Home > Polymers & Advanced Materials > Thermal Transfer Ribbon Market

Thermal Transfer Ribbon Market Size, By Product (Wax Ribbon, Wax Resin Ribbon, Resin Ribbon), By Printing Head Type (Flat Type, Near Head), By Application (Mobile Printer, Desktop Printer, Industrial Printer), By End-user Industry (Entertainment & Hospitality, Healthcare, Manufacturing, Retail, Transport & Logistics), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI4915
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Overview

Thermal Transfer Ribbon Market size value exceeded USD 2 billion in 2022 and is projected to expand at over 7.5% CAGR from 2023 to 2032. Proliferating retail sector to augment industry revenues through 2032.
 

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Rapid proliferation of the retail sector across developed regions such as North America due to consistent population growth and the accelerating pace of urbanization may propel the demand for thermal transfer ribbons over the forecast period. The robust economic landscape in economies such as the U.S. and Canada has significantly transformed consumers' buying behavior, creating new growth prospects for the retail industry.
 

For instance, according to estimations by the U.S. Census Bureau, the total retail sales in the country stood at USD 1,778,625 million in Q2, 2022, adjusted for seasonal variation, not for price change. However, the availability of more affordable and durable alternative printing technologies and stringent printing regulations across several economies is anticipated to impede business growth. The accelerating product demand across the packaging sector may offer an anticipated boost to the thermal transfer ribbon industry.
 

Exceptional product characteristics to propel the sales of wax ribbons

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With respect to the product spectrum, thermal transfer ribbon market from wax ribbon segment size was worth more than USD 550 million in 2022 and is speculated to depict over 8.5% CAGR between 2023 and 2032. Wax thermal ribbons are ideal for short-term use and general-purpose printing. They ensure print speed of up to 12 ips depending on ribbon combination and label. The utilization of these ribbons offers exemplary ink blackness, even on rough label materials, along with stronger print durability, boosting their adoption through 2032.
 

Enhanced flexibility and better print quality to boost the adoption of near-head printers

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Based on the print head, the near-edge segment is poised to garner revenues worth over USD 1.5 billion by 2032. Printers that make use of near-edge technology guarantee an excellent balance between print quality and high print speed. These offer increased flexibility and can print on a broad range of media thicknesses as they do not require any manual setup for substrate thickness. Near-head printers save up to 85% ribbon usage, making them increasingly cost-effecting, thus bolstering segment revenues over the coming years.
 

Increasing infrastructure development to push the demand for mobile printers

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Thermal transfer ribbon market size from mobile printer applications amassed a valuation of more than USD 400 million in 2022 and is projected to showcase over 8% CAGR through 2032. Mobile printers are extensively utilized across warehouses, manufacturing facilities, and the entertainment industry for printing replacement tags, shelf edge labels, return labels, etc. Several benefits, such as convenient handling, cost-effectiveness, and faster shipping and packaging process, associated with mobile printers will positively influence the industry landscape.
 

Rising demand for label printing to increase product penetration in the transportation and logistics sector

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With regard to end use, thermal transfer ribbon market from transportation and logistics segment value is expected to cross USD 800 million by 2032. The transportation of several products involves various harsh conditions, which makes abrasive resistance labeling of utmost significance across these environments. The increasing demand for printing logistic labels and transport markings to ensure productive and quick operations will foster product adoption across the transportation and logistics sectors.
 

Robust technological landscape to push product demand across North America

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North America thermal transfer ribbon market surpassed a valuation of USD 1 billion in 2022 and is expected to record above 8.5% CAGR through 2032. The robust manufacturing sector fueled by the increasing R&D practices and ongoing technological advancements across countries, such as the U.S., will accelerate business statistics in the region. In addition, the proliferation of thermal transfer ribbon manufacturing industries and a developed thermal printing infrastructure will further create ample growth opportunities for the regional market.
 

Novel innovations to stimulate the competitive landscape

Major companies in the thermal transfer ribbon market are Dai Nippon Printing Co., Ltd., ITW Thermal Films, Analysis Armor Group, Hangzhou Todaytec Digital Co., Ltd, Zebra Technologies Corp, The Ricoh Company, Ltd., Honeywell International Inc., General Co., Ltd., TSC Auto ID Technology Co., Ltd, International Imaging Material, Inc, and Inkstar among others.
 

These enterprises have been consistently focusing on improving their product offerings to expand their existing consumer base and target market. For instance, in May 2021, Markem-Imaje introduced a novel SmartDate Xtreme Plus printhead suited for high-resin & high-speed applications. The latest printhead comes with 40 kilometers or a six-month warranty, allowing users over 60% more trouble-free coding than any other proximate options.
 

Impact of COVID-19 on thermal transfer ribbon market outlook

The COVID-19 pandemic had a mixed impact on the global market. The unprecedented closure of several end-use industries, such as the transportation and manufacturing sector, due to nationwide lockdowns and strict movement restrictions hampered the market revenues. On the other hand, the dramatic rise in the demand for food & beverages and other household supplies caused a boom across the retail, e-commerce, and logistics sectors. Now that the COVID restrictions have nearly been waived off across several economies, the industry is set to witness noticeable growth in the coming years.
 

The thermal transfer ribbon market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Meter and revenue in USD Million from 2018 to 2032 for the following segments:

By Product

  • Wax Ribbon
  • Wax -Resin Ribbon
  • Resin Ribbon

By Print Head

  • Flat type
  • Near edge

By Application

  • Mobile printer
  • Desktop printer
  • Industrial printer

By End-Use

  • Entertainment & hospitality
  • Healthcare
  • Manufacturing
  • Retail
  • Transportation & Logistics
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    •  UK
    •  Germany
    • France
    •  Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
       
Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for thermal transfer ribbon crossed a valuation of USD 2 billion in 2022 and is anticipated to depict more than 7.5% CAGR from 2023 to 2032 owing to the rapidly expanding retail sector and a positive economic outlook across developed economies.
The wax ribbon segment is expected to expand at over 8.5% growth rate between 2023 and 2032 driven by their growing usage in general-purpose printing applications.
The near-edge segment is projected to amass over USD 1.5 billion by 2032 due to the remarkable attributes of near-edge printers such as increased affordability, high print speed, and better print quality.
North America thermal transfer ribbon industry size is predicted to expand at over 8.5% CAGR through 2032 due to the robust technological landscape and flourishing manufacturing sector in the region.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 11
  • Tables & Figures: 303
  • Countries covered: 20
  • Pages: 235
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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