Direct Thermal Labels Market was valued at 4.02 billion and is expected to grow at a compound annual growth rate (CAGR) of about 4% as per the forecast period.
New York, United States - February 8, 2022 /MarketersMedia/ —
Market Highlights
In the revised “Direct Thermal Labels Market” report, by Market Research Future (MRFR), provides insights essential for designing traction-winning strategies. As per MRFR analysis, the direct thermal labels global market is expected to expand at 4% CAGR by 2023.
The fabrication of direct thermal labels is done without ink, toner, and transfer ribbon. The high affordability of direct thermal label production can benefit the direct thermal labels global market. The increased use of direct thermal across expanding retail and logistic sectors can underpin the rise of the worldwide direct thermal labels market. The pharmaceuticals sector deals in temperature sensitive drugs, which explains the rise in demand for direct thermal labels in the sector. The increase in utility of direct thermal labels across the wealthy pharmaceutical sector can add an impetus to the market. The food and sector is another prominent purchaser of direct thermal labels. The growing sale of online poultry and meat, and the need to simplify the logistics for “at-door” delivery of fresh food. Dynamics of the food and beverage industry can have significant impact of the direct thermal labels market. On the contrary, the less durability offered by direct thermal labels can restrain the direct thermal labels worldwide market.
Industry Update
March 2020
The Western Shield Label Company, a US-based reputed package solution provider, acquired Label Print Technologies, an Ohio-headquartered flexographic label service provider. Label Print Technologies serving the growing demand for direct thermal labels, especially for the food and beverage sector since 2011, states that the acquisition can spawn numerous growth scopes. They hold inspiration for product diversification, backed by Western Shield Company. Acquisition and enhancement of product portfolio are well-established permits to bring in considerable business. Outcomes of the acquisition are expected to favor the global direct thermal labels market.
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Segmentation:
The direct thermal labels market study is based on application and face stock material.
The face stock materials-based segments of the market are plastic and paper. The affordability of direct thermal paper labels and their aptness for general-purpose labeling applications can boost the market. Different types of plastic that are used to fabricate polyethylene terephthalate (PET), polyethylene (PE), and polyvinyl chloride (PVC) are easily procurable. The increased use of plastics for the production of direct thermal labels lay ground work for the market to grow in years to come. Synthetic direct thermal labels have high durability, prolonged lasting of print. The growing awareness of these benefits are boosting the adoption of synthetic direct thermal labels. Moreover, synthetic thermal labels have greater resistance to moisture, abrasion, and chemicals. This can add momentum to the market.
The application-based segments of the market are pharmaceutical, food & beverages, retail, personal care, and others. Changes in the food and beverages sector can influence the direct thermal labels market. The surge in demand for packaged and processed food can thrust the global market. The retail sector segment can register a pronounced effect on the market during the forecast period.
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Regional Study
Asia Pacific direct thermal labels market can dominate in the global market. High proliferation of e-commerce and effective transportation facilities can bolster the regional market. North America direct thermal labels market can experience surge due to the growing scope of thermal labels in warehousing solutions. Europe market can witness likewise growth inducers through the forecast period
Key Players
Avery Dennison Corporation (U.S.), Technicode, Inc. (Michigan), NPI (U.S.), 3M Company (U.S.), Consolidated Label Co (U.S.), Resource Label Group (US), AM Labels Ltd (UK), Brady Corporation (U.S.), Thermal Label Warehouse LLC (U.S.), and Labelmakers Group Pty Ltd (Australia).
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