The latest Thermal Paper Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Thermal Paper Market is valued at approximately USD 3.85 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2022-2029.
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Thermal paper is a specific kind of paper that changes color when heated and prints information without using any traditional ink. During the manufacturing process, a mixture of heat-sensitive dyes and color-developers is coated onto the base paper to create the desired effect. Leuco dyes, organic acid developers, and sensitizers are some of these substances. Leuco dye is composed of a colourless, crystalline powder that melts in the presence of heat and reacts with an organic acid, often referred to as a developer, to produce an opaque hue. BPA or Bisphenol-S are the two most often utilized developers (BPS). POS terminals, ATMs, credit card terminals, and labelling equipment are where this paper is most frequently used.
This sort of paper is appealing for use in e-commerce labels and ticketing applications because regular ink cannot be used to print on it at remote locations. The market demand is primarily driven by the factors such as Thermal printing technology ,becoming increasingly popular due to its ease of use, low cost, and high-speed printing capabilities. As a result, there is a growing demand for thermal paper to support this technology, coupled with the development of environmentally friendly alternatives to thermal paper, such as BPA-free paper, which is also driving the market. Many companies are now seeking to reduce their carbon footprint and are looking for sustainable alternatives to traditional thermal paper.
In addition, the increasing adoption of point-of-sale (POS) systems in retail and hospitality industries are driving the demand for thermal paper. Thermal paper is commonly used to print receipts, making it an essential component of POS systems are acting as major driving factors for market growth. In 2023, it is expected that the transaction value in the Mobile POS Payments segment will reach US$3.35 trillion. The predicted annual growth rate for transaction value (CAGR 2023-2027) is 13.92%. By 2027, there will expected be 1.94 billion users worldwide, thus, in turn, these factors are expected to escalate the demand for vaccines in the global market. Furthermore, there is a growing trend towards personalized and customized printing, such as printing logos or designs on receipts, tickets, and labels, as well as thermal paper is widely used in retail, hospitality, and healthcare industries, and there are opportunities to expand into new industries such as transportation, logistics, and manufacturing are presenting lucrative opportunities for market growth over the forthcoming years. However, the acceptance of the thermal paper is threatened by the growth of online and paperless e-transactions which is restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Thermal Paper Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the growth of retail chains in the area as a result of consumers’ increasing appetite for readily available consumer items. Also, the region’s expanding industrial activity has increased demand for thermal paper labelling end-use. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as increasing usage of thermal paper in the region for a variety of end purposes, including the gaming industry and supplement packaging and labelling are burgeoning the market growth in the forecasting years.
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Major market players included in this report are:
Ricoh Company Ltd.
Oji Holdings Corporation
Appvion Inc
Koehler Group
Mitsubishi Paper Mills Limited
Hansol Paper Co. Ltd.
Gold Huasheng Paper Co. Ltd.
Henan Province JiangHe Paper Co. Ltd.
Thermal Solutions International Inc.
Jujo Thermal Limited
Recent Developments in the Market:
In February 2022, Ricoh Corporation, Ltd. announced the acquisition of Axon Ivy and its acclaimed digital process automation technology. Customers of Axon Ivy will have immediate access to Ricoh’s expansive range of digital services capabilities, which are designed to offer a seamless digital workplace experience and enable enterprises in achieving new technological advancements, improved security, and increased sustainability.
In September 2021, Jujo Thermal Ltd. introduces three new SHIELDPLUS grades geared for flexible food packaging. A revolutionary fiber-based recyclable barrier material designed for flexible packaging is called SHIELDPLUS®. For the packaging of dry, moist, and fatty foods, the new product grades SHIELDPLUS® Graphic 65, SHIELDPLUS® BR 60, and SHIELDPLUS® 58 offer a sustainable option. Excellent barrier qualities are provided by SHIELDPLUS® to safeguard the contents and preserve their quality.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Application:
POS
Tags & Label
Lottery & Gaming
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
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Some Questions Answered in the Thermal Paper Market Report:
- What is the projected size of the global Thermal Paper market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Thermal Paper industry?
- What are the major market trends that are affecting the expansion of the Thermal Paper market?
- What obstacles must be overcome in order to achieve sustained growth in the Thermal Paper market?
- What opportunities and threats do vendors in the global Thermal Paper market face?
- What are the raw materials and manufacturing equipment used in the production of Thermal Paper, and what is the manufacturing process?
- What are the different types and applications of Thermal Paper, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Thermal Paper market?
- What factors are driving the growth of the Thermal Paper market in the top regions worldwide?
- Who are the major players in the global Thermal Paper market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Thermal Paper market?
- What are the main findings of a five forces analysis of the global Thermal Paper market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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