Thermoplastic Composites Market Registering At A CAGR Of 7.8% From 2022 To 2030

Posted by Neha Bora on August 2nd, 2023

San Francisco, 2 Aug 2023: The Report Pre-painted Aluminum Sheets Market Size, Share & Trends Analysis Report By Thickness (Under 2.5 mm, 2.5 mm - 3.0 mm), By Application (Aluminum Composite Panels, Signages & Boards), By Region, And Segment Forecasts, 2023 - 2030

The global pre-painted aluminum sheets market size is expected to reach USD 8.76 billion by 2030, expanding at 4.8% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is projected to be driven by the growing investments in developing the construction sector, hotels & restaurants, along with rising requirements to support the dead wall and enhancement of building aesthetics.

Rising preference for an improved infrastructure with aluminum composite panels (ACPs), and façades have gained importance in recent years. Pre-painted aluminum sheets are widely used owing to their cost effectiveness, high-quality, mechanical properties, and broad applicability. Moreover, with the growing emphasis on decreasing carbon emissions and increasing anti-corrosion properties, strength, and aesthetics, consumption is set to increase in the coming years.

Based on thickness, the market is segmented into below 2.5 mm, 2.5 to 3.0 mm, and above 3.0 mm segments. The pre-painted aluminum sheets with under 2.5mm thickness have a low share and are used for producing ACPs in the construction and industrial sectors. Aluminum has excellent resistance against weather conditions and can withstand extreme hot and cold conditions, which is driving the segment’s growth.

The market growth witnesses restrictions due to certain reasons. One of the factors is geopolitical conflicts like the Russia-Ukraine war. The war has impacted aluminum production and has caused global inflation on account of supply disruptions. This further caused the energy prices to surge. These factors have impacted the construction activities and raw material prices and affected the demand for pre-painted aluminum sheets.

The growth is however expected to be in line in the coming years, which is compelling companies to adopt strategies to expand their presence and capacity. The key players are focusing on R&D to strengthen innovations, technologies, and brand recognition to meet the new demand. For instance, in March 2023, Gulf Aluminium Rolling Mill (GARMCO), announced its plans to invest USD 24.5 million to expand its business into the new aluminum coil line. The company aims to build a technically advanced production line with reduced carbon footprints and increased productivity.

Access Research Report of Pre-painted Aluminum Sheets Market @ https://www.grandviewresearch.com/industry-analysis/pre-painted-aluminum-sheets-market-report

Pre-painted Aluminum Sheets Market Report Highlights

• Based on thickness, the 2.5mm - 3.0mm segment held the largest revenue share of over 79.0% in 2022 in the global market. This is attributable to the growing demand for the product in ACP-related applications and their cost-effectiveness
• Based on application, ACPs are expected to grow at a CAGR of 5.1% in terms of revenue, across the forecast period. The growth is attributed to its wide applicability across industries, especially in the construction sector. The lightweight, versatility, and durability of the panels contribute to their popularity
• Based on region, Asia Pacific dominated the market with more than 51.0% of the global revenue in 2022. Growing investments in infrastructure developments and the construction sector of the developing economies of the region are expected to augment market growth across the forecast period
• In recent years, the price of aluminum has been volatile owing to the uncertainties such as the COVID-19 pandemic, the East European geopolitical conflict, rising inflation, economic uncertainties, across the world, and possible recession fears. The raw material costs negatively impact the manufacturing cost of the industry

Pre-painted Aluminum Sheets Market Report Scope

List of Key Players of Pre-painted Aluminum Sheets Market

• Alucosuper New Materials Co., Ltd.
• Arconic
• Cascadia Metals
• Ertegan BV
• ITALCOAT S.r.l.
• Novelis
• Richard Austin Alloys.
• Stek Color Aluminium

Access Press Release of Pre-painted Aluminum Sheets Market @ https://www.grandviewresearch.com/press-release/global-pre-painted-aluminum-sheets-market