Thermal Transfer Labels Market: Introduction
Transparency Market Research delivers key insights for the thermal transfer labels market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019–2025. In terms of revenue, the global thermal transfer labels market is projected to register a CAGR of 5.5% during the forecast period.
Ease of Product Tracking in Diverse Environments Boosting Use of Thermal Transfer Labels
The global thermal transfer labels market is driven by its extensive usage in tags, labels, receipts, and tickets. Growth of various end-use industries such as food and beverage, industrial goods, healthcare and products, tracking, logistics, and transportation, retail, and semiconductor and electronics offer a positive outlook for the global thermal transfer labels market. Currently, manufacturing accounts for the maximum demand for barcode printers, as this industry uses these printers for streamlining the processing and tracking of shipments.
Demand from the healthcare sector is increasing, attributable to the use of thermal transfer labels to print tags for patient ID systems, which increases accessibility of information to patients and reduces medical errors. The growing popularity of thermal spray coating in environments that are prone to moisture and other contamination is expected to open new opportunities for vendors operating in the global thermal transfer labels market. Rising number of retail outlets in vastly populated emerging economies such as China and India, and supportive policies by various governments are other factors that are expected to contribute to the growth of the market.
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Manufacturers in Thermal Transfer Market to Target Developing Economies of Asia
Thermal transfer labels companies need to target their customer base in emerging economies such as India & China, which have highly growing retail markets. India and China are expected to be attractive targets for thermal transfer labels manufacturers. The retail market in India has been experiencing healthy growth over the last decade, which creates opportunities for thermal transfer labels manufacturers to penetrate into this emerging market.
Moreover, labor costs in China and India are less as compared to the developed countries of Europe, which compel manufacturers to set new plans for manufacturing units of thermal transfer labels. Increasing demand for logistics goods in these countries also creates significant opportunities for manufacturers. Moreover, rising focus on reducing food wastage and massive evolution in the pharmaceuticals industry creates major opportunities for multinational companies that aim to increase their penetration in the global thermal transfer labels market during the forecast period.
Regulations against Usage of Bisphenol Obstructing Growth of Thermal Transfer Labels Market
Stringent regulations are imposed on the use of BPA (bisphenol A), which are strongly challenging the true potential of the thermal transfer labels market in the food and beverage industry. Nevertheless, the late but eventual penetration of e-Commerce in the developing countries is expected to open new avenues for vendors in the thermal transfer labels market during the forecast period.