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Asia Pacific Thermal Transfer Ribbon Market Size By End-user (Entertainment & hospitality, Healthcare, Manufacturing, Retail, Logistics & Transportation), By Application (Industrial Printer, Desktop Printer, Mobile Printer), By Product (Wax-resin Ribbon, Resin Ribbon, Wax Ribbon), By Print head (Flat type, Near edge), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027
Published Date: March 2021 | Publisher: Graphical Research Report ID: GR1726 | Delivery : PDF  Request Free Sample

Asia Pacific Thermal Transfer Ribbon Market size valued at USD 149.4 million in 2020 and is estimated to exhibit a CAGR of 8.9% from 2021 to 2027. The exponentially growing regional logistics & transportation industry will fuel the consumption of thermal transfer ribbons.

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Thermal transfer ribbons are produced by applying different layers to a polymer film. These ribbons are used for thermal printing applications to produce color images by adhering a wax-based ink on paper. The mechanism involves the passing of the ribbon and paper in unison beneath the thermal head of the printer. The tax-based ink from the ribbon is transferred onto the paper and adheres permanently upon cooling down.

Thermal printing finds a broad range of applications in industries like logistics & transportation, retail, healthcare, etc. The industrial application of thermal printers includes barcode labels, marking cloth labels, such as garment size, etc. These barcode printers usually are available in sizes ranging between 4 to 8 inches wide. Although barcode printers of different sizes were manufactured in the past, most of the manufacturers have now standardized the size range. The standardization exists in the wake of the main applications of these printers for barcode labels for shipping and product identification.

On the other hand, the restricted mobility and halted trade operations in a measure to contain the COVID-19 disease severely hindered the market growth in 2020, especially in the initial months of the year. The APAC thermal transfer ribbon market witnessed a downfall of over 6% within the same year. Though, the market is anticipated to achieve a dynamic recovery in 2021 and will reflect strong growth in the following years.

APAC Market, By Product

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The wax ribbon segment accounted for 56.1% market share in 2020. Good print quality, abrasion resistance, and affordability are some of the factors fueling the product demand. As wax ribbons contain a high wax ratio, their manufacturing design of wax ribbons allows users to gain high printing speed at lower thermal settings. These aspects allow the wax ribbon to find applications in tags & labels, carbon labeling, print & apply applications, general labeling, and shipping labels. Favorable characteristics of the product and promising application sectors will bolster product consumption.

APAC Market, By Print head

Based on printer head type, the flat type will be the fastest-growing segment in the Asia pacific thermal transfer ribbon market during the forecast timeline. The usage flexibility and cost-effectiveness are some of the factors driving the market size. Flat head type printers can be used for wax ribbons, resin ribbons, or even wax-resin ribbons for printing applications. The ease of usability makes the flat type a preferable product for most consumers.

Flat print head technology was more preferred by end-use industries for various applications on account of the factor that it can be used for a broader range of ribbons at economical costs. On one hand, the unique design of a near-edge print head printer limits its applicability to few ribbon tyes, whereas on the other hand, a flat type print head printer can be used with either wax ribbon, resin ribbon, or wax-resin ribbon for printing applications.

APAC Market, By Application

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Based on application, the industrial printer segment revenue was more than 73.7 million in 2020. Industrial printers are a viable solution for printing labels that needs to endure harsh environmental conditions. These printers are efficient in design and provide extended durability to tags & labels making them feasible to be used for a comprehensive range of industrial applications. Their design helps in reducing the cost and downtime associated with ribbon replenishment and production changeovers. Additionally, the introduction of modern printer designs and further improving operational costs will have a positive influence on the product demand.

APAC Market, By End-user

Based on end-users, the transportation & logistics segment is set to witness over 9.1% CAGR between 2021 and 2027. The Asia Pacific has witnessed exponential growth in the logistics sector in recent years and the gaining popularity of e-commerce is certain to further fuel the industry growth. Additionally, the fast innovation and technological integration in the logistics process will offer new growth prospects. For instance, many players are implementing industry-driving tracking technology to efficiently track the freight and anticipate delivery timings along the way.

Competitive Industry Landscape

Some of the key manufacturers of the thermal transfer ribbon operating in the Asia Pacific include ARMOR, Hangzhou coditeck Digital Co., Ltd., Shenzhen ASTA Co., Ltd., Rachna Overseas Pvt. Ltd., SKH Lables & Machinery, Dai Nippon Printing Co., Ltd., Union Chemicar Co., Ltd., Fuji Kagakushi Kogyo Co., Ltd., Austab Labels, and International Imaging Materials, Inc.
 

Frequently Asked Question(FAQ) :

The industry for thermal transfer ribbon in Asia Pacific reached USD 149.4 million in 2020 and it will record a CAGR of 8.9% through 2027.
In 2020, the industrial printer application segment was estimated to be over USD 73.7 million and will expand due to the demand from robust printing label applications.
Wax ribbons dominated the Asia Pacific industry with over 56.1% revenue share in 2020 and will exhibit similar trends owing to benefits such as affordability, good print quality, and abrasion resistance.
The market for thermal transfer ribbon in Asia Pacific from transportation and logistics sector will grow at a 9.1% CAGR up to 2027 with growing popularity of ecommerce.

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