Thermal Printing Market - Forecasts from 2023 to 2028

The thermal printing market is expected to grow at a compound annual growth rate of 5.19% over the forecast period to reach a market size of US$45.967 billion in 2028, from US$32.263 billion in 2021.

Thermal printing is a type of printing technology that uses heat to create an image or text on a paper or label. The thermal printing market refers to the industry that produces and sells thermal printing equipment and supplies, including printers, print heads, thermal transfer ribbons, and labels.

The thermal printing market has been witnessing significant growth over the past few years. The increasing demand for thermal printing in various applications, coupled with technological advancements in the field, is driving market growth. The market is expected to continue its growth trajectory in the coming years, driven by factors such as the growing e-commerce industry, increasing adoption of RFID technology, and rising environmental concerns. Furthermore, the growth of the e-commerce industry has led to an increase in the demand for thermal printing equipment and supplies. Companies require labels and tags for their products, and thermal printing provides a cost-effective and efficient solution.

The adoption of RFID technology is also driving the growth of the thermal printing market. RFID tags require printing for label production, and thermal printing provides a reliable and efficient solution. Thus, these factors combined are driving the growth of the market.

The thermal printing market is driven by the expanding healthcare industry.

The healthcare industry is one of the major drivers of the growth of the thermal printing market. The technology is widely used in the healthcare industry for a variety of applications, including patient identification, prescription labeling, specimen labeling, and medical record printing. One of the key factors driving the growth of thermal printing in the healthcare industry is the increasing demand for reliable and accurate patient identification. Thermal printing technology provides high-quality and durable labels that are resistant to smudging, fading, and moisture, making them ideal for patient identification purposes. This helps to reduce errors and improve patient safety, which is a critical concern in the healthcare industry.

Thermal printing is also used extensively in prescription labeling, which is another important application in the healthcare industry. The use of accurate and legible labels on prescription containers is essential to ensure that patients receive the correct medication and dosage. Thermal printing provides high-resolution printing capabilities that produce clear and crisp text, making it an ideal solution for prescription labeling. Another area where thermal printing is widely used in the healthcare industry is specimen labeling. Accurate specimen labeling is essential for maintaining patient safety and ensuring accurate testing and diagnosis. Thermal printing technology provides high-quality, durable labels that are resistant to smudging, fading, and moisture, making them ideal for specimen labeling.

Market Developments:

• In 2020, Zebra Technologies Corporation launched its new ZT600 and ZT510 industrial printers, which feature advanced thermal printing technology, improved connectivity options, and enhanced durability.
• In January 2021, the new BV400D thermal barcode printer series from Toshiba Tec, a manufacturer of barcode printing equipment, was launched. These new desktop printers are said to be the most potent products Toshiba has ever created, with improved performance and durability. Toshiba technology, such as a smart Display for a better user experience and print speeds up to 7 inches per second, which was previously only available in mid-range or industrial printers, is now included in the BV400D series.

The barcode labels segment is expected to witness robust growth.

The barcode labels is a growing segment, driven by the increasing adoption of RFID, automatic identification, and data capture technologies to improve efficiency and productivity and reduce the risk of theft and counterfeiting in the retail industry. Growing demand for barcode thermal printers from the booming e-commerce industry is also contributing to the expansion of this segment.

North America accounted for a major share of the thermal printing market.

By geography, the thermal printing market has been segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

The demand for cost-effective and efficient printing solutions is driving the adoption of thermal printing technology in North America. Thermal printing technology is known for its low-cost consumables, high-speed printing, and low maintenance, making it a popular choice for various industries. The North American market is witnessing a growing trend towards mobile printing devices, which are widely used in the transportation and logistics industry, field service, and retail sectors. Thermal printing technology is a popular choice for mobile printing devices due to its high-quality printing capabilities and ease of use. This trend is expected to create more opportunities for the thermal printing market in the region. According to the U.S. Department of Transportation, the transportation and logistics industry in the United States accounts for 8.9% of the country's gross domestic product (GDP). The adoption of mobile printing devices in this industry is expected to increase efficiency and productivity, driving the demand for thermal printing technology.

The food industry in the United States is a significant user of thermal printing technology, primarily for food labeling and tracking. The increasing demand for packaged food, coupled with government regulations for food safety and traceability, is driving the demand for thermal printing technology in this industry. According to the U.S. Department of Agriculture, the value of U.S. food exports was $139.5 billion in 2020, representing a 2% increase from the previous year. The increasing demand for food exports, coupled with government regulations for food safety and traceability, is driving the demand for thermal printing technology in this industry.

Market Segmentation:

BY TYPE

• Direct Thermal Printing
• Thermal Transfer Printing

BY APPLICATION

• Barcode Labels
• Labeling
• Kiosks
• Others

BY END-USER INDUSTRY

• Retail
• Transportation
• Manufacturing
• Healthcare
• Government
• Security
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others