The textile transfer paper market revenue totaled $632.1 Million in 2020, according to the latest insights from Future Market Insights (FMI). The overall textile transfer paper market is expected to reach US$ 1,292.8 Million by 2031, growing at a CAGR of 6.4% for 2021-31.
With the rise in purchase power among consumers across the globe, there has been a significant increase in the demand for premium quality textiles. Out of the other methods like direct printing and thermal transfer printing, the dye sublimation textile transfer printing offers superior quality print and enhanced durability.
Dye sublimation textile transfer papers are widely used in the digital printing of items like apparel, home textiles and soft signage. Due to the ease in availability and comparatively economical thermal transfer printing process, most of the manufacturers still use it over the dye sublimation printing process.
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Textile printed with thermal transfer printing are less durable and the print quality is degraded by several factors like repeated washing or heat among others. Contrary to this, dye sublimation transfer printing is not only resistant to these factors, but is more durable and superior in quality.
As result manufacturers are showing greater preference for dye sublimation transfer printing process to fulfil the growing demand for premium quality textiles. The growing preference of manufacturers towards dye sublimation textile transfer printing over traditional thermal transfer printing is anticipated to augment the demand for the target product.
Key Takeaways from Textile Transfer Paper Market
“Textile transfer paper offer benefits such as enhanced durability with decreased drying time, besides a wide range of color pallets. As a result, has become highly sought-after among manufacturers within the textile printing industry,” says FMI analyst.
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Consumers tend to prefer textiles with dye sublimation transfer printing for the impressive durability and vivid designs offered by the technology. These factors are anticipated to be a foundation for elevating the demand for textile transfer paper in the market.
Manufacturers in the textile transfer paper industry are consistently making efforts to capture this elevated demand by expanding their product portfolio, manufacturing capabilities and strategic partnerships.
Demand for Customization to Shape Textile Transfer Paper Market
Dye sublimation transfer printing process is very precise and it is very important to use papers with exact specifications in terms of thickness (GSM), paper type, and product type for high-quality print.
Manufacturers are looking for technologies that will help them provide a perfect combination of all three aspects as per the customer requirement to gain maximum market share. As dye sublimation transfer printing process is comparatively costlier than other alternatives, customers are very cautious regarding the quality of the papers.
There is also high demand for customization of paper rolls in terms of lengths and width of the roll as the consumer has to additionally invest time and money for trimming the rolls to meet their requirements. There are not many manufacturers equipped with providing a wide range of specification creating a huge opportunity for players to enhance their product offerings and attracts more number of customers.
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Impact of COVID-19 on Textile Transfer Paper Market
Negative repercussions of the COVID-19 pandemic were severe on the textile transfer paper market. There are many factors that affected market growth. Restrictions on logistics and manpower in the manufacturing sector are among primary reasons that hampered the supply of the product in the market.
Furthermore, the demand from end users such as fashion, sportswear, home textiles, and soft signage segments suffered a major blow due to the pandemic. The countrywide lockdown imposed by many nations resulted in decreasing the demand for non-essential items.
Demand and supply for textile transfer paper was considerably hampered in the year 2020. However, with ongoing ease on restriction and lifting of lockdowns across the globe the first quarter of 2021 showed positive signs of rapid recovery for the target market. The market for textile transfer paper is projected to expand at an even higher growth rate during the forecast period compared to the period before the COVID-19 pandemic.
Textile Transfer Paper Market Landscape
Hansol Paper Co., Ltd., Sappi Limited, Guangdong Guanhao High-tech Co., Ltd. are the top players operating in the textile transfer paper market. Furthermore, Neenah Coldenhove Holding B.V., and Felix Schoeller Group, NanJing Hanrun Paper Industrial Co., Limited and Kaspar Papir are also some of the noticeable players in the textile transfer paper market. The Tier 3 players in the market hold 55-65% in the global textile transfer paper market. In conclusion, key players contribute almost 35-45% of the global market.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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