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 observed in the historic period was primarily driven by various factors including increased demands in retail and logistics, utilization in manufacturing and inventory management processes, compliance labeling requirements, the burgeoning growth of e-commerce platforms, and the emphasis on product branding and promotional activities. These elements collectively contributed to the growth witnessed during that period.
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 projected growth in the forecast period is expected to be fueled by several factors such as the expansion of global supply chains, the adoption of eco-friendly labeling solutions, the implementation of pharmaceutical serialization requirements, the continued rise of online retail, and the evolution of smart packaging trends.
The burgeoning e-commerce industry significantly drives the expansion of the thermal transfer label market. Online commerce demands diverse labels and packaging options. Projections by the India Brand Equity Foundation anticipate the e-commerce market to grow from $46.2 billion in 2020 to $111.40 billion in 2025, aiming for a colossal $350 billion by 2030. This robust growth directly fuels the demand for thermal transfer labels.
The thermal transfer label market expects significant growth owing to heightened demand from the food and beverage industry. These labels offer durable, customizable solutions for product identification and compliance within this sector. Scotland witnessed a surge in food and beverage manufacturing companies, reaching 1,185 in 2023, while exports rose by 31% in 2022 to $10.18 billion (£8.1 billion), underlining the industry's influence on the thermal transfer label market.
Strategic collaborations emerge as a significant trend in the thermal transfer label market. Key companies are forging partnerships to bolster their market standing. Notably, Brother Mobile Solutions teamed up with TEKLYNX in January 2022, providing thermal barcode label printers compatible with TEKLYNX software solutions. Additionally, the partnership between Mark Andy and UPM Raflatac, established in September 2021, aims to furnish superior digital label printing solutions to flexographic and digital converters, strengthening their market positioning.
Dominant entities in the thermal interface materials sector focus on innovation to expand their product range, catering to diverse industry demands and maintaining market positions. An instance is Markem-Imaje's launch in June 2023 of the SmartDate Xtra 3530 ribbon, a specialized wax and resin thermal transfer ribbon designed for paper-based flexible film package printing. This ribbon addresses rising demands in the food, beverage, and pharmaceutical industries for environmentally-friendly coding solutions on various paper substrates, including coated, uncoated, glossy, and rough papers, meeting the challenge of printing durable and legible codes on rough films.
In July 2021, ARMOR Group, a France-based industrial manufacturing company, successfully acquired International Imaging Materials, Inc. (IIMAK), a US-based manufacturer specializing in consumables for printing, imaging, and marking. This undisclosed acquisition solidifies ARMOR Group's position as a global leader in thermal transfer ribbon design and production, particularly for printing variable traceability data on labels and flexible packaging.
Major companies operating in the thermal transfer label market report are Honeywell International Inc., 3M Company, Henkel AG & Co. KGaA, Illinois Tool Works Inc., Ricoh Company Ltd., DNP Corporation, Avery Dennison Corporation, SATO Holdings Corporation, Zebra Technologies Corporation, CCL Industries Inc., Constantia Flexibles Group GmbH, UPM Raflatac Oy, LINTEC Corporation, Multi-Color Corporation, Fuji Seal International Inc., Brady Corporation, WS Packaging Group Inc., Fort Dearborn Company, TSC Auto ID Technology Co. Ltd., Resource Label Group LLC, MPI Label Systems Inc., Consolidated Label Co., Label Technology Inc., Labeltronix, Pac Edge Labels Pvt. Ltd., Century Label, Advanced Labels NW, Coast Label Company, Coveris Holdings S.A., Inland Label and Marketing Services LLC.
North America was the largest region in the thermal transfer label market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermal transfer label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thermal transfer label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
In the realm of thermal transfer labels, printers come in three primary types such as desktop, industrial, and mobile. Desktop thermal transfer printers excel in long-term labeling needs enduring over six months or exposed to harsh conditions such as chemicals, light, high temperatures, or water. These labels utilize various materials such as paper, polyester, polypropylene (PP), polyethylene (PE), among others, catering to industries such as food and beverages, healthcare, tracking, logistics and transportation, industrial goods, semiconductors and electronics, retail labels, and other diverse end-user applications.
The thermal transfer label market research report is one of a series of new reports that provides thermal transfer label market statistics, including thermal transfer label industry global market size, regional shares, competitors with a thermal transfer label market share, detailed thermal transfer label market segments, market trends and opportunities, and any further data you may need to thrive in the thermal transfer label industry. This thermal transfer label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The thermal transfer label market consists of sales of thermal transfer labels and direct thermal labels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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 projected growth in the forecast period is expected to be fueled by several factors such as the expansion of global supply chains, the adoption of eco-friendly labeling solutions, the implementation of pharmaceutical serialization requirements, the continued rise of online retail, and the evolution of smart packaging trends.
The burgeoning e-commerce industry significantly drives the expansion of the thermal transfer label market. Online commerce demands diverse labels and packaging options. Projections by the India Brand Equity Foundation anticipate the e-commerce market to grow from $46.2 billion in 2020 to $111.40 billion in 2025, aiming for a colossal $350 billion by 2030. This robust growth directly fuels the demand for thermal transfer labels.
The thermal transfer label market expects significant growth owing to heightened demand from the food and beverage industry. These labels offer durable, customizable solutions for product identification and compliance within this sector. Scotland witnessed a surge in food and beverage manufacturing companies, reaching 1,185 in 2023, while exports rose by 31% in 2022 to $10.18 billion (£8.1 billion), underlining the industry's influence on the thermal transfer label market.
Strategic collaborations emerge as a significant trend in the thermal transfer label market. Key companies are forging partnerships to bolster their market standing. Notably, Brother Mobile Solutions teamed up with TEKLYNX in January 2022, providing thermal barcode label printers compatible with TEKLYNX software solutions. Additionally, the partnership between Mark Andy and UPM Raflatac, established in September 2021, aims to furnish superior digital label printing solutions to flexographic and digital converters, strengthening their market positioning.
Dominant entities in the thermal interface materials sector focus on innovation to expand their product range, catering to diverse industry demands and maintaining market positions. An instance is Markem-Imaje's launch in June 2023 of the SmartDate Xtra 3530 ribbon, a specialized wax and resin thermal transfer ribbon designed for paper-based flexible film package printing. This ribbon addresses rising demands in the food, beverage, and pharmaceutical industries for environmentally-friendly coding solutions on various paper substrates, including coated, uncoated, glossy, and rough papers, meeting the challenge of printing durable and legible codes on rough films.
In July 2021, ARMOR Group, a France-based industrial manufacturing company, successfully acquired International Imaging Materials, Inc. (IIMAK), a US-based manufacturer specializing in consumables for printing, imaging, and marking. This undisclosed acquisition solidifies ARMOR Group's position as a global leader in thermal transfer ribbon design and production, particularly for printing variable traceability data on labels and flexible packaging.
Major companies operating in the thermal transfer label market report are Honeywell International Inc., 3M Company, Henkel AG & Co. KGaA, Illinois Tool Works Inc., Ricoh Company Ltd., DNP Corporation, Avery Dennison Corporation, SATO Holdings Corporation, Zebra Technologies Corporation, CCL Industries Inc., Constantia Flexibles Group GmbH, UPM Raflatac Oy, LINTEC Corporation, Multi-Color Corporation, Fuji Seal International Inc., Brady Corporation, WS Packaging Group Inc., Fort Dearborn Company, TSC Auto ID Technology Co. Ltd., Resource Label Group LLC, MPI Label Systems Inc., Consolidated Label Co., Label Technology Inc., Labeltronix, Pac Edge Labels Pvt. Ltd., Century Label, Advanced Labels NW, Coast Label Company, Coveris Holdings S.A., Inland Label and Marketing Services LLC.
North America was the largest region in the thermal transfer label market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermal transfer label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thermal transfer label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
In the realm of thermal transfer labels, printers come in three primary types such as desktop, industrial, and mobile. Desktop thermal transfer printers excel in long-term labeling needs enduring over six months or exposed to harsh conditions such as chemicals, light, high temperatures, or water. These labels utilize various materials such as paper, polyester, polypropylene (PP), polyethylene (PE), among others, catering to industries such as food and beverages, healthcare, tracking, logistics and transportation, industrial goods, semiconductors and electronics, retail labels, and other diverse end-user applications.
The thermal transfer label market research report is one of a series of new reports that provides thermal transfer label market statistics, including thermal transfer label industry global market size, regional shares, competitors with a thermal transfer label market share, detailed thermal transfer label market segments, market trends and opportunities, and any further data you may need to thrive in the thermal transfer label industry. This thermal transfer label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The thermal transfer label market consists of sales of thermal transfer labels and direct thermal labels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Thermal Transfer Label Market Characteristics3. Thermal Transfer Label Market Trends and Strategies32. Global Thermal Transfer Label Market Competitive Benchmarking33. Global Thermal Transfer Label Market Competitive Dashboard34. Key Mergers and Acquisitions in the Thermal Transfer Label Market
4. Thermal Transfer Label Market - Macro Economic Scenario
5. Global Thermal Transfer Label Market Size and Growth
6. Thermal Transfer Label Market Segmentation
7. Thermal Transfer Label Market Regional and Country Analysis
8. Asia-Pacific Thermal Transfer Label Market
9. China Thermal Transfer Label Market
10. India Thermal Transfer Label Market
11. Japan Thermal Transfer Label Market
12. Australia Thermal Transfer Label Market
13. Indonesia Thermal Transfer Label Market
14. South Korea Thermal Transfer Label Market
15. Western Europe Thermal Transfer Label Market
16. UK Thermal Transfer Label Market
17. Germany Thermal Transfer Label Market
18. France Thermal Transfer Label Market
19. Italy Thermal Transfer Label Market
20. Spain Thermal Transfer Label Market
21. Eastern Europe Thermal Transfer Label Market
22. Russia Thermal Transfer Label Market
23. North America Thermal Transfer Label Market
24. USA Thermal Transfer Label Market
25. Canada Thermal Transfer Label Market
26. South America Thermal Transfer Label Market
27. Brazil Thermal Transfer Label Market
28. Middle East Thermal Transfer Label Market
29. Africa Thermal Transfer Label Market
30. Thermal Transfer Label Market Competitive Landscape and Company Profiles
31. Thermal Transfer Label Market Other Major and Innovative Companies
35. Thermal Transfer Label Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Thermal Transfer Label Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on thermal transfer label market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for thermal transfer label? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Honeywell International Inc.; 3M Company; Henkel AG & Co. KGaA; Illinois Tool Works Inc.; Ricoh Company Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Honeywell International Inc.
- 3M Company
- Henkel AG & Co. KGaA
- Illinois Tool Works Inc.
- Ricoh Company Ltd.
- DNP Corporation
- Avery Dennison Corporation
- SATO Holdings Corporation
- Zebra Technologies Corporation
- CCL Industries Inc.
- Constantia Flexibles Group GmbH
- UPM Raflatac Oy
- LINTEC Corporation
- Multi-Color Corporation
- Fuji Seal International Inc.
- Brady Corporation
- WS Packaging Group Inc.
- Fort Dearborn Company
- TSC Auto ID Technology Co. Ltd.
- Resource Label Group LLC
- MPI Label Systems Inc.
- Consolidated Label Co.
- Label Technology Inc.
- Labeltronix
- Pac Edge Labels Pvt. Ltd.
- Century Label
- Advanced Labels NW
- Coast Label Company
- Coveris Holdings S.A.
- Inland Label and Marketing Services LLC