Aluminum Composite Panels Market is poised to grow approximately at 6% CAGR
Market Synopsis of Global Aluminum Composite Panels
Aluminum Composite Panels are light-weight composite material consisting of two pre-finished aluminum cover sheets heat-bonded to a core made of polyethylene plastic material. These panels are used widely as exterior coverings of commercial buildings and corporate houses.
The growth of Global Aluminum Composite Panels Market can be attributed to increasing industrial & commercial construction activities in emerging economies and rise in automotive production. However, high prices of raw materials is a major restraint that may limit the market growth.
The Global Aluminum Composite Panels Market is poised to grow approximately at 6% CAGR and is estimated to touch USD XX million by the end of 2022.
Regional Analysis of Global Aluminum Composite Panels Market
Asia-Pacific is the leading market and is projected to grow approximately at a high speed during the forecast period. It is due to countries such as China, Japan, Australia and India, where the investment in building & construction industry is high due to rapid industrialization. In addition, improving financial conditions in the region is also aiding the growth of the market.
North America is expected to experience moderate growth during the forecast period, due to increasing usage of Aluminum Composite Panels for decorative and cladding applications to foster better insulation.