North American Thermal Transfer Ribbon Market size is poised to cross USD 689 million by 2027, according to a latest forecast report by Graphical Research. The market growth is driven by robust demand from end-use sectors for tags and label applications.
The extensive use of thermal transfer ribbon by several industries for informative packaging is a major driving factor for the market. These ribbons are commonly used for RFID codes and bar codes in industries, such as entertainment & hospitality, healthcare, manufacturing, retail, logistics & transportation, and others. The retail and logistics sectors collectively are the largest end-use industries substantially contributing to the overall market size.
The logistics & transportation sector dominated more than 30% of the market share in 2020, accounting for the largest end-user of thermal transfer ribbon. The phenomenal growth of the logistics and transportation sector in the U.S. is the major factor driving the thermal transfer ribbon market size. The firms in the sector are providing a tailored solution to ensure the coordinated logistics services. Additionally, based on Logistics Performance Index, U.S. is one of the leading logistics markets.
Browse detailed statistical insights from the report, “North America Thermal Transfer Ribbon Market Size, By Print Head (Near edge, Flat type), By Product (Resin Ribbon, Wax-Resin Ribbon, Wax Ribbon), By Application (Desktop printer, Mobile printer, Industrial printer), By End-user (Manufacturing, Healthcare, Entertainment & hospitality, Logistics & Transportation, Retail, Others), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts 2021 – 2027” along with the table of contents (ToC) @
Various types of thermal ribbons are taken into consideration for varying applications. However, among all the thermal ribbon range, the wax ribbon is the most economical variety and are extensively used for general-purpose printing. The high demand for wax ribbons is primarily due to their superior resistance, abrasion, and admirable print quality even while being an inexpensive product. Moreover, wax thermal ribbons can be used for high printing speeds at lower thermal settings owing to their high ratio of wax during manufacturing. These ribbons find usage in a wide range of applications, including tags & labels, general labeling, carton labeling, shipping labels, print & apply applications, and retail labels & tags.
However, the covid-19 outbreak had a severe toll on the economy of North America. The U.S. is the most affected nation with the largest number of covid-19 cases in the world. Therefore, to contain the vigorously spreading virus, governments imposed a nationwide wide lockdown across the region. This, in turn, restricted the movement of goods and trade operations in North America and plummeted the market growth. The North American industry witnessed a severe downfall primarily due to the reduced demand from some of the largest end-use industries, such as retail and logistics & transportation. But investments made by governments to revive the plunged economy is likely to create growth opportunities for the industry players. Meanwhile, industry participants are actively adopting several strategies, such as mergers and acquisitions to stay ahead in the competition and improve their business profitability.
Prominent manufacturers include Union Chemicar Co., Ltd., International Imaging Materials, Inc., BlueStar, Inc., International Media Products (IMP), Zebra Technologies Corp., TSC Auto ID Technology Co., Ltd., Armor Group, Electronic Imaging Materials, Inc., DuraFast Label Company, and IMS.
The North American 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 2016 to 2027 for the following segments:
North America Market, By Print Head
North America Market, By Product
- Resin Ribbon
- Wax-Resin Ribbon
- Wax Ribbon
North America Market, By Application
- Desktop printer
- Mobile printer
- Industrial printer
North America Market, By End-user
- Entertainment & hospitality
- Logistics & Transportation
The above information has been provided for the following countries: