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Thermal Transfer Label Market- Recent Study including Growth Factors, Applications, Regional Analysis, Key Players and Forecasts 2022
The market for thermal transfer label is catering to diverse application sectors, ranging from healthcare and transportation to retail and electronics, and feeding off the prosperity of each of them. Consequently, the demand in the global thermal transfer label market is projected to expand at a substantial CAGR of 5.5% during the forecast period of 2017 to 2022. The future of the thermal transfer label market is also dependent on innovation, as there are vast possibilities of its application for simple to complex tracking of products, individuals, and payment transfers.The thermal transfer labels are adoptable to irregular and curved surfaces, offer resilience against wear and tear, and vastly improve the efficiency of tracking in busy environments such as airports, hospitals, and retail shops. As far as revenue is concerned, the global thermal transfer label market has been estimated to be worth US$3,003.3 mn by 2022, up from its evaluated valuation of US$2,296.6 mn in 2017.
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Paper Thermal Transfer Labels Producing Maximum Demand
Based on material, the global thermal transfer label market has been segmented into paper, polyester, polypropylene (PP), and polyethylene (PE). In 2017, paper segment accounted for 36.7% of the total demand in the thermal transfer label market across the world, generating a revenue of US$843.7 mn. During the forecast period of 2017 to 2022, the demand for paper thermal transfer label is anticipated to increase at a CAGR of 7.5%, which is much higher than the other three segments. Paper labels can withstand environmental conditions such as heat and sunlight, offer high quality printing and unlimited flexibility, and moderate durability. These labels are available in a variety of sizes to meet the requirement. By the end of 2022, the paper segment of thermal transfer label market has been estimated to be worth US$1,209.3 mn, which will reflect 40.3% of the overall demand. This segment is growing at 73.1 mn annually over the course of the forecast period.
On the basis of printer type, the global market for thermal transfer label has been bifurcated into desktop, industrial, and mobile, whereas application-wise, the market has been categorized into healthcare, tracking, logistics, and transportation, industrial goods and products, retail, semiconductor and electronics, and others.
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APEJ Projected for Best Growth Rate among All Regions
Geographically, apart from a dedicated chapter on the country of Japan, the report takes stock of the potential of the thermal transfer label market in the regions of North America, Europe, Latin America, Asia Pacific except Japan (APEJ), and the Middle East and Africa (MEA). During the forecast of the forecast period of 2017 to 2022, the APEJ region is projected for the best CAGR among all regions, i.e. 6.9%. This region is estimated to produce a demand for thermal transfer label worth of US$293.2 mn between 2017 and 2022. North America is another highly profitable region, though the progress rate is lot slower than that of APEJ. Expanding the demand at 4.3% during the said forecast period, the North America thermal transfer label market is evaluated to be worth US$616.9 mn by 2022, significantly up from its valuation of US$499.4 mn in 2017.
The Europe thermal transfer label market is expanding at a CAGR of 4.9% and promises to present a demand worth of US$754.3 mn, whereas the revenue from MEA thermal transfer label market is anticipated to increase at a CAGR of 4.9% over 2017-2022, to reach US$ 176.7 mn by 2022.
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., Multi-Color Corporation, and Coveris Holdings S.A. are some of the key players venturing in the global thermal transfer label market.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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