Aluminum Composite Panels Market Reviewed for 2020 with Industry Outlook to 2026 | Hyundai Alcomax, Mitsubishi Plastics, Alcoa, Yaret, and more

The global aluminum composite panels market is forecast to reach USD 11.06 Billion by 2026, according to a new report by Reports and Data. Aluminum composite panels are weather, durable, and stain-resistant as they are mixed with plastic and metal. They offer end-users to witness a reduction in sound from the outside environment. Panels retain their shape and size, despite drastic weather changes, making them ideal for regions with harsh seasons. Additionally, they are resistant to corrosion, ensuring consumers can enjoy the benefits in the coming years. These materials are one of the most economical materials available on the market. Aluminum composite panels offer cost-savings from the onset, owing to the low initial cost and long-lasting durability. They've also proven to offer high-quality thermal comfort, providing additional savings in energy and gas expenses.

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The increasing residential construction activities across the globe, coupled with the rising population, are propelling the growth of the market. Rapid urbanization and industrialization will also drive the demand for aluminum composite panels during the forecast period. The construction industry is a booming industry and is expected to remain so with the continuation of the development processes, especially in the developing countries. Moreover, the rising investments in smart cities in the emerging economies will also boost the demand for aluminum composite panels worldwide.

Companies considered and profiled in this market study

Hyundai Alcomax Co., Ltd., Mitsubishi Plastics, Inc., Alcoa, Yaret, Interplast, Euramax, Aludecor, Fairfield Metal LLC, Alubond U.S.A., Alcotex Inc., Dong' E Blue Sky & Seven Color Building Materials CoLtd., Jyi Shyang Industrial, Guangzhou Goodsense Decorative Building Materials Co., Ltd., Shanghai Huayuan New Composite Materials CoLtd., Shandong Jixiang Decoration & Building Material CoLtd., and Taizhou Kingertai Decoration Material Co., Ltd., among others.

Further key findings from the report suggest

1. The fire-resistant products account for the largest market share of ~42% in the year 2018 and are anticipated to witness the highest growth rate of 7.2% during the forecast period. Fire-resistant panels are used as an exterior & interior cladding or roof covering on new buildings as well as retrofit applications. When exposed to a higher temperature, the product melts. Moreover, it does not emit the fumes and gases which proves to be harmful to the environment.

2. The core material components account for the largest market share of ~32% in the year 2018. ACPs consists of two high-strength aluminum sheets which includes a low density, insulating core material in between. The core material comprises a non-combustible mineral and a small fraction of thermoplastic which ensures high-performance against fire hazards.

3. The Asia Pacific region held the largest market share of ~31% in the year 2018 and is anticipated to witness the highest CAGR of 6.7% during the forecast period. High construction & infrastructure spending in emerging economies, including China and India, are majorly escalating the demand for aluminum composite panels.

4. Moreover, the growing transportation and automotive industries in the region have led to an increased demand for warehouses, hotels, restaurants, and others, which positively impacts the market growth. The market in the automotive sector is driven by the need for minimized vehicle weight to increase fuel efficiency and reduce maintenance costs.

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For this report, Reports and Data have segmented into the global aluminum composite panels market on the basis of product type, coating type, component, end-user, and region:
Product Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Fire-resistant
Anti-static
Anti-bacterial

Coating type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Polyvinylidene Difluoride (PVDF)
Oxide Films
Polyethylene (PE)
Others

Component Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Surface coating
Rear skin
Metal skin
Core material

End-User Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Building and Construction
Transportation
Automotive
Advertising
Others

Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

Go through our meticulously drafted TOC, Tables, Statistics, Charts, and Company profiles: - https://www.reportsanddata.com/report-detail/aluminum-composite-panels-market

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This release was published on openPR.