Thermal Printhead Market Size, Share, Growth and Industry Analysis by Type (Thick Film Thermal Printhead and Thin Film Thermal Printhead), By Application (POS Applications, Plotting and Recording, Self-Adhesive Labels, And Tickets), Regional Forecast To 2031

Updated On: 01 April 2024

Thermal Printhead Market REPORT OVERVIEW

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The global thermal printhead market size was USD 800.5 million in 2021 and market is projected to touch USD 1227.79 million by 2031, exhibiting a CAGR of 4.4% during the forecast period.

A thermal printhead is a printhead module of a printer. It is mainly used for transferring data, information, and images as an output like on paper. A stepper motor is mainly used to drive this equipment. They are mainly used in industries like textile, transportation and logistics.

Many advancements and discoveries are being made in the market. The introduction of 3D printers is one such new discovery in the market that is considered as the latest trend. 3D printers have a lot of advantages and scope in the modern industry. The availability of good quality machineries and equipments at a very affordable and reasonable price and superior characteristics and features of these printheads have driven the market growth.

COVID-19 Impact: Reduced Demand for Textile and Transportation Decreased the Market Share

The pandemic of COVID-19 brought down the global economy. Many industries were badly affected and suffered due to the low demand. Because of the sudden lockdown and the restrictions that were imposed during to the pandemic there was a significant decrease in the share of both the textile and transportation industry.

Thermal printheads are mainly used in the textile and transportation industry. Apart from that they are also used in logistics, labelling, paper printing and fabric industries. Due to the pandemic all of these industries also witnessed a steep decline in the market. As a result, the printhead market was also affected during the pandemic bringing down the thermal printhead market share. However, post pandemic when all the restrictions were removed there has been a boom in the market and it is also anticipated to grow substantially during the forecast period.

LATEST TRENDS

"Growing Scope of 3D Printers and Wide Scope of the Product to Increase the Market Growth"

The printhead market has seen a drastic growth and expansion after the pandemic majorly because of its application in various other industries. There are many innovations and advancements that are seen in the market. The introduction of 3D printers is one such new discovery in the market that is considered as the latest trend.

3D printers have a lot of advantages and scope in the modern industry. These printheads assist in scanning, copying, print optimization and simulation of digital softwares. IT industry is also a major domain for the application of thermal printheads. Branding has not completely moved into digitalization because of which printers are still considered an important part of the industry. The improvisation in the features of 3D printers is considered as the latest trends in the market leading to thermal printhead market growth.

Thermal Printhead Market SEGMENTATION

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• By Type

The market can be divided on the basis of type into the following segments:

Thick film thermal printhead and thin film thermal printhead. Thick film thermal printhead segment is anticipated to dominate the market during the forecast period.

• By Application

Based on application, the market share is bifurcated into the following segments:

POS applications, plotting and recording, self-adhesive labels, and, tickets. The POS applications segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Easy Availability of Cheap Machineries and Equipments to Amplify Market Growth"

There has been a boom in the market after the pandemic. The industry is also expected to witness a rapid growth during the forecast period. This will in turn increase the market growth. Many factors have contributed to the growth of the industry in the recent years.

Key players in the market have taken a step further to increase their investments and fundings. This in turn has brought out many improvements, the major one being the availability of good quality machineries and equipments at a very affordable and reasonable price. This is helping the producers and the manufacturers to increase the production and output. As a result, the market has witnessed a robust expansion. This has been a major driving factor for amplifying the growth of the industry.

"Improvised Features of Thermal Printheads to Impede Market Growth"

Thermals printheads have a lot of superior characteristics and features that have attracted the customers globally. These improvised features act as the major factors contributing to the industrial growth.

These printheads operate with very low noise. They are also characterized with very high printing speed. These are more efficient and can easily print monochromic patterns. They are also much more durable and will not involve the usage of ribbons or cartridges. The print obtained is very clear and can last for very long. It is inexpensive and is also available in various sizes and modules. These collectively act as factors driving the market growth.

RESTRAINING FACTOR

"Mechanical Problems Pertaining to The Printheads to Bring Down the Market Share"

Even though the cost of the thermal printheads is affordable and reasonable the maintenance cost is high and acts as a major disadvantage. The frequent occurrence of damages and mechanical problems are other factors that can hamper the market growth.

Also, due to digitalization the market size is also shrinking day by day in many industries. The fluctuation in the price of raw materials is another disadvantage. Apart from this the tough competition that is provided by the key industry players all over the world also bring down the global market share. The players have to constantly keep adopting themselves to innovative strategies to hold a strong position in the market. These are the factors restraining the market growth.

Thermal Printhead Market Regional Insights

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"North America to Dominate Market Share Owing to Thriving Technology"

The region that is observed to lead the market during the forecast period is North America. Followed by North America is Asia Pacific. There are several reasons that have been attributed to the growth of thermal printhead market in North America. The major factor contributing to the market development in North America is the thriving technological conditions in the region. Presence of the key industry players and huge investments coming in are yet other factors promoting increased market share. All of these factors are collectively contributing to the market growth in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Kyocera (Japan)
• ROHM (Japan)
• Shandong  Hualing (SHEC) (China)
• Toshiba Hokut (Japan)
• Gulton (U.S.)
• Mitani Micro (Japan)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.