Market Overview

The thermal paper market will touch the figure USD 4,391.0 million at a 4.87% CAGR between the forecast period 2016- 2023, states the recent Market Research Future (MRFR) analysis. Thermal paper is made with a specialty coating that allows inkless printing. This coating will blacken when it is exposed to heat and in turn, will transfer the image on paper.

Various factors are propelling the global thermal paper market share. According to the recent MRFR report, such factors include the growing point of sale terminal utility in services for labeling and billing, increasing product utilization in the food and beverage industry, need for POS supply solutions, product utilization, increasing acceptance in billing operations as this offers the ability of printing efficiently and fast, use in paper receipts, print precision and durability offered by thermal papers make it simple to read the barcode, and advances in thermal transfer technology.

On the contrary, price increase, concerns about BPA toxic levels, and the on-going COVID-19 impact may limit the global thermal paper market growth over the forecast period.

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Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global thermal paper market based on application and technology.

By technology, the thermal paper market is segmented into thermal transfer, direct thermal, and others. Of these, the direct thermal segment will lead the market over the forecast period for the different features such as high graphics capability, noise reduction, and good mobility.

By application, the global thermal paper market is segmented into labels and tags, lottery and gaming, POS, and others. Of these, the POS segment will dominate the market over the forecast period. The growing retail industry in China and India, coupled with the emergence of new supermarkets and hypermarkets, are adding to the growth of the segment.

Regional Analysis

By region, the thermal paper market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America is predicted to spearhead the market over the forecast period. The growing need of POS thermal receipts, rapid advances in manufacturing approaches and equipment, increasing R&D activities, the presence of well-established retail sector, rising trends for instant billing in malls and shopping centers, and labeling and tagging operations for goods in industries are adding to the global thermal paper market growth in the region.

In Europe, the thermal paper market is predicted to have the second-largest share over the forecast period for the booming food & beverage sector.

In the APAC region, the thermal paper market is predicted to have a healthy growth over the forecast period. Developing printing and packaging industries, increase in supermarkets and retail outlets in Saudi Arabia, India, and China, increasing consumption of tags, consumer product labels, and receipts, demand for high-quality paper, changing economic dynamics, increasing manufacturing and import in India, and increasing imports of thermal paper in South Korea are adding to the global thermal paper market growth in the region.

In the RoW, the thermal paper market is predicted to have sound growth over the forecast period.

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Key Players

Key players profiled in the global thermal paper market report include Rotolificio Bergamasco SRL (Italy), Gold Huasheng Paper (Suzhou Industrial Park) CO., Ltd Inc. (China), Jujo Thermal Ltd. (Finland), NAKAGAWA Manufacturing (USA), Inc. (US), Hansol (South Korea), MITSUBISHI PAPER MILLS LIMITED (Japan), KOEHLER GROUP (Germany), Appvion Operations, Inc. (the US), Oji Holdings Corporation (Japan), and Ricoh (Japan).

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