Europe Thermal Transfer Ribbon Market size surpassed USD 590 million in 2021 and is expected to expand at 7% CAGR between 2022 and 2028. The increasing demand for thermal transfer ribbons across several end-use verticals employing thermal printers in their day-to-day operations may foster the market growth. These applications may include retail, manufacturing & industrial, transportation & logistics, and healthcare & hospitality.
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The considerable growth in cross-border trade and rising imports and exports across the region has substantially pushed the demand for transportation and shipping. The latest Eurostat facts and figures reveal that goods exchanged between the EU and worldwide in 2020 contributed almost 46% in value and around 81% in volume to sea transport in the EU.
In addition, an appreciable growth of the regional eCommerce industry owing to the changing buying behavior, strong economic growth, and increasing utilization of online services has led to the proliferation of the logistic sector in Europe. Besides, the prolific growth of the healthcare and retail market across major European economies may further strengthen the industry outlook.
Europe Market, By Product
The resin ribbon segment will register remarkable growth till 2028, driven by their exceptional durability to withstand extreme environments that demand resistance against harsh solvents, high temperatures, moisture, UV applications, and abrasion. Their increased utilization for several printing and labeling applications, including synthetic labels, super high gloss labels, outdoor labels, hazardous drum labels, etc.
Europe Market, By Application
The Europe thermal transfer ribbon market from mobile printer segment will showcase around 6.8% growth rate during the forecast timeframe. These are handheld devices that are meant to be wireless and portable. They can print a variety of receipts and labels on the go and are equipped with easy-to-install software. Mobile printers are durable, waterproof, and temperature resistant and are often considered viable for warehouses and rough field environments.
Europe Market, By Print Head
The near edge print head segment will gain an outstanding momentum through 2028, owing to their capability to increase efficiencies and throughput to enable faster printing speeds. They are slightly costlier than flathead, but the printing technique is worthwhile to thermal printing technology.
Near edge printing demands a typical ribbon variety to print. The material of the ribbon is limited to resin and wax-resin. Apart from black, these printers can also accommodate colored ribbons like white, red, and green, which makes them a preferred product over flathead.
Europe Market, By Country
An appreciable growth of the imports and exports across economies like Germany and France will positively influence the Europe market landscape. France is expected to become a major contributor to the industry growth due to the positive outlook of the regional healthcare and eCommerce industries.
Competitive Industry Landscape
Prominent participants operating across the market include ARMOR SAS, LEONHARD KURZ Stiftung & Co. KG, Cavalier Labels Ltd., Tanto UK Ltd., CALOR GmbH, DNP Imagingcomm Europe Corporation, Todaytec UK Ltd, ALTech UK Labelling Technologies Ltd., EURO Srl, International Imaging Materials, Inc., Ricoh Industrie France SAS, Union Chemicar UK Ltd., and Advanced Labelling Systems Ltd.