The global thermal transfer labels market is expected to grow at a steady 5% CAGR during the period of assessment between 2020 and 2030. As per the Fact.MR report, the coronavirus outbreak has temporarily disrupted supply chains and production activities owing to the imposition of lockdown rules. Applications in electronics and food packaging will help sustain demand through the crisis period.

"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.
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.

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Competitive Landscape

Thermal transfer labels market players remain focused on product launches and innovation. For instance, Zebra has launched its next-gen, budget thermal transfer desktop printers. 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.

About the Report

This study offers readers a comprehensive market forecast of the thermal transfer labels market. Global, regional and country-level analysis of the top industry trends impacting the thermal transfer labels market is covered in this FACT.MR study. The report offers insights on the thermal transfer labels market on the basis of material (paper, polyester, polypropylene, polyethylene, and others), product type (1" core roll labels, and 3" core roll labels), and end use industry (food & beverages, healthcare, tracking, logistics, and transportation, industrial goods & products, semiconductors & electronics, retail labels, and others), across six regions (North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and Middle East & Africa).

Press Release: https://www.factmr.com/media-release/1532/global-thermal-transfer-label-market