Global aluminum cladding panels market to generate $9.70 billion by 2030: Allied Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Portland, OR, Sept. 06, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aluminum cladding panels market generated $5.84 billion in 2020, and is estimated to generate $9.70 billion by 2030, witnessing a CAGR of 5.2% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Rise of the commercial and residential real estate industry, recovery in the construction industry, and surge in spending on home remodeling drive the growth of the global aluminum cladding panels market. However, variations in raw material prices hinder the market growth. On the other hand, rise in construction activities of green buildings and industrial expansion in emerging countries are expected to present new opportunities in the coming years.

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Covid-19 Scenario:

• Production activities of aluminum cladding panels have been stopped due to lockdown imposed by governments of many countries. In addition, raw material shortage has occurred.
• Residential and non-residential construction activities have been halted during the lockdown. This led to reduced demand for aluminum cladding panels. However, the demand is expected to rise steadily during the post-lockdown.
• Equipment and machinery producers have been protecting their staff and adapting their operations and supply networks to respond to uncertain situations.

The report offers detailed segmentation of the global aluminum cladding panels market based on type, size, application, end-user, and region.

Based on type, the aluminum composite panels segment held the highest share in 2020, accounting for nearly half of the total share, and is estimated to continue its lead position during the forecast period. However, the architectural cladding segment is projected to witness the highest CAGR of 6.2% from 2021 to 2030.

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Based on end user, the non-residential segment held the highest share in 2020, contributing to nearly three-fourths of the global aluminum cladding panels market, and is projected to maintain its dominant share in terms of revenue during the forecast period. However, the residential segment is expected to register the largest CAGR of 5.7% from 2021 to 2030.

Based on region, Asia-Pacific accounted for the highest share in 2020, contributing to more than two-fifths of the total share, and is projected to continue its leadership status by 2030. Moreover, this segment is expected to portray the fastest CAGR of 6.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

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Leading players of the global aluminum cladding panels market analyzed in the research include 3A Composites, Alubond U.S.A, Alumax Industrial Co., Ltd., Alucoil, Arconic Corporation, Aluminium Specialties Group Pvt Ltd., Jyi Shyang Industrial Co. Ltd., CSP Architectural, HVG, Mitsubishi Chemical Corporation, Mbond Manufacturer Sdn Bhd, and others.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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