A recent commerce and business study by Transparency Market Research (TMR) suggests that the global thermal transfer label market is in good health. And although the competitive landscape is intense owing to the presence several vendors, there are vast opportunities for innovation in product application and geographical expansion. These factors will keep luring new entrants while feeding the existing ones. The study projects the demand in the global thermal transfer label market to increment at a CAGR of 5.5% during the forecast period of 2017 to 2022. By the end of 2022, the report estimates the worth of global thermal transfer label market to be US$3,003.3 mn, substantially up from its evaluated valuation of US$2,296.6 mn in 2017.
The TMR report identifies Honeywell International Inc., CCL Industries Inc., Henkel AG & Co. KGaA, 3M Company, LINTEC Corporation, Constantia Flexibles Group GmbH, Inland Label and Marketing Services LLC, Coveris Holdings S.A., WS Packaging Group, Inc., and Multi-Color Corporation as some the most prominent companies currently operating in the global thermal transfer label market. The report provides global thermal transfer label market dynamics, cost structure analysis, per capita label consumption, multisensory packaging and impact on stretch and shrink label, new opportunity pockets, strategic focus of the leading players, and market segmentations on the basis of material, printer type, application, and geography. For each of the segments, the report contains revenue comparison by region, market share, and year-to-year growth comparison.
Based on material, the global thermal transfer label market gains maximum demand for paper segment, which is estimated to be worth US$1,209.3 mn by 2022 or account for 40.3% of the overall demand. The paper segment of the thermal transfer label market is expanding at a CAGR of 7.5% during the forecast period of 2017 to 2022. Geographically, the TMR report picks out Asia Pacific except Japan (APEJ) as the most lucrative region, which is projected to increase the demand at an above-average CAGR of 6.9% during the said forecast period.
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Ease of Product Tracking in Diverse Environments Driving Uptake
The global thermal transfer label market is driven by its extensive usage in tags, labels, receipts, and tickets. The prosperity of various application industries such as food and beverage, healthcare, industrial goods and products, tracking, logistics, and transportation, retail, and semiconductor and electronics is also reflecting positively on the global thermal transfer label market. In the packaged food and pharmaceutical industries, the importance of labeling is increasing as it complies with regulatory measures to maintain the quality of the products. Currently, manufacturing provides the maximum demand for barcode printers, using it for streamlining the processing and tracking of one shipment. On the other hand, the healthcare sector is incrementing the demand too, wherein thermal transfer labels are used to print tags for patient ID systems, which increases accessibility of information to the patients and reduces medical errors. In addition to that, the growing popularity of thermal spray coating in environments that are prone to moisture and other contamination is expected to open new opportunities for the vendors operating in the global thermal transfer label market. Rising number of retail outlets in vastly populated emerging economies such as China and India and supportive policies by various governments are two other factors reflecting positively on the global thermal transfer label market.
Regulatory against Usage of Bisphenol A Obstructing Market’s Prosperity
Strict regulations are imparted on the use of bisphenol A is strongly challenging the true potential of the thermal transfer label market in the food and beverage industry. Nevertheless, the late but eventual penetration of e-commerce in the developing countries is expected to open new opportunities for the vendors of this market.