Despite extensive investigations elucidating the initial response behavior of aluminized polytetrafluoroethylene (Al-PTFE) under atmospheric pressure, research on their response in lean-oxygen environments pertinent to propulsion and explosion scenarios is still lacking. This paper theoretically analyzes the multi-physical processes of laser-ignited Al-PTFE, identifying the initial response, main chemical reaction paths, and gas-phase product flow mechanisms. A dynamic reaction model of Al-PTFE considering material moving front, chemical reactions, gas-phase product dynamics, and variations in thermophysical properties, was developed. The robust coupling scheme in the model addresses nonlinear equations and fluid-solid coupling boundary conditions. Validation was achieved by comparing the ablation depth and plume number density field calculated by the model with the experimental results in the literature. The model reveals a positive correlation between laser fluence and both temperature growth rate and ablation depth of Al-PTFE, with the effects mainly observed in the full width at half maximum (FWHM) of the pulsed laser due to the thermal decomposition of the PTFE matrix. Simulations of the equilibrium constants and molar fractions of 19 components in the Al-PTFE ablation plume within the temperature range of 2000 K to 30,000 K at 0.001 Pa indicate that the equilibrium constants for dissociative reactions exceed those for ionization reactions, primarily in the early plume formation stages. Analysis of kinetic parameters and ambient pressure effects shows that during laser ablation, the maximum temperature of the plume initially appears near the ablation surface, shifting to the front, where the maximum velocity is always located. An elliptical shock wave forms due to adiabatic expansion of the plume, creating a cavity inside the plume. Lower ambient pressure increases plume expansion velocity, temperature, and size.