Post Lockdown Scenario In Indian ACP Industry
With the rise of the Covid-19 pandemic, I have seen many businesses all around the globe that have been halted. Viva has also witnessed fundamental changes in consumer buying behavior and with that, I was left with no option, but to innovate. This pandemic situation has been a journey of learning to ‘survive’ in all odds for many businesses around the globe.
Through the information that I collected during the countrywide lockdown, one of the most affected business sectors was the construction sector. Materials like cement and steel are pivotal for the process of construction and so the cement and steel sectors were affected too.
Not only cement and steel, but many other materials are crucial for construction like ACP sheets. ACP sheets are mainly used for external and internal architectural cladding or partitions, signage, false ceilings, machine coverings, etc. We provide the best quality ACPs which are lightweight, highly flexible, easy to install, durable, and are available in a wide range of colors and textures.
Viva had to face a halt in the construction projects, the ACP market’s growth was also hindered. But with the post-lockdown scene, it is estimated that the ACP market will grow strongly in the future.
It is expected that the Aluminium Composite Panel (ACP) market is expected to register a CAGR of 6% during 2020-2025 (Internet sourced data: ALUMINUM COMPOSITE PANEL (ACP) MARKET – GROWTH, TRENDS, AND FORECAST ) Large scale investments in hotels in ASEAN countries in the near future will also pose a lucrative opportunity for the growth of ACP market.
As per my knowledge, the post-lockdown scenario has witnessed increasing investments in the residential and commercial sectors which has a huge potential to drive demand in the aluminium composite sheet market. Not only that, but I feel that there would be immense growth in the construction and automotive industries which would increase the demand for ACP sheets compare to the pre-Covid situation.
Viva has witnessed a rise in the demand for ACP sheets post lockdown. The major factor contributing to the growing demand for ACP sheets includes the increasing application in various sectors like transportation, building & construction, and advertising billboards. Viva’s Aluminium Composite Panel (ACP) has superior properties such as lightness, fire resistance, non-combustibility, time and cost-effectiveness, and acoustic insulation which has immensely contributed towards the rise in demand, post lockdown.
The global construction industry is expected to reach a massive USD 8 trillion by 2030. Several developing economies such as India, China, and Saudi Arabia are now largely focusing on the upcoming construction projects and the projects which were halted due to Covid-19 lockdown, which has increased the demand for ACP sheets or Aluminium Composite Panels. The market has become relatively positive since the Covid-19 breakout. ACP demand has gone up by 25% in both domestic and international markets.
It is very unfortunate that we saw a lot of corporates had to lay off people from their jobs and many were left in dismay to even struggle to meet their basic ends. This deeply saddens me but I’m immensely happy to announce that in all the situations going around, Viva Composite Panel stood up strongly with their employees. The company did not lay off any single employee, whereas did appraisal on basis of the performance and hard work. We ensured that each of the employees is getting the minimum payment to serve their families and that no layoffs take place in the company. I’m deeply honored to say that at Viva, we don’t consider our staff as employees, they are like our beloved family. Being a people-centric company we also took care of the essentials of the employees and also distributed safety masks among the staff.