According to Future Market Insights (FMI), the global pad printing machine market exhibit a CAGR of 5.4%, driven by high demand for automated printing machines and integration of latest technologies in pad printing mechanism.
The pad printing process is basically an indirect process for photogravure printing where the image from 2D format is transferred on a 3D object. Silicone pads for their property of being ink repellant are used as a transfer medium for the ink onto the object.
Disruptive intelligent automation and industrialization are key drivers of the pad printing machine market. Any slowdown in the global economic growth has a far-reaching impact on pad printing machines sales because it not only impacts pricing and demand but also affects the availability of machines and import-export factors in the market.
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Thanks to economic recovery post COVID-19 outbreak, sales in the market is picking up, albeit gradually. FMI predicts impressive prospects for growth as sales recover in the automotive sector, which is a key end user of pad printing machines.
As a result of the increasing per capita income of consumers across the globe, the automotive industry is growing rapidly. The economic, as well as luxury car segments within the automotive market have witnessed steady growth in the past decade. Furthermore, the popularity of electric vehicles and hybrid electric vehicles is picking up globally.
The pad printing technology is widely used in the printing of various components and parts of vehicles including knobs, centre console components, indicator parts, dashboard components, door handles, wheel rims, and automotive electronics plastics among others.
The players in the automotive industry often use pad printing machines to improve the décor and attractiveness of small components. This is generally done to enhance the aesthetic appearance of the vehicle and introduce unique identifying features, with an aim to stand out in the competition. The consistent growth of the automotive industry and growing applications of pad printing solutions are anticipated to drive the market for pad printing machines during the foreseeable future.
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.
Adoption of Camera Integrated Systems in Pad Printing Machines to Bolster the Market Growth
Some of the pad printing machine manufacturers are introducing cameras at several steps of the printing process. The cameras enable users to detect any errors and check the calibrations of the machine set up. The cameras are used depending on the applications and requirements often to check the position of the object in the jig and/or the printed image after contact with the pad.
In the automatic machines, the corrections can be configured immediately if any misprint is noticed for example because of the incorrect printing position. This helps in avoiding additional costs incurred if the bulk quantity is misprinted and needs to be replaced or reprinted.
Pad Printing Machines Market Landscape
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 are some of the market players in pad printing machine market. Key market players in tier one hold 25% to 35% of the global market share.
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