a high demand for skilled workers. The projected requirement for workforce in construction is more than the availability. The lack of skilled labor leads to an increase in the risks of contractors as it increases the likelihood of a delay. Moreover, the countries have witnessed a severe shortage of skilled labor because of the migration of skilled workers, an aging workforce, and the lack of training. According to a skill gap report commissioned by the National Skill Development Corporation, in the US, the building, construction, and real estate sector is estimated to require around 24 million of additional skilled workforce by 2024. However, the gap between the required workforce and their employability is expected to hamper the aluminum composite panels industry, which would affect the growth of the market for aluminum composite panels. Aluminum composite panel products require highly skilled labor to ensure proper cutting, fixing, and finishing. Thus, the lack of skilled labor is expected to restrain the growth of the Americas aluminum composite panels market during the forecast period. Programs such as Skills for Trade and Economic Diversification (STED) and Rural Economic Empowerment (TREE) programs are launched by the ILO for the development of the workforce worldwide. Moreover, the ILOs Skills and Employability Program for the United States (ILO-USA) was also launched with the objective of providing solutions to the skill development issues in North America. Thus, the lack of skilled labor is expected to restrain the growth of the Americas aluminum composite panels market during the forecast period.
Opportunity:
Rising Awareness of Energy-Efficient Infrastructure
- Globally, buildings consume more electricity than any other sector and account for ~33% of the total carbon emissions in the world. The energy-efficiency of these buildings can contribute to energy conservation and control the emission of greenhouse gases. The regulatory organizations have realized the importance of energy-efficiency in the construction sector. The major energy consumption operations in the residential and commercial buildings are heating, ventilation, and air conditioning, which account for around 35% of total building energy consumption. Aluminum composite panels in a house can help keep a house warm, reduce the energy bills, and make the home quieter. The regulatory associations promote the use of aluminum composite panels for new building codes and energy-efficiency owing to their lower energy consumptions. Similarly, the National Building Regulations and Building Standards Act No. 103 of 1977 also provides guidelines for using aluminum composite panels in buildings for efficient energy operations. These regulations are likely to boost the demand for aluminum composite panels in the American market. The focus on using energy-efficient technologies is expected to prompt customers and construction companies to adopt aluminum composite panels. Thus, the rising awareness of energy-efficient infrastructure is anticipated to create opportunities for the growth of the Americas aluminum composite panels market during the forecast period.
Segmentation Analysis of Americas Aluminum Composite Panels Market
- By Type, anti-bacterial aluminum composite panel is expected to have the largest share of America Aluminum Composite Panels Market. The anti-bacterial aluminum composite panel is painting internationally advanced coating with the ability to resist bacteria and kill bacteria to the aluminum composite panel to control breed of microorganism and sterilizing. The anti-bacterial ACP is coated with a special coating with anti-bacterial and bactericidal effects so that the surface of the ACP sheet has strong anti-bacterial and bactericidal effects, inhibits the activity and reproduction of microorganisms, and gradually kills them, creating a clean environment. Fire-resistant panels are predicted to have the second-highest share of the America Aluminum composite panels market.
- By Coating Base, PVDF aluminum composite panel is anticipated to dominate the America Aluminum Composite Panels Market during the forecast period. The surface of a PVDF aluminum composite panel features Polyvinylidene Fluoride with good weather resistance, impact resistance, UV resistance, sound & heat resistance, colorful, smooth, and beautiful. Its life is about 20 years. It is mainly used for exterior decoration. It is available in various colors and in different thicknesses to cater to the varying demand from the customers. Polyethylene (PE) ACP’s are predicted to have the second-highest share of the America Aluminum Composite Panels Market. PE aluminum composite panel can also be used for interior wall decoration, low building cladding, shop face decoration, partitions interior decorations, and more.
- By End-Use, Building and Construction is anticipated to dominate the America Aluminum Composite Panels Market during the forecast period. Aluminum composite panels, also commonly known as ACP cladding, are the most preferred building material in today’s construction world. The advanced structures, be it business, private, institutional, or medical clinics, will have ACP deal with them. The ACP cladding is such durable panels that it will not be required to change even after several years and, therefore, has become the best choice for builders. Transportation is predicted to have the second-highest share of the America Aluminum Composite Panels Market. ACP is increasingly used in commercial vehicles as it is one of the safest, eco-friendly, and cost-efficient ways to enhance performance, reduce emissions, and boost fuel economy.
Regional Analysis of Americas Aluminum Composite Panels Market
- North America is one of the largest regional markets for aluminum composite panels due to an increased demand for sustainable building material in the construction industry. The strong economy and the growing real estate industry contribute to the growth of the construction industry in North America. The aluminum composite panels market in North America is driven by various factors, including the shifting customer preference for cost-effective and efficient construction techniques. Various types of construction projects, including commercial interiors and retrofits, are being planned across the US, which is expected to create a demand for cost-effective and quick construction techniques, resulting in high demand for aluminum composite panels during the study period.
- South America is anticipated to witness a significant increase in construction-related spending. The larger markets in the region— Brazil, Argentina, and Chile—are anticipated to observe decent construction output in the coming years. Significant growth in construction investment is expected to increase the adoption of aluminum composite panels in the region due to several benefits associated with these panels.
Covid-19 Impact Analysis of Americas Aluminum Composite Panels Market
- COVID-19 has had a substantial impact on the construction industry across the globe, but the legal repercussions differ from region to region and contract to contract. On the contractual side, there is more focus on the international consulting firms, which provide guidelines and standards such as FIDIC (International Federation of Consulting Engineers) and NEC. Currently, ongoing construction projects altogether have become difficult to complete. The COVID-19 impact is slowing them down, causing disruption and delay, which is attributed to the severely disrupted supply chains. A few governments have also instructed to shut down certain businesses across regions. The construction industry has been severely hit by the outbreak owing to the halting of construction projects in North America. Countries, including the US and Canada, have temporarily stopped the production and construction projects. The overall construction industry is facing several challenges due to the pandemic, and most of the housing projects are expected to remain under construction due to disruptions in supply chains, cash flow constraints, and production shutdown. Additionally, there was almost zero construction activity at the project sites during the lockdown, which has further put a strain on several manufacturer’s and developer’s financial health. Amid the COVID-19 outbreak, laborers moved back to their respective native lands, causing a shortage of labor; thus, the timely completion of projects is also expected to become a major challenge for construction and interior designing companies. Moreover, due to supply chain disruptions and contractual implications, manufacturers are also facing problems in acquiring cheap input material as the manufacturing units are closed. Thus, the demand for aluminum composite panels is anticipated to decrease significantly, owing to the disruptions in the construction industry.
Top Key Players Covered In Americas Aluminum Composite Panels Market:
- Hexcel Corporation
- Alcoa Corporation
- Alucoil
- 3A Composites
- Fairfield Metal LLC
- Alubond U.S.A.
- Alpolic Materials
- Alcotex Inc.
- Arconic Inc. (USA)
- 3A Composites USA (USA)
- Alucobond USA (USA)
- Mitsubishi Chemical Corporation (Alpolic) (USA)
- Kingertai Group (USA)
- Jyi Shyang Industrial Co., Ltd. (Taiwan)
- Alucoil (USA)
- Sistemalux S.A. (USA)
- Eurobond (USA)
- ACM Panel Inc. (USA)
- Alumax Industrial Co., Ltd. (USA)
- Shanghai Alubond USA (USA)
- Vitrabond (USA)
- Other Major Players.
Key Industry Developments In Americas Aluminum Composite Panels Market
- In June 2023, Alumaze, a company specializing in aluminum composite panels (ACP), introduced a new range of products, including ACP sheets manufactured at their newly built facility in the Vizianagaram district. The plant was constructed rapidly in just eight months, with a notable investment of USD 6 million. This strategic expansion was driven by the growing market demand for aluminum panels, especially for use in interior design and signage applications.
Americas Aluminum Composite Panels Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data : |
2017 to 2023 |
Market Size in 2023: |
USD 1625.92 Mn. |
Forecast Period 2022-28 CAGR: |
6.7 % |
Market Size in 2032: |
USD 2914.6 Mn |
Segments Covered: |
By Type |
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By Coating Base |
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By End-Use |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Coating Base
3.3 By End Use
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Americas Aluminum Composite Panels Market by Type
5.1 Americas Aluminum Composite Panels Market Overview Snapshot and Growth Engine
5.2 Americas Aluminum Composite Panels Market Overview
5.3 Fire Resistant
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Fire Resistant: Geographic Segmentation
5.4 Anti-Bacterial
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Anti-Bacterial: Geographic Segmentation
5.5 Anti-Static
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Anti-Static: Geographic Segmentation
5.6 Others
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Others: Geographic Segmentation
Chapter 6: Americas Aluminum Composite Panels Market by Coating Base
6.1 Americas Aluminum Composite Panels Market Overview Snapshot and Growth Engine
6.2 Americas Aluminum Composite Panels Market Overview
6.3 Polyvinylidene Difluoride (PVDF)
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Polyvinylidene Difluoride (PVDF): Geographic Segmentation
6.4 Polyethylene (PE)
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Polyethylene (PE): Geographic Segmentation
6.5 Others
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Others: Geographic Segmentation
Chapter 7: Americas Aluminum Composite Panels Market by End Use
7.1 Americas Aluminum Composite Panels Market Overview Snapshot and Growth Engine
7.2 Americas Aluminum Composite Panels Market Overview
7.3 Building & Construction
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Building & Construction: Geographic Segmentation
7.4 Advertising Boards
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Advertising Boards: Geographic Segmentation
7.5 Transportation
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size (2017-2032F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Transportation: Geographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Positioning
8.1.2 Americas Aluminum Composite Panels Sales and Market Share By Players
8.1.3 Industry BCG Matrix
8.1.4 Ansoff Matrix
8.1.5 Americas Aluminum Composite Panels Industry Concentration Ratio (CR5 and HHI)
8.1.6 Top 5 Americas Aluminum Composite Panels Players Market Share
8.1.7 Mergers and Acquisitions
8.1.8 Business Strategies By Top Players
8.2 HEXCEL CORPORATION ALCOA CORPORATION
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Operating Business Segments
8.2.5 Product Portfolio
8.2.6 Business Performance
8.2.7 Key Strategic Moves and Recent Developments
8.2.8 SWOT Analysis
8.3 ALUCOIL
8.4 3A COMPOSITES
8.5 FAIRFIELD METAL LLC
8.6 ALUBOND U.S.A.
8.7 ALPOLIC MATERIALS
8.8 ALCOTEX INC.
8.9 OTHER MAJOR PLAYERS
Chapter 9:Americas Aluminum Composite Panels Market Analysis, Insights and Forecast, 2016-2028
9.1 Market Overview
9.1 Key Market Trends, Growth Factors and Opportunities
9.2 Impact of Covid-19
9.3 Key Players
9.4 Key Market Trends, Growth Factors and Opportunities
9.4 Historic and Forecasted Market Size By Type
9.4.1 Fire Resistant
9.4.2 Anti-Bacterial
9.4.3 Anti-Static
9.4.4 Others
9.5 Historic and Forecasted Market Size By Coating Base
9.5.1 Polyvinylidene Difluoride (PVDF)
9.5.2 Polyethylene (PE)
9.5.3 Others
9.6 Historic and Forecasted Market Size By End Use
9.6.1 Building & Construction
9.6.2 Advertising Boards
9.6.3 Transportation
9.7 Historic and Forecast Market Size by Country
9.7.1 U.S.
9.7.2 Canada
9.7.3 Mexico
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Fire Resistant
10.4.2 Anti-Bacterial
10.4.3 Anti-Static
10.4.4 Others
10.5 Historic and Forecasted Market Size By Coating Base
10.5.1 Polyvinylidene Difluoride (PVDF)
10.5.2 Polyethylene (PE)
10.5.3 Others
10.6 Historic and Forecasted Market Size By End Use
10.6.1 Building & Construction
10.6.2 Advertising Boards
10.6.3 Transportation
10.7 Historic and Forecast Market Size by Country
10.7.1 Brazil
10.7.2 Argentina
10.7.3 Rest of SA
Chapter 11 Investment Analysis
Chapter 12 Analyst Viewpoint and Conclusion
Americas Aluminum Composite Panels Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data : |
2017 to 2023 |
Market Size in 2023: |
USD 1625.92 Mn. |
Forecast Period 2022-28 CAGR: |
6.7 % |
Market Size in 2032: |
USD 2914.6 Mn |
Segments Covered: |
By Type |
|
|
By Coating Base |
|
||
By End-Use |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Americas Aluminum Composite Panels Market research report is 2024-2032.
Hexcel Corporation Alcoa Corporation, Alucoil, 3A Composites, Fairfield Metal LLC, Alubond U.S.A., Alpolic Materials, Alcotex Inc., Other Major Players
The Americas Aluminum Composite Panels Market is segmented into Type, Coating Base, and End Use. By Type, the market is categorized into: Fire Resistant, Anti-Bacterial, Anti-Static, Others. By Coating Base, the market is categorized into: Polyvinylidene Difluoride (PVDF), Polyethylene (PE), Others). By End Use, the market is categorized into: Building & Construction, Advertising Boards, Transportation. By region, it is analyzed across North America (U.S.; Canada; Mexico), South America (Brazil; Argentina, etc.).
Aluminum composite panels are light-weight composite material consisting of two pre-finished aluminum cover sheets heat-bonded to a core made of polyethylene plastic material. These panels are used widely as exterior coverings of commercial buildings and corporate houses.
The Americas Aluminium Composite Panels Market size was valued at USD 1625.92 Million in 2023 and is projected to reach USD 2914.6 Million by 2032, growing at a CAGR of 6.7% from 2024 to 2032.