Market Trends of Europe Aluminium Composite Panel Industry
This section covers the major market trends shaping the Europe Aluminium Composite Panel Market according to our research experts:
Rising Demand for Aluminium Composite Panels from the Construction Industry
- Aluminum composite panels are prefabricated panels that consist of two aluminum sheets with a polyethylene core. This kind of technology is preferred in prefabricated construction as it helps to reduce waste, time, labor costs, and environmental pollution.
- Aluminum composite panels are commonly used for external and internal facades due to their lightweight, durability, and flexibility over other materials. ACPs can withstand rigorous wear and tear. Therefore modern-day constructions are clad with ACPs that can extend the. Therefore, and facade. Aluminium is a lightweight metal that is easy to handle and install.
- Structure's lifespanAluminum composite panels (ACPs) are also used to renovate many buildings because they are very economical, and their installation does not depend upon the scale of the building. Additionally, the flexibility offered by ACP makes it a better option for enhancing the aesthetics of complex structures.
- According to The Office for National Statistics (UK), total construction output in Great Britain increased by 12.7% in 2021 compared to the previous year. This was the most significant increase since annual records began in 1997. This trend is expected to continue, highlighting the region's growing demand for aluminum composite panels in construction.
- According to the United Nations Economic Commission for Europe (UNECE), some European countries' construction sector accounts for more than 7% of their total GDP, including Albania (10.9%), Romania (7.3%), Austria (7.2%), Serbia (7.2%), and Lithuania (7%). Germany has the highest construction production value, accounting for 5.9% of the total GDP.
- According to the Statistisches Bundesamt report, building permits in Germany increased by 3.3% from the previous year to 378,630 licenses in 2021.
- Therefore, considering the abovementioned factors, the demand for the aluminum composite panels market is expected to rise significantly in the segment shortly.
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Germany to Dominate the Market
- Germany dominates the Europe aluminium composite panels market in terms of revenue and share. Over the forecast period, the country is expected to maintain its dominance.
- The non-residential and commercial buildings in the country are expected to witness significant growth prospects in the forecast period. The growth is supported by lower interest rates, an increase in real disposable incomes, and numerous investments by the European Union and the German government.
- Germany has the largest construction industry in Europe. The construction industry in the country has been growing at a slow pace, majorly driven by increasing new residential construction activities. The non-residential and commercial buildings in the country are expected to witness significant growth prospects during the forecast period.
- According to Statistisches Bundesamt, the total number of permits for building and construction in Germany was 248,688 in 2021, witnessing a growth rate of 7%, compared to the previous year, and this growth trend is expected to continue, owing to the rising demand for real estate, increasing population, increased job security, and low borrowing costs.
- In the transportation industry, Aluminium composite panel (ACP) is desirable as it possesses characteristics such as high rigidity and lightweight. Lightweight construction reduces CO2 emissions while providing flexibility, which aids in having temporary shelves. Germany holds a substantial market share in this sector within the region.
- All aforementioned factors are likely to fuel the growth of the aluminium composite panels market in Germany over the forecast period.
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