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European Thermal Transfer Ribbon Market size to reach $980 Mn by 2028
Published Date: 2022-08-08
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European Thermal Transfer Ribbon Market size is estimated to cross USD 980 million by 2028, according to a latest forecast report by Graphical Research.
The increasing utilization of thermal printers for a wide variety of applications across several end-use industries, including healthcare, pharmaceutical, transportation, logistics, point of sale terminals for informative packaging requirements, and printing RFID and barcodes, will fuel the industry landscape.
Significant rise in government fund allocations to improve the healthcare infrastructure and introduce new tracking devices may drive the market demand.
In addition, the increasing production and exports of pharmaceutical and medicinal products will positively influence the regional industry outlook. For instance, in 2021, the EU exported a significant share of medicinal and pharmaceutical products to the US and Switzerland, while Germany emerged as one of the largest exporters of these products, with total exports amounting to more than USD 58 billion.
These scenarios, coupled with the flourishing transportation and logistics sector and rising internet penetration and digitization trends across the region.
The flat head printer segment will experience a significant growth till 2028, owing to their economical prices and their compatibility to work with all sorts of thermal transfer ribbons, be it resin, wax, or wax-resin ribbon. They are highly durable, versatile, require lesser maintenance than near-head printers, and are considered ideal for several printing applications like shipping labels, receipts, etc.
The European thermal transfer ribbon market from wax ribbon segment may gain significant momentum during the forecast timeline, attributed to their superior abrasion resistance, and exceptional print quality on rotated or normal barcodes on uncoated or coated papers. Wax ribbons are highly inexpensive and are considered the most economical thermal transfer ribbons. Their increasing utilization for a broad range of general-purpose printing and labeling applications like carton labeling, shipping labels, print and apply usage, retail labels, and tags makes them a preferred product over their counterparts.
The Europe thermal transfer ribbon market may gain significant impetus through the increased product application across industrial printers. These printers are known for their ruggedness and their capability to print at a high volume. Some of their top-notch models are further equipped with Bluetooth and IoT connectivity software for enabling easy control. They find application across industries requiring heavy load printing capacities like logistics and manufacturing.
Browse detailed statistical insights from the report, “Europe Thermal Transfer Ribbon Market Forecast 2028 By Print Head (Near edge, Flat type), By Application (Desktop printer, Mobile printer, Industrial printer), By Product (Resin Ribbon, Wax-Resin Ribbon, Wax Ribbon), By End-user (Manufacturing, Healthcare, Entertainment & hospitality, Logistics & Transportation, Retail, Others), 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 healthcare sector may record a CAGR of over 7% during the forecast period. A substantial rise in government healthcare expenditure and increasing pharmaceutical production across EU countries and the UK may boost the market adoption.
As per the latest Eurostat facts and figures, the general expenditure on health by the EU government held about 8% of the GDP, accounting for almost USD 1118 billion in 2020.
The growing utilization of thermal printers across healthcare facilities to print labels for several unique applications, including accessing medical records, tracking imaging equipment, labeling blood and milk bank inventory, etc.
Germany thermal transfer ribbon market will surpass USD 290 million by 2028, owing to sophisticated infrastructure, increasing exports, and freight cargo transportation activities. As per the Federal Ministry for Economic Affairs and Climate Action Germany, the country stands third among the world's largest exporting and importing economies.
On the other hand, it has been ranked #1 in logistics by the World Bank for the third time in a row, paving the way for future growth possibilities for the Europe TTR market.
The European 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:
Europe Market, By Print Head
- Near edge
- Flat type
Europe Market, By Product
- Resin Ribbon
- Wax-Resin Ribbon
- Wax Ribbon
Europe Market, By Application
- Desktop printer
- Mobile printer
- Industrial printer
Europe Market, By End-user
- Entertainment & hospitality
- Logistics & Transportation
The above information has been provided for the following countries:
- Rest of Europe