Magnesium Photoengraving Plate Market
Magnesium Photoengraving Plate Market Analysis By Thickness (1-3 mm, 3-5 mm & 5-7 mm Magnesium Photoengraving Plates) By Application and By Region – Global Market Insights 2022 to 2032
Magnesium Photoengraving Plate Market Outlook (2022-2032)
Revenue from the global magnesium photoengraving plate market has reached US$ 182 million in 2022 and is predicted to increase at a CAGR of 6.6% to reach US$ 344.9 million by the end of 2032.
Foil stamping application leads revenue generation for magnesium photoengraving plate manufacturers, having accounted for nearly 24% share of the global market at the end of 2021.
Magnesium Photoengraving Plate Market Size (2021A)
US$ 172.1 Million
Estimated Market Value (2022E)
US$ 182 Million
Forecasted Market Value (2032F)
US$ 344.9 Million
Global Market Growth Rate (2022-2032)
North America Market Share (2021)
East Asia Market Growth Rate (2022-2032)
United States Market Growth Rate (2022-2032)
Market Share of Top 4 Companies
Key Companies Profiled
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Sales Analysis of Magnesium Photoengraving Plates (2017-2021) Vs. Market Forecasts (2022-2032)
The use of magnesium photoengraving is increasing in applications such as foil stamping, embossing, debossing, letterpress printing, thermal dies, etc. Growing use of packaging in various industries is helping the magnesium photoengraving plate market grow rapidly.
- Short Term (2022 Q2 to 2025): Magnesium plates are a cost-effective solution as compared to zinc and copper plates, which will fuel market growth.
- Medium Term (2025-2028): Europe and Asia Pacific anticipated to witness high demand for magnesium photoengraving plates. Growing demand for packaging applications across developing countries such as China and India will drive market expansion.
- Long Term (2028-2032): Increasing use of foil stamping, embossing, and debossing for design purposes will drive demand for magnesium photoengraving plates.
During the 2017-2021 historical period, worldwide demand for magnesium photoengraving plates registered a CAGR of 4%, and according to Fact.MR, a market research and competitive intelligence provider, sales are projected to exhibit growth at 6.6% CAGR between 2022 and 2032.
Market share analysis of magnesium photoengraving plates based on thickness and region. Under the thickness segment, 3-5 mm magnesium plates accounts for the highest market share of 48.8% in 2022.
Why are Magnesium Photoengraving Plates Being Preferred Over Other Types?
“Magnesium Photoengraving Plates Widely Used for Packaging & Labelling Purposes”
Magnesium photoengraving plates can be used in several applications such as foil stamping, embossing, debossing, letterpress printing, and thermal dies, to name a few. These are widely used for packaging and labelling purposes in several industries such as paper, leather, and textiles.
Magnesium plates for photoengraving are widely used in embossing applications that help create a single, multi-layered, three-dimensional raised image. The embossing technique is applied at high temperature and high pressure using photoengraving magnesium, CNC brass, and zinc plates. The use of the embossing technique is popular in the packaging of a variety of products.
Foil stamping is used widely in packaging applications for creating striking visuals for stationary, greeting cards, business cards, and wedding cards. Photoengraving magnesium dies are an efficient and cost-effective solution for running short- and medium printing jobs.
Magnesium thermal dies are used to produce vinyl decals. Comically etched magnesium eliminates the time-consuming bending of steel rule dies. As such, demand for magnesium photoengraving plates is set to increase rapidly over the coming years.
“Several Benefits of Magnesium Plates for End-use Manufacturers”
Magnesium and zinc plates are used in similar applications and are available in thickness ranging from 1 mm to 7 mm. Zinc photoengraving plates provide excellent oxidation resistance; however, magnesium plates come with more advantages than zinc plates. Magnesium plates give a higher etching speed and do not deform in the stamping process, have higher printing durability, and provide a better stamping effect as compared to zinc plates.
Magnesium plates are also stronger than zinc plates. Magnesium plates are lightweight and allow smooth heat transfer as compared to zinc plates. With magnesium plates it becomes easier to control accuracy as opposed to copper and zinc plates.
The cost of making a magnesium plate is 30% lesser than a zinc plate and 70% less than a copper plate. In bronze, the production process of magnesium plates is 10% lesser than zinc and copper plates.
The process of hot stamping is the same for magnesium, zinc, and copper; the main difference is in the etching time required. The required etching depth time for magnesium plates is 5 mins, whereas, for zinc plates, it is 25 mins and for copper plates it is 30 mins.
Hardness is also another important advantage that magnesium plates provide. The hardness of magnesium plates is 92 when the temperature is below 50 degrees C. For zinc, it is 36 and for copper it is 96. When the plate is heated above the hardness, for magnesium plates it is 90 while it is 30 for zinc plates and 88 for copper plates.
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What is Threatening Magnesium Photoengraving Plate Market Expansion?
“High Cost & Fluctuating Raw Material Prices”
Manufacturers should watch out for the high cost of magnesium plates for photoengraving. Magnesium photoengraving plates are expensive when compared with laser technology for photoengraving. Also, fluctuating prices of raw materials for the manufacturing of magnesium plates for photoengraving is another headache for market players.
How is the U.S. Magnesium Photoengraving Plate Market Shaping Up?
The United States magnesium photoengraving plate market is projected to expand at a healthy CAGR of 7.2% over the forecast period. The United States market is valued at US$ 30.7 million and is estimated to reach US$ 61.8 million by the end of 2032.
Magnesium photoengraving plates are used in the food & beverage for packaging and printing logos. Increased demand for packaged food has been a key reason for the growth of the magnesium photoengraving plate market in the United States, as many consumers in the country prefer packaged food.
The United States has the world’s largest pharmaceutical industry. The country accounts for nearly 46% share of the global revenue generated worldwide. The magnesium photoengraving technique can also be used in pharmaceutical industries as well for packaging and printing purposes.
Which is the Leading Magnesium Photoengraving Plate Market in East Asia?
China has captured more than 50% share of the East Asia magnesium photoengraving plate market.
The growing economy of China, along with an increased number of small-scale businesses, is creating lucrative opportunities for the manufacturers of magnesium photoengraving plates.
Increasing demand for packaging from several end-use industries has been another key driver for the magnesium photoengraving plate market. Foil stamping, embossing, and debossing are some of the major applications of magnesium photoengraving plates that have been gaining popularity over the years for various types of attractive design purposes.
The Chinese magnesium photoengraving plate market is projected to reach a valuation of US$ 42.9 million by 2032.
How Will Foil Stamping & Embossing Bring in High Revenue for Industry Players?
The use of magnesium plates for photo engraving is increasing in applications such as foil stamping, embossing, debossing, thermal dies, rubber stamps, plaques, awards, etc. Metal foil stamping and embossing dies have seen rapid growth over the years for packaging and labelling applications. Growing demand for greeting cards of various types is driving the demand for foil stamping and embossing for design purposes.
Magnesium, zinc, and copper are used in applications such as plaques & awards, signage nameplates, letterpress, jewelry, switch dies, rubber dies, etc. New applications of foil stamping, embossing, and debossing continue to develop as metal plays a crucial role in graphic arts.
The foil stamping market is valued at US$ 43.8 million in 2022 and is estimated to reach US$ 103.1 million by the end of the forecast period, expanding at a healthy CAGR of 8.9%. Furthermore, with the global economy on the way up, the embossing segment is predicted to expand 1.8X by the end of 2032.
Why are 3-5 mm Magnesium Photoengraving Plates Most Widely Used?
Manufacturers of magnesium plates for photo engraving are looking to produce various types of magnesium plates of different thicknesses that can be applied in several applications. Manufacturers are producing magnesium plates ranging from 1 mm to 7 mm.
By thickness, 3-5 mm magnesium plates have captured nearly 50% of the market share. This segment is valued at US$ 88.8 million in 2022 and is expected to reach a valuation of US$ 180.5 million by the end of 2032, surging ahead at a CAGR of 7.4%. The 3-5 mm magnesium plate segment is anticipated to grow at 2X over the decade.
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Prominent magnesium photoengraving plate manufacturers are Luxfer MEL Technologies, SGZ Metals, EASON New Materials, and Co.Fo.Me.GRA. Srl.
Key manufacturers of magnesium photoengraving plate products are providing various types of plates for different applications. Market players are focusing on expertise and professionalism in planning, designing, and providing solutions for different end-use industries.
- Market players are looking to manufacture magnesium plates of various sizes from 1 mm to 7 mm that can be used for different applications.
- Companies manufacturing plates for photoengraving are looking to replace copper and zinc plates with magnesium plates.
- High density, lightweight, no deformation, fast heat transfer, high specific strength, and environmental protection are some of the benefits of magnesium plates for photoengraving.
Fact.MR has provided detailed information about the price points of key manufacturers of magnesium photoengraving plates positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Magnesium Photoengraving Plate Industry Research
By Thickness :
- 1-3 mm Magnesium Photoengraving Plates
- 3-5 mm Magnesium Photoengraving Plates
- 5-7 mm Magnesium Photoengraving Plates
By Application :
- Foil Stamping
- Hot Foils
- Cold Foils
- Embossing Debossing
- Letterpress Printing
- Thermal Dies
- Rubber Stamps
- Plaques & Awards
- Cash Printing
- Foil Stamping
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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