Thermal Transfer Ribbon Market : Global Industry Analysis 2016 – 2020 and Opportunity Assessment 2021 – 2031

Thermal Transfer Ribbon Market Overview

Thermal transfer ribbon is a rolled, thin polyester film which has an exceptional black coating on one side and is coated with four different layers as – ink layer, release layer, PET base film, and back protection layer. The ink layer is then passed on to the label due to the heat which is passed on by the thermal head of the thermal printer.

Majorly, three types of thermal transfer ribbons are used in thermal printers: Wax, Mid-range, and Resin. Then, the thermal transfer generates a permanent, sharp print which is more long-lasting when compared to thermal ribbon which makes it ideal for long-life product labeling, for the products which are stored outdoors or in direct sunlight.

Thermal transfer ribbon is used to make labels that are mostly tougher and also less likely to scratch or fade due to the different layers used as a ribbon in printing the labels. Food & beverages, logistics, and transportation, electrical & electronics are the key industries that use thermal transfer ribbon products and certainly helps in increasing market demand.

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What are the Key Trends Impacting Growth of the Thermal Transfer Ribbon Market?

Variousapplications with advancement in the technology, personalization in the printing and packaging industry and new product launches are expected to set a trend for the thermal transfer ribbon market sooner.The use of barcode, as well as RFID on all the products in the retail industry, is increasing demand for the use of the thermal transfer ribbon market.Furthermore, printing solutions are forecasted to become more of consumer-focused with packaging personalization and customization which will uplift the thermal transfer ribbon market preferably.

The increasing demand for distinctive packaging solutions along with the growth viewed in the retail sector infiltration in developing economies is a leading factor that accounts for the growth of the thermal transfer ribbon market. Also, it is anticipated that new product launches by the major players serving the market will besides create new opportunities for the thermal transfer ribbon market.

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How can Thermal Transfer Ribbon Improve the Prints on Labels when compared to the Direct Labels?

The thermal transfer ribbon uses an ink layer to print on the label which is usually made of wax or resin and transferred to the receiving material during printing which then generates the image on the label. Development in the technological changes has led to improve in the printing properties ofthermal transfer ribbon like heat, abrasion, and solvents resistance properties which yields the best print quality on the labels which has very negligible chances of fading or wiping out.

Wax/resin ribbons, category in the thermal transfer ribbon, are capable of having more durability as it is a mix of the two components, wax and resin giving it an extended print lifetime. This can be an ideal choice for products that are exposed to changing temperatures or climate conditions.

Full resin ribbons are the most adjustable ribbons in the thermal transfer printed ribbon market in case of their chemical resistance, temperature or weather resistance, and durability factor. This ribbon is usually used to label sensitive medical applications or chemicals which require high durability.So, properties like durability and solvents resistance are expected to improve the prints on the label and thereby cater a positive growth to the market.

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How the use of Thermal Transfer Ribbon Technology will FulfillPrinting and Labeling Solutions?

The thermal transfer ribbon is segmented into three categories as, full wax ribbons, wax/resin ribbons, and full resin ribbons. Each of the categories has its advantages and applications while catering to the different markets. Also, the cost associated with the production of the thermal transfer printed label is less with cost differential factor which can be as low as 5% or as high as 50% depending on several factors like, the ink used in printing the label, heat transfer to the ink by the machine while printing, and resistance properties of the ribbon.

Furthermore, thermal transfer printed ribbon labels offer a lifetime of one to two years while direct thermal printed labels have a lifetime of just six to nine months, which is an added advantage to the thermal transfer printed ribbon technology used in printing the labels. Also, thermal transfer printed ribbon labels have good exposure to harsh environments for the outdoor products within the high temperature, thereby, giving it an adjustable property while in-transit. Thereby, factors like extended lifetime, advancement in the printing quality, low cost and adjustability are driving the market for thermal transfer ribbon.

What are the Key Challenges that may hinder the growth of the Thermal Transfer Ribbon Market?

In recent times, sustainability in the case of waste reduction and lower carbon footprints are highly playing a considerable part in the corporate mission statements and in some part, used to uplift the market thereby making it an asset to be used as competitive advantage. Thermal transfer ribbon employs a poly-based material which is extracted from crude oil products. Employing of this material in printing and labeling may lead to adverse effects to the environment which can lead to waste production and in turn cause environmental pollution. Eliminating the use of poly-based material and substituting it with the eco-friendly material in the thermal transfer printed ribbon have high chances to cater the optimistic growth in the market.

Competitive Landscape:

Key players are

• Honeywell International Inc.
• Zebra Technologies Corp.
• FUJICOPIAN CO., LTD
• ITW Brand Identity
• IIMAK
• Todaytec
• PAC EDGE LABELS PVT. LTD.
• Norwood Marking Systems
• WALTVEST Sdn Bhd
• KMP PrintTechnik AG
• TSC
• SATO
• ARMOR
• AirTrack
• Weber Packaging Solutions
• DNP Ribbons
• Others.

What strategies are the Key Players adopting for Increasing their Market Share in the Thermal Transfer Ribbon market?

The manufacturers involved in the production of the thermal transfer ribbons are involved in making the best quality and durable print labels for the variety of product use in a type of bar codes and RFID. Further,new product launch are expected in the thermal transfer ribbon market as it will allow manufacturers to grab new customers.

• On 3rd June 2020, IIMAK launched PM250 wax or resin thermal transfer ribbon with advanced, all-new “all-purpose” ribbon which creates admirable prints with darkcolor shaded prints on substrates, starting from rough papers to smooth synthetics. This perfectly suits barcode labeling in food, healthcare, retail, automotive, construction materials whenever enhanced durability is required.
• On 18th May 2020, in the UK, Thermal Transfer Solutions (TTS) has introduced an updated near-end line of thermal transfer ribbons highlighting a murky, quick, and acute print with an absolute part of durability.

The company evolved with an augmented version of its prominent NEX10 which covers all wax resin functions and prints from rough medical papers, varnished labels to the gleaming packaging films. It prints at a negligible temperature and employs an easy release layer thereby allowing for higher print speeds.

Why will the United States Generate Significant Demand for Thermal Transfer Ribbon Market?

The United States holds the largest segment of ink manufacturing companies that manufacture the best quality ink for printing and labeling of labels for various verticals due to the availability of enough resources and technological facilities. Some of them are DNP Ribbons, ARMOR, Omni System, and many are based in the United States which might play a significant role in raising the market demand.

Also, the existence of an enormous retail market along with extensive technological infrastructures are some of the major factors contributing to this growth. The U.S. is one of the major retail centers across the globe, which will certainly add to the overall market demand.

How has COVID-19 impacted the Growth of the Thermal Transfer Ribbon Market?

The outbreak of COVID-19 has brought unlikely effects on the thermal transfer ribbon market by creating a disturbance and massive slowdown in the area of the supply chain, which in turn adversely affected the printing and labeling industry as all the flights were canceled, travels were banned, restaurants were closed which in turn led to falling business assurance and thereby creating panic situation about raising the global economy.

Key Segments of Thermal Transfer Ribbon Market covered in the Report: