Thermal Transfer Ribbons Market Size, Share and Industry Analysis Report by Product (Wax Ribbon, Wax Resin Ribbon, Resin Ribbon), Printing Head Type (Flat Type, Near Head), By Application (Mobile Printer, Desktop Printer, Industrial Printer) and End-user

Thermal Transfer Ribbons Market Size, Share and Industry Analysis Report by Product (Wax Ribbon, Wax Resin Ribbon, Resin Ribbon), Printing Head Type (Flat Type, Near Head), By Application (Mobile Printer, Desktop Printer, Industrial Printer) and End-user Industry (Entertainment & Hospitality, Healthcare, Manufacturing, Retail, Transport & Logistics), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global thermal transfer ribbons market trends would be clocking notable growth by 2030, propelled by an escalating demand for labeling across retail, healthcare, transportation, and other industries.

Thermal transfer ribbons offer umpteen benefits across these sectors such as guaranteeing high print speed for a fast turnaround time for labels, ability to withstand extreme conditions, highly durable label text, smudge resistance, and more.

The industry expansion is also likely to be bolstered by the robust presence of leading market players operating in the sector. The comprehensive growth strategies undertaken by these players to fortify their standing in the market would shape industry outlook.

In July 2020, Armor, a French thermal transfer specialist, announced a partnership deal with Mactac, a leading manufacturer of pressure-sensitive adhesives, for the development and launch of thinner, more sustainable thermal transfer ribbons. In the same year, Armor also unveiled a new line of APR1 wax-resin ribbon. The launch of APR1 is anticipated to propagate approximately 12% plastic waste reduction.

Such technological advancements in the field would majorly push the market progression in the years to come.

Overall, the thermal transfer ribbons industry is classified by product, print head, application, end-user, and regional landscape.

In terms of the end-user segmentation, the market is divided into the segments of entertainment and hospitality, manufacturing, transportation and logistics, retail, healthcare, and others.

Out of these, the entertainment and hospitality sector is expected to foster notable growth in the industry, registering a growth rate of 8% through the forecast timeframe.

The overall market share from the retail segment would expand at a CAGR of 7.7% through the analysis timeline. This can be reasoned to the rising penetration of online shopping and e-commerce sector into retail.

Meanwhile, the others segment is touted to account for a 4%business share of the global thermal transfer ribbons industry by the end of the forthcoming years.

Geographically, the Latin America thermal transfer ribbons market would earmark a profitable growth trajectory in the ensuing years. As per industry analysis, the regional market is set to depict a CAGR of 7.2% through the projected duration, driven by the ongoing expansion of the region’s retail sector. An upsurge in the retail sector in the continent is an outcome of the rising disposable incomes and elevating industrial activities.

Middle East and Africa would emerge as lucrative growth hub for the thermal transfer ribbons industry over the analysis timeframe. This can be credited to the thriving manufacturing sector in the continent. The report suggests that the MEA thermal transfer ribbons market would record a CAGR of 5.8% over 2022-2030.