Market research company Fact.MR published a detailed report on the global thermal transfer labels market, finding that the market is poised to experience positive growth in 2021 over 2020, amid resuming production and manufacturing activities in the post pandemic scenario. The report projects a steady growth forecast for the forthcoming decade, with a CAGR of 5%.
Over the years, increasing virtual business transactions have widened global e-commerce platforms, prompting manufacturers to design robust and highly durable packaging solutions. As of 2020, global e-commerce reached $25.6 trillion, according to the UN Conference on Trade and Development. Likewise, prolific advancements in consumer electronics and food & beverages industries have heightened thermal transfer labels expansion prospects.
Manufacturers are exhibiting a high tilt towards polyester derived thermal transfer labels, owing to its ability to tolerate extremely high temperatures. Additionally, these labels offer enhanced waterproof qualities. Key player Able Label manufactures the Glossy White (TC-0), Matte Silver (TC-SIL) and Flood Color w/Overlam (TC-OL) variants for use in product and property identification, durable goods labelling, barcode applications and electronic components manufacturing. Additionally, it is also used for manufacturing work-in-progress labels. Likewise, Hellermann Tyton manufactures polyester thermal transfer labels measuring 0.25'' x 0.25'' and 12 across.
"The global thermal transfer labels market is characterized by the presence of both prominent international level as well as regional manufacturers, rendering the landscape highly competitive. Hence, leading players are forging effective distribution networks to better penetrate key geographical locations," says a Fact.MR analyst.
Key Takeaways from Fact.MR's Thermal Transfer Labels Study
- By material, paper-based thermal transfer labels to remain preferred, capturing over 25% revenue
- Polyester labels are surging in popularity, accounting for approximately a third of the market share
- Demand across the semiconductors and electronics industry remains strong, attributed to increased ownership of smartphones and other internet devices
- The U.S. projected to experience high revenue share, driven by increasing production of electronic devices
- High adoption in food packaging to provide momentum to the UK market through 2021
- Germany and France expected to experience stable growth, owing to a burgeoning tourism and hospitality industry, augmenting demand for food and beverages
- High expansion of the retail, electronics and e-commerce industries to spearhead growth across India and China
Key players operating in the global thermal transfer labels market are Honeywell International Inc., Henkel AG & Co KGaA, CCL Industries Inc., 3M Company, Constantia Flexibles Group GmbH, LINTEC Corporation, Inland Label & Marketing Services LLC, WS Packaging Group Inc., Coveris Holdings SA, RICOH and Xeikon, among others. Product innovation, strategic collaborations and acquisitions, mergers and partnerships characterize the aforementioned companie's primary expansion strategies.
Visit www.factmr.com/report/4762/thermal-transfer-label-market to view the report.