Thermal Transfer Label Global Market Report 2023

·5 min read

Major players in the thermal transfer label market are 3M Company, Constantia Flexibles Group, CCL Industries Inc., Coveris Holdings S.A, Henkel AG & Co, Honeywell International Inc., Inland Label and Marketing Services LLC, LINTEC Corporation, Multi-Color Corporation, WS Packaging Group, TSC Auto ID Technology Co.

New York, March 29, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Thermal Transfer Label Global Market Report 2023" -
Ltd., Ricoh Holdings, Zebra Corporation, SATO Group, and Avery Dennison Corporation

The global thermal transfer label market grew from $2.68 billion in 2022 to $2.93 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The thermal transfer label market is expected to grow to $3.89 billion in 2027 at a CAGR of 7.3%.

The thermal transfer label market consists of sales of thermal transfer labels and direct thermal labels.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Thermal transfer labels refer to a ribbon that is printed through a thermal transfer printer where, at the point of the print head, a layer of ribbon is placed on top of the label. The thermal transfer label are used to produce long-lasting and durable images on a wide variety of materials.

North America was the largest region in the thermal transfer label market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the thermal transfer label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of printers in thermal transfer labels are desktop, industrial, and mobile.Desktop thermal transfer printers are best suited for long-term labeling applications that will be used for more than six months or exposed to harsh conditions such as chemicals, light, high temperatures, or water.

The different materials include paper, polyester, polypropylene (pp), polyethylene (pe), and other materials and are used in food and beverages, healthcare, tracking, logistics, and transportation, industrial goods and products, semiconductors & electronics, retail labels, and other end users.

Rapid growth in the e-commerce sector is significantly contributing to the growth of the thermal transfer label market.E-commerce refers to the buying and selling of products using the internet.

It includes internet-based activities such as product purchasing and selling, as well as monetary transactions.With the rise of online shopping, there is a greater demand for a variety of labels and packaging.

For instance, according to the India Brand Equity Foundation (IBEF), an India-based government agency, the e-commerce market is expected to increase from $46.2 billion in 2020 to $111.40 billion in 2025 and it is expected to reach $350 billion by 2030. Therefore, rapid growth in the e-commerce sector is driving the growth of the thermal transfer labels market.

Strategic partnerships are the key trend gaining popularity in the thermal transfer label market.Major companies operating in the thermal transfer label market are undergoing partnerships to reinforce their position.

For instance, in January 2022, Brother Mobile Solutions, a US-based provider of thermal transfer labels, partnered with TEKLYNX, a US-based provider of barcode label software solutions.Through this partnership, Brother delivers a range of industrial and commercial thermal barcode label printers that are compatible with TEKLYNX software solutions.

Furthermore, in September 2021, Mark Andy, a US-based innovator of narrow- and mid-web printing and finishing equipment, partnered with UPM Raflatac, a Finland-based thermal transfer label provider. Through this partnership, both companies would deliver best-in-class digital label printing solutions to flexographic and digital converters.

In July 2021, ARMOR Group, a France-based industrial capital equipment and custom metal fabrication manufacturing company acquired International Imaging Materials, Inc. for an undisclosed amount. The acquisition positions the company as the global market leader in the design and manufacture of thermal transfer ribbons for the printing of variable traceability data on labels and flexible packaging. International Imaging Materials, Inc. is a US-based manufacturer of consumables for printing, imaging, and marking.

The countries covered in the thermal transfer label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The thermal transfer label market research report is one of a series of new reports that provides thermal transfer label market statistics, including thermal transfer label industry global market size, regional shares, competitors with a thermal transfer label market share, detailed thermal transfer label market segments, market trends and opportunities, and any further data you may need to thrive in the thermal transfer label industry. This thermal transfer label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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