Apr 29, 2020
Global Thermal Transfer Label Market to Grow at a Steady Clip, Shortfalls in Stock Projected in Near Term amid COVID-19 Crisis, Says Fact.MR
by Team Fact.MR
The global thermal transfer label market is poised to grow at a steady CAGR of 5% over the forecast period (2020-2030). Adoption of e-commerce platforms and soaring demand for ready-to-eat food from hyper-markets and super-markets has facilitated growth of the thermal transfer label market. Furthermore, high growth witnessed in shipping and electronics industry has upheld demand for thermal transfer labels.
Polyester based thermal transfer labels are anticipated to be the fastest growing segment with respect to material used for manufacturing. Thermal transfer labels rolls are being widely used in healthcare, food and retail sectors. The outbreak of COVID-19 has impacted demand for global thermal transfer label industry, as a result of nation-wide lockdowns. Plummeting thermal transfer label stocks are also being witnessed owing to production and supply chain disruptions.
Key Takeaways of the Global Thermal Transfer Label Market Study
- The global thermal transfer label market is expected to create a value opportunity of around US$ 500 Mn during the forecast period, adding 2.0X more value in 2030 as compared to 2020.
- Paper-based thermal transfer labels will continue to dominate demand for thermal transfer label, accounting for more than one-fourth of the global share.
- Polyester thermal transfer labels are poised to grow at a higher growth rate, facilitated by its chemical-resistant properties.
- The global market for thermal transfer label is expected to witness an expanding market share in emerging countries such as India, China and Brazil, owing to the increasing demand for packaged as well as ready-to eat food and mounting demand for semiconductor devices.
- North America is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 200 Mn and is expected to show prolific expansion over the forecast period.
- Thermal transfer label used in retail will continue its dominance in the market, accounting for more than one-fourth of the market share by 2030, with a growth rate of 4% over the forecast period.
“High uptake of thermal transfer labels in e-commerce is anticipated to drive growth of thermal transfer label market at the global level”, says the Fact.MR analyst.
Key Players to Focus on Product Innovation and Regional Expansion
The prominent players of thermal transfer label market include Honeywell International Inc., Henkel AG & Co. KGaA., CCL Industries Inc., 3M Company, Constantia Flexibles Group GmbH., LINTEC Corporation Inland Label and Marketing Services LLC., WS Packaging Group, Inc., Coveris Holdings S.A., RICOH and Xeikon.
Key players are adopting aggressive growth strategies for establishing their presence over regional and global markets. These players are also focusing on product innovation to meet increasing demand compatible with associated application usage. For instance in March 2020, Xeikon has launched CX300, a new digital label press based on next-generation Cheetah 2.0 technology offering shorter lead times and more product diversification to address current market needs for increased versatility, productivity and quality of production.
More Valuable Insights on Thermal Transfer Label Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global thermal transfer label market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study delivers essential insights on the thermal transfer label market on the basis of material (paper, polyester, polypropylene, polyethylene and other), product type(1” core roll labels and 3” core roll labels) and end-use industry (food & beverages, healthcare, tracking, logistic, transportation, industrial goods & products, semiconductor & electronic and retail label industry) across six major regions.
>>> To Get more insights on thermal transfer label market, visit- https://www.factmr.com/report/4762/thermal-transfer-label-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.