Slitter Market Size, Share, Growth, and Industry Analysis, By Type (Flat Slitting, Extrusion Slitting, Round Slitting), By Distribution (Paper Film, Foil Material, Others), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

SLITTER MARKET REPORT OVERVIEW

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The global slitter market size was USD 884.72 million in 2022 and the market is projected to touch USD 1229.91 million by 2028, exhibiting a CAGR of 5.64% during the forecast period.

To meet the increasing demand and provide lucrative prospects for market participants in the projection period, manufacturers are bringing sustainable and eco-friendly converted paper goods to the market. Furthermore, the slitter market growth will continue to develop in the future due to the growing use of high-end converting machinery.

The market is anticipated to grow in the future for a number of reasons. First off, the market is expanding due to the growing need for flexible and customizable packaging solutions. Packaging makers greatly appreciate the machine capacity to precisely slice and split materials in various sizes and widths. The textile industry's growing use of machinery to treat materials for different uses is also driving the market's expansion.

COVID-19 Impact: Shattered Supply Chain to Deplete Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The market was negatively impacted by the latest coronavirus outbreak. The COVID-19 pandemic's stoppage had a detrimental effect on the packing industries' ability to operate slitter reminder machines. The COVID pandemic also caused a drop in the packaging industry's demand, which had a negative impact on the market. A variety of other problems, such as a shattered supply chain, inaccurate component or supply of raw materials, trade prohibitions from government agencies, and others during COVID-19, essentially hindered the market.

LATEST TRENDS

"Plenty of Benefits of the Device to Stimulate Market Development"

The machines are becoming more and more popular among businesses because of their many benefits. The capacity of the machines to increase overall manufacturing process efficiency is advantageous to the companies. The precision of the process is increased by the machine's full automatic operation, which requires minimal or no human input. Consequently, the costs incurred by producers as a result of errors or wasted inferior products are reduced. These factors are contributing to the market's favorable expansion for the machines.

Moreover, the growing inclination of manufacturers preferring machines due to their increased productivity and efficiency would accelerate the growth of the market.  The market value will be driven by the growing disposable income and expanding urbanization.

SLITTER MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into flat slitting, extrusion slitting, round slitting.

Flat Slitting: Slicing an entire roll or sheet of stuff into thinner strips or widths is known as slitting, and flat-straight slitter cutters are one sort of cutting instrument used in this procedure. Usually constructed of high-carbon steel, slitter blades are meant to endure the rigors of the slitting procedure.

Extrusion Slitting: In extrusion cutting, unlike conventional cutting, where the qualities of the material that is being cut also play a role in determining the deformation, the process can be characterized as mathematically restricted orthogonal cutting.

Round Slitting: Slitting is a common method of cutting sheet metal with circular cutters. Slitting is the process of cutting sheet metal with circular blades to trim the edge of rolled sheet or to break wide, coiled sheet metals into narrower widths.

• By Application

Based on application the global market can be categorized into paper, film, foil material, others.

Paper: Numerous businesses, including the food, rubber, agricultural, and recreational sectors, in addition to other markets, use the slitters. The slitters are used in the paper industry to cut rubber rolls and sheets into the appropriate sizes for a variety of uses.

Film: In subminiature photography, a film slitter, sometimes known as a film splitter, is a tool used to cut 135 or 120 roll film in 16mm or Minox film for usage with subminiature cameras.

Foil Material: A foil slitting machinery is a specialist slitter rewinder made to effectively cut big rolls of aluminum and copper foil into the appropriate width for a variety of uses. Lithium-ion batteries, outstanding durability printed circuit boards also known as PCBs, along with IC substrates are some examples of these applications.

Others: The machines are used in both trade and agriculture to help cut and process commodities including plastic sheets, leather, and fabric. They are also used in other markets where precise and effective cutting of different materials is needed.

DRIVING FACTORS

"Growing Use of Paper Products to Support Market Expansion"

The growing disapproval of plastic usage among consumers is driving up demand for products composed of converted paper. Consequently, a big portion of consumers adopt paper items. The machines must be used extensively in the manufacturing of converted paper goods.  As more end users use conversion paper products including paper bags, sanitation paper products, and corrugated products, the marketplace is expected to grow.

"Large Scale Converting Companies to Foster Industry Progress"

The machines efficiently maintain low, continuous tension on the rewinding material. Thus, they are an excellent choice for converting pressure-sensitive materials including technical films, thin films of plastic and sheets, metal foils, and other materials of a similar nature. Furthermore, large-scale converting companies worldwide are selecting machines as a result of heightened efforts by major machine makers to promote these machines.

RESTRAINING FACTOR

"Linked Cost Problem to Stop Market Evolution"

The high cost of the machines limits their use even further and raises questions about affordability for small business owners who cannot afford such costly equipment. The cost problem makes the market growth rate for the machines even more difficult to predict.

SLITTER MARKET REGIONAL INSIGHTS

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"Asia Pacific to dominate the Market Owing to Rapid Urbanization "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific region led the global market and is predicted to maintain its lead throughout the forecast period. As a result of growing product demand from end-use sectors including packaging, automotive, and construction, the area is also expected to see significant expansion. Furthermore, the increasing demand for consumer products brought about by the population growth and rapid urbanization would propel the regional market even further.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• ConQuip (U.K.)
• Deacro (Mexico)
• Kampf (Germany)
• Nishimura (Japan)
• Jennerjahn Machine (U.S.)
• Kesheng Machinery (China)
• Cheung kong Machinery Equipment (China)
• Euromac (Italy)
• Shenli Group (China)
• Goebel (U.S.)
• Bimec (India)
• PSA Technology (Germany)
• Atlas Converting Equipment (U.K.)
• Parkinson Technologies (U.S.)
• Jota Machinery (China)
• Ruihai Machinery (China)
• Catbridge (U.S.)
• NICELY (Israel)
• Laem System (U.S.)
• IHI Corporation (Japan)
• Hakusan Corporation (Japan)
• Yongsheng New Materials Equipment (China)
• ASHE Converting Equipment (U.K.)

INDUSTRIAL DEVELOPMENT

March 2023: GOEBEL IMS, a division of MS TECHNOLOGIES S.p.A., unveiled a new version of the OPTIWIND slitter rewinder machine in March 2023. This machine is utilized for shaftless unwinding of paper and paperboard. The GOEBEL IMS Divisional Unit's centerpiece is the OPTIWIND paper converting technology. Reels as wide as five meters can be cut and rewound by the equipment, yielding completed reels with width as small as 70 mm.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.