(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, July 11, 2023 (GLOBE NEWSWIRE) -- The paper core cutting machines are used for cutting heavy wallpaper rolls, and different types of rolls into several sections. Paper cores with large diameters can be cut with the help of the paper core cutting machine, reducing the time and effort required by the manual process. Manufacturers can install the paper core cutting machine because it helps to lower the cost of production.
In 2023, paper core cutting machines market is anticipated to be worth US$ 269.7 million. By 2033, the market is anticipated to reach more than US$ 376.7 million at a CAGR of 3.4%. The core of the paper is divided into many portions using the core cutting machine. Machines for cutting paper cores are crucial for finishing any industrial process.
With the rise of automation in the manufacturing sector, there is significant growth observed in the automatic paper core cutting machine. Additionally, the machine produces a negligible amount of waste while cutting process, which can save the cost and time required for production. The development of automatic and semi-automatic machines by manufacturers is increasing the growth rate of the paper core cutting machine market.
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The increasing demand for paper cores from various industries can be a great opportunity for the major key players in the market. With the expansion of the shipping and logistics sector, the demand for paper cores will increase, resulting in the growth of the paper-core cutting machine market. Expansion of manufacturing operations in emerging economies such as Asia Pacific and Middle East Africa creates major opportunities for the major companies in the market.
Additionally, companies are introducing new machines with digital controls which can high-speed cutting reducing human efforts. The customization of the products according to the consumer need is one of the biggest trends resulting in the growth of the market.
Key Takeaways from th is Market:
The paper core cutting machine industry in China is anticipated to reach US$ 84.0 million by 2033 advancing at 3.3% CAGR during the forecast period. The adoption of automation in industrial processes and manufacturing in the United States is expected to drive the paper-core cutting machine market. The paper core cutting machine industry in India is predicted to reach US$ 37.7 million by 2033, increasing at a 3.8% CAGR. With a CAGR of 6.5% from 2022 to 2033, the semi-automatic segment is expected to dominate the paper-core cutting machine industry. By end use, the textile segment is expected to record a CAGR of 4.8% during the forecast years. Significant growth has been in the textile industry all over the world due to constantly changing fashion trends, an increase in disposable income, and an increased population. The textile industry is the major consumer of paper cores. Also, the increased use of paper due to environmental concerns over plastic usage is contributing to the rise in demand for paper cores. Thus, the textile industry is expected to create a demand for paper-core machines in the future.
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How Does the Competition Look in this Industry ?
With the presence of a large number of players in the market, the paper-core cutting machine market is highly competitive. Several significant participants in this industry comprise EBERLÉ Inc, Zhejiang Jinshen Machinery Manufacture Co. Ltd, Goldmann Automatics Pvt. Ltd., Eureka Machinery, Adroit Engineers, HCI Converting Equipment Co., Ltd., J&D INDUSTRIES, K. U. SODALAMUTHU AND CO. PVT. LTD, Pinnacle Converting Equipment & Services, LLC, and other companies.
Research and development are the main focus criteria among the major players for increasing efficiency, human efforts, sustainability, and reduction in the cost of production. With the rise of the customization trend among consumers, companies are trying to manufacture products that can customize the product and fulfill the consumer demand.
Many new players are entering the market and trying to acquire a market position. Some of the major players are expanding their operations in emerging countries like India, China, etc. Mergers and acquisitions are being performed by the companies to expand their customer base for entering into new markets.
Segmentation Analysis:
By Automation:
Manual Automatic Semi-automatic
By Operating Speed:
Up to 50 cuts per minute 50 to 100 cuts per minute Above 100 cuts per minute
By End Use:
Textiles Paper Mills Packaging Others
By Region:
North America Latin America East Asia South Asia & Pacific Western Europe Eastern Europe Central Asia Russia & Belarus Balkan & Baltic Countries Middle East and Africa (MEA)
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