Aluminum composite panels are light composite materials comprising of two pre-finished covers sheets of aluminum that are heat-bonded to a core made up of polyethylene plastic material. These aluminum panels are used broadly as exterior coverings of corporate houses and commercial buildings and infrastructures.
Aluminum composite panels holds its application across various kinds of structures around the globe. Its wide-ranging application is proliferating the growth of the global market in a significant manner and driving considerable demand for the product. A study was conducted upon the global aluminum composite panels market to grab a precise understanding concerning the growth, drivers, regional diversification, and the competitive landscape of the market. The study undertaken by Market Research Future (MRFR), mentions that the market is projected to grow at compound annual growth of 6% during the forecast period.
A number of factors were identified as the key influencers of the global market. The growing construction sector across the world contribute significantly to the rising demand for aluminum composite panels. This is expected to strikingly benefit the global market in the coming years of the forecast period. Furthermore, the expanding number of commercial buildings and corporate houses is projected to stimulate a positive influence over the market. Additionally, the burgeoning construction activities are anticipated to create and positive opportunities for the growth and development of the aluminum composite panel market.
Market Segmentation
The global aluminum composite panels market is segmented in terms of coating base, type, and application.
By type, the market segments into anti-static, anti-bacterial, and anti-static.
By coating base, the market includes polyethylene (PE) and polyvinylidene difluoride (PVDF).
By application, the market breaks down into building & construction, advertising boards, and transportation.
Regional Analysis
The global aluminum composite panels market covers the following key regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW).
The Asia Pacific regional market is the dominant player in the aluminum composite panels market and is anticipated to attain a positive CAGR over the forecast period. The presence of nations like Australia, japan, China, and India further aids the regional market in driving more growth and demand. This is due to the fast-paced industrialization and the subsequent rate of investments in the building & construction industry. Add to this, the improving financial conditions in the region is another key factor backing the growth of the market.
The North American regional market, on the other hand, is projected to experience significant growth rate through the forecast period due to the rising use of composite panels for decorative and cladding
Competitive Landscape
The global aluminum composite panels market includes a number of key players. Market Research Future goes on to highlight some of the leading names in its recently released report. This include Jyi Shyang Industrial Co., Ltd. (Taiwan), Alcoa Inc. (U.S.), Alumax Industrial Co., Ltd. (Taiwan), Mitsubishi Plastics, Inc. (Japan), Shanghai Huayuan New Composite Materials Co., Ltd. (China), Guangzhou Xinghe ACP Co., Ltd. (China), Changshu Kaidi Decoration Material Co., Ltd. (China), American Building Technologies, Inc. (U.S.), Msenco Metal Co., Ltd. (China), Yaret Industrial Group (China), and others.
The global market is expected to expand at a considerable pace in terms of the competitive viewpoint. The advancing nature of the market is anticipated to be driven by the heightened investment level and the growing number of product developments. The competitors in the market are vividly fighting against the challenges related to development and are consistently making strategies to make an impression on the global competitive landscape.
December 2018, Oman made a monumental inauguration by launching its first-ever aluminum composite panel (ACP).
May 2019, a fire retardant of ACP used for construction-based projects worldwide, namely etalbond FR, was announced into the market as a major development. This fire retardant is manufacturerd by Elval Colour.
https://www.marketresearchfuture.com/reports/aluminum-composite-panels-market-2631