A new analysis report on the global thermal Printing market, which is forecasted between 2021 and 2028, has been published by Knowledge Sourcing Intelligence.
The thermal printing market has expanded significantly in recent years. The growing need for thermal printing in a variety of applications, combined with technical improvements in the sector, is propelling market expansion. The market is likely to continue growing in the future years, owing to factors such as the expanding e-commerce industry, increased implementation of RFID technology, and rising environmental concerns. Furthermore, the expansion of the e-commerce business has increased demand for thermal printing equipment and materials. Companies need labels and tags for their products, and thermal printing is an affordable and effective option. Additionally propelling the thermal printing market’s expansion is the use of RFID technology. Thermal printing offers a dependable and effective way to create labels for RFID tags. Consequently, a combination of these variables is propelling the market’s expansion.
As per the report, the thermal printing market is estimated to grow at a CAGR of 5.19% during the forecast period to reach a market size of US$45.967 billion in 2028, from US$32.263 billion in 2021.
With its excellent print quality, thermal printers have grown in popularity. They are mostly utilized in the retail, airline, entertainment, banking, supermarket, and healthcare sectors. Thermal printers make use of heat to produce images on paper. Further, to generate high-quality pictures, thermal printing mostly relies on thermal paper rather than ink or toner. The increasing need for thermal printers that can withstand tough conditions and handle large volumes of printing is driving the rapid growth of the worldwide thermal printing industry. Consequently, it is projected that the worldwide thermal printing market will grow quickly throughout the forecast period. Thermal printer adoption in the retail sector is one of the main drivers driving the market. It is expected that the printing sector will drive the market in the upcoming years with its adoption of both simple and complex technologies for a variety of applications.
The market is witnessing multiple collaborations and technological advancements, for instance, to boost printing efficiency and lessen the environmental effect of textile production in the supply chain, SHEIN, an online retailer of fashion, beauty, and lifestyle items, stated in November 2022, that it has implemented digital thermal transfer printing. SHEIN is progressively using digital thermal transfer printing. In its supply chain, the firm aims to reduce the environmental effects of textile manufacturing while also improving printing efficiency.
Based on type the global thermal printing market is divided into Direct thermal printing and thermal transfer printing. Among these, the thermal transfer category dominated the market and is poised to expand significantly over the forecast period. The medical industry makes heavy use of thermal transfer technology. Thermal printers produce large, complex outputs, such as electrocardiograms. Recent advances in thermal technology have enabled paper companies to make products with significantly higher tolerance and longer life. Compared to direct thermal printers, which tend to smear and gradually fade away, thermal transfer printers produce prints that are more readable and durable. A large selection of label materials that can withstand a range of harsh conditions, including water, heat, acid, and direct sunshine, are available thanks to thermal printing technology.
Based on application the global thermal printing market is divided into barcode labels, labelling, kiosks and others. In the global thermal printing market, the barcode printers segment held the largest revenue share. Because they can print on a wide range of materials, such as paper, polyesters, PTFE, Tyvek, etc., and because they can use a variety of ribbons to obtain the appropriate print look and lifespan, barcode printers are highly versatile. Due to the advantages of producing even extremely thin 2.5 mil barcodes, thermal barcode printers are becoming more and more in demand, which is helping to drive sales growth in this market.
Based on end-users industry the global thermal printing market is divided into retail, transportation, manufacturing, healthcare, government, security, and others. During the forecast period, the thermal printer market for healthcare applications is expected to witness significant growth. The widespread adoption of smart labels will aid in the quick monitoring of patients and medical equipment, particularly in crises. Furthermore, thermal printers are frequently used for printing labels and tags that are matched with various healthcare application procedures and assist in improving patient efficiency, bed utilization, and asset allocation.
Based on Geography the North American region grew significantly, The North American adoption of thermal printing technology is being driven by the need for economical and effective printing solutions. Many businesses use thermal printing technology because of its minimal maintenance requirements, rapid printing speed, and inexpensive consumables. Mobile printing machines are becoming more and more popular in North America. These devices are utilized extensively in field service, retail, and the transportation and logistics industries. Because thermal printing technology is user-friendly and produces high-quality prints, it is a popular option for mobile printing devices. It is anticipated that this tendency will expand the thermal printing market’s prospects in the area. Moreover, the food business in the United States makes extensive use of thermal printing technology, mostly for monitoring and labeling food products. Thermal printing technology is in high demand in this sector due to government requirements about food safety and traceability as well as the growing demand for packaged food.
As a part of the report, the major players operating in the global thermal printing market, that have been covered are Axiohm (Part of the TXCOM Group), Bixolon Co., Ltd., TSC Auto ID Technology Co., Ltd., Zebra Technologies Corporation, Honeywell International Inc, HP Development Company L.P, Seiko Instruments GmbH, SATO Holdings Corporation, Citizen Systems Europe GmbH, TOSHIBA CORPORATION.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/thermal-printing-market
The market analytics report segments the thermal printing market on the following basis:
- BY TYPE
- Direct Thermal Printing
- Thermal Transfer Printing
- BY APPLICATION
- Barcode Labels
- BY END-USER INDUSTRY
- BY GEOGRAPHY
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America