- The Furniture market is anticipated to be the largest user of heat transfer films.
- Some of the features of heat transfer films such as efficiency and effectiveness are driving the market.
- Asia-Pacific metal market recorded a maximum percentage of demand for heat transfer films market.
The global metal industry market is expected to expand at a CAGR of around 4% during FY16-FY24. The construction market, which has emerged as the largest application segment, is expected to grow at 6.3% CAGR during this phase, while textile industry is estimated to grow at over 4%% CAGR. With these growth rates and increasing demands, heat transfer films market is expected to grow at over 5% CAGR as per the projected report. The Furniture market, which is estimated to witness fastest growth at 7.1% CAGR, is anticipated to be the largest user of heat transfer films.
Innovation and technology are the driving forces that have transformed the current lifestyle. New products are being developed to help ease the life further. Heat transfer films are helping the consumers survive adverse climatic conditions. Over the years, the use of technology has transformed the heat transfer films, which are now available in different types, with varied features, to address the requirements. Some of the features of heat transfer films such as efficiency and effectiveness are driving the global heat transfer films market.
Heat transfer films find application in textile and industrial goods. Increasing demand of the finished products and features such as color resistance, scrub resistance, scratch resistance, high temperature resistance, solvent resistance and low-cost are driving the application of heat transfer films.
Geographically, Asia-Pacific metal market recorded a maximum percentage of demand for heat transfer films market. Heat transfer films market is expected to be driven by the development in the economy and growth of end-user industries such as textile and construction. High demand for metal and increase in textile application are driving the heat transfer films market in Europe and North America. In the Asia Pacific region, India and China are expected to drive the heat transfer films market, growing at an impressive CAGR of over 7%, followed by Europe, North America.
Some of the key players in the heat transfer films market are Hanse Corporation, Top Alliance International Shareholds Limited, Highviz Reflective, Taizhou Warmtry Yeguangming Industrial Co. Ltd., Taizhou Lianqi Printing Packing Co. Ltd., Chengdu CECEP Reflective Material Co. Ltd., Nanjing Hanrun Transfer Paper Co. Ltd., Hung Sen Fuh Enterprise Pvt Ltd. and Jiaozuo Zhuoya Arts Film Technology Co. Ltd.
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