The aluminum composite panels market is likely to gain momentum from the rising popularity of out-of-home (OOH) or outdoor advertising worldwide. Such type of advertising is mainly used by the industry giants operating in several sectors, namely, e-commerce, hospitality, BFSI, and FMCG as it is cost-effective in nature. This information is published by Fortune Business Insights™
Fortune Business Insights™ lists out all the companies operating in the ACP market. They are as follows:
- 3A Composites GmbH
- Arconic
- Mitsubishi Chemical Corporation
- Hyundai Alcomax Co., Ltd.
- Fairfield Metal LLC
- Jyi Shyang Industrial Co., Ltd.
- Alumax Industrial Co., Ltd.
Drivers & Restraints-
One of the world’s largest consumers of raw materials is the construction industry. It is anticipated to grow at a rate of 4.2% annually based on market value. This growth is attributable to the expansion of infrastructure, non-commercial, and commercial projects. In Asia Pacific, India is the major contributor to growth owing to the rising number of buildings. In the U.S., the industry would grow exponentially on account of the positive market conditions and robust economy. These are, in turn, upsurging the commercial real estate, as well as state and federal grants for institutional and public infrastructure developments.
This Report Answers the Following Questions:
- How will the market be affected in the coming years?
- What are the aluminum composite panels market trends, growth drivers, and obstacles?
- Which challenges and opportunities would the market come across?
- Which company is likely to gain the maximum share in the near future?
- Which region would procure the largest revenue and lead the market?
Segment-
In terms of application, the market is divided into railways, advertising boards, automotive, building and construction, and others. Amongst these, the automotive segment held 13.1% aluminum composite panels market share in 2018. This growth is attributable to the rising demand for private vehicles across the globe. Nowadays, people are inclining more towards personal cars rather than public transportation, despite high disposable income and rapid urbanization. The building and construction segment would also grow significantly owing to the rising installation of ACP in buildings as it is water-proof in nature.
Competitive Landscape-
Key Players Aim to Extend Product Portfolio through Mergers & Acquisitions
The market consists of many companies that are currently focusing on the strategy of acquisitions and mergers for expanding their range of products and boosting sales in the market. Below is a key industry development:
- July 2017: Fairview Architectural acquired the Stryum business. The latter’s product portfolio consists of a wide range of premium quality plate aluminium façade panels that would complement the former’s pre-existing portfolio of cladding solutions including high density terracotta tile, natural stone, and fibre cement. One of the major products of the company is Vitracore G2, its best-selling non-combustible ACP.
Information Source: https://www.fortunebusinessinsights.com/aluminum-composite-panels-market-102304
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