The increased demand for automated printing equipment and the incorporation of cutting-edge technology in pad printing mechanisms, according to Future Market Insights (FMI), are driving the 5.4% CAGR of the worldwide pad printing machine market.
The pad printing procedure is essentially a photogravure printing indirect approach in which a 2D image is transferred to a 3D object. Silicone pads are employed as a transfer medium for the ink onto the object due to their ability to reject ink.
The pad printing machine market is primarily driven by industrialisation and disruptive intelligent automation. Any slowdown in global economic growth has a significant effect on the sales of pad printing machines since it affects not only pricing and demand but also machine availability and market import-export dynamics.
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Sales in the market are increasing, albeit gradually, as a result of the economic recovery following the COVID-19 outbreak. Given the improvement in sales in the automobile industry, a significant end user of pad printing equipment, FMI forecasts remarkable potential for growth.
The automotive business is expanding quickly as a result of consumers’ rising per capita incomes around the world. Within the automobile industry, both the economy and luxury car segments have shown consistent growth over the previous ten years. Additionally, the demand for electric and hybrid automobiles is increasing rapidly.
Numerous automobile parts and components, such as knobs, centre console components, indicator parts, dashboard components, door handles, wheel rims, and automotive electronics plastics, are printed using the pad printing process.
Pad printing machines are frequently used by those in the automotive sector to enhance the design and aesthetic appeal of minor parts. In order to differentiate the car from the competitors, this is typically done to improve the aesthetic aspect of the vehicle and introduce distinctive distinguishing elements. The pad printing machine market is expected to be driven in the near future by the steadily expanding automotive sector and expanding applications for pad printing solutions.
Key Takeaway from Pad Printing Machine Market
- Demand for multi-color pad printing machines is expected to increase at a CAGR of 5.7% during 2021-2031.
- Due to advancement in technology and advantages associated with rotary printers, the segments is expected to create incremental opportunity of US$ 314 Mn during the forecast period.
- The usage of medium output pad printing machines will increase and is expected to account for 42.5% of sales in the global pad printing machine market by 2031.
- Pharmaceutical and medical device sector is expected to account for maximum sales in 2021.
“Pad printing machine market is driven by novel applications in industries like glassware and CBD packaging. Pad printing is expected to replace digital printing in the coming years,”- said a FMI Analyst.
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Key Players:
- Inkcups Now Corp.
- Printex USA
- Illinois Tool Works Inc.
- Engineered Printing Solutions
- Printa Systems, LLC
- DECO Technology Group, Inc.
- AutoTran Inc.
- Winon USA
Pad Printing Machine Market by Category
By Product Type:
- Single-color
- Multi-color
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By Printer Type:
- Rotary
- Flatbed
By Output:
- High
- Medium
- Low
By End User:
- Pharmaceutical & Medical Devices
- Textile or Apparel
- Automotive
- Consumer Goods
- Others (Electronics, etc.)
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