In recent years, the thermal paper market size has shown strong signs of growth, increasing from $4.74 billion in 2024 to an expected $5.16 billion in 2025, at a compound annual growth rate (CAGR) of 8.7%. The uptrend during the historic period is due to a growth in the banking and financial services, logistics and transportation sector, rising demand from the healthcare industry, government initiatives for digital receipts, easing of label printing, and the environmental and cost benefits associated with thermal paper.
The market is expected to continue its growth trajectory over the next few years, projected to reach $7.3 billion by 2029 at a CAGR of 9.1%. Expanding smart packaging, the rise of contactless payment systems, growing demand in emerging economies, the shift towards sustainable thermal paper, and customization and branding needs contribute to this positive forecast. Major trends fueling this growth include advancements in printing technologies, increasing use of BPA-free thermal papers, custom and specialty thermal papers, growing applications in retail and POS systems, and collaborations and partnerships.
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What drives the growth of the thermal paper market?
Essential to the growth of the thermal paper market is the escalating demand for sustainable labeling practices, particularly within the e-commerce and logistics industries. As demand for sustainable labeling standards intensifies, the industry is likely to shift to more environmentally-friendly solutions like recycled direct thermal papers. For instance, a FATitudes survey conducted in 2021 by Cargill Incorporated showed that over half (55%) of worldwide customers are more likely to purchase food packaged with a sustainability label. Among the 550 American respondents, 37% claimed a sustainability claim can affect their purchasing decisions, a rise of six percentage points from 2019. The increasing preference for sustainable labeling practices is hence likely to drive the expansion of the thermal paper market in future years.
Which are the main segments in the thermal paper market?
The thermal paper market covered in this report can be segmented into:
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 Applications
5) By End User: Retail Industry, Healthcare, Packaging And Labelling, Printing And Publishing, Entertainment And Transit, Other End Users
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Who are the prominent players in the global thermal paper market?
Companies at the forefront of the thermal paper market include 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, and Papierfabrik Wattens GmbH & Co. KG, to name a few.
What are the latest trends in the thermal paper market?
In keeping with market trends, key players in the thermal paper market have been concentrating on creating technologically advanced products. For instance, in August 2022, VFP Ink Technologies introduced 1470579 Blue Clean 70 g/m2, a new chemical-free thermal paper suitable as a food-contact adhesive material. It can be printed on general direct thermal printers, it is developer-free, and the thermal paper features a protective layer against mechanical damage. This new product indicates how the industry is driving toward greater innovation in functions and offerings.
Which region leads the thermal paper market?
Asia-Pacific leads the global thermal paper market, closely followed by regions like Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
How is the thermal paper market defined in the report?
Thermal paper is a cost-effective printing process that necessitates low energy usage and minimal maintenance costs. It is a special type of paper with a coating that enables inkless printing. Thermal paper is a vital component of thermal paper printing, often used in lightweight devices like adding machines, cash registers, and credit card terminals. As a detailed review of the global market landscape, The Thermal Paper Market research report from The Business Research Company presents a wealth of data on market size, growth rate, regional shares, competitor analysis, comprehensive segments, trends, and opportunities.
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