Pune India, Jan. 14, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned segmentation and regional analysis for North America, Europe, Asia, South America, Middle East and Africa. These are the main areas where aluminum composite panels market It works and is expected to expand soon. Manufacturers and suppliers involved aluminum composite panels market They are present in various countries in the above regions.
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The report gives a detailed understanding of the market segments formed by combining different prospects such as product, vehicle type, application, and regions. Apart from this, the key drivers, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
important players operating in the world aluminum composite panels market They are Jyi Shyang Industrial, Alstrong, Mitsubishi Chemical Corporation, Arconic, Yaret Industrial Group, Alubond USA, 3A Composites, Alumax Industrial, Changshu Kaidi Decoration Material, Guangzhou Xinghe Aluminum Composite Panel, Shanghai Huayuan New Composite Materials, Jyi Shyang Industrial. , EURO PANELS PRODUCTS PVT LTD among others. To achieve a significant market share in the worldwide aluminum composite panel market and enhance its position, manufacturers are pursuing expansion avenues such as current developments, mergers and acquisitions, product innovations, collaborations, partnerships and joint ventures.
The aluminum composite panel consists of two aluminum alloy panels bonded to a base material. Aluminum composite panels are becoming increasingly popular among end users because they offer proven performance in all types of climates and can be easily cleaned by simply washing them with standard detergents. Because of the environmental benefits of these materials, the increasing popularity of green building is also expected to drive demand for these products. The building and structure are subject to many safety regulations and standards, including LEED and British Safety Standards, and ACPs are encouraged to be incorporated into the design. During the forecast period, aluminum composite panels are expected to play an important role in the growth of the global automotive industry. The market is witnessing exponential growth due to the increase in the demand for aluminum composite panels in the construction sector which leads to the growth of the market but there are some factors that are hindering the growth of the market. Factors such as the high price of raw materials used in the manufacture of panels and the high cost of the final product affect the growth of the market. Moreover, many major players are constantly focusing on improving the quality of their products by investing in research and development, which creates new opportunities for market growth.
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Scope of the Aluminum Composite Panels Market Report:
|The study period||2022-2030|
|market share unit||billion US dollars|
|Covered slices||Product, vehicle type, application and regions.|
|covered areas||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|The main players||Jyi Shyang Industrial, Alstrong, Mitsubishi Chemical Corporation, Arconic, Yaret Industrial Group, Alubond USA, 3A Composites, Alumax Industrial, Changshu Kaidi Decoration Material, Guangzhou Xinghe Aluminum Composite Panel, Shanghai Huayuan New Composite Materials, Jyi Shyang Industrial. , EURO PANELS PRODUCTS PVT LTD among others|
PVDF is expected to be the fastest growing sector in 2022.
The product part is polyester, PVDF, laminating coating, oxide films, and others. The PVDF segment is expected to witness the highest growth rate during the forecast period. A wide range of applications, such as lightweight construction, high-speed trains, and billboards, led to PVDF panels accounting for more than 34.4% of the market in 2018. Moreover, the features that make them resistant to abrasion, corrosion, and durable will benefit the growth of the sector, which in turn It will promote market growth.
Passenger cars are expected to be the fastest growing segment in 2022.
The vehicle type segment is light commercial vehicles and passenger cars. The passenger car segment is expected to witness the highest growth rate during the forecast period. It provides better heat insulation and sound insulation in luxury cars, which increases its demand in this market. The use of aluminum composite panels in high-performance vehicles reduces vehicle weight, which results in improved fuel efficiency.
Construction is expected to be the fastest growing sector in 2022.
The application part is automobile, railway, construction, billboard, etc. The construction sector is expected to witness the highest growth rate during the forecast period During the forecast period, the global aluminum composite panel market is expected to grow in the construction sector because it will boost the growth of building construction and architecture, as well as require fire resistance, corrosion resistance and moisture resistance properties.
Regional analysis provides a detailed visualization of major regions and countries. Some of the key countries analyzed for the Aluminum Composite Panels market include United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia. The Arabian Peninsula.
The Asia Pacific region saw a significant share. As a result of increasing construction activities and preference for low-maintenance building products, the Asia Pacific region has dominated the global market share in the aluminum composite panel market. ACP is used to decorate interiors in Asian countries for aesthetic appeal, making it a lucrative market growth market as large-scale investments in hotels provide lucrative market growth opportunities.
Germany’s aluminum composite panel market was valued at USD 0.53 billion in 2022 and is expected to reach USD 0.66 billion by 2030, at a CAGR of 2.9% from 2023 to 2030.
Changing building and energy requirements in the region are driving the expansion of the use of panels as cladding and aesthetic components of green structures, driving market growth.
China’s aluminum composite panel market was valued at US$0.92 billion in 2022 and is expected to reach US$1.25 billion by 2030, at a CAGR of 4.0% from 2023 to 2030.
China’s construction industry is expected to grow by 6% in 2022, according to the five-year plan released in January 2022. Up to 30% of new buildings in the country can be used for prefabricated elements, whether fully or partially built and assembled on construction sites.
India’s aluminum composite panel market was valued at US$ 0.83 billion in 2022 and is expected to reach US$ 1.10 billion by 2030, at a CAGR of 3.6% from 2023 to 2030.
The construction industry in India is expected to be boosted by government initiatives, increased investments in the residential and commercial sectors, as well as the growing demand for aluminum composite panels.
The impact of Covid-19
Covid-19 has had a significant impact on almost all industries, such as electronics, semiconductors, manufacturing, automobiles, etc. However, many companies operating in the technology sector have seen an increase in revenues due to significant changes in consumer preferences towards technology services. In addition, the pandemic has led to a significant growth in technology across developing and developed countries.
Moreover, the growth of this market is mainly due to increase due to increasing demand for green building construction, which is driving the growth of the market across the countries.
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