Thermal Transfer Labels Market to Rise with 5% CAGR through 2030, Notes Fact.MR
Strong growth in e-commerce and logistics has fueled demand for thermal transfer label rolls.
"The retail industry is key to the demand for thermal transfer labels, owing to applications in POS printers for transaction receipts in not only manned check-out procedures but also automated, self-check-out alternatives, which will aid market growth through and after the pandemic," says the FACT.MR report.
Thermal Transfer Labels Market- Key Takeaways
• Polyester is rapidly gaining traction as a thermal transfer label material owing to demand for chemical-resistant solutions.
• Electronics sector applications of thermal transfer labels is rapidly gaining ground owing to the high adoption rate of consumer electronics.
• Asia Pacific is a lucrative market for thermal transfer labels supported by the expansion of the e-commerce and retail sectors in the region.
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Thermal Transfer Labels Market- Driving Factors
• Widespread use of thermal transfer labels in the production of tickets, tags, receipts, and labels in multiple industry verticals is the key growth driver.
• The rising popularity of thermal spray coatings to minimize contamination risks is creating lucrative opportunities.
• Expansion of the global retail sector, and favorable government policies contribute to market growth.
Thermal Transfer Labels Market- Major Restraints
• Higher costs of supplies needed to operate thermal transfer printers holds back market growth.
• Strict regulations against the use of chemicals such as Bisphenol A hinder the application of thermal transfer labels in food packaging.
Xeikon, Honeywell International Inc., RICOH, Henkel AG & Co., Coveris Holdings S.A., CCL Industries Inc., WS Packaging Group, 3M Company, and LINTEC Corp. are leading thermal transfer label manufacturers.
COVID-19 Impact on Thermal Transfer Labels Market
The coronavirus outbreak is affecting the production and distribution of thermal transfer labels as governments impose nationwide lockdowns. In addition, suspension of production activities for non-essentials is also hurting operations in the industry. On the other hand, the extensive demand for thermal transfer labeling material in retail and electronics will help sustain demand throughout this crisis period.
PR Source- https://www.factmr.com/