The global Slitting Machine Market size stood at USD 498 million in 2022 and is projected to reach USD 682 Million by 2032, exhibiting a CAGR of 3.2% during the forecast period.
Due to the use of more sustainable packaging materials, the flexible packaging industry has seen gradual growth. In this way, there are fewer requirements related to water and energy use, transportation efficiencies, the prevention of food waste, and so forth. Thus, the growth in the flexible packaging industry increases the demand for slitting machines, thereby driving slitting machine market growth.
| Report Attribute | Details |
|---|---|
| Slitting Machine Market Value (2022) | USD 498 Million |
| Slitting Machine Market Anticipated Forecast Value (2032) | USD 682 Million |
| Slitting Machine Market Projected Growth Rate (2022 to 2032) | 3.2% |
Additionally, the industry of slitting machines is gaining popularity due to the demand for flexible packaging. The flexible packaging industry includes converting raw materials through printing, laminating, coating, and slitting. As a result, automation technologies not only enhance machine productivity but also reduce downtime and changeover cycle times which in turn increases the efficiency of the whole converting process. Thus, the integration of automation technology is driving the sales of slitting machines in the present market.
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Automation of packaging
The key driving factor of the global slitting machine market is increasing automation in the packaging industry along with growing health consciousness among consumers. Global slitting machine market growth is largely driven by macroeconomic factors such as a growing economy, rising per capita income, and rapid urbanization in emerging countries such as China, Brazil, Mexico, and India.
Industrial growth
The growth of the global slitting machine market is driven by the growing demand for slitting machines in metal cutting and increasing investments in the food industry. The rapidly growing paper industry, as well as the plastic industry, are also contributing to the growth of the slitting machine market worldwide.
Technological advancement
Slitting machines have undergone various technological advancements and have adopted automation technologies to enhance machine performances. A machine with these features can automatically position knives, collect data, adjust processes, and perform many other kinds of functions, reducing the amount of manual work required.
Digital integration
Furthermore, technological advancements, such as slitting machines equipped with touch screen PLC (Programmable Logic Controller), are one of the major trends in the global slitting machine market. As various industries adopt artificial intelligence (AI) and automation solutions to improve efficiency and effectiveness, the global slitting machines market is expected to grow during the forecast period.
Safety regulations may be a challenge
One of the key factors restraining the growth of the global slitting machine market is the safety regulations related to slitting machines.
North America is expected to hold a significant share of the global slitting machines market, accounting for 23% of the market share through the forecast period.
This is due to its strong manufacturing capabilities, which are expected to drive the slitting machines market in North America. However, North America is expected to experience moderate growth during the forecast period. The reason for this is due to the shifting of manufacturing facilities and mills to China and India, along with other developing regions.
Europe is projected to hold a considerable share of 26% of the global market for slitting machines through the forecast period.
Slitting machines are used in the pulp and packaging industries for operations such as die cutting or shearing. As a result, pulp prices have increased, and packaging demand has increased in the region.
This is also attributed to the increasing number of packaging industries in the region, which would lead to an increase in per capita consumption. Besides, the European Union and its governments are making large investments in manufacturing projects which are expected to contribute to further growth in sales of slitting machines in this region.
The Asia Pacific is expected to hold the largest market share.
This is primarily due to the presence of two of the most densely populated countries, namely China and India. This region attracts manufacturers for its lower capital cost and labour cost, along with being a major consumer of a variety of paper products.
China itself possesses a dominant share of the sales of slitting machine in the global market. Along with its high production capacity at a lower price, China can export a lot more than the other players in the market. Moreover, the increasing number of paper and paper board manufacturing facilities in Japan, China, and India is expected to lead to a strengthening of the demand for slitting machines during the forecast period.
Principal Consultant
The market is highly fragmented, with local and regional companies catering to the demand for slitting machine. Due to this, the quality of these machines and the adoption of the most advanced technology by key players will distinguish their products in the market.
To expand the geographical foothold and upgrade the product technologies, the majority of competitors in the slitting machines market adopted partnerships as their key strategy. Some of the other factors trending in the slitting machine market include mergers and acquisitions with local players, as well as increasing the demand for high-quality packaged food.
The new players are investing more in research and development so that they can introduce new and innovative technologies to their machines. For efficient and high production capacity, manufacturers should use smart and advanced technology along with modern marketing strategies to achieve higher sales of slitting machine.
The market is fragmented with highly competitive players in the slitting machine market including:
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.2% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Operation, Material, Region |
| Regions Covered | North America; Latin America; The Asia Pacific; MEA; Europe |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC, South Africa |
| Key Companies Profiled | Dah Bah Machinery Industrial Inc.; HCI Converting Equipment Co., Ltd.; Universal Converting Equipment; TTR EUROWORKS BV; Euromac SRL; ASHE Controls Limited; Yo Den Enterprises Co., Ltd; Toray Engineering Co., Ltd.; Web Control Machinery Corp. |
| Customization | Available Upon Request |
The slitting machine market can reach a value of USD 682 Million by 2032.
The global slitting machine market worts around USD 498 Million in 2022.
The Asia Pacific is expected to hold the highest market share.
The slitting machine market is expected to grow at a CAGR of 3.2% through 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Slitting Machine Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use Industry 5.1. Packaging 5.2. Healthcare & Pharmaceuticals 5.3. Paper 5.4. Plastic 5.5. Automotive 5.6. Steel 6. Global Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Capacity 6.1. Automatic Thermal Paper Slitting Machine 6.2. Automatic Slitting Rewinding Machine 6.3. Automatic Roll to Sheet Cutting Machine 6.4. Cash Register Paper Roll Slitting Machine 7. Global Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. MEA Slitting Machine Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Slitting Machine Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Dah Bah Machinery Industrial Inc. 15.2. HCI Converting Equipment Co., Ltd. 15.3. Universal Converting Equipment 15.4. TTR EUROWORKS BV 15.5. Euromac s.r.l. 15.6. ASHE Controls Limited 15.7. Yo Den Enterprises Co., Ltd 15.8. Toray Engineering Co., Ltd. 15.9. Webcontrol Machinery Corp. 15.10. Atlas Converting Equipment Ltd. 16. Assumptions & Acronyms Used 17. Research Methodology
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Slitting Machine Market
