According to a new research report published by Allied Market Research, titled, “The global thermal paper market size was valued at $3.4 billion in 2021 and is expected to reach $5.7 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031. The thermal paper market is expected to continue growing at a steady pace, with projections indicating an increasing uptake across multiple regions. As industries continue to evolve and expand, manufacturers of thermal paper will need to stay innovative and adaptable, meeting the changing demands of a wide range of sectors.
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Increasing demand for thermal papers at the point of sale is primarily driving the demand for the thermal paper market. In addition, Improved government policies and increased domestic consumption of pharmaceutical, food & beverage products in the South Asian region are predicted to create a favorable business environment for thermal paper market growth. However, fluctuating prices of raw materials and the growth of paperless transactions are hindering the thermal paper market growth. Increasing demand from the printing and packaging industry will provide a lucrative opportunity for the thermal paper market.
On the other hand, the use of BPA in the thermal paper has a harmful effect on human health, which may hinder the growth of the market for thermal paper rolls in the near future. As a result, numerous businesses are implementing digital receipt software applications that are compatible with their existing POS systems, and they only print customer receipts upon request to reduce their thermal paper consumption. The introduction of breakthroughs in thermal transfer technology and other industries presents significant opportunities for expansion for the thermal paper business. In addition, a recent estimate from the U.S. Census Bureau indicates that supermarket and grocery store sales in 2019 exceeded $ 650 billion, which is more than three times the amount recorded a decade earlier. Such reports are viewed as the primary growth potential for the thermal paper sector as a whole.
The thermal paper market is segmented on the basis of printing technology, application and region. On the basis of printing technology, the market is categorized into direct thermal, thermal transfer and others. On the basis of application, the market is categorized into point of sale (POS), tags & labels, lottery & gaming, ticketing, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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Major players operating in the global thermal paper market:
1. Appvion
2. Domtar Corporation
3. Hansol Paper Co. Ltd.
4. Henan Province JiangHe Paper Co. Ltd.
5. Jujo Thermal Ltd
6. Kanzaki Specialty Papers Inc
7. Koehler Paper
8. Lecta, Mitsubishi Paper Mills Limited
9. Nakagawa Manufacturing (USA), Inc
10. Oji Holdings Corporation
11. Panda Paper Roll
12. Rotolificio Bergamasco Srl
13. Thermal Solutions International Inc.
15. Twin Rivers Paper Company.
Other players operating in the thermal paper market are Avery Dennison, Ricoh Company, Ltd., and Siam Paper.
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Key Market Insights:
1) The rise in consumer spending, coupled with growing food delivery services and retail operations, has escalated the need for thermal paper in printing receipts, order confirmations, and packaging labels.
2) Increased regulations in the pharmaceutical industry, emphasizing product traceability and quality assurance, has boosted the demand for thermal paper applications.
3) Sustainability trends are influencing the market as companies within the pharmaceutical and food & beverage industries seek eco-friendly options, pushing for the adoption of more sustainable thermal paper solutions.
To Segments:
By Application
Point of Sale
Tags and Label
Lottery and Gaming
Ticketing
Others
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By Printing Technology
Direct Thermal
Thermal Transfer
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