Thermal Paper Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Thermal Paper Market
The global thermal paper market size was valued at USD 3.45 billion in 2019 and is projected to USD 5.85 billion by 2027, exhibiting a CAGR of 6.9% during the forecast period of 2024-2032.
The sales and growth of the Thermal Paper Market were affected during the COVID-19 pandemic by limitations in enterprise operations and a decrease in buyer expenditure. However, the market slowly started gaining as the operations began, with the boost in the e-commerce segment, healthcare, and contactless payments hampering the thermal paper market growth.
The Thermal Paper Market is pulled by the rising demand for contactless payments, growth in retail and logistics industries, and rising thermal printing applications such as receipts, labels, and package tickets. Other factors enhancing the rise of the marketplace include advances in printers and the preference for environment-friendly answers.
Sustainability and environmental worries are using the thermal paper marketplace. Industrialists try to create non-BPA thermal paper to reduce health risks and environmental impact. Also, making thermal papers more recyclable and biodegradable serves the current push for using environmentally friendly products, thus increasing thermal paper market share worldwide. These tasks contribute to a more environmentally friendly and responsible thermal paper production and utilization method.
Comprehensive Analysis of Thermal Paper Market
The Thermal Paper Market is segmented based on width, printing technology, and alertness. In phrases of width, the three. A hundred twenty-five” (80 mm) segment holds the most significant share, pushed with the aid of excessive demand in POS terminals and lottery tickets. The 2.25"" (fifty-seven mm) segment also has a considerable market proportion, primarily used for labeling, ticketing, and card fee terminals. Regarding printing generation, the direct thermal segment dominates because of its price-effectiveness and convenience, in particular in retail and logistics. The thermal transfer section is expected to grow due to its capacity to print on numerous paper qualities with extra durability. By software, the point-of-sale (POS) phase leads the market, driven by the increasing deployment of POS terminals. Additionally, the scientific segment is anticipated to substantially increase with the rising use of patient wristbands and reports.
The Europe region led the thermal paper market by benefitting a size of USD 1.57 billion in 2019 due to the growing call for this paper in medical packages inside the vicinity; there is an enormous capacity for the market boom.
The leading players in the thermal paper market significantly impact its growth and establish industry standards. Key players such as Lecta (Spain), Hansol Paper (Korea), Appvion Operations, Inc. (USA), Domtar Corporation (USA), Ricoh Industrie France SAS (France), Mitsubishi Hi-Tech Paper (Germany), Koehler Paper Group (Germany), Kanzaki Specialty Papers, Inc. (USA), Jujo Thermal Ltd. (Finland), Oji Paper Co., Ltd. (Japan), Kanzan Spezialpapiere GmbH (Germany), Iconex LLC (UK), Telemark Diversified Graphics (USA), Panda Paper Roll (China), Nakagawa Manufacturing (USA), Suzhou Xiandai Paper Production Co., Ltd. (China), PG Paper Company Ltd. (UK), Thermal Paper China (China), Chenming Group (China), and Guangdong Guanhao High-Tech Co., Ltd. (China) contribute to a competitive landscape, driving innovation and market expansion. These companies are central to market dynamics, enhancing technological advancements and expanding the global reach of thermal paper products.
In July 2019, Lecta announced that it would supply the best BPA-free thermal paper within the European Union, in compliance with the ban set by the EU, effective January 2020.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Volume (Million Square Meter) and Value (USD Billion)
SegmentationBy Width
2.25” (57mm)
3.125” (80mm)
Others
By Printing Technologies
Direct Thermal
Thermal Transfer
Others
By Application
Point-of-Sale (POS)
Tags & Labels
Ticketing
Lottery & Gaming
Medical
Others
By Region
North America (U.S., and Canada)
Europe (Germany, UK, Italy, France, Spain, Benelux, Russia, and Rest of Europe)
Asia Pacific (China, India, Japan, Southeast Asia, Australia & New Zealand, and Rest of Asia Pacific)
Latin America (Mexico, Brazil, Argentina, Paraguay, and Rest of Latin America)
Middle East & Africa (South Africa, GCC, Northern Africa, and Rest of Middle East & Africa)
Please Note: It will take 5-6 business days to complete the report upon order confirmation.