According to a new market report published by Credence Research Inc “Printing Transfer Paper Market– Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” the global printing transfer paper market worldwide was valued at US$ 9,815.0 Mn in 2017 and is set to cross US$ 13,500.0 Mn by 2026, growing with a CAGR of 4.0% during the forecast from 2018 to 2026.
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The paper is widely used in transfer printing method and is regarded as one of the most convenient and cost-effective methods. Using printing transfer paper, wide range of customized products including t-shirts, sweat shirts, aprons, kitchen napkins, hats, caps, flags, banners and several others can be easily designed with minimal cost of production and relatively low skillset. With continually growing customized fabrics industry, printing technologies have gained tremendous prominence, thereby driving the demand for related printing materials (such as transfer paper). In addition, rising spending by consumer on customized and fashionable apparels is also expected to support the growth of printing transfer paper market.
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In 2017, the global printing transfer paper market was dominated by screen printing transfer paper segment accounting for over 35% of the total market value. This is primarily due to higher adoption of the technique as compared to other transfer printing techniques. Due to higher inclination towards cheaper techniques, the segment is estimated to retain its dominant share in the market throughout the forecast period. Screen printing transfer paper segment is followed by sublimation transfer papers. Despite higher cost, the segment growth is backed by the ability to provide permanent and quality design on fabrics. On the other hand, heat transfer paper segment is projected to register the highest growth in the market during the forecast period.
In 2017, Asia Pacific represented the largest printing transfer paper market worldwide. The market here is primarily backed by China, India and Southeast Asia having huge textiles industry. The trend shall prolong and the region is expected to retain its leading position, due to continually growing customized apparels and accessories market. The growth in the region is primarily influenced by rapid penetration of e-commerce sector and shifting trend towards customized fashionable apparels among consumers. Thus, region is also expected to witness fastest growth in the global printing transfer paper market throughout the forecast period.
Apparel, garment and accessories industry in North America and especially in the U.S. is considered as one of the largest globally. Almost two percent of the total workforce in the U.S. are employed in fashion and apparel industry as stated by SelectUSA, a service of the federal government. This has created tremendous opportunities for international as well as small players to claim their share in the North American custom apparels and accessories market. Continuously changing fashion trends and growing demand for printed apparel, mugs and personalized gifts has boosted the demand for transfer paper considerably and is expected to grow even further in the following years.
The global printing transfer paper market is highly fragmented in nature and characterized by low entry barriers. This, in turn, is encouraging new players to enter the printing transfer market, thereby intensifying competition. Some major players in the global printing transfer paper industry include Neenah, Inc., Shanghai Yesion Industrial Co., Ltd., Nanking Clover Transfer Paper Co. Ltd., E.T.S. Engineering Transfer System s.r.l., Nucoat, Inc, Hanrun Paper Industrial Co., Ltd, Cagdas Kagit, Texo Trade Services BV, Fuzhou Alizarin Coating Co., Ltd, Suzhou Aolide Co.,Ltd and Suntek Print Company Limited among others.
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Credence Research has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications have been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.