HomeAdvanced Materials Thermal Transfer Ribbons Market Size, Share & Trends Analysis Report by Type (Wax Ribbons, . . .

Thermal Transfer Ribbons Market

Thermal Transfer Ribbons Market Size, Share & Trends Analysis Report by Type (Wax Ribbons, Resin Ribbons, Wax-Resin Ribbons) by Application (Industrial Manufacturing, Barcodes And QR Codes) and Segment Forecasts, 2023-2031

Market Overview

According to Reed Intelligence the Global Thermal Transfer Ribbons Market Size will approximately grow at a CAGR of 7% during the forecast period.

Thermal transfer Ribbon is used for printing barcodes or identification labels. Thermal Transfer Ribbon is done for purposes where hardwearing is needed so that it can withstand any chemical or heat. These polyester films are coated with different layers of ink to produce your desired effect. Typically, there are four layers of ribbon: backing, release, base PET and ink. The backing layer is for the smooth running of the printer and to prevent damage to the print head. The release layer is applied for better ink release. The thermal transfer printing process involves the transfer of ink through the ribbon. When it goes underneath the printhead, the heat melts the ribbon, and ink gets on the printed label material.

The thermal transfer ribbons are made of either wax or resin or combined (wax resin); it depends on the use of the printer. These define the sensitivity of the ribbon. The resin-made ribbons have less sensitivity to heat under the printer head, wax-Resin has medium sensitivity to heat under the printer head, and wax has high sensitivity under the printer head.

Thermal Transfer Ribbons Market Share 2019 2020 2021 2022 2023 2024 2025 2026 2028 2029 2030 2031 $XX.X Million $XX.X Million CAGR 7% Historical Years Forecast Years
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Market Dynamics

Market Drivers

  • QR Codes

COVID-19 has a lot of impacts. One of the most prominent among them is the digital world. Everything has become digital nowadays; the most important is digital transfers through QR codes. We can see QR codes everywhere in small or big shops or even in rikshaws. Thermal transfer ribbons are used to print QR codes; every little thing needs to have its whole history on it if we are looking for food or healthcare products because people are more aware of what they are buying. They want to know every detail; this one is another impact of COVID-19.

  • Healthcare

World Health Organization (WHO) has reported that Thermal transfer ribbons are in demand in hospitals as they are used for taking real-time rhythm of the patients through cardiac monitors. This is also another impact of COVID-19.

  • IoT Printers

IoT printers are getting more new features that need thermal printers and which need thermal transfer ribbons, so it is directly helping to raise the thermal transfer ribbons market.

Market Restraints

  • Competition In Technology

Direct thermal printers and InkJet printing are competitors for thermal transfer ribbon printing. Direct thermal printing makes the ribbon completely useless, and InkJet printing gives better capabilities for printing.

  • Changing Prices of Raw Materials

Thermal transfer ribbons need wax, resins, and other chemical compounds for substrates. Changing these raw material prices can make less profit as there will be more production costs, and it will affect the thermal transfer market directly.

  • Impact on The Environment

Thermal transfer ribbon uses poly-based material extracted from petroleum products which causes more mining and directly affects the market growth. In addition, producing these poly ribbons creates a huge amount of waste, which pollutes the environment and is likely to hamper market growth.

Market Opportunities

  • Growth of E-Commerce and Manufacturing Industry

The manufacturing industries are growing rapidly with the increasing population and market demand; all these products need barcodes, QR codes, and production & batch information. Thermal transfer ribbon is used for this purpose for their durability. E-commerce is another important industry that needs Thermal transfer ribbons for QR codes.

Market Scope

Report Metric Details
Market Size by 2031 USD XX Million/Billion
Market Size in 2023 USD XX Million/Billion
Market Size in 2022 USD XX Million/Billion
Historical Data 2020-2022
Base Year 2022
Forecast Period 2024-2032
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. Segmentation by Type
    1. Wax Ribbons
    2. Resin Ribbons
    3. Wax-Resin Ribbons
  2. Segmentation by Application
    1. Industrial Manufacturing
    2. Barcodes And QR Codes
  3. Segmentation by Printer Head
    1. Flat Head Printer
    2. Near–Age Printer Head
Geographies Covered
  1. North America
  2. Europe
  3. APAC
  4. Middle East and Africa
  5. LATAM
Companies Profiles
  1. Ricoh
  2. ITW
  4. Zebra
  5. TSC
  6. Zhuoli Group (Zhuorim)
  7. ARMOR
  8. IIMAK
  9. General Co., Ltd.
  10. Dai Nippon Printing Co., Ltd.
  11. Fujicopian
  12. Inkstar

Segmental Analysis

Segmentation By Type

  • Wax Ribbons

Wax ribbons are used more than the other two because it is cost-effective, the quality of printing is excellent, and they can print on coated or uncoated labels. They are used for purposes where no durability or any harsh conditions resistance is needed.

  • Resin Ribbons

These ribbons are made of resin-based ink; they are the less sensitive ones. They are resistant to chemicals, water, heat, and abrasion. They are used in the industries where the most durable labels are needed, such as the healthcare industry (Medical Devices), automobile industry, and electronic industry. This ribbon is used on synthetic materials like polyester, polyamide, etc., as they can adhere to them.

  • Wax-Resin Ribbons

These ribbons are made of a combination of resin and wax. They offer stronger durability compared to wax ribbons. They have resistance against heat, water chemicals, and other unsuitable environments. This ribbon is used on synthetic materials.

Segmentation By Application

  • Industrial Manufacturing

Thermal Transfer Ribbons are used on equipment, products, codes on lots, and inventories for proper identification and tracking. 

  • Barcodes And QR Codes

This is the most common use of thermal transfer ribbons as the QR and Bar codes give the information and tracking, and another use is in e-commerce. Also, in the healthcare industry, bar codes, and QR codes are important for expiry dates and other important information on medical devices and pharmaceutical products.

Segmentation By Printer Head

  • Flat Head Printer

Flathead printers are the most common thermal transfer printers. These printers have a flat print head that directly interacts with the ribbon and the substrate to be printed. Flathead ribbons are designed specifically for use with these printers to ensure full functionality, compatibility, and optimum performance. To meet different printing requirements, they are available in different ribbons types such as wax, wax resin, and resin.

  • Near–Age Printer Head

Near-edge printers use a different print head design than flathead printers. Near-edge printheads enable faster print speeds and higher output volumes because they are positioned at the edge of the printhead assembly. Near-edge ribbons are designed for this printer, providing proper alignment and efficient printing. They are available in different types to meet different usage requirements.

Thermal Transfer Ribbons Market Analysis By Type Wax Ribbons Resin Ribbons Wax-Resin Ribbons By Application Industrial Manufacturing Barcodes And QR Codes By Region North America Europe APAC Middle East and Africa LATAM Key Players Ricoh ITW HANGZHOU TODAYTEC DIGITAL CO.,... Zebra TSC & More ...

Regional Analysis

The Global Thermal Transfer Ribbons Market Analysis is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

North America

This region comprises countries like United Nations and Canada. The industries which are thermal transfer ribbons market drivers are the Automotive industry, healthcare industry, logistics industry, retail industry, and manufacturing industry. The strong presence of major thermal transfer ribbon manufacturers and a strong focus on barcode labelling and compliance regulations help to grow the market in this region.


Countries included in this region are Germany, the U.K., France, Russia, Italy, and Rest of Europe. Industries such as retail, logistics, pharmaceutical, and automotive are dominating the European thermal transfer ribbon market. Strict labelling regulations in the region, increased focus on product tracking, and demand for durable and high-quality labelling solutions are helping to drive growth in the thermal transfer ribbon market.

Asia Pacific

Asia Pacific region has countries like China, Japan, India, South Korea, and Australia. Due to fast industrialization, a growing e-commerce industry, and increasing acceptance of thermal transfer printing technology, this region represents a considerable growth opportunity for the thermal transfer ribbon market. The packaging, retail, manufacturing, and logistics industries lead the demand for thermal transfer ribbons in this region.

Middle East and Africa

The countries in this region are Saudi Arabia, UAE, Egypt, South Africa, and the Rest of MEA. The main market drivers in this region are the manufacturing industry, retail and logistics industry, and healthcare industry. Increasing industrialization, tracking, and efficient labelling can grow the thermal transfer ribbon market in this region.

Thermal Transfer Ribbons Market Regional Analysis
Regional Growth Insights Download Free Sample

Key Players

  1. Ricoh
  2. ITW
  4. Zebra
  5. TSC
  6. Zhuoli Group (Zhuorim)
  7. ARMOR
  8. IIMAK
  9. General Co., Ltd.
  10. Dai Nippon Printing Co., Ltd.
  11. Fujicopian
  12. Inkstar

Recent Developments

On 16th January 2023, Domino Printing India has recently launched their brand new Vx-Series thermal transfer overprints (TTO), which provides a greater output on variable food packaging lines; it is designed to optimize production tie while reducing the use of ribbon in flow wrap and vertical (VFFS) and horizontal form fill seal (HFFS) applications.

Markem–Imaje, A USA-based company, launched their new ribbon called SmartDate Xtra 3530 on 20th April 2023. This ribbon will be available in a wide range of widths and lengths to suit customer requirements, including 33mm x 900m, 55mm x 900m, 110mm x 600m, and 130mm x 600m, and is designed to print on paper-based substrates such as coated, uncoated, glossy and rough paper.

Thermal Transfer Ribbons Market Segmentations

Segmentation by Type

  • Wax Ribbons
  • Resin Ribbons
  • Wax-Resin Ribbons

Segmentation by Application

  • Industrial Manufacturing
  • Barcodes And QR Codes

Segmentation by Printer Head

  • Flat Head Printer
  • Near–Age Printer Head

Frequently Asked Questions

Which region has the largest share of the market?
North america region has the largest share of the market.
Segment by type (Wax Ribbons, Resin Ribbons, Wax-Resin Ribbons) Segment by application (Industrial Manufacturing, Barcodes And QR Codes) these are the segments covered in this market.
The global thermal transfer ribbons market growing at a CAGR of 7% from (2023–2031).
The forecast period for this market report is between 2023-2031.
Industrial Manufacturing, Barcodes And QR Codes are the leading application of global market.

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