APAC Thermal Transfer Ribbon Market size is poised to surpass USD 490 million by 2028, according to a latest forecast report by Graphical Research.
The growing demand for thermal printing technology across a variety of commercial, industrial, healthcare, retail, and portable applications is likely to drive the industry expansion.
These applications include information kiosks, filling station pumps, voucher printers in slot machines, point of sale systems, recording live rhythm strips on hospital cardiac monitors, and printing on-demand labels for products and shipping.
Another factor largely contributing to the development of the Asia Pacific market landscape is the substantial growth of the retail and eCommerce sector due to improving socio-economic conditions, increasing internet and smartphone penetration, and the ongoing digitization trends across countries like India and China.
As per the February 2022 report by IBEF, the Indian eCommerce market is expected to surpass USD 111 billion by 2024 and USD 200 billion by 2026. In addition, the rapid growth of the regional transportation and logistics industry will boost the market growth.
The wax ribbon market may account for a significant revenue share till 2028, owing to the product's capability to print at high speeds at the lowest cost and print clean dark barcodes and texts at low darkness settings. Wax ribbons are known for their versatility and crisp edge definition to print on a wide range of stocks like labels and tags, shipping labels, general labeling, print & apply applications, and carton labeling.
Besides their exceptional abrasion resistance, their ability to operate at lower heat settings and superior print quality on rotated and normal barcodes on coated and uncoated paper tags and labels will help them gain significant traction over the forecast period.
China thermal transfer ribbon industry will reach 900 kilo tons by 2028, credited to the positive outlook of the transportation and logistics space across the country. As per the 12th annual Agility Emerging Markets Logistics Index released in February 2021, China made its place among the world's top emerging logistics markets.
This would help the country evolve as the center of attraction for freight forwarders, air cargo carriers, logistic providers, shipping lines, distributors, and investors globally, creating new growth prospects for the China industry.
The industrial printer segment will grow at a CAGR of 8% over the projected timeframe. Industrial printers are used across several industrial environments and applications to create durable, long-lasting labels and cable markers.
Their efficient design and capability to offer advanced durability help them minimize downtime and expenses associated with production changeovers and ribbon replenishments. These include robust, mission-critical thermal label printers developed for heavy-duty processes or harsh environments and portable printers enabled with WIFI or Bluetooth connectivity.
Browse detailed statistical insights from the report, “Asia Pacific Thermal Transfer Ribbon Market Forecast 2028 By End-user (Manufacturing, Healthcare, Entertainment & hospitality, Logistics & Transportation, Retail, Others), By Print Head (Near edge, Flat type), By Application (Desktop printer, Mobile printer, Industrial printer), By Product (Resin Ribbon, Wax-Resin Ribbon, Wax Ribbon), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The near edge print head segment may record substantial gains through 2028, as this technology is very efficient and offers high speed throughput. Also called "floating head" print technology, near edge print head TTRs have heating elements that are located at the edge of the printhead, enabling faster speeds. They also help reduce ink wastage.
The retail sector is likely to drive lucrative gains between 2022 and 2028, driven by the increasing consumer purchasing power, rising FDI inflows, easy credit facilities by banks and other financial institutions, and the emergence of foreign retailers in the regional market. As per March 22 report by the Indian Brand Equity Foundation, the retail sector in India accounted for more than 10% of the country's GDP, making the country the fifth-largest destination in retail space worldwide.
The APAC thermal transfer ribbon market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028 for the following segments:
Asia Pacific Market, By Print Head
Asia Pacific Market, By Product
- Resin Ribbon
- Wax-Resin Ribbon
- Wax Ribbon
Asia Pacific Market, By Application
- Desktop printer
- Mobile printer
- Industrial printer
Asia Pacific Market, By End-user
- Entertainment & hospitality
- Logistics & Transportation
The above information has been provided for the following countries:
- Asia Pacific