Aluminum Composite Panels Market Size, Share, Growth Analysis, By Coating Type (PE, PVDF), By Type (Fire-resistant, Antibacterial), By Composition (Core material, Metal skin), By Region - Industry Forecast 2024-2031

Aluminum Composite Panels Market Driver

• Light commercial vehicle sales are boosting the automotive industry in Germany, Italy, and Russia. In vehicles, the panels can be used as padding and noise-dampening materials. Being lightweight and simple to install, these aluminum composite panels. The aluminum composite panels market is expected to grow during the anticipated period due to the rising demand for aluminum composite panels on a global scale. Regular maintenance of the aluminum composite panel is crucial to preserving rigidity and durability. Proper cleaning is also necessary to prevent dust collection.
• Superior dent resistance and the development of thicker, lighter doors, ACPs are used in indoor applications. Due to its high strength properties and low weight, the product is being used more frequently in the production of hoods because it makes hauling and towing vehicles simple. Additionally, a positive outlook for market growth can be seen because more than 85% of the automotive aluminum scrap is recyclable. High-performance vehicles' wings also feature ACPs to improve aerodynamics. It is also anticipated that increased use in the production of trunks for passenger cars and commercial vehicles, which offer tensile strength with less structural weight, will further fuel demand.

Aluminum Composite Panels Market Restraint

• ACP prices could rise as a result of rising raw material costs, which could have a negative impact on the local market. In September 2021, a number of Indian businesses announced price increases ranging from 7% to 10% on various composite panel types, citing rising costs for raw materials like aluminum coil, PE granules, polymer films, and transportation. Additionally, despite price increases, Indian businesses are having a hard time getting access to enough raw materials to meet demand. Aluminum coil, which is widely used in the facade and signage industries, serves as the main raw material for ACPs. ACP producers in India have increased in number over the past few years as a result of increased demand in a variety of industries whereas a significant increase in costs and insufficient supply have had a negative impact on ACP producing companies.