26 June 2019 –
The Global Aluminum Composite Panel Market is
expected to grow at a significant CAGR in the upcoming period as the scope and
its applications are rising enormously across the globe. The aluminum composite
panel is termed as thin sandwich-type panels that comprise a non-aluminum core
fused between aluminum sheets. Because of their sturdiness and lightweight,
they can be used as external claddings on multi-level buildings.
The factors that are playing a major role in the growth of
the market are the rising demand from the end-users and the rapid growth of the
automotive sector across the globe. However, the availability of alternatives
and the fluctuating cost of raw materials may restrain the overall market in
the years to come. Aluminum composite panel market is segmented based on base
coating type, type, composition, application, and region.
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Based on the composition, rear skin, surface coating, core
material, metal skin, and others could classify aluminum composite panel market
in the forecast period. The core material sector accounted for the substantial
share of the market and is estimated to lead the overall market in the years to
come. The reason could be its fire resistance property and the high demand from
the construction industry.
Globally, Asia Pacific accounted for the significant share
of aluminum composite panel industry and is estimated to lead the overall
market in the years to come. The reason behind the overall market growth could
be the rising demand for low-maintenance building products, the presence of key
manufacturers in the region, and the recovery of the Chinese residential
market. The developing countries like India and China are the major consumers
of aluminum composite panel in this region. The Middle East and Africa (MEA)
follow the suit.
The key players of aluminum composite panel market are
Mitsubishi Chemical, Arconic, Jyi Shyang Industrial, Yaret Industrial Group,
Guangzhou Xinghe Acp, 3a Composites, Changshu Kaidi Decoration Material,
Alubond U.S.A., Shanghai Huayuan New Composite Materials, and Alumax
Industrial. These players are concentrating on inorganic growth to sustain
themselves amidst fierce competition.
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