Magnetic Cylinder Market Size, Share, Growth, and Industry Growth, By Type (OEM, Aftermarket), By Application (Consumer Goods and Personal Care, Medical & Pharmaceutical, Industrial & Automotive Fabrication, Packaging, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Magnetic Cylinder Market REPORT OVERVIEW

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The global magnetic cylinder market size was USD 94 million in 2021 and is projected to touch USD 170.79 million by 2031, at a CAGR of 6.8% during the forecast period.

Magnetic cylinders are made of stainless steel to resist corrosion, giving them high, balanced adhesion during use. Cylinders with an aluminum or hollow body are usually lightweight, which provides balance to the flexible die of the body and are used to store information on a computer along with being used for the printing of press material. The wide applications of the cylinders include automotive, packaging, consumer goods, personal health care, and others.

The demand for these cylinders has grown exponentially after the pandemic, as industries and automotives are functioning in full swing due to demand for excess production. As demand fuels across regions, the magnetic cylinder market is set to boom from production to manufacturing to printing and packaging. The need for laptops and PCs increased massively during the pandemic, thus booming the demand for the cylinders and industrial, automobile, and medical equipment. The industry will grow at a rate never seen before as demand returns to normal.   

COVID-19 Impact: Excess Production Demand Boosted Market Growth

As packaging and manufacturing demand has increased post the pandemic, the need for magnetic cylinders has proliferated. The market has seen rapid growth in Asia and North America, as both regions occupy a significant market share due to excess production demand. However, disruptions in the printing industry affected the market demand for the cylinders due to fears of infection spread via papers. Thus, the pandemic had its share of ups and downs for the market.

LATEST TRENDS

"Mergers and Automobile Demand to Boost Market Growth"

With mergers on the rise, the top companies that will lead the market growth include RotoMetrics, Maxcess, and Electro-Optics. As automobile giants return to an already battered economy, industrial and automotive fabrication is set to expand at a massive scale worldwide. The demand for magnetic cylinders in engines and other equipment, including laptops, PCs, and medical equipment, will likely augment the market growth, thereby positively affecting the market and stakeholders to record path-breaking sales.

Magnetic Cylinder Market Segmentation

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• By Type Analysis

Based on type, the market is subdivided into OEM and Aftermarket

Aftermarket is the leading part of the type segment.

• By Application Analysis

Based on the applications, the market is subdivided into consumer goods and personal care, medical & pharmaceutical, industrial & automotive fabrication, packaging, and others.

Consumer goods and personal care is the leading part of the application segment.

DRIVING FACTORS

"Technological Innovations to Increase Market Productivity"

Built with precision, these cylinders with flat bases make an existing press better and more productive, producing superior products in less time and reducing labor. Innovative engineering, precision manufacturing, and labor-saving power of these magnets make the cylinders and bases a profitable add-on to any printing mechanism. Thus, with new products, superior products will be produced in no time and cut down on manufacturing costs, which will benefit the investors. These features will drive the magnetic cylinder market growth to greater levels.

"Increased Demand for Medical Products and Automotive to Drive Market Growth"

The medical and pharmaceutical industry has been demanding bulk production from manufacturers as medical complications increase worldwide. The use of the cylinders to produce heavy medical equipment used to treat patients drives the market growth. Industrial and automotive fabrication processes also use cylinders in their manufacturing. The increased demand for automobiles after the pandemic in the market for manufacturing vehicles, engines, batteries, and others is also an essential component. The North American region will be one of the most critical driving factors as most automobile manufacturers worldwide are based in the area. Thus, the consumption of the region will play a key role in propagating the market.

RESTRAINING FACTORS

"Corrosive Factors Due to Environmental Change May Affect the Cylinders "

The corrosive nature of magnetic cylinders due to changes in the environment may hamper the production process of products. Furthermore, if the magnet is not attached accurately to the cylinder, it may wear off quickly or turn brittle. If these factors and conditions are not taken care of, the magnetic field of the cylinders may decrease over time, thus causing the product demand to fall in the market.

Magnetic Cylinder Market REGIONAL INSIGHTS

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"Asia Pacific to Lead Market Share as Production Demand Fuels"

Asia Pacific will likely dominate the magnetic cylinder market share with a 35% stake, followed by Europe and North America. The production demand for personal care products and the packaging industry has led to market growth in the Asia Pacific region, with China and India being the top contenders or players in the field. As the demand continues to fuel and Europe faces unprecedented challenges due to the Russia-Ukraine war, all eyes will be on the Asia Pacific market to compensate for the loss. Investors must, therefore, closely watch the region for the latest developments and innovations.

KEY INDUSTRY PLAYERS

The report analyzes different market players in the industry. The information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations. Other aspects of the report include a study on the companies, regions, automation, technological developments, and the impact of newly emerging industries along with their risks. The facts in the report may be subject to change, given the situation of market players from time to time.

List of Market Players Profiled

• RotoMetrics (U.S.)
• Bunting Magnetics (U.S.)
• Wilson Manufacturing (U.S.)
• Wink Stanzwerkzeuge (Germany)
• ESON (U.S.)
• Spilker GmbH (Germany)
• KOCHER+BECK (U.S.)
• Rotometal
• HCR (U.S.)
• Hadesheng (China)

INDUSTRY DEVELOPMENT

January 2020: The leading manufacturing company Maxcess merged with RotoMetrics of the U.S. According to the company CEO of Maxcess, the move will benefit its OEM end-consumers and enhance their productivity and efficiency. The technological innovations in the market will offer new avenues for rotary dies, tooling solutions, precision rolls, and others. With Maxwell offering innovative and efficient cylinders in the market, the company's rise is definite in the near future. 

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.