Thermal Printing Market Insights – Demand & Growth 2023-2033

A Complete Study of Thermal Printing in Korea from 2023 to 2033

The overall value for the adoption of thermal printing in Korea in 2023 is estimated to be USD 434.3 million. The demand for thermal printing in Korea is expected to develop at a 4.9% CAGR over the projected period. According to our forecasts, the net revenue generated from sales of thermal printers in the country is likely to reach up to USD 694.9 million by 2033.

Attributes	Details
Industry size of Korea in 2023	USD 434.3 million
Expected Industry Size of Korea by 2033	USD 694.9 million
Forecasted CAGR between 2023 to 2033	4.9%

Key Insights on the Thermal Printing Sector of Korea

• Thermal printers can use different colored ribbons to derive appropriate print look and lifespan that make them highly desirable in manufacturing industries of Korea.
• In 2018, thermal printer sales in Korea generated around USD 349.4 million in revenue, with a steady 4% annual increase in thermal printing usage between 2018 and 2022, resulting in a total of USD 414.5 million in 2022.
• Korea has a well-established technology infrastructure and a robust manufacturing ecosystem. This makes it an ideal environment for the growth of the thermal printing industry. Additionally, the country's strategic location in Asia provides access to key markets in the region.

Top Key Trends Influencing Demand for Thermal Printing in Korea

• Thermal printing technique provides a diverse selection of label stocks that are reliable even in extreme weather conditions in Korea. Therefore, the increasing volume of packaged consumer products in the country is projected to boost the demand for thermal printing in Korea.
• The success of thermal printing in Korea also largely depends on the availability of thermal printable paper in sufficient amounts at an affordable price. Due to recent scientific developments in paper technology, thermal paper companies in Korea are expected to produce goods with significantly better tolerance and longer lifespan.
• The retail industry is emerging as the prominent end user of thermal printing in Korea, since POS printers are designed to provide transaction receipts instantaneously. Additionally, thermal printers are more compact than portable desktop computers, which makes them more adaptable and convenient.

Category-wise insights

Printers with Thermal Transfer (TT) are Selling Higher in Korea

The transfer technology (TT) holds around 46.6% of the total revenue generated in Korea from thermal printer sales in 2023.

Thermal transfer (TT) technology is widely used in the medical field, as thermal printers are often employed to produce large and lengthy prints of electrocardiographs. With spending on projects to establish healthcare infrastructure growing in Korea, this segment is expected to see further growth in the coming days.

Thermal Printing in Korea based on Printing Technology	Thermal Transfer (TT) Technology
Total Share (2023)	46.6%

Barcode Printers Constitute the Leading Printer Type Segment in Korea

Barcode printers segment has been calculated to account for roughly 39% of the total sales in Korea in the year 2023.

The said category of thermal printers commands such a dominant position as the barcode printers are extremely versatile and can print on a wide range of materials. Further innovations to improve the capacity of barcode printers to print on polyesters, PTFE, Tyvek, and so on is anticipated to surge the share of this segment in Korea.

Thermal Printing in Korea based on Printer Type	Barcode Printers
Total Share (2023)	39.0%

Competitive Landscape

Given the existence of several industry players in Korea for the manufacturing of electronic gadgets and computer accessories, the thermal printing sector is highly competitive in the country. The development of new products to integrate mobile barcoding technology and electronic shelf labeling machines could be the key focus for manufacturers in Korea.

Recent Developments in Thermal Printing in Korea

• In May 2021, Fujifilm Corporation introduced its new thermal photo printer, the ASK-500, which features an easier supply replacement process compared to its earlier model, the ASK-300. The product also provides more flexibility in print sizes for users and is expected to create new business opportunities in Korea and some other countries.
• In May 2023, Domino Printing introduced the Vx Series printers designed for flexible food packaging lines. The new Vx Series printers include two versions of thermal transfer (TTO) coders that can print codes on bottles, films, wrapping paper, sachets, and stick packs. The printer is entirely electric and also reduces ribbon usage by up to 60% due to four print modes, while still providing high quality at up to 300 dpi. The company also claims the printer does not require compressed air, ultimately reducing power consumption and operational expenses.

Key Players for Thermal Printing in Korea

• Zebra Technologies Co., Ltd.
• Honeywell (formerly Datamax-O'Neil)
• Sato Corporation
• TSC Auto ID Technology Co., Ltd.
• Printronix Co., Ltd.
• Fujifilm Co., Ltd.
• BIXOLON Co., Ltd.
• Postek Electronics Co., Ltd.
• Citizen Systems
• Epson Korea
• Sam4S Korea
• Sewoo Electronics Co., Ltd.
• Star Micronics Co., Ltd.

Scope of the Report

Attribute	Details
Estimated Industry Size in 2023	USD 434.3 million
Projected Industry Size by 2033	USD 694.9 million
Anticipated CAGR between 2023 to 2033	4.9% CAGR
Historical Analysis of Demand for Thermal Printing in Korea	2018 to 2022
Demand Forecast for Thermal Printing in Korea	2023 to 2033
Report Coverage	Industry Size, Industry Trends, Analysis of key factors influencing Thermal Printing in Korea, Insights on Global Players and their Industry Strategy in Korea , Ecosystem Analysis of Local and Korea Providers
Key Companies Profiled	Zebra Technologies Co., Ltd.; Honeywell (formerly Datamax-O'Neil); Sato Corporation; TSC Auto ID Technology Co., Ltd.; Printronix Co., Ltd.; Fujifilm Co., Ltd; BIXOLON Co., Ltd.; Postek Electronics Co., Ltd.; Citizen Systems; Epson Korea; Sam4S Korea; Sewoo Electronics Co., Ltd.; Star Micronics Co., Ltd.
Key Provinces Analyzed while Studying Opportunities in Thermal Printing in Korea	South Gyeongsang, North Jeolla, South Jeolla, Jeju

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
• 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Printer Type
  • 5.1. Barcode Printers
  • 5.2. POS Printer
  • 5.3. Kiosk & Ticket Printer
  • 5.4. RFID Printers
  • 5.5. Card Printers
• 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Printing Technology
  • 6.1. Direct Thermal (DT)
  • 6.2. Thermal Transfer (TT)
  • 6.3. Dye Diffusion Thermal Transfer (D2T2)
• 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Format Type
  • 7.1. Industrial
  • 7.2. Desktop
  • 7.3. Mobile
• 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Industry
  • 8.1. Retail & Wholesale
  • 8.2. Transportation & Logistics
  • 8.3. Healthcare
  • 8.4. Travel and Hospitality
  • 8.5. Media & Entertainment
  • 8.6. Manufacturing
  • 8.7. Government
  • 8.8. Others
• 9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 9.1. South Gyeongsang
  • 9.2. North Jeolla
  • 9.3. South Jeolla
  • 9.4. Jeju
  • 9.5. Rest of Korea
• 10. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 11. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 12. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 13. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 14. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 15. Market Structure Analysis
• 16. Competition Analysis
  • 16.1. Mechatro, Inc
  • 16.2. Hwasung System
  • 16.3. J Stephen Lab Ltd
  • 16.4. Durico C And T Inc.
  • 16.5. NCR Corporation
  • 16.6. Honeywell International Inc.
  • 16.7. Zebra Technologies Corporation
  • 16.8. Fujitsu Limited
  • 16.9. HP Development Company, L.P.
  • 16.10. Toshiba Tec Corporation
  • 16.11. Brother Industries, Ltd.
  • 16.12. Star Micronics Co., Ltd.
  • 16.13. NEC Corporation
  • 16.14. Advantech Co., Ltd.
  • 16.15. SATO HOLDINGS CORPORATION
  • 16.16. BIXOLON CO., LTD.
  • 16.17. TSC Auto ID Technology Co. Ltd.
• 17. Assumptions & Acronyms Used
• 18. Research Methodology