Newark, June 19, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.9 billion thermal transfer ribbon market will reach USD 5.7 billion by 2033. The thermal transfer ribbon is essential to the thermal transfer printing process. This process is widely used for printing barcodes, labels, and other items without using direct ink application. Thermal transfer ribbons are widely used by manufacturing, shipping, healthcare (for patient IDs and sample labelling), retail (for price tags and barcode labels), and other industries. These transfer ribbons are made by applying wax, resin, or a mixture to a polyester sheet. The printing process produces long-lasting results by resisting environmental elements like moisture, oil, and UV light. Due to the increased demand for strong and high-quality labels, particularly in e-commerce and the medical field, the market for thermal transfer ribbons is developing. To meet different application needs, the market offers a variety of ribbons, ranging from basic labelling to robust, environment-resistant labels, including wax, resin, and wax-resin combinations.
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Key Insights on Thermal Transfer Ribbon Market
North America will account for the largest market size during the forecast period.
North America is expected to account for the largest market size during the forecast period. Continuous research and development initiatives in thermal transfer ribbons ensure adherence to evolving printing technology and industry-specific requirements. The region's increased emphasis on sustainability has impacted the thermal ribbon transfer industry, which has led producers to develop eco-friendly ribbon solutions and support recycling programs.
The wax ribbons segment dominated the market with the most significant revenue of USD 1.21 billion.
The wax ribbons segment dominated the market with the most significant revenue of USD 1.21 billion. Wax ribbon is the most popular type and is mainly composed of wax. They aim to provide the best print quality at the lowest feasible cost. Organisations frequently choose wax ribbons because of their wide range of applications and flexibility in various common labelling tasks, especially when printing large quantities of labels.
The near head segment dominated the market with the most significant revenue of USD 1.68 billion.
The near-head segment dominated the market, with the most significant revenue of USD 1.68 billion. Near-head printers ensure that print quality and speed are precisely balanced. They offer great versatility and a wide variety of dense media for printing because they don't require manual substrate thickness configuration. Near-head printers will propel category income for years because they may minimise ribbon usage by up to 85%, making them more affordable.
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Market Dynamics:
Drivers: Rising e-commerce activities
One of the main reasons is the extraordinary growth of e-commerce worldwide. As an increasing number of consumers made purchases online, companies faced challenges in optimising their supply chains and logistics. Thermal transfer was important because technology allowed the printing of long-lasting labels, enhancing tracking and control. The massive e-commerce businesses that have invested in state-of-the-art labelling technologies are excellent illustrations of the growing demand for heat transfer tape.
Restraint: Environmental problems and sustainability
Environmental concerns were barriers to the market for thermally conductive ribbons. Growing environmental awareness and regulatory pressure to reduce waste have forced companies to look into eco-friendly labelling solutions. This makes it unlawful for traditional pallet manufacturers to employ materials incompatible with eco-friendly production processes. Businesses were forced to look for and invest in ecologically friendly alternatives, which impacted already-existing items.
Some of the major players operating in the thermal transfer ribbon market are:
● ITW Thermal Films
● Hangzhou Todaytec Digital Co., Ltd.
● The Ricoh Company Ltd.
● TSC Auto ID Technology Co., Ltd.
● Inkstar
● Dai Nippon Printing Co.
● Analysis Armor Group
● Zebra Technologies Corp.
● Honeywell International Inc.
● International Imaging Material, Inc.
Key Segments covered in the market:
By Type:
● Resin Ribbons
● Wax/Resin Ribbons
● Wax Ribbons
By Head Type:
● Near Head
● Flat Head
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About the report:
The global thermal transfer ribbon market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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