Global Aluminum Composite Panels Market: Snapshot
The global aluminum composite panels market is anticipated to grow riding on the back of rapid infrastructure development in the years to come. Rise in growth of infrastructure and construction industries are likely to become major factors driving the global aluminum composite panels market in years to come. Incessant rise in population and rapid urbanization have favored the growth of both infrastructure development and residential construction. This has pressurized the construction sector across the world. Another factor that is helping the market to grow is the characteristics of aluminum composite panels. Resilient towards wear and tear, fire protection and corrosion resistance are the reason that has made aluminum composite panels to be used extensively for flooring, ceiling, internal cladding, and external cladding in the construction industry.
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The growing number of applications is paving the way for aluminum composite panels market in the automotive industry. Rise in automotive industry across the world is likely to have a significant impact on the growth of the market during the assessed period. Automotive industry which is growing by leap and bound in emerging countries such as Taiwan, China, Indonesia, Malaysia, and Japan is anticipated to bolster the growth of aluminum composite panels market. However, it has been noticed that chances of aluminum composite panels are susceptible to dents or bents under harsh weather conditions. This is expected to deter the growth of the market. In one hand the flexibility of aluminum composite panels permits them to be given various shapes and size whereas this characteristic can pull the market down when challenged by hurricanes or storms. Rickety prices of aluminum accompanied with presence of substitute products is prognosticated to act as major restraint.
Global Aluminum Composite Panels Market: Overview
The global aluminum composite panels market is foretold to achieve the spotlight due to increasing demand for the fire-resistant variety. As consumers become conscious about their personal and property’s safety, fire-resistant aluminum composite panels could gain more demand, especially because of the need for protection against fire in enclosed spaces such as buildings. Moreover, other attributes of regular aluminum composite panels are not said to be compromised by the fire-resistant type, which include protection, high strength, easy processing, and moisture resistance. This could be one of the primary contributing factors for the market’s growth.
In the near future, there could be certain trends gaining traction in the global aluminum composite panels market. For instance, nano self-cleaning aluminum composite panels are expected to obtain rising demand in the market. These panels prevent airborne pollutants and also resist harmful weather conditions as they are coated with nanomaterial films.
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Global Aluminum Composite Panels Market: Trends and Opportunities
Companies dealing with the business of aluminum composite panels may want to focus on the rising trend that involves the nano self-cleaning variety. Since nano self-cleaning aluminum composite panels are resilient to damaging UV radiation effects, they are capable of retaining their color and gloss for quite a long period of time. Moreover, they are studied to have an extended lifespan and prove crucial in the reduction of maintenance expenses. Polyvinylidene difluoride (PVDF) could be one of the leading products available in the market. It is said to have led the market in 2016.
PVDF aluminum composite panels offer a range of advantages that have won them a strong application in exterior curtain walls and other building and construction activities. Fire resistance, waterproofing, sound and heat insulation, high strength, and corrosion resistance are some of the key advantages offered by PVDF panels.
Global Aluminum Composite Panels Market: Market Potential
In May 2018, Alcoa and Rio Tinto made an announcement regarding a revolutionary process that helps prepare aluminum while killing all direct greenhouse gas emissions from the conventional smelting process, and producing oxygen. Elysis is the new joint venture launched by the two companies for large-scale commercialization and development of the process. An aggregate investment of C$188 million is agreed upon by the duo, Apple, and the governments of Quebec and Canada.
Global Aluminum Composite Panels Market: Regional Outlook
By the end of the forecast period 2017-2025, Asia Pacific is prognosticated to collect a larger share of the international aluminum composite panels market. Rise of the market in large emerging economies of the region could help Asia Pacific to continue with its dominance in terms of share. Furthermore, China is said to be a massive aluminum composite panels market in the region. It is also considered to be a grander destination for construction-related investments and a vast market for aluminum.
The report also sheds light on other important regions of the international aluminum composite panels market such as North America and Europe. Each region is discussed using latest statistics and market figures. Factors augmenting demand for aluminum composite panels in different regions of the market are also taken into account by the authors of the report.
Global Aluminum Composite Panels Market: Competitive Landscape
The international aluminum composite panels market could be led by prominent companies such as Alubond USA, Alcoa, and 3A Composites. Nature of the competitive landscape could be fragmented due to the presence of a number of companies operating in the market. Development of novel products could help render those of competitors nonviable even prior to their launch and recovery of commercialization and research and development costs. However, this could mainly be a situation for vendors with better financial and technical resources.
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