Latest IMF survey reveals hidden opportunities for pad printing machine expanding the market. It provides an unbiased analysis of the demand outlook presenting historical demand data (2016-2020) and forecast statistics for the period (2021-2031). It also studies the growth prospects of the market in various segments based on product type, printer type, output and end use over the next ten years.
DUBAI, United Arab Emirates, December 13, 2021 / PRNewswire / – According to a recent IMF study, the global market for pad printing machines should exceed US $ 1.1 billion in 2021. With the increase in applications of pad printing machines in industries such as textiles, automobiles and consumer goods, the market is estimated in total US $ 1.8 billion by the end of 2031.
The growing demand for advanced printing machines capable of efficiently creating complex images, graphics and designs creates immense growth prospects in the market. As a result, pad printing machine sales are forecast to increase at 5.4% CAGR over the forecast period 2021-2031, compared to the 3.6% CAGR recorded between 2015 and 2020.
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Pad printing machines find a wide range of applications in the pharmaceutical and medical device sector. Demand is expected to increase exceptionally due to their ability to print any type of surface such as flat, irregular, spherical and cylindrical.
It is also increasingly used for a variety of devices, including contact lenses, surgical instruments, syringes, catheter tubes, pills, and others.
Therefore, the growing demand for the aforementioned products following the COVID-19 outbreak has boosted sales. Against this backdrop, according to IMF, the market for pad printing machines is expected to grow by 4.5% year-on-year in 2021.
On the basis of product type, the multi-color segment is expected to account for the maximum market share, growing 5.7% CAGR to 2031. The convenience of printing, the ability to print complex designs, and the Printing clear images on the substrates are the attributes favoring the growth of the segment.
“Major manufacturers are emphasizing the introduction of new machines with cameras and sensors to improve print quality by detecting errors and verifying machine setup calibrations. This should stimulate the market in the coming years. “ says an IMF analyst.
Key points to remember from Pad printing machine Market research
- North America market is expected to account for 16% of total sales in 2021, due to the presence of a large number of leading manufacturers in the United States
- Germany should become a very attractive market in Europe, showing growth to 3.7% CAGR over the evaluation period.
- China should represent an important part of the East Asia market, thanks to increasing application in the automotive sector of the country.
- On the basis of printer type, the flatbed printer segment is expected to dominate the market, accounting for 62% of the total revenue share in 2021.
- In terms of production, the middle segment is expected to register the fastest growth, accounting for nearly 42.5% of demand through 2031.
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- The increasing use of pad printing machines for printing various vehicle components such as rims, buttons, dashboard, indicator parts and door handles is propelling demand in the automotive industry.
- The increasing demand for automated printing machines and the integration of the latest technologies in pad printing mechanisms to increase efficiency are expected to drive the market growth.
- The high installation and maintenance costs of pad printing machines hamper sales in the market.
- The inability to print an image size larger than 150mm in diameter and use more than 6 colors for printing is a challenge for market growth.
According to IMF, the major players in the global pad printing machine market are expected to represent almost 25% to 35% of sales in 2021.
Key companies are aiming for strategic collaborations and partnerships with cup and printing ink manufacturers to meet growing demand across the printing industry. Some of the players aim to launch new products to gain competitive advantage in the market. For example,
- In April 2021, Marabu Company, a leading manufacturer of printing inks, has announced the launch of the world’s first water-based pad printing ink, MaquaPad MAP. The company states that the ink is suitable for all natural and synthetic fabrics such as cotton, artificial leather stretch fabric, coated fabrics and polyester.
- In August 2019, Inkcups, a leader in pad printing and industrial inkjet printing equipment, announced the launch of three new pad printers to expand its current line of pad printers – ICN-200, 2200-DLI and ICN- 120. These product launches will help the company strengthen its footprint in the market.
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Some of the major players operating in the market presented by IMF are:
- Inkcups Now Corp.
- Printex United States
- Illinois Tool Works Inc.
- Engineering printing solutions
- Printa Systems, LLC
- DECO Technology Group, Inc.
- AutoTran Inc.
- Winon United States
- Tampoprint AG
- Miedl & Schnall GmbH
- Tamponcolor TC Druckmaschinen GmbH
- Mascoprint Developments Limited
- Comec Italia Srl
- Teca-Print United States
- ESC Europa-Siebdruckmaschinen-Centrum GmbH & Co. KG
More valuable information on Pad printing machine Marlet
A recent study by IMF provides an in-depth analysis of the global pad printing machines market, providing credible information on the key factors driving the market for the coming decade. The report also disclosed growth projections of the Pad Printing Machines market with detailed segmentation:
By product type:
By printer type:
By end use:
- Pharmaceutical and medical devices
- Textile / Clothing
- Consumer goods
- Others (Electronics, etc.)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (AEM)
For any questions related to the report, ask a [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-14229
Key questions addressed in the report
- The report provides insight into the demand outlook of the Pad Printing Machine market for the forecast period 2021-2031
- The market study also highlights the expected sales growth for the Pad Printing Machine market between 2021 and 2031.
- The Pad Printing Machines market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancement within Of the industry
- Analysis of the Pad Printing Machines market share, covering key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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