Thermal Paper Market By Printing Technology (Direct Thermal, Thermal Transfer, Others), By Application (Point of Sale, Tags and Label, Lottery and Gaming, Ticketing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Thermal Paper Market By Printing Technology (Direct Thermal, Thermal Transfer, Others), By Application (Point of Sale, Tags and Label, Lottery and Gaming, Ticketing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The thermal paper market was valued at $3.4 billion in 2021 and is projected to reach $5.7 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

Thermal paper is a sort of specialized paper that changes color when heated and prints without the need for traditional ink. The effect is achieved by covering the base paper with a mixture of heat-sensitive dyes and color-developers during the production process. A Leuco dye consists of a colorless crystalline powder that, when heated, melts and combines with an organic acid, also known as a developer, to produce an opaque hue. Bisphenol-A (BPA) or Bisphenol-S (BPS) are the most often utilized developers. This paper is utilized largely in credit card terminals, point-of-sale (POS) terminals, labeling devices, and ATMs. The absence of traditional inks enables printing on this type of paper in remote areas, making it an exciting choice for e-commerce labeling and ticketing applications. The thermal paper offers the benefit of requiring essentially no maintenance; there is no need to frequently replace expensive ink or toner. The only required maintenance is routine cleaning of the printer head. Repairs are required infrequently, which further reduces the cost of upkeep. Compared to other types of printers, an inkless thermal paper printer has very few moving parts, making it exceedingly unlikely to clog. This leads to substantial cost reductions due to decreased maintenance expenses. Coreless thermal paper rolls, for example, offer substantial advantages to organizations. Due to the advantages thermal paper offers, including lower production and shipping costs and environmental friendliness, an increasing number of organizations are moving to use thermal paper.

The increasing usage of POS terminals in warehouses and retail outlets is anticipated to fuel the need for thermal paper. As a result of improved government policies and increased domestic demand for pharmaceutical and food and beverage products in South Asian nations, a favorable business climate is anticipated to drive market expansion. The presence of paper makers in nations, such as China is also anticipated to contribute positively to market expansion. However, due to the rising digitalization of the transaction process, the need for printing at POS terminals is predicted to decrease, resulting in a slower growth rate for the industry. In addition, innovation in terms of internal replacement is anticipated to hamper the industry expansion. However, the increasing use of e-commerce is anticipated to increase the demand for thermal paper in the form of labels and tags. The expansion of retail businesses and chains in developing economies such as India and China is anticipated to have a beneficial effect on the adoption of POS terminals, hence boosting market growth. In addition, government activities focused on bolstering the food and pharmaceutical industries in emerging economies are anticipated to increase the usage of thermal paper in packaging and labeling applications. In retail establishments and businesses, marketing methods are evolving. Thermal papers are extensively used for thermal barcode printing, which enables the product to be monitored throughout transportation and thereafter. This aspect enables the product manufacturer to direct his operations based on geography and customer preferences. These characteristics present lucrative potential growth opportunities for the thermal paper market.

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 & label, lottery & gaming, ticketing, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Major players operating in the global thermal paper market are Appvion, Domtar Corporation, Hansol Paper Co. Ltd., Henan Province JiangHe Paper Co. Ltd., Jujo Thermal Ltd, Kanzaki Specialty Papers Inc, Koehler Paper, Lecta, Mitsubishi Paper Mills Limited, Nakagawa Manufacturing (USA), Inc, Oji Holdings Corporation, Panda Paper Roll, Rotolificio Bergamasco Srl, Thermal Solutions International Inc., and Twin Rivers Paper Company. Other players operating in the thermal paper market are Avery Dennison, Ricoh Company, Ltd., and Siam Paper.

IMPACT OF COVID-19 ON THE GLOBAL THERMAL PAPER MARKET

Most global businesses have been adversely impacted by the COVID-19 pandemic. To reduce risks and remain competitive during the pandemic, corporations are concentrating on diversifying their company. The paper sector has also been damaged by COVID-19. Malls, shopping centers, and other businesses have to shut down as a result of partial or whole lockdowns imposed by governments globally as a result of the rapid spread of COVID-19, among various nations. The market for thermal paper has expanded as a result of the expanding instant billing trend in malls and shopping centers. Prior to the COVID-19 pandemic, this market had been on the decline.
Nonetheless, demand in the pharmaceutical industries, healthcare sectors, and packaging sectors grew fast during the pandemic, resulting in an increase in the thermal paper market value.
Due to the rise in emergency situations and COVID-19 cases globally, the demand for labels and tags for medical supplies and test samples increased.
Throughout the pandemic, the quantity of laboratory test samples, which are necessary for discriminating between blood samples, grew, which in turn increased the demand for labelling. These attributes were considered to be the key market growth drivers for thermal paper.
Due to the expansion of the retail sector in developing nations like China and India, the POS category has the biggest market share. In addition, the rising number of supermarkets in advanced economies is anticipated to accelerate the development of POS terminal applications. Many nations are still in lockdown as a result of COVID-19, and businesses are coming up with new strategies to accommodate the rising demand for e-commerce. The pandemic has benefited the e-commerce sector since it has necessitated the implementation of preventative measures like social segregation. The market expansion for thermal paper is hampered by these digital transactions.
Due to its great durability, thermal paper is being used more frequently to print transaction receipts, which is driving the market. The hospital billing application makes extensive use of these receipts. Nevertheless, online transactions are preferable to prevent the virus from spreading.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the thermal paper market analysis from 2021 to 2031 to identify the prevailing thermal paper market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the thermal paper market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global thermal paper market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Application

Point of Sale
Tags and Label
Lottery and Gaming
Ticketing
Others

By Printing Technology

Direct Thermal
Thermal Transfer
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA

Key Market Players

Hansol Paper Co. Ltd.
Henan Province JiangHe Paper Co. Ltd.
Jujo Thermal Ltd
Kanzaki Specialty Papers Inc
Koehler Paper
Lecta
Appvion, Domtar Corporation
Mitsubishi Paper Mills Limited
Nakagawa Manufacturing
Oji Holdings Corporation
Panda Paper Roll
Rotolificio Bergamasco Srl
Thermal Solutions International Inc.
Twin Rivers Paper Company

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