Global Aluminium Composite Panels Market: Definition and Introduction
Interior/Exterior decoration is a global trends adopted in building establishments and needs in areas, such as design, architecture, and technology guiding consumers with modern decorations. Aluminium Composite Panels are considered as an ideal solution for the construction industry. Aluminium Composite Panels is very light weight, are rigid and strong.
Aluminium Composite Panels consist of two thin foil-coated aluminium sheets bonded to a non-aluminium thermoplastic, mineral and aluminium core. Primary application of Aluminium Composite Panels are cladding, partitions, false ceilings and other appropriate applications. In term of mechanical properties, Aluminium Composite Panels are combustible, highly flammable, and usually very thin, high pressure laminates, among others.
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Global Aluminium Composite Panels Market Dynamics
New construction of buildings as well as rehabilitation of existing buildings across the commercial and residential construction sector in turn, is majorly driven the demand for aluminium composite panels over the forecast period i.e. 2018 to 2028. The construction industry has witnessed sustainable incremental growth from the past few decades due to the expanding public infrastructural programs, schools, library, malls, hospitals, and other construction activities across the world.
Commercial constructions are anticipated to witness significant growth over the forecast period, which can be attributed to growth in employment, especially in the high-tech jobs market. This will increase the demand for construction materials such as aluminium composite panels for constructing office spaces. Recommendations by architects and interior designers are also earning the use of aluminium composite panels to a good extent.
Moreover, increased construction of social and private hospitals and spending on schools and educational institutions are key factors which are estimated to drive the demand for construction materials i.e. aluminium composite panels and hence the global aluminium composite panels market estimated to be prominent over the forecast period.
Innovative constructions in malls and hotels or lodges are majorly driven the demand of exterior or interior decoration products like aluminium composite panels. Thus, these factors are act as a key trend for global aluminium composite panel market by end of 2028. The low maintenance requirement and long lifespan (10-20 years) of aluminium composite panels lead to low substitution of aluminium composite panels.
Furthermore, due to strong collaborations between distributors and suppliers, both horizontally and vertically, customers are directed towards maintenance, which is likely to reduce the demand for new installation of aluminium composite panels. This could hamper the growth of the global aluminium composite panels market over the forecast period.
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Global Aluminium Composite Panels Market Segmentation
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Global Aluminium Composite Panels Market: Regional outlook
In term of geographic segmentation, global aluminium composite panels market can be segmented into seven regions i.e. Europe, China, North America, Middle East & Africa, Japan, Latin America and South East Asia Pacific. Among these, South East Asia Pacific is estimated to be more lucrative platform for the Aluminium Composite Panels market during forecast period, due to the rising urbanization and industrialization in the region.
North America is projected to be second larger market for Aluminium Composite Panels. Rapidly increasing building & construction industry market in Europe, projected to be prominent share in global Aluminium Composite Panels market over the forecast period. Further, among the emerging economies, Middle East & Africa and China is estimated to be moderate growth by end of 2028.
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Global Aluminium Composite Panels Market: Key Players
The global Aluminium Composite Panels market expected to be fragmented throughout the forecast period. Some of the market participants identified across the value chain of global aluminium composite panels market includes Mitsubishi Chemical Corporation, Yaret Industrial Group Co., Ltd, 3A Composites GmbH, Jyi Shyang Industrial, Alstrong, Arconic, Aludecor, Viva, EURO PANELS PRODUCTS PVT LTD, Constellium, Mulford Plastics, RUSAL, Interplast and among others.
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