Global ACP market sees growth despite geopolitical challenges

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The global aluminium cladding panels (ACP) market is set to continue its upward trajectory, despite challenges posed by the Russia- Ukraine conflict. In 2022, the market stood at $6.40 billion and is projected to reach $6.68 billion in 2023, with a compound annual growth rate (CAGR) of 4.30%.

The Russia-Ukraine war, marked by economic sanctions, surging commodity prices, and supply chain disruptions, created ripples across global markets, hindering a post-COVID-19 pandemic recovery in the short term. Aluminium cladding panels, favoured for their durability and lightness, are widely used in construction, offering an alternative to conventional materials like concrete and stone. The market’s resilience is evident, as it is expected to attain $7.99 billion by 2027, with a CAGR of 4.59%.

Asia-Pacific dominated the market in 2022, leading the way in the adoption of aluminium cladding panels. The report encompasses regions such as Western and Eastern Europe, North and South America, and the Middle East and Africa, highlighting the global reach of this thriving industry. This industry, inclusive of solid aluminium panels, aluminium perforated panels, and aluminium composite panels, encompasses the value of goods and associated services, contributing to its robust growth despite challenging global circumstances.

The surge in construction activities is expected to propel the growth of the aluminium cladding panels market going forward. A surge in construction activities refers to an increase in the level of construction work taking place in a particular region.