Slitting Machine Market: Notable Developments & Geographical Outlook 2022 to 2032
The global slitting machine market was valued at $498 million in 2022 and is expected to grow to $682 million by 2032, at a CAGR of 3.2% during the forecast period.
Paper, plastic film, and metal foil slitting is a common task for a slitting machine. Slitting soft material can be accomplished with either circular or straight blades. To split a large roll of hard material, such as sheet metal, two cylindrical rolls with matched grooves and ribs are used.
Slitting machines are frequently used in converters. It is frequently used in industries that involve material coating, printing, and lamination. Slitting machines are also highly efficient and cost-effective. Furthermore, the packaging industry employs slitting machines to cut plastic rolls into narrower rolls, which are then used on packaging equipment.
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Global slitting machine market: Dynamics
The key driving factor of the global slitting machine is increasing automation in packaging industry along with increasing health consciousness among consumers. The macroeconomic factors are driving the global slitting machine market such as growing economy, increasing per capita income and rapid rate of urbanization in emerging countries such as China, Brazil, Mexico, and India.
The growth of the global slitting machine market is driven by growing demand for slitting machine in metal cutting and increasing investments in the food industry. In addition, rapidly growing paper, as well as plastic industry, is also one the key driving factor to grow the slitting machine market across the globe.
The key restraining factor which restricts to grow the global slitting machine market is the safety regulations related to slitting machine market. Some of the factors trending the slitting machine market include mergers and acquisitions with local players as well as increasing the demand for high quality packaged food. In addition, technological advancement such as slitting machine which is embedded with touch screen PLC (Programmable Logic Controller) is the major trends of slitting machine market across the globe.
Global slitting machine market: Regional Outlook
Based on the geographies, the global slitting machine is segmented into seven regions globally such as North America, Eastern Europe, Asia-Pacific excluding Japan, Latin America, Western Europe, Japan and Middle East & Africa. Among above-mentioned regions, North America contributes high market share in the slitting machine across the globe followed by Western Europe, owing to rapidly growing food industry in this region.
Western Europe is predicted to contribute the significant share in global slitting machine market over the forecasted period, due to the highly growing packaging industry along with significant growth in the automotive industry in this region.
The Asia-Pacific excluding Japan region also captures for the significant share of the global slitting machine market with high growth rate, attributed to increasing per capita income, the rapidly growing population, along with highly growing steel industry in this region. Latin America is estimated to showcase a positive growth rate in the global slitting machine market, owing to robust growth in the steel industry and changing the life style of consumers in this region. The Middle East and Africa is estimated to witness high growth rate in global slitting machine market, attributed to high growth in the metal slitting industry in this region.
The report covers exhaust analysis on:
Market Segments Market Dynamics Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies involved Technology Value Chain
Few associated players of global slitting machine market as follow:
Dah Bah Machinery Industrial Inc. HCI Converting Equipment Co., Ltd. Universal Converting Equipment TTR EUROWORKS BV Euromac s.r.l. ASHE Controls Limited Yo Den Enterprises Co., Ltd Toray Engineering Co.,Ltd. Webcontrol Machinery Corp.
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Key Segments Profiled in the Slitting Machine Market Survey
By Type:
Roll/Log Slitter Slitter Rewinders
By Operation:
Manual Automatic
By Material:
Paper Foil Polymers Other
By Region:
North America Latin America The Asia Pacific MEA Europe