Growing demand for e-Commerce services and logistics has boosted investments in the manufacturing of thermal transfer labels to be used in the packaging & logistics industry. Demand for paper thermal transfer labels is high and will continue to be so in future as well.
APEJ accounts for a major contribution to the demand for thermal transfer labels. In this region, developing countries such as China and India have numerous key players and end-use industries as compared to other regions. This factor is set to assist the economies of density in APEJ.
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According to a revised report published by Fact.MR, the thermal transfer labels market is anticipated to surpass US$ 4 Bn valuation in 2021, and is poised to expand at a CAGR of over 5% over the next ten years.
Key Takeaways from Market Study
- Demand for thermal transfer labels for trading, logistics & transportation applications is expected to grow 1.8X over the next ten years, and account for nearly 70% of the market share by 2031.
- The APEJ region has the highest market share since the past five years with an average market share of 32% to 34%, and is expected to stay in the top place with an average share of 35% to 38% over the forecast period.
- Paper thermal transfer labels hold major market value share as compared to polyester thermal transfer labels, with nearly 1.2X market value.
- The market in Japan is expected to present an absolute $ opportunity of US$ 277 Mn over the forecast period.
- The market in Latin America is projected to expand at a CAGR of over 5% from 2021 to 2031, while Mexico is expected to gain 816 BPS by 2031.
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“Growth of e-Commerce and trading, logistics & transportation industry shall play a vital role in demand growth of thermal transfer labels,” says a Fact.MR analyst.
Competition Tuning Factor
Key manufactures of thermal transfer labels are 3M Company, CCL Industries Inc., Constantia Flexibles Group GmbH, Coveris Holdings S.A., Henkel AG & Co. KGaA, Inland Label and Marketing Services LLC, Honeywell International Inc, LINTEC Corporation, Multi Color Corporation, TSC Auto ID Technology Co., Ltd., and other local and international manufacturers.
Growing demand for thermal transfer labels from numerous end-use industries and for various applications has increased the market value over the past five years. Despite the market being fragmented, higher potential of the product will attract new players into this space.
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Find More Valuable Insights
Fact.MR, in its new offering, presents a balanced analysis of the global thermal transfer labels market, presenting historical demand data (2016-2021) and forecast statistics for the period of (2021-2031). The study reveals essential insights on the market on the basis of material (paper, polyester, PP, PE, and other materials), printer type (desktop, industrial, and mobile), and application (food & beverages, healthcare, trading, logistics & transportation, industrial goods & products, semiconductors & electronics, retail labels, and other products), across 6 major regions of the world.
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