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Rise in construction activities across the globe and increase in demand for high appealing designs for buildings are expected to fuel the market growth.
PORTLAND, OR, UNITED STATES, November 22, 2021 /EINPresswire.com / -- Aluminum cladding panels are used as coverings on the exterior of buildings to enhance its appearance. These panels are made up of aluminum and are used as coverings or coatings in the buildings to protect them from external damage. Aluminum cladding panels are widely used in modern buildings with different architectural designs to provide better appearance to the buildings along with the environmental protection. The demand for these materials in cladding panels is on an increase as the aluminum panels provide good fire resistance.
According to a new report published by Allied Market Research, titled,“Aluminum cladding panels Market by type, size, application, sales and end user: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global aluminum cladding panels market size was valued at $5,847.0 million in 2020, and is projected to reach $9,707.1 million by 2030, registering a CAGR of 5.2% from 2021 to 2030.
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The commonly observed types of aluminum cladding panels based on thickness are 3 mm, 4 mm, and 6 mm. The market is analyzed with respect to different end users provided, such as residential and non-residential. The market is mainly driven by economic growth, and development in residential, & commercial construction sectors across the globe. However, fluctuation in raw material prices limit the growth of the aluminum cladding panels.
Covid-19 Impact Analysis
COVID-19 has already affected the sales of aluminum cladding panels in the last quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. The major demand for aluminum cladding panels was previously badly affected by the spread of coronavirus; thereby, halting the demand for aluminum cladding panels. Further, the disruption of supply chains is causing hindrance in completing the installation of aluminum cladding panels in new residential and commercial buildings.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging aluminum cladding panels market trends and dynamics.
In-depth emerging aluminum cladding panels market analysis is conducted by constructing market estimations for key market segments between 2020 and 2030.
Extensive analysis of the emerging market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global emerging aluminum cladding panels market forecast analysis from 2021 to 2030 is included in the report.
The key players within emerging are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the emerging aluminum cladding panels industry.
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Key Market Players
3A COMPOSITES
ALUBOND U.S.A
ALUCOIL
ALUMAX INDUSTRIAL CO., LTD.
ALUMINUM SPECIALTIES GROUP PVT LTD.
ARCONIC CORPORATION
CSP ARCHITECTURAL
FAIRVIEW
HVG
JYI SHYANG INDUSTRIAL CO., LTD.
Key Market Segments
BY TYPE
Solid Aluminum Panels
Aluminum composite panels
Architectural cladding
BY THICKNESS
3mm
4mm
6mm
By Geography
North America
Europe
Asia-Pacific
LAMEA
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Allied Analytics LLP
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