Market Leader - Tension Control Market
The global tension control market is expected to grow at a CAGR of 4.65% from 2017 to 2022, to reach a market size of USD 1,118.8 Million by 2022. The increasing demand for automated tension control and the rising transition toward flexible printing & packaging from rigid packaging are driving the market across the world. The rise of pharmaceutical manufacturing in the Asia Pacific region provides opportunities for the growth of the tension control market.
The flexible printing & packaging segment of the tension control market, by application, is expected to grow at the fastest rate from 2017 to 2022. The segment is driven by the transition from rigid packaging to flexible printing & packaging in North America, Europe, and Asia Pacific. This transition is mainly due to increased competition among retailers, which, in turn, has increased the demand for high-quality labeling, printing, and packaging. All these factors are expected to offer lucrative business opportunities to the suppliers of tension control products in the flexible printing & packaging segment during the forecast period.
On the basis of type, the automated segment is expected to grow at the fastest rate from 2017 to 2022. This segment is expected to grow at a steady pace due to the rapid adoption of automated systems in the paper-processing industry and other industries such as pharmaceutical and metal & foil. The automated segment is also growing due to the requirement of high-quality printing & packaging, particularly in the labeling and food & beverage industries.
The dancer roller segment by component is estimated to grow at the fastest rate during the forecast period. The dancer roller component finds applications for the closed-loop automated tension control mainly in narrow web applications, such as the paper-processing industry for various end products such as tissue papers, graphic papers, laminating papers, newsprint materials, packaging papers, and corrugated materials. The rising installation of the closed-loop configuration is also a factor in driving the growth in the segment. This is because the closed-loop configuration provides high accuracy of tension control with a minimum material wastage.
The tension control market has been segmented, by region, into North America, Europe, Asia Pacific, the Middle East, South America, and Africa. Asia Pacific is expected to grow at the fastest rate during the forecast period, followed by Europe. The growth in the market in Asia Pacific is driven by countries such as China, India, and Indonesia. The increase in packaging machinery imports and production, along with rapid growth in the food & beverages and pharmaceutical industries is the major driver for tension control in the region.
Related Reports:
Tension Control Market by Type (Automated & Manual), Component (Load Cell, Controller, Diameter Sensor, Dancer Roller, Brake, Clutch), Application (Paper, Flexible Printing & Packaging, Metal & Foil, Others), and Region - Global Forecast to 2022
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