NEW YORK, Feb. 15, 2021 /PRNewswire/ -- Award winning market research company Fact.MR has published a detailed report on the global thermal transfer labels market. As per its findings, 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, pegging the value CAGR at 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 US$ 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 their ability to tolerate extremely high temperatures. Additionally, these labels offer enhanced waterproof qualities. Players such as Able Label are at the forefront, manufacturing 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, they are 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," remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR's Thermal Transfer Labels Study
- By material, paper-based thermal transfer labels to remain preferred, capturing over 25% revenue
- However, polyester labels are surging in popularity, accounting for approximately a third of the market share
- Demand across the semiconductors & electronics industry to remain strong, attributed to increased ownership of smartphones and other internet devices
- US to experience high revenue share, driven by increasing production of electronic devices
- High adoption in food packaging to provide tailwinds to the UK market through 2021
- Germany and France to experience stable growth, owing to a burgeoning tourism and hospitality industry, augmenting demand for food & beverages
- High expansion of the retail, electronics and e-commerce industries to spearhead growth across India and China
Competitive Landscape
Prominent 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 & acquisitions, mergers and partnerships characterize the aforementioned players' primary expansion strategies. For instance, 3M Company manufactures offers a broad spectrum of thermal transfer label material, with adhesive thickness ranging from 0.02 mm to 0.05 mm, formulated using acrylate, polyester, vinyl and polypropylene respectively.
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Sustainability lies at the core of several manufacturers. Constantia Flexibles Group, for instance, has been acknowledged as a global leader with respect to engaging with its suppliers on climate change, with the goal of reducing value chain emissions by mitigating greenhouse gas contribution to 24% by 2030 and 49% by 2050. Thus, they are incorporating eco-friendly material to manufacture thermal transfer labels.
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. 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.
Key questions covered in the report
- How will the thermal transfer labels grow through 2031?
- What drivers underpin the global thermal transfer labels market growth?
- Which is the most extensively used thermal transfer label material?
- Which end-use industry is expected to be the largest thermal transfer label material user?
- Why is US expected to capture a lucrative market share?
- Are the UK, French and German markets likely to generate attractive opportunities?
- Why are manufacturers increasing inroads across the Asia-Pacific markets?
- How is the competitive landscape of the thermal transfer labels shaping up?
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