According to the new research report on "Temporary Protective Film Industrial Laminating Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 179.37 million by 2028. It is estimated to register a CAGR of 5.6% from 2022 to 2028.
The manufacturing sector significantly impacts the overall economy of the US and accounts for approximately US$ 2.3 trillion of US GDP. EV sales in the US increased by nearly 200% between the second quarter of 2020 and 2021, contributing to a 3.6% penetration rate during the pandemic. The electric vehicle market in the US grew from the annual sale of some thousand vehicles in 2010 to more than 315,000 vehicles during 2018-2020. Such growth prospects in the automotive industry are fueling the growth of temporary protective film industrial laminating machine market in the country. These laminations are widely used in the automotive and medical manufacturing industries to protect the interior and exterior surfaces of products from scratches and abrasions which further propel the growth of temporary protective film industrial laminating machine market in the forecasted period.
Healthcare is the largest and fastest-growing sector in the US. More than 6,500 medical device companies, mostly small and medium-sized enterprises (SMEs), are operational in the country. California, Florida, New York, Illinois, Minnesota, and Georgia are the states with the highest number of medical device manufacturers containing both SMEs and key market players. In the medical industry, laminating machines are used to create prosthetic devices and others which is further boosting the growth of temporary protective film industrial laminating machine market.
The growing automotive and medical manufacturing sectors, along with strategic decisions by market players, are expected to boost the growth of the temporary protective film industrial laminating machine market in Europe during the forecast period. In April 2020, Bobst Italia SpA announced the launch of a new solventless modular laminating machine-NOVA SX 550 LAMINATOR. NOVA SX 550 LAMINATOR handles a wide range of thicknesses and substrates, including thin aluminum foil, metalized film, and stretchable substrates. In January 2019, Kiefel GmbH announced the launch of vacuum laminating technology tailored blank laminating for the automotive industry. Automotive is one of the largest industries in Europe, representing approximately 7% of the region's GDP. According to the European Automobile Manufacturers' Association (ACEA), vehicle sales in Europe increased by 10% in 2021, compared to 2020. Moreover, Europe has the presence of major automotive manufacturers. The increasing production and sales of EVs, and the presence of major manufacturers and suppliers with strong brand value and technological & financial capabilities are likely to propel the demand for temporary protective film industrial laminating machines in the region during the forecast period. Moreover, overall goods manufacturing accounted for 17.3% of the European GDP and 83% of exports in 2022, making Europe the world's largest exporter of manufactured goods. Such growth prospects in the manufacturing and automotive industries in Europe are providing growth opportunities to the temporary protective film industrial laminating machine market in the region.
Aerospace manufacturing is an important industrial sector in Russia. The Russian government is increasingly investing in the aerospace sector to further flourish the aerospace industry in the country. For instance, in June 2022, the Russian government announced an investment of US$14.5 billion in the country's aviation industry to boost the domestic manufacturing of aircraft. Under this investment, the country's government targets the share of domestically produced aircraft in the fleet of Russian airlines should grow to 81% by 2028. Such increasing growth in enhancing the manufacturing of the aerospace industry further fueling the growth of temporary protective film industrial laminating machine market. It thus enhances Russia's temporary protective film industrial laminating machine market growth.
Furthermore, according to Invest India, the size of the medical devices industry in India is expected to reach US$ 50 billion by 2028, and its export of medical devices would reach ~US$ 10 billion by 2025. Thus, such growth in the manufacturing of medical devices will further fuel the growth of the temporary protective film industrial laminating machine market. The temporary protective film helps protect the surfaces of the medical device from scratches and dust during the transport, storage, and processing phases. As new technologies and machines are introduced in the market, the demand for temporary protective film to protect the device is increasing, which is fueling the growth of temporary protective film industrial laminating machine market.
The temporary protective film industrial laminating machine market is segmented on the basis of type and application. Based on type, the market is bifurcated into manual industrial laminators and automatic industrial laminators. Based on application, the temporary protective film industrial laminating machine market is categorized into medical, pharmaceutical, food & beverages, automotive, aerospace & defense, and others.
Key Findings of Study:
The growing use of temporary protective film industrial laminating machines in the food & beverage industry for packaging is fueling the growth of temporary protective film industrial laminating machine market. The increasing need for ready-to-eat and packed food is boosting the demand for laminating machines for food packaging in the market, as it protects them from scratches, abrasion, and contamination from manufacturing to shipment procedure. In the medical device industry, industrial laminating machines are used in the medical equipment and device packing operations to keep them free of dirt and contamination. Further, companies in the temporary protective film industrial laminating machine market are increasingly focusing on strategic decision such as partnerships and collaborations to produce advanced industrial laminating machines. The rising production of new and advanced industrial laminating machines is expected to create opportunities for the temporary protective film industrial laminating machine market growth during the forecast period. In June 2022, KOMFI spol. s r. o. launched Komfi Amiga 52 Double, a flexible laminating system capable of laminating digitally printed offset pieces.
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