Thermal Labels Market Impacted By Covid-19, Market To Remain Dormant In Near Term, Projects FMI 2022 -2032
The global thermal labels market is slated to grow by 4.8% CAGR as demand for eco-friendly packaging solutions grows across various industries. As per Future Market Insights (FMI), the increasing awareness among the masses and suppliers regarding sustainability is leading to shift towards environment-friendly packaging solution including thermal labels. According to the study, direct thermal labels will dominate the thermal labels market due to their cost-effectiveness and characteristics like accuracy, no usage of the ink cartridge, cost-efficiency, and others. Among materials used, the demand for paper will grow especially in single-use, short term labels production. Though plastic currently dominates the thermal labels market with a market share of 61% in 2021 other alternatives such as paper thermal labels are expected to showcase a higher rate of growth. Leading players in the thermal labels market are 3M Company, Henkel AG & Co., KGaA, Honeywell Internatio...