Heat Transfer Paper Market Demand And Growth Analysis 2022-28

According to Precision Business Insights (PBI) latest report the global heat transfer paper market size was valued USD 594.7 million in 2022 and is poised to grow at a significant CAGR of 4.6% during the forecast period 2022-28. The expansion of the textile/apparel industry is a major contributor to the heat transfer paper market. Furthermore, technological advances in printing formats have resulted in simple techniques for firmer prints on garments. Furthermore, the market is likely to benefit from increased demand for sustainable heat transfer paper.

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Textile Industry Segment Dominate the Heat Transfer Paper Market:
Textile industry accounts the substantial amount of market share and it is expected to grow with a significant CAGR from 2022-2028. Textile industry is expected to grow drastically as heat transfer paper is widely used in the manufacture of customised clothes, particularly bespoke t-shirts. Since customised t-shirts are becoming more popular and appealing among teens, organisations and businesses that cater to this demographic use them as a promotional strategy. Custom-designed t-shirts are commonly supplied at workplace and college events, resulting in a significant demand for associated printing techniques.

North America leads Heat Transfer Paper Market:
In the North America, the heat transfer paper market holds a considerable market share in 2021 and the market expected to grow at significant CAGR during the forecast period. The textile and fabric industry in the United States is one of the most important industries in the country, according to the International Trade Administration (ITA) and the United States Department of Commerce. Yarns, nonwovens, speciality textiles, protective garments, and fashion clothes are all contributing to the industry's growth. This is likely to fuel demand for heat transfer paper in the textile industry and, as a result, revenue growth in the North America market.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Aluminum Market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. In March 2022, Schweitzer-Mauduit International, Inc. and Neenah, Inc., two leading global specialty materials manufacturers, announced that they agreed to merge in an all-stock merger of equals, with combined revenues of approximately USD 3 billion, expanded scale and capabilities, and accelerated growth opportunities. In June 2020, Imaging Supplies Warehouse (ISW) in Missouri, United States, was chosen as a distributor of Neenah Colden hove for the United States.

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The global heat transfer paper market report key players are Neenah Coldenhove, Felix Schoeller Group, One Step Papers LLC, Miroglio Group, PG Paper Company, Stahls' Transfer Paper Experts, Neenah Performance Materials, Guangzhou Elephant Digital Technology Co. Ltd, Atul Paper Pvt. Ltd., Pudumjee Paper Products, GI Paper Coaters, Texprints.

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