The Global Trends of Aluminum Composite Panels Market

1. The US market

It is noted that the US market is estimated to be worth $1.9 billion, while China is expected to grow at an 8.8% CAGR. Additionally, the Aluminum Composite Panels market in the United States is expected to be worth $1.9 billion by 2020. China, the world's second-largest economy, is expected to reach a projected market size of US$2.2 billion by 2027, with a CAGR of 8.9% from 2020 to 2027. Other notable geographic markets include Japan and Canada, which are expected to increase at 3.1% and 5.2%, respectively, between 2020 and 2027. Germany is expected to expand at a CAGR of around 3.6% in Europe.

2. The global market

Despite the COVID-19 problem, the global market for Aluminum Composite Panels, currently, which was estimated at US$7.1 billion in 2020, is expected to reach US$10.4 billion by 2027, rising at a CAGR of 5.7% from 2020 to 2027. One of the segments examined in the study, Core Material, is expected to grow at a 6.3% CAGR and reach US$4.8 billion by the end of the analysis period. Following an early assessment of the commercial ramifications of the pandemic and its resulting economic crisis, growth in the Metal Skin segment is revised to a revised 5.1% CAGR over the next seven years.

3. Surface Coatings will grow at a 5.8% CAGR

The global Surface Coating segment is expected to grow at a 5.3% CAGR, led by the United States, Canada, Japan, China, and Europe. These regional markets, which had a combined market value of US$954 million in 2020, are expected to grow to US$1.4 billion by the end of the analysis period. China will continue to be one of the fastest-expanding markets in this cluster of regional markets. Asia-Pacific is expected to reach US$1.4 billion by 2027, led by countries such as Australia, India, and South Korea, while Latin America will grow at a 7% CAGR during the analysis period.