Increasing Demand for lightweight Materials in Construction Sector will boost the Aluminum Composite Panel Market
HYDERABAD, TELANGANA, INDIA, January 11, 2023 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Aluminum Composite Panel Market size is forecast to reach $10.23 billion by 2026, after growing at a CAGR of 7% during 2021-2026. These panels are frequently used in interior & exterior applications like facial panels, column covers, and display units. Aluminum and a low-density polyethylene core material make up an aluminum plastic composite panel. As a result, when comparing aluminum to other metals with similar rigidity or thickness, the quality and reliability of aluminum composite panels are much superior. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Aluminum Composite Panel Market highlights the following areas –
1. The demand of aluminum composite panel in Asia-Pacific region is increasing with its rising inclination to convenient and safe and protective building materials.
2. Increasing adoption of sustainable and environment friendly products, and as the core materials (polyethylene) can be easily recycled without any loss of value or quality, aluminum composite panel demand is increasing.
3. Increasing demand for lightweight material and focus on green building developments in Asian countries will create demand for the aluminum composite panel market.
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1. Polyvinylidene fluoride (fluorocarbon) segment held the largest share in the aluminum composite panels market in 2020 followed by polyester to protect the aluminum panel from fire, chemical, UV rays antibacterial. PVDF (polyvinylidene fluoride) aluminum composite panels have a high mechanical quality that allows for a variety of modern uses, as well as sturdiness and hardness, as well as outrageous unbending natures and a low cost.
2. Asia pacific dominated the aluminum composite panel market with followed by North America in 2020 with 32% due to increasing investment in this region. According to National Development and Reform Commission (NDRC), China has resumed construction and railway projects. China resumed operation with 97% of major highway and waterway projects and 87% of airport projects also.
3. Core material segment dominated the aluminum composite panel market in 2020 due to high production efficiency and low raw material cost. Core material and cover sheets of aluminum composite panel can be recycled and reused. Polyethylene core materials in discarded aluminum-plastic panels can be recycled 100% with low environmental load.
4. Building & construction sector has been the primary market for aluminum composite panel in 2020 and is expected to grow at a CAGR of 7.2% during this forecast period, owing to increasing demand for both exterior and interior buildings structures such as offices, supermarket, airports, hotels, school, hospitals, residential and industrial buildings. Aluminum composite panels offer excellent durability, fire resistance, and weather proof in residential and non-residential sectors.
The top 5 players in the Aluminum Composite Panel Industry are –
1. Yaret Industrial Group,
2. Mitsubishi Chemical,
3. Alubond U.S.A.,
4. Alumax Industrial,
5. Shanghai Huayuan New Composite Materials,
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