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Temporary Protective Film Industrial Laminating Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and Application
Temporary Protective Film Industrial Laminating Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Manual Industrial Laminators and Automatic Industrial Laminators) and Application (Medical, Pharmaceutical, Food & Beverages, Automotive, Aerospace & Defense, and Others).
New York, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Temporary Protective Film Industrial Laminating Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and Application" - https://www.reportlinker.com/p06382151/?utm_source=GNW
The temporary protective film industrial laminating machine market size is expected to grow from US$ 129.20 million in 2022 to US$ 179.37 million by 2028; the market is estimated to record a CAGR of 5.6% from 2022 to 2028.
Growing demand for temporary protective film industrial laminating machines has compelled the market players to make significant investments in the development of new and innovative solutions.This also allows them to differentiate themselves from their competitors by adding different functionalities to their solutions.
For instance, in June 2022, KOMFI spol. s r. o. launched Komfi Amiga 52 Double, a flexible laminating system that can laminate digitally printed and offset pieces. The machine features automatic nip pressure activation, sheet-overlap control, and sheet separation with a built-in perforator, among other automated functions. Further, in May 2021, Graphic Finishing Partners, LLC announced the launch of a heat laminator with smart finishing technology. All parts of this laminator are controlled, maximized, and monitored by a touchscreen microcontroller, which can be accessed through an LED display. The laminator helps the operator reduce errors, maintain production quality, and enhance productivity and repeatability. It also provides timely alerts regarding excessive film tension to rectify the process. Furthermore, in April 2020, Bobst Italia SpA announced the launch of the NOVA SX 550 LAMINATOR, a solventless modular laminating machine. It is designed to deliver cost-effective performance for all production lengths on various substrates and thicknesses. Such innovations in temporary protective film industrial laminating machines is further fueling the growth of temporary protective film industrial laminating machine market. Also, high investments by vendors to upgrade their product portfolios to cater to the changing customer requirements, are creating growth opportunities for the temporary protective film industrial laminating machine market players.
Impact of COVID-19 Pandemic on Temporary Protective Film Industrial Laminating Machine Market
In Europe, the COVID-19 pandemic severely impacted Italy, Spain, France, and Germany, among other countries.The subsequent imposition of lockdowns led to a drastic decline in production across multiple industries, severely affecting the temporary protective film industrial laminating machine market in the region.
The lockdown imposed by the government resulted in the temporary shutdown of several manufacturing plants, which resulted in the low production of temporary protective film industrial laminating machines.However, in 2021, manufacturing businesses resumed with the relaxation of lockdown measures.
With this, the demand for protective films in the automotive, aerospace, and consumer electronics industries began increasing in 2021. These conditions that are conducive to revival are likely to boost the growth of the temporary protective film industrial laminating machine market in the coming years.
In Canada, the demand for temporary protective film industrial laminating machines is driven by growing factory automation and Industrial 4.0. Canadian companies are grabbing opportunities to transform the industrial and manufacturing sectors through technologies. Also, companies from the manufacturing and automotive sectors saw dramatic increases in digital investment and rapid transformation. According to an Economic Strategy report of Canada, Industry 4.0 applications are expected to generate US$ 1.2–3.7 trillion of global economic value by 2025. This is propelling the adoption of smarter machines, which, in turn, favors the growth of the temporary protective film industrial laminating machines market in Canada. Moreover, government initiatives to fuel the adoption of electric vehicles are likely to support the temporary protective film industrial laminating machine market growth in the country during the forecast period.
Asia Pacific is expected to register the highest CAGR in the temporary protective film industrial laminating machine market during the forecast period.Based on country, the temporary protective film industrial laminating machine market in this region is further segregated into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific.
China is expected to account for the largest share of the temporary protective film industrial laminating machine market in Asia Pacific in 2022.China has the largest market size in automotive industry, by annual sales and manufacturing output.
The country represents ~30% of global automobile sales and domestic production is expected to reach 35 million vehicles by 2025. According to the Ministry of Industry and Information Technology, over 25 million vehicles were sold in 2020, including 19.99 million passenger vehicles and 5.23 million commercial vehicles. Such a proliferating automotive industry in China indicates significant prospects for the temporary protective film industrial laminating machine market. These machines are used for packaging automotive parts to protect their surfaces against aberrations and scratches. China is the world’s second-largest exporter of laminating machines; it recorded 18,805 shipments in September 2022. Further, the country is the second-largest packaging market in the world, fueled by the rapid growth in domestic consumption and consistent growth in GDP. According to VDMA (Verband Deutscher Maschinen und Anlagenbau) Association, food packaging consumption is expected to reach 447,066 million in 2023 from 399,858 million packaging items in 2018. The trend of automation in the packaging industry has brought innovations and advancements in industrial laminating machines. Thus, the significant demand for temporary protective film industrial laminating machines in the packaging industry contributes to the temporary protective film industrial laminating machine market growth in China.
A few of the major players operating in the global temporary protective film industrial laminating machine market include Walco S.A.; HSING WEI MACHINE INDUSTRY CO., LTD; Surface Armor, LLC; LEETECH Co., Ltd; Crest Dutch Machinery B.V.; HMT Manufacturing, Inc; Jordon Glass Machinery; APL Machinery Pvt. Ltd.; Universal Laminators; and MECCANICA RONZANI Srl. Various strategic initiatives taken by these companies to expand their geographic presence and increase their product portfolio are further contributing to the growth of the temporary protective film industrial laminating machine market.
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