The United States holds a 17.8% market share in the machinery and equipment manufacturing sector, which encompasses a wide array of companies, including many small and medium-sized enterprises (SMEs) and large multinational corporations. Production is concentrated in industrial hubs such as the Midwest, California, and Texas, with over 1.1 million Americans employed in this sector. This thriving machinery and equipment industry creates a favorable climate for the growth of the pad printing machines market in the country.
The Global Pad Printing Machine Market is poised for substantial growth, as indicated by Future Market Insights (FMI). Estimated at US$ 1,136.7 million in 2023, the market is projected to witness a noteworthy CAGR of 5.3% from 2023 to 2033, reaching a valuation of US$ 1,897.8 million by the assessment period’s end.
These machines are gaining prominence for their role in efficiently marking and printing a wide array of products, particularly within the healthcare industry. The demand for pad printing machines capable of handling simple single-color images to intricate multicolored graphics is driving sales growth.
The versatility of pad printing is evident across multiple sectors, from printing labels on textiles and automotive components to delicate designs on consumer goods packaging. Among these applications, the pharmaceutical and medical devices sector stands out, utilizing pad printing to mark intricate details on syringes, pills, surgical instruments, catheter tubes, and more. This diverse range of applications underscores the evolving landscape of the Pad Printing Machine Market.
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Pad printing machines are finding a wide range of applications across the pharmaceutical and medical devices sector. Demand is expected to surge exceptionally owing to their ability to print any type of surface such as flat, irregular, spherical, and cylindrical.
It is also increasingly being used for a variety of devices including contact lenses, surgical instruments, syringes, catheter tubes, pills, and others.
Hence, burgeoning demand for aforementioned products following the outbreak of COVID-19 has spurred the sales. Against this backdrop, as per FMI, the pad printing machines market is projected to register 4.5% year-on-year growth in 2021.
On the basis of product type, the multi-color segment is projected to account for the maximum share in the market, expanding at 5.7% CAGR through 2031. Convenience in printing, ability to print complex designs, and clear image printing on substrates are the attributes favoring the growth in the segment.
“Leading manufacturers are emphasizing on introducing novel machines incorporated with cameras and sensors to enhance the quality of printing by detecting errors and checking the calibrations of the machine set up. This is expected to boost the market in coming years,” says a FMI analyst.
Key Points:
- Growing Healthcare Application: The Pad Printing Machine Market is witnessing an increasing adoption of these machines within the healthcare industry. They are utilized for marking and printing on medical devices, pharmaceutical products, and surgical instruments due to their precision and versatility.
- Versatile Printing Solutions: Pad printing machines offer the capability to print intricate and complex designs on various surfaces, including textiles, consumer goods packaging, automotive components, and electronic devices. Their adaptability across industries fuels their demand.
- Rising Demand for Multicolor Printing: The market is experiencing a surge in demand for pad printing machines that can efficiently handle both single-color and multicolored printing tasks. This demand is driven by the need for diverse and visually appealing graphics.
- Pharmaceutical and Medical Device Dominance: The prime end-users of pad printing machines are the pharmaceutical and medical devices sectors. These industries rely on pad printing for precise marking on syringes, pills, catheter tubes, and other medical equipment.
- Continued Technological Advancements: Ongoing advancements in pad printing technology are enhancing their performance, efficiency, and ease of use. These innovations are expanding the scope of applications and driving market growth.
Key Drivers
- Increasing use of pad printing machines for printing of various vehicle components such as wheel rims, knobs, dashboard, indicator parts, and door handles is propelling the demand across the automotive industry.
- Surging demand for automated printing machines and integration of the latest technologies in pad printing mechanisms to increase efficiency is expected to drive the growth in the market.
Key Restraints
- High installation and maintenance cost of pad printing machines is hindering the sales in the market.
- Inability to print an image size more than 150 mm diameter and use more than 6 colors for printing is posing a challenge for the growth in the market.
Competitive Landscape
Key companies are aiming for strategic collaborations and partnership with cups and printing inks manufacturers to address the growing demand from the overall printing sector. Some of the players are aiming at launching novel products to gain competitive edge in the market. For instance,
- In April 2021, Marabu Company, a leading manufacturer of printing inks, annocuned launching the first waterbased pad printing ink in the world, MaquaPad MAP. The company declares that the ink is suitable for all the natural and synthetic fabrics such as cotton, artificial leather stretch fabric, coated and polyester fabrics.
- In August 2019, Inkcups, leader in pad printing and industrial inkjet printing equipment, announced launching three new pad printers to expand its current pad printer portfolio – ICN-200, 2200-DLI and ICN-120. These product launches will assist the company to strengthen is footprint in the market.
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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
- Tampoprint AG
- Miedl & Schnall GmbH
- Tamponcolor TC Druckmaschinen GmbH
- Mascoprint Developments Limited
- Comec Italia Srl
- Teca-Print USA
- ESC Europa-Siebdruckmaschinen-Centrum GmbH & Co. KG
More Valuable Insights:
By Product Type:
- Single-Color
- Multi-Color
By Printer Type:
- Rotary
- Flatbed
By Output:
- High
- Medium
- Low
By End-use:
- Pharmaceutical & Medical Devices
- Textile / Apparel
- Automotive
- Consumer Goods
- Others (Electronics, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
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Key Questions Covered in the Report
- The report offers insight into pad printing machine market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for pad printing machine market between 2021 and 2031
- Pad printing machine market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Pad printing machine market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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