The thermal printing market has witnessed significant growth over the past few years owing to its advantages of being portable and compact. Thermal printing technology is used for various applications including POS/billing, labels and tickets, security surveillance, logistics and transportation. Thermal printing provides instant, invisible barcode and text printing on heat-sensitive paper or receipts without using ribbons or toners. With no ink cartridges or rollers required for printing, it offers durable, high-quality and cost-effective printing solutions. Growing adoption of thermal printers in industries such as healthcare, retail, logistics and transportation is further expected to drive the thermal printing market.
The Global Thermal Printing Market Demand is estimated to be valued at US$ 54.31 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.
Key Takeaways
- Key players operating in the thermal printing market are PharmaZell, ABIL CHEMPHARMA PRIVATE LIMITED, ICE, Grindeks, Suzhou Tianlu Bio-pharmaceutical Co.,Ltd, ARCELOR CHEMICALS PRIVATE LIMITED, Dipharma Francis S.r.l. These players are focusing on new product launches and partnerships to strengthen their market position.
- The thermal printing market is witnessing significant demand from the healthcare sector. Various applications such as medical labels, medical reports and drug tracking are spurring the use of thermal printers in hospitals and pharmacies.
- Technological innovations are helping improve the functionality of thermal printers. Newer technologies allow integration of thermal printing into IoT and Industry 4.0 applications. Advanced features such as wireless connectivity, barcode reading and analytics capabilities are further enhancing the demand.
Market Trends
-Mobile thermal printing is emerging as a key trend with increasing focus on portable printing solutions for field sales, delivery and transportation applications. More compact and long battery life printers are being developed.
-Thermal transfer over direct thermal printing is gaining popularity due to its ability to print on various types of substrates including rough surfaces, coloured backgrounds and synthetic materials.
Market Opportunities
-Growing applications of blockchain for supply chain management are opening new opportunities for integrating thermal printers. Blockchain-enabled printers can help trace shipments and monitor quality in real-time.
-Adoption in new verticals such as construction, energy and utilities provides significant headroom for growth. Thermal printing solutions catering to jobsite labelling, asset tagging and work management in these industries can drive the next phase of expansion.
Impact of COVID-19 on Thermal Printing Market
The COVID-19 pandemic has significantly impacted the growth of thermal printing market. During the initial phase of lockdowns, the demand from retail and healthcare sectors declined sharply as most of the establishments were closed. This led to a fall in shipments of thermal printing consumables like thermal paper and ribbons. However, as the pandemic intensified, there was a rise in demand from healthcare and pharma packaging applications. Thermal printing found widespread use in printing medical prescriptions, labels for medicine packaging and temperature verification labels for vaccine transportations. E-commerce sector also witnessed a surge in demand which drove the uptake of thermal printing solutions for labeling parcels and packages.
Post pandemic, the demand from retail and hospitality industries is recovering gradually as businesses resume operations with safety protocols. Meanwhile, the demand from healthcare and pharma industries is anticipated to remain high. Adoption of contactless transactions and QR code payments has increased significantly which is boosting the demand for portable thermal printers. With social distancing becoming a new normal, thermal printing will play a crucial role in various applications like event ticketing, boarding passes, printing digital menus at restaurants. Manufacturers are focusing on developing advanced technologies like auto-cut printers and integrated barcode scanners to facilitate contactless transactions. Overall, while COVID-19 posed short term challenges, it has opened new growth opportunities for thermal printing market.
Geographical Regions With Highest Thermal Printing Market Value
North America represents the largest market for thermal printing solutions in terms of value, accounting for over 35% share of the global market revenue. Presence of major industry players, well established distribution networks and early adoption of advanced technologies drives the thermal printing market growth in the region. Europe is the second largest regional market supported by wide usage of thermal printing solutions across various industries in countries like Germany, UK and France. Asia Pacific market is expected to witness the fastest growth during the forecast period due to rising demand from emerging economies like China, India and South East Asian nations. E-commerce boom, increasing digitization of processes and expanding manufacturing sector will augment the demand for thermal printing in Asia Pacific region.
Fastest Growing Regional Market for Thermal Printing
Asia Pacific region is poised to be the fastest growing regional market for thermal printing during the forecast period. This is attributed to evolving demographic dynamics, rising disposable incomes, increasing penetration of digital technologies and growing industrialization in Asia Pacific countries. China represents the largest thermal printing market in Asia Pacific region, followed by India and other Southeast Asian nations. Proactive government initiatives to foster digital transformation, supporting local manufacturing and promoting cashless economies will propel the demand for versatile thermal printing solutions across multiple end-use industries. Furthermore, expansion of global companies into Asia Pacific coupled with emergence of local manufacturers offering cost-effective thermal printing products are driving comprehensive market growth in the region.
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The thermal printing market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% during the forecast period.
The growth of the thermal printing market is driven by factors such as rising utilization of automatic identification and data capture technologies for improving productivity, growing concerns regarding product safety and anti-counterfeiting, increasing use of thermal printing technology in latest on-demand printing applications, rising penetration of wireless technologies in mobile printers, and growing use of RFID and barcode thermal printers in the fast-growing e-commerce industry.Download Free PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=4699565The thermal printing supplies segment is expected to dominate as well as witness significant growth in the thermal printing market during the forecast period.
The increasing demand for RFID-printed labels in the supply chains of retail and healthcare industries is the main factor that is likely to contribute to the high growth of the market for RFID printers.
The increasing use of thermal RFID printers in these applications is attributed to their flexibility, lightning-fast printing speed, less need for maintenance, and better image quality.Among all applications, the thermal printing market for healthcare & hospitality applications is expected to grow at thehighest CAGR from 2020 to 2025.
The use of smart labels helps in the instant tracking of patients and medical equipment, whenever required, especially in emergencies.
Thermal printers are widely used for printing labels and tags that are compatible with various processes in the healthcare application and help to improve patient flow, bed utilization, and asset allocation.Among all regions, the thermal printing market in APACis expected to grow at the highest CAGR during the forecast period.
