Heat Transfer Paper Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029

Description

Heat Transfer Paper Market size was valued at USD 594.7 million in 2022 and is expected to grow at a CAGR of 4.6%  from 2023 to 2029. Heat transfer paper is a three-layer coated substrate that releases ink and color to transfer the print onto paper, textiles, and other things. It is utilized in a variety of products, including consumer items, stationery, and textiles and apparel. The increasing demand for inkjet and laser printers has led to the adoption of heat transfer paper during the forecast period. Significant growth in the bespoke textile sector and printing technology has increased global demand for heat transfer paper. Also, consumer spending on individualized and fashionable garments is likely to fuel market revenue growth during the forecast period. Despite the high cost, the ability to generate high-quality fabric design is boosting the global heat transfer paper market’s revenue growth. Moreover, as consumers are spending more on fashion items as economic conditions improve in all major countries and income levels rise which is  predicted to have an impact on demand for custom printed clothes and other products. Transfer printing (on heat transfer paper) is a typical characteristic of personalized clothes and accessories; thus, changing fashion trends among youth and the growth of the accessories industry are likely to boost heat transfer paper market revenue growth. However, larger-scale clothing printing is not only costly, but also time intensive and fading of prints after multiple washing is a major concern for the textile and heat transfer paper industries. In addition, the stiffness of the prints makes the fabric firm. As a result, washing garments becomes tough. In some situations, ironing prints might harm them, making the clothes look unkempt. All these reasons are impeding the expansion of the heat transfer paper market.

Key Developments: 

In Jan 2022, Finland’s Ahlstrom launched EcoJet digital-transfer printing paper.

In May 2022, Avery Dennison Corporation announced the development of its manufacturing capacity by spending over US$ 63 Mn in Europe, which will aid the company to deal with the growing demand for its packaging and labels materials in Europe..