Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.2 Billion | USD 5.3 Billion | 5.4% | 2020 |
The global Thermal Transfer Labels market accrued earnings worth approximately 3.2 USD Billion in 2020 and is predicted to gain revenue of about 5.3 USD Billion by 2028, is set to record a CAGR of nearly 5.4% over the period from 2021 to 2028. The report offers an assessment and analysis of the thermal transfer labels market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue USD Billion.
Thermal transfer labels are a kind of printer labels that require ribbon while printing. These products are utilized for myriad purposes like tags, tickets, receipts, and labels. They play a pivotal role in the packaging industry. The flourishing eCommerce sector and ongoing logistics activities will culminate into massive product penetration in packaging over the upcoming years. The rise in regional suppliers for food products has led to a notable surge in the need for thermal transfer labels. Apparently, its high durability feature has added to its demand across the packaging sector.
Escalating demand for drugs and vaccines in the healthcare sector will boost thermal transfer labels market growth. Apart from this, ease of information access to patients and the necessity of reducing medical errors will translate into high market demand in forthcoming years. The growing use of thermal transfer labels in transport and retail sectors for facilitating effective tracking of products will prompt the growth of the size of the thermal transfer labels industry during the forecasting years. In addition to this, thermal transfer labels are of high quality and durable, thereby boosting their sales. The humungous trend of using consumer electronic products with the rising in smartphone and smart gadget penetration will offer new growth opportunities for the thermal transfer labels market in foreseeable future. Massive sales of ready-to-eat snacks from supermarket stores will assist the thermal transfer labels market hit elevated heights of growth over the coming years.
Moreover, the large-scale use of tags, tickets, labels, and receipts along with its utilization in labeling industrial goods, semiconductor products, and other retail goods will proliferate the expansion of the thermal transfer labels industry over the next couple of years. The rise in the use of thermal spray coating on products to combat moisture will open new vistas of growth for the thermal transfer labels industry during 2021-2028. However, laws regulating the use of Bisphenol can retard the growth of the thermal transfer labels business in the ensuing timespan.
The Asia Pacific To Contribute Notably Towards Overall Market Size By 2028
Regional market growth over the assessment period can be credited to the large-scale growth of retail, eCommerce, and electronics sectors in the sub-continent. India and China are expected to be major business destinations for industry players, thereby contributing sizably towards market growth in the Asia Pacific. Low costs of labor in India and China will propagate the growth of the thermal transfer labels market in the upcoming years. Surging demand for logistics products in emerging economies of Asia & South East Asia will spur expansion of the thermal transfer labels industry in the sub-continent over the forecast timeline.
The need for reducing food wastage & emergence of the pharma sector will contribute remarkably toward market profitability over forthcoming years. With easy product tracking in various situations, product sales are bound to increase in the region over the next few years. A steep rise in retail shops in China and India along with favorable government schemes will help the market grow manifold in the Asia Pacific.
Some of the leading in the global market include
The global Thermal Transfer Labels Market is segmented as follows:
By Material
By End-Use
By Printer Type
By Region
FrequentlyAsked Questions
Escalating demand for drugs and vaccines in healthcare sector will boost thermal transfer labels market growth. Apart from this, ease of information access to patients and necessity of reducing medical errors will translate into high market demand over forthcoming years. Growing use of thermal transfer labels in transport and retail sectors for facilitating effective tracking of products will prompt growth of size of thermal transfer labels industry during forecasting years. In addition to this, thermal transfer labels are of high quality and durable, thereby boosting their sales. Humungous trend of using consumer electronic products with rise in smartphone and smart gadget penetration will offer new growth opportunities for thermal transfer labels market in foreseeable future. Massive sale of ready-to-eat snacks from supermarket stores will assist thermal transfer labels market hit elevated heights of growth over coming years.
According to Zion market research report, the global Thermal Transfer Labels market accrued earnings worth approximately 3.2(USD Billion) in 2020 and is predicted to gain revenue of about 5.3(USD Billion) by 2028, is set to record a CAGR of nearly 5.4% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale growth of retail, eCommerce, and electronics sectors in sub-continent. India and China are expected to be major business destinations for industry players, thereby contributing sizably towards market growth in Asia Pacific. Low costs of labor in India and China will propagate growth of thermal transfer labels market in upcoming years. Surging demand for logistics product in emerging economies of Asia & South East Asia will spur expansion of thermal transfer labels industry in sub-continent over forecast timeline. Need for reducing food wastage & emergence of pharma sector will contribute remarkably towards market profitability over forthcoming years. With easy product tracking in various situations, the product sales is bound to increase in the region over next few years. A steep rise in retail shops in China and India along with favorable government schemes will help market grow manifold in Asia Pacific.
The key market participants include Honeywell International Inc., 3M Company, WS Packaging Group, Inc., LINTEC Corporation Inland Label and Marketing Services LLC, Henkel AG & Co. KGaA, CCL Industries Inc., Constantia Flexibles Group GmbH, and Coveris Holdings S.A.
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