Categories: Market Research

Thermal Transfer Label Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Thermal Transfer Label Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Thermal Transfer Label Global Market Report 2024, The thermal transfer label market size has grown strongly in recent years. It will grow from $2.91 billion in 2023 to $3.17 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to retail and logistics demands, manufacturing and inventory management, compliance labeling, e-commerce growth, product branding and promotion.

The thermal transfer label market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to global supply chain expansion, eco-friendly labeling solutions, pharmaceutical serialization, increased online retail, smart packaging trends. Major trends in the forecast period include customization and personalization, global supply chain challenges, integration with RFID technology, market consolidation, digital transformation.

Rapid growth in the e-commerce sector is significantly contributing to the growth of the thermal transfer label market. E-commerce refers to the buying and selling of products using the internet. It includes internet-based activities such as product purchasing and selling, as well as monetary transactions. With the rise of online shopping, there is a greater demand for a variety of labels and packaging. For instance, according to the India Brand Equity Foundation (IBEF), an India-based government agency, the e-commerce market is expected to increase from $46.2 billion in 2020 to $111.40 billion in 2025 and it is expected to reach $350 billion by 2030. Therefore, rapid growth in the e-commerce sector is driving the growth of the thermal transfer labels market.

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The thermal transfer label market covered in this report is segmented –

1) By Material: Paper, Polyester, Polypropylene (PP), Polyethylene (PE), Other Materials

2) By Printer Type: Desktop, Industrial, Mobile

3) By End User: Food and Beverages, Healthcare, Tracking, Logistics, and Transportation, Industrial Goods and Products, Semiconductor and Electronics, Retail Labels, Other End Users

Major players operating in the thermal interface materials market are focusing on developing new innovative products to expand their product portfolio, meet the requirements of various end-use industries, and maintain their position in the competitive business environment. Paper-based flexible film package printing refers to the process of printing on flexible packaging materials made primarily from paper substrates. For instance, In June 2023, Markem-Imaje, a Switzerland-based variable data and product identification equipment, launched a new SmartDate Xtra 3530 ribbon, a new grade of wax and resin thermal transfer ribbon for paper-based flexible film package printing. This ribbon was specifically designed to meet the increasing demand within the food and beverage, pharmaceutical, and other industries for paper-based flexible film package printing. The new SmartDate Xtra 3530 ribbon is engineered to print on paper-based substrates, including coated, uncoated, glossy, and rough papers. It addresses the growing challenge of manufacturers seeking an environmentally-friendly coding solution that can print durable and legible codes onto rough films.

The thermal transfer label market report table of contents includes: