QYResearch: Global Metal Composite Panel market will reach USD 3890.72 million by the end of 2023
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QYResearch Metal composite panel refers to coat one metal board with another one to save resources and reduce the cost without reducing the effect of corrosion resistance, mechanical strength, etc. Composite methods are usually explosive compound, explosion and rolling composite, rolling composite. Metal composite panel is often used in construction for building curtain walls and interior decorations.
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According to QYResearch, The global metal composite panel market is valued at USD 3435.00 million in 2016 and is expected to reach USD 3890.72 million by the end of 2023, growing at a Growth Rate of 2.04% between 2016 and 2023.
Construction is a major application of metal composite panel, which can be classified as building curtain wall and interior decoration. Metal composite panel can also be used in fields, like anti-corrosion, pressure vessel manufacturing, electrical construction, petrochemical, pharmaceutical, light industry, Furniture and other industries. Building curtain wall is the largest application of metal composite panel, with market share of 53.45% in 2016. Interior decoration takes market share of 38.69%.
Metal composite panel can be classified as Aluminum composite panel, Zinc composite panel and others in terms of material type. Aluminum composite panel is the major kind of metal composite panel due to its quality and reasonable price. The market of Aluminum composite panel is quite separated, with China and North America as the major producing area. The metal composite panel industry has technical barrier, but the barrier is not significant. The products are ordinary, making it hard for customers to choose from one and another. Consequently, price and product quality are crucial to downstream customers. To metal composite panel manufacturers, the core of brand building is in quality control and technological innovation.
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The largest producers of metal composite panel in the worldwide are Mulk Holdings, 3A Composites, Mitsubishi Plastic, and Yaret, which takes a combined share of 12.63% in 2016.The largest producing area of metal composite panel is China. North America and Europe are also major producing area of metal composite panel. The annual consumption amount of metal composite panel would reach to 627.58M Sq.m in 2023. In the future, the consumption in fire resistance composite panel would be the growth point in the market.
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