Due to the need for online shopping during the pandemic and the rapid increase in demand for transportation and logistics services, the global thermal transfer ribbon market is expected to grow at a significant compound annual growth rate during the forecast period. These ribbons are made of polyester film coated with multiple layers.
In this process, the coating material is printed on paper using thermal transfer. This process ensures minimal thermal damage to surfaces that are highly susceptible to heat damage, while improving the durability of the printed content. The following six major trends are responsible for the continuous expansion of the global thermal transfer ribbon industry forecast:
Various types of ribbons are used in a range of applications. For example, for universal printing, an economical solution is needed. For this reason, as the demand for economical printing solutions continues to rise, wax ribbons are widely used. In 2020, compared with other ribbon types, this sector has the highest revenue share.
The high abrasion resistance, excellent print quality and cost-effectiveness of wax ribbons are some of the main advantages that drive the European thermal transfer ribbon market to predict the demand for these products. In addition, the wax ribbon contains a high wax ratio, which enables higher printing speeds at lower heat settings. These ribbons are used for printing general labels, shipping labels, hang tags, carton labels, and printing and application applications.
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By 2027, the industrial printer segment of the European market will gain a higher market share, thanks to the increasing use of these thermal ribbons in harsh industrial environments. With the high-speed industrialization of Industry 4.0 prospects, the demand for these products has been promoted. Industrial printers are designed to print durable labels and labels in a variety of industrial applications.
These printers can not only reduce costs, but also reduce downtime for production and ribbon replenishment. Many manufacturers have been focusing on developing user-friendly and cost-sensitive designs and software to meet the needs of improving print quality and more convenient equipment transportation. It is expected that this will create significant opportunities for progress in the industry’s prospects.
The logistics and transportation sector is one of the most prominent end-use industries in the North American thermal transfer ribbon market share. In 2020, the industry share of this market segment is estimated to account for more than 30.5% of the total market revenue, and it will certainly show an upward curve by 2027. The increase in deployment can be attributed to the growing demand for barcodes and RFID for these ribbons.
The World Bank’s Logistics Performance Index shows that the United States is one of the most important logistics industries in the world. The continuous upgrading of transportation and logistics technology is helping the industry to keep up with the high customer demand predicted by the North American thermal transfer ribbon industry. Since the outbreak of the epidemic, the retail industry has gained considerable momentum in the region, and well-coordinated and unimpeded logistics services are one of the prerequisites for the retail industry.
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The mobile printer segment of the North American thermal transfer ribbon market is expected to grow at a compound annual growth rate of 8.5% during the forecast period. The advanced technology integrated with these printers is improving their ease of use and promoting their adoption. Therefore, these printers can provide high-quality labels and labels.
By 2027, due to the widespread use of these ribbons in information packaging, the scale of the North American thermal transfer ribbon industry will be greatly expanded. The healthcare, hospitality, entertainment, manufacturing and retail industries have been accelerating industry progress.
In terms of printer head types, it is estimated that by 2027, the Asia Pacific thermal transfer ribbon market is predicted to benefit from flat-head printers. The lower cost and higher flexibility of these types of printers have promoted their adoption.
Most importantly, these printers can be used to produce wax thermal ribbon, resin thermal ribbon and wax resin thermal ribbon. The widespread application of these printers has promoted their use in the Asia-Pacific market prospects.
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The logistics industry of Asian countries is a promising stage for expanding market share in the future. This is because manufacturing facilities and production units in the region are seeking to expand their production to meet the needs of an expanding customer base. The booming e-commerce industry and prosperous trade in the Asia-Pacific region have created considerable demand for thermal transfer ribbons.
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Post time: Jul-22-2021