Thermal labels are self-adhesive labels that are printed using thermal printers. They are commonly used for labeling and tracking products in various industries such as retail, logistics, healthcare, and manufacturing. The market for thermal labels is anticipated to reach US$ 1,420.5 Mn by 2032, at a CAGR of 4.8% from 2022 to 2032, with an estimated value of US$ 892.4 Mn in 2022.
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One of the key drivers of the thermal labels market is the increasing demand for barcoded labels in the retail and logistics industry. Thermal labels are widely used for barcode printing, which helps in improving inventory management, reducing errors, and enhancing supply chain efficiency. Moreover, the rising adoption of e-commerce activities worldwide is also fueling the demand for thermal labels as they are essential for tracking and tracing products.
Another factor driving the growth of the thermal labels market is the increasing demand for sustainable labeling solutions. As consumers become more environmentally conscious, there is a growing demand for labeling materials that are recyclable, reusable, and biodegradable. Thermal labels offer a sustainable solution for labeling products as they are made of materials that can be recycled.
In conclusion, the thermal labels market is expected to grow in the coming years due to the increasing demand for barcoded labels in the retail and logistics industry and the rising adoption of e-commerce activities. The market is highly competitive, with major players investing in product innovation and expansion to gain a competitive edge. Additionally, the demand for sustainable labeling solutions is expected to drive the growth of the market.
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Competitive Landscape
Market players have been focusing on making their products more functional, attractive, sustainable, hygienic, and recyclable. Besides this, they are focusing on strategic collaborations to stay ahead of the game.
- In October 2021, Armor Group announced the acquisition of IIMAK which will help to reinforce the company’s position in the thermal transfer ribbon market.
- In October 2020, a label company named Western Shield Label Company acquired Label Smith.
Key Players:
- 3M Company
- Henkel AG & Co. KGaA
- Honeywell International Inc.
- CCL Industries Inc.
- Lintec Corporation
- Constantia Flexibles Group GmbH
- Coveris Holdings S.A.
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Thermal Labels Market by Category
By Material, Thermal Labels Market is Segmented as:
- Paper
- Plastic
By Label, Thermal Labels Market is Segmented as:
- Direct thermal labels
- Thermal transfer labels
By Application, Thermal Labels Market is Segmented as:
- Food & beverages
- Healthcare
- Semiconductor & Electronics
- Others (Industrial)
By Region, Thermal Labels Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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