DIRECT THERMAL PRINTING FILM MARKET REPORT OVERVIEW
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The global direct thermal printing film market size was USD 395.3 million in 2022 and is projected to touch USD 651.04 million by 2031 at CAGR 5.7% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with direct thermal printing film market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
Direct thermal printing film are BOPP films with a special coating that, when in contact with the print head of a thermal printer, facilitates the development of an image or imprint on the film. The coated surface is typically covered with a protective layer to shield it from mechanical wear, environmental influences, chemical compounds, etc. The film provides good water and scuff resistance as a result. The film also prints with a dark picture and a matte texture that is perfect for paper-like surfaces while using less energy.
It has many uses, including information labelling (airport luggage tags), retail tracking for labels made by Track & Trace, POS weight and price labelling, etc. Films for direct thermal printing are extremely heat, water, UV, chemical, and other resistant. Films designed for direct thermal printing are easily adaptable to a wide range of printing processes, including flexography, letterpress, offset, screen printing, gravure, etc. The primary raw materials used to create direct thermal printing film are polypropylene, polyethylene, polystyrene, etc.
COVID-19 Impact: Industry Imbalance Causes Market Distortion
For manufacturers of chemicals and materials, the COVID-19 outbreak resulted in unstable markets, a decline in consumer confidence, and issues with import and export business. Due to the lockdown, markets were closed and many stayed at home. This development has led to supply chain breaches, stock market inefficiencies, and vendor instability. The advanced materials and chemical industries' shutdown had an impact on the entire market. Direct thermal printing film were rendered obsolete by the closure of markets because there was no longer a demand for the product. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions the financial imbalance that occurs due to shutdown of various stores & large sectors was the main reason that distorted the whole market. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall thermal printing film industry. This has partially impacted the direct thermal printing film market.
LATEST TRENDS
"Product use in healthcare to Boost the Market Growth"
The thermal printing industry is anticipated to expand in the healthcare and hospitality sectors. When needed, especially in an emergency, the usage of smart labels aids in the immediate tracking of patients and medical equipment. Labels and tags that are compatible with numerous operations in the healthcare industry are frequently printed using thermal printers, which helps to increase patient flow, bed utilization, and resource allocation. Thus, the use of thermal printers in healthcare industry is a main trend which is creating opportunities for the market to boost. The market's total expansion is primarily due to all these new developments.
DIRECT THERMAL PRINTING FILM MARKET SEGMENTATION
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By Types
Based on type, the market is classified into White Thermal Printing Film, Transparent Thermal Printing Film.
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By Application
Based on application, the market is categorized into Cosmetics and Personal Care, Pharmaceutical, Food and Beverage and Luggage Tags.
DRIVING FACTORS
"Preference of Packaged Food that Gives the Market Extra Boost "
The region's rapid adoption of thermal paper for a variety of end uses, including supplement packaging and labelling, is credited with spurring market growth. The gaming industry is the primary factor behind this development. The production and consumption of thermal paper in the area are expected to be impacted by manufacturers' increased attention to sustainable production techniques. According to a study recently released by Frontier.org, approximately 100 million tons of food are wasted each year in the EU, accounting for almost 30% of the agri-food supply chain and having a significant negative impact on the environment (high carbon food print and blue water footprint, vain land use, etc.). Thereby, the effective use of thermal printing films on food products may reduce food wastage and will help in the adoption of eco-friendly coatings such as powder and waterborne in the production of thermal paper. As a result, the growth, and increasing preference for packaged food to boost the market will contribute to the expansion of the thermal printing industry and it will improve the overall Global and United States direct thermal printing film market growth.
"Barcodes Labels in Warehouses & Airports for Luggage to Encourage Market Expansion"
Airport luggage, shipping, logistics, etc. are just a few applications that use barcodes made from direct thermal printing film. Over the projected period, the market for thermal printing film would benefit from the rising demand for safe and secure logistics and transit of goods. Direct thermal printing film are also very durable and robust, which gives them a comparative advantage over the use of other films in thermal printing. The development of this market is also being fueled by the heat-sensitive properties of thermal printing materials. When compared to other types of films, direct thermal printing film are more affordable options, which is one of the few things driving the market's expansion. As a result, during the projected period, the market for chemicals and advanced materials is anticipated to rise rapidly.
RESTRAINING FACTORS
"Damage from Sunlight to Impede Market Expansion"
Despite several advantages, the market for direct thermal printing film has some obstacles that will limit market expansion throughout the projection period. For instance, thermal printing films made of plastic cannot resist prolonged exposure to sunlight and must be replaced after a few months, which restrains the market's ability to expand. Market expansion is constrained because of the damage due to sunlight. If this problem is fixed, the market will start to grow right away.
DIRECT THERMAL PRINTING FILM MARKET REGIONAL INSIGHTS
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"North America Dominating the Market Across the Globe"
The market for direct thermal printing film in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the Global and United States direct thermal printing film market share is the growing demand of product in pharmaceutical, food and beverages and cosmetics industry is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.
KEY INDUSTRY PLAYERS
"Leading Firms to Increase Product Demand"
The study includes information on the market players and where they stand within the sector. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being acquired and made available. The study on devices offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.
List of Market Players Profiled
- Mondi Group (U.K.)
- LINTEC (U.S.)
- Tech Labels (U.S.)
- Ricoh (Japan)
- Smith & McLaurin (U.S.)
REPORT COVERAGE
The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost direct thermal printing film market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 395.3 Million in 2022 |
Market Size Value By |
US$ 651.04 Million by 2031 |
Growth Rate |
CAGR of 5.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the direct thermal printing film market expected to touch by 2031?
Based on our research, the direct thermal printing film market is projected to touch USD 651.04 million by 2031.
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What CAGR is the direct thermal printing film market expected to exhibit by 2031?
The direct thermal printing film market is expected to exhibit a CAGR of 5.7% by 2031.
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Which are the driving factors of the direct thermal printing film market?
Preference of packaged food that gives the market extra boost & barcodes labels in warehouses & airports for luggage to encourage market expansion.
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What is the restraining factor of the direct thermal printing film market?
Damage from sunlight to impede direct thermal printing film market expansion.