Overview and Scope
The thermal paper refer to one of the most cost-effective printing processes due to their low energy usage and minimal maintenance costs. Thermal paper is a particular type of paper that has a specific coating that allows for inkless printing. Thermal paper is a crucial component of thermal paper printing. It is used in thermal printers or lightweight devices such as adding machines, cash registers, and credit card terminals.
Sizing and Forecast
The thermal paper market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to growth of banking and financial services, logistics and transportation sector growth, healthcare industry demand, government initiatives for digital receipts, convenience in label printing, environmental and cost considerations..
The thermal paper market size is expected to see strong growth in the next few years. It will grow to $6.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to expansion of smart packaging, rise of contactless payment systems, demand in emerging economies, shift towards sustainable thermal pape, customization and branding needs.. Major trends in the forecast period include advancements in printing technologies, increasing use of bpa-free thermal papers, customization and specialty thermal papers, growing retail and point-of-sale (pos) applications, collaborations and partnerships..
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Segmentation & Regional Insights
The thermal paper market covered in this report is segmented –
1) By Type: Top Coated, Non-Top Coated
2) By Technology: Direct Thermal, Thermal Transfer, Other Technologies
3) By Thickness: 60-80 Microns, 80-90 Microns
4) By Application: POS Receipts, Lottery and Gaming Tickets, Labels and Tags, Other Apllications
5) By End User: Retail Industry, Healthcare, Packaging and Labelling, Printing and Publishing, Entertainment and Transit, Other End Users
Asia-Pacific was the largest region in the thermal paper market in 2023. The regions covered in the thermal paper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The demand for sustainable labelling practices is driving the growth of the thermal paper market. Sustainable direct thermal solutions are in high demand in the e-commerce and logistics industries. The industry is projected to move toward more renewing methods with recycled direct thermal papers as demand for sustainable labeling standards grows. For instance, in February 2022, according to the FATitudes survey conducted in 2021 among approximately 6,000 primary grocery shoppers in 11 countries by Cargill Incorporated, a US-based food corporation, more than half (55%) of customers worldwide are more likely to buy a packaged food item that is labelled with a sustainability label promise. 37 percent of the 550 Americans who took part in the survey claimed that a sustainability claim will affect their purchasing decisions, which is a six-point rise from 2019. Therefore, the demand for sustainable labelling practices is expected to propel the growth of the thermal paper market over the coming years.
Key Industry Players
Major companies operating in the thermal paper market report are Ricoh Corporation, Oji Holdings Corporation, Appvion InCorporated, Jujo Thermal Limited, Lecta Group, Koehler Paper Group, Mitsubishi HiTec Paper Europe GmbH, Hansol Europe BV, Gold HuaSheng Paper Company Limited, Papierfabrik Wattens GmbH & Co. KG, Henan Province JiangHe Paper Company Limited, Thermal Solutions International Inc., Rotolificio BergamasCo. Srl, PM Company LLC, Nakagawa Manufacturing Co. Ltd., Siam Paper Co. Ltd., Nantong Xiujun Imp.& Exp.Co. Ltd., Zhejiang Youcheng New Materials Co. Ltd., Shanxi Oceano Paper Co. Ltd., Tianjin Jinlida Paper Co. Ltd., Jiangsu Guoli Science & Technology Co. Ltd., Xiandai Paper Co. Ltd., PapiCo. Ltd., Guofeng Fine Paper Co. Ltd., RP Paper Impex Pvt. Ltd., Apex Paper International Inc., Stellar Paper Products Private Limited, Daio Paper Corporation, TOPPAN PRINTING COMPANY Ltd., Canon Inc.
The thermal paper market report table of contents includes:
1. Executive Summary
2. Thermal Paper Market Characteristics
3. Thermal Paper Market Trends And Strategies
4. Thermal Paper Market – Macro Economic Scenario
5. Global Thermal Paper Market Size and Growth
….
31. Thermal Paper Market Other Major And Innovative Companies
32. Global Thermal Paper Market Competitive Benchmarking
33. Global Thermal Paper Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Thermal Paper Market
35. Thermal Paper Market Future Outlook and Potential Analysis
36. Appendix
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