Magnesium Photoengraving Plate Market Is Surpassing A Valuation Of US$ 344.9 Mn By 2032 | Fact.MR Analysis

As per a new report by Fact.MR, a market research and competitive intelligence provider, the global magnesium photoengraving plate market is valued at US$ 182 million in 2022 and is expected to expand at a CAGR of 6.6% over the 2022-2032 study period. Market growth is mainly being aided by increasing demand for magnesium plates for photoengraving in packaging applications.

Magnesium photoengraving plates are widely used in foil stamping, embossing, and debossing, which can be then used in packaging and design purposes in various industries. Magnesium plates are cost-effective and time-savers when compared to zinc plates and copper plates, and have an upper hand because of higher etching speed and printing durability as well.

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Demand for photoengraving plates has been increasing for pharmaceutical packaging, as well as in the paper, leather, and textile industries for design & labelling purposes.

Key Takeaways from Market Study

• The global magnesium photoengraving plate market is projected to expand at an impressive CAGR of 6.6% and reach US$ 344.9 million by 2032.
• The market expanded at 4% CAGR from 2017 to 2021.
• Under thickness, 3-5 mm magnesium plates lead and are currently valued at US$ 88.8 million.
• Europe dominated the worldwide market with 30.6% share in 2021.
• Under application, foil stamping accounted for a market share of 24.1% in 2021.
• Sales of magnesium photoengraving plates are projected to surge at CAGRs of 7.4% and 7% in Europe and North America, respectively.
"Foil stamping, embossing, and debossing are some of the applications of magnesium photoengraving plates, which is expected to attract a variety of end-use industries such as food packaging, pharmaceuticals, and automotive, in the long run," says a Fact.MR analyst.

Market Development

Manufacturers of plates for photo engraving are looking to replace copper and zinc plates with magnesium plates owing to their several benefits such as lightweight, high density, fast heat transfer, good shock absorption, and environmental protection.

Market players are also looking to produce magnesium plates of various thicknesses that can be applied in several of end-use applications. In addition, prominent market players are focusing on enhancing their consumer base across end-use industries as well as regions.

Some of the leading players include

• Luxfer MEL Technologies
• SGZ Metals
• EASON New Materials
• CO.FO.Me.GRA. Srl

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Market Segmentation:

• By Thickness :
o 1-3 mm Magnesium Photoengraving Plates
o 3-5 mm Magnesium Photoengraving Plates
o 5-7 mm Magnesium Photoengraving Plates

• By Application :
o Foil Stamping
 Hot Foils
 Cold Foils
o Embossing Debossing
o Letterpress Printing
o Thermal Dies
o Flexography
o Rubber Stamps
o Plaques & Awards
o Cash Printing
o Others

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global magnesium photoengraving plate market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on thickness (1-3 mm, 3-5 mm, 5-7 mm) and application (foil stamping (hot foils, cold foils), embossing, debossing, letterpress printing, thermal dies, flexography, rubber stamps, plaques & awards, cash printing, etc.), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

https://www.globenewswire.com/en/news-release/2022/08/01/2489126/0/en/Surge-In-Demand-From-Pharmaceutical-And-Food-Processing-Industries-Is-Expected-To-Boost-The-Growth-Of-Market-By-5-3-CAGR-During-Forecast-Period.html

https://www.prnewswire.com/news-releases/india-magnesium-nitrate-hexahydrate-market-to-surpass-nearly-us-112-mn-by-2032-end-301457101.html

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