Pune, India, Feb. 28, 2023 (GLOBE NEWSWIRE) — The global
thermal paper market size
was USD 3.45 billion in 2019 and is projected to reach 5.85 billion by 2027, exhibiting a CAGR of 6.9% during the forecast period 2020-2027. Increasing applications of the product across diverse industry verticals will aid the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “
Thermal Paper Market Size, Share, Growth and Regional Forecast, 2020-2027
Thermal paper is a specialty paper that is usually coated with a material that helps the paper transform its color when subjected to heat. The increasing applications of thermal paper are attributable to the favorable properties of the product. It is widely used in applications that require quick and short print slips including ATMs and other places that print out receipts.
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The thermal paper market is a growing industry that involves the production and distribution of paper that is sensitive to heat. This type of paper is commonly used in applications such as printing receipts, tickets, labels, and other forms of information.
The scope of the thermal paper market is quite broad, as it has a range of applications across several industries such as retail, healthcare, logistics, banking, and entertainment. Thermal paper is an essential component in point-of-sale (POS) systems, barcode printing, and packaging, among others. It is used to print information that needs to be quickly generated, easily read, and often discarded, such as receipts or shipping labels.
The market for thermal paper is growing due to increased demand from emerging economies, technological advancements in printing technology, and the increasing need for sustainable paper products. The introduction of eco-friendly and recyclable thermal paper is expected to drive growth in the market.
Additionally, the demand for thermal paper is expected to increase due to the increasing use of mobile payment systems, which require printed receipts. The demand for thermal paper in the healthcare industry is also growing due to the increasing need for reliable and secure tracking and labeling of medical products.
The growing product applications, coupled with the massive investment in the development of efficient products, will ultimately emerge in favor of the growth of the market in the coming years. The product is inclusive of easily derivable compounds as well as the material available in abundance. The increasing investment in the research and development of efficient thermal paper will contribute to the growth of the overall market in the coming years. The presence of several large-scale companies will emerge in favor of market growth.
Report Scope & Segmentation:
|Forecast CAGR||6.9 %|
|2027 Value Projection||USD 5.85 Billion|
|Thermal Paper Market Size in 2019||USD 3.45 Billion|
|No. of Pages||210|
|Segments Covered||By Type, End-user and Regional Insights|
|Thermal Paper Industry Growth Drivers||Company Mergers are a Growing Trend Among Major Companies|
|Increasing Applications Across Diverse Industry Verticals to Aid Growth|
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List of companies profiled in the report:
- Lecta (Spain)
- Hansol Paper (Korea)
- Ricoh Industrie France SAS (France)
- Mitsubishi Hi-Tech Paper (Germany)
- Koehler Paper Group (Germany)
- Kanzaki Specialty Papers, Inc. (USA)
- Jujo Thermal Ltd. (Finland)
- Oji Paper Co., Ltd. (Japan)
- Kanzan Spezialpapiere GmbH (Germany)
- Iconex LLC (UK)
- Telemark Diversified Graphics (USA)
- Panda Paper Roll (China)
- Nakagawa Manufacturing (USA), Inc. (USA)
- PG Paper Company Ltd. (UK).
- Thermal Paper China (China)
- Other Key Players
There are several driving factors contributing to the growth of the thermal paper market:
Increasing use of POS systems:
The widespread adoption of point-of-sale (POS) systems in various industries, such as retail, hospitality, and healthcare, is driving the demand for thermal paper. These systems require high-quality thermal paper for printing receipts, tickets, and other transactional documents.
Growth in e-commerce:
The increasing popularity of e-commerce platforms is boosting the demand for thermal paper used in shipping labels and packaging. As more people shop online, there is an increasing need for accurate and reliable tracking and labeling of packages.
The development of advanced printing technologies, such as thermal transfer printing, is driving the growth of the thermal paper market. These technologies enable the printing of high-quality, durable images and text on thermal paper.
Increasing demand for convenience:
Thermal paper offers a quick and easy way to print information, making it an ideal choice for applications such as parking tickets, airline boarding passes, and event tickets. As more people seek convenience in their daily lives, the demand for thermal paper is expected to grow.
Demand for eco-friendly products:
The demand for eco-friendly products is driving the development of recyclable and biodegradable thermal paper. The use of sustainable materials in thermal paper production is becoming increasingly important as companies seek to reduce their environmental footprint.
Overall, the thermal paper market is expected to grow as more industries adopt advanced printing technologies and seek convenient and eco-friendly printing solutions.
Company Mergers Are Proving Beneficial for Existing Businesses
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Due to healthy market competition, several companies are looking to adopt strategies that will help them establish a strong position in the global market. It is observed that company mergers and collaborations are a growing trend among major businesses across the world. In February 2020, Koehler Paper Group announced that it has completed the acquisition of Beaver Paper and graphic Media Inc.
The company is a manufacturer of sublimation media; a product that is used widely in the digital printing industry. Through this acquisition, the company will look to combine the portfolio of both companies and improve the overall sales and distribution of sublimation media across the world. Koehler’s acquisition of Beaver will help the company establish a formidable position in the global market. Additionally, this acquisition will have a huge impact on the growth of the overall market in the coming years.
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The thermal paper market has a global reach, with several regions contributing to its growth. Here are some insights into the regional trends in the thermal paper market:
North America is one of the leading markets for thermal paper, with the United States being the largest contributor to the region’s growth. The growth in the region is driven by the increasing use of thermal paper in the retail, healthcare, and logistics industries.
Europe is another significant market for thermal paper, with Germany and France being the largest contributors to the region’s growth. The growth in the region is driven by the increasing demand for thermal paper in the packaging and labeling industries.
The Asia Pacific region is expected to be the fastest-growing market for thermal paper, driven by the increasing demand from emerging economies such as China and India. The growth in the region is driven by the increasing adoption of POS systems in the retail sector and the growth of e-commerce platforms.
The thermal paper market in Latin America is expected to grow steadily, driven by the increasing demand for thermal paper in the healthcare and retail sectors.
Middle East and Africa:
The Middle East and Africa region is expected to experience moderate growth in the thermal paper market due to the increasing adoption of thermal paper in the healthcare and transportation industries.
Overall, the thermal paper market is expected to grow across all regions, driven by the increasing demand for reliable and efficient printing solutions across various industries.
Browse Detailed Summary of Research Report with TOC:
Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Global Thermal Paper Market Analysis, Insights, and Forecast, 2016-2027
- Key Findings / Summary
Market Analysis, Insights, and Forecast – By Width
- 2.25” (57mm)
- 3.125” (80mm)
Market Analysis, Insights, and Forecast – By Printing Technology
- Direct Thermal
- Thermal Transfer
Market Analysis, Insights, and Forecast – By Application
- Point-of-Sale (POS)
- Tags & Labels
- Lottery & Gaming
Market Analysis, Insights, and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Content:
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