Global Thermal Paper Market Is Expected To Grow At A CAGR Of 5.55% During The Forecast Period

Market Research Future (MRFR) has published a cooked research report on the “Thermal Paper Market” that contains the information from 2022 to 2030.

Global Thermal Paper Market Research Report

Thermal paper is a thin, high-resistance thermal medium that changes color when heated by a thermal printer. Its purpose is to provide an easy-to-read thermometer for healthcare professionals, chefs, bartenders, and other food service professionals. Thermal paper is often used with a liquid or paste that changes color as it cooks or roasts. The paper changes color to reflect a temperature change over time, making it easier to read.

Market Synopsis

The Global Thermal Paper Market was valued at USD 4.32 billion in 2021; it is expected to reach USD 7.02 billion in 2030, growing at 5.55% CAGR.

The market for the thermal paper market is driven by the growth in packaged food & retail industries. Packaged food & retail is the largest end-user of thermal paper. This can be attributed to the increasing demand for thermal printing from the packaging and food industries. The retail industry is increasingly adopting thermal printers to print coupons and flyers. The food industry is also going thermal to print nutrition labels and product packaging. The thermal paper market is growing rapidly, thanks to the increasing demand for labelling in verticals such as automotive, healthcare, and pharmaceuticals. Another factor driving the market is the use of thermal paper as a medium for printing educational and training materials, which is gaining popularity in various educational institutions. Furthermore, there is an increase in demand for thermal paper across various industries, especially in the healthcare vertical.

The market for thermal papers like thermal label papers, thermal receipt papers, thermal ticket papers, thermal fax papers, and thermal letter papers is growing rapidly all over the world. This is because thermal papers are increasingly being used in industries like health, food, and beverage, automotive, electronics, petrochemicals, packaging, automotive, garments, home appliances, retail, and others. The utmost growth is expected in the health, food, and beverage industry.

Like most industries, the Packaging & transport industry got affected by the emergence of COVID-19. In the first few months of the pandemic, the growth of the Packaging & transport industry slumped, characterized by declining revenues and disruption of the supply chain and manufacturing facilities operating with a partial workforce in their production line. however, accelerated the key mobility value chain trends that were still in the pipeline before the emergence of the pandemic. The industrial Packaging & transport industry is expected to be more advanced, connected, and digital in the coming years. The players operating in the industry are working on pragmatic plans focused on cash flows, debt levels, and critical operations.

Competitive Landscape

The Global Thermal Paper Market is characterized by the presence of many regional and local vendors. The global market is highly competitive, with all the players competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

Ricoh company ltd, Oji holdings corporation, Jujo thermal ltd, Mitsubishi paper mills ltd, Hansol paper co. Ltd, Thermal solutions international, inc, Appvion operations, inc, and Koehler paper are the major players in the market, competing in terms of a variety of applications for the Global Thermal Paper Market and their components, as well as efficiency, reliability, affordability, and advanced technology. The primary focus of the players is to provide advanced products to aid in increasing adoption, which could help strengthen a country's growth with advanced products.

Segmentation

Based on Technology

• Direct Thermal: Direct thermal paper is a special type of thermal paper that does not require any ribbon or ink. The image on the paper is produced by heat and pressure alone, for example when it passes between a heated print head and a felt-covered platen. This technology is used in many applications, such as cash register receipts, cassette tapes postage meter printing, and boarding passes.


• Thermal Transfer: Thermal transfer is a family of technologies for printing onto materials, especially paper and plastic. The most commonly used thermal transfer printing process is a pyro-coating process in which heat from an underlying layer or pattern causes energy to be transferred by conduction through a thin top layer of ink to the receiving material, which then reacts with the environment and solidifies into a bonded coating.

Based on Application

• POS: A POS is a place at which a customer pays for a product or service and may select the appropriate tax rates. A POS transaction may occur in-person or online, with receipts being generated either printed or electronically. The cloud-based systems among merchants are becoming increasingly popular.


• Lottery & Gaming: The use of thermal paper has been used in a variety of industries for years. When it comes to lotteries, the use of this paper is crucial as it allows for a more secure way to print and sell tickets. By printing the numbers on this paper, it can be seen in black and white while being hidden from being photocopied. Another industry that uses thermal paper is casino gaming.


• Labels & Tags: Labels and tags are essential products in any industry. Since they're used as a means of identification, they must be printed clearly and legibly. Thermal paper has been around for decades, providing businesses with the quality labeling products they need.


• Others: The other application of thermal paper includes the baby good and pouches, notebook and files, receipts, packaging & printing of food and dairy, newspapers, and magazines.

Based on End Use Industry

• Packaging & Labelling: Thermal paper is used in packaging and labeling to print barcodes, tags, labels, and receipts. It is being used in a wide range of applications including POS (Point Of Sale) printers and cash registers, label printers, ticketing machines, and time & attendance systems.


• Printing: Printing is a process of creating a visual image on paper from the combination of text and pictures, using a printing press. Printing presses are generally used for producing multiple copies of a publication, although there are devices that can print only one copy.


• Retail: Thermal paper has several applications in various industries, but it is most commonly used in retail applications like labels, receipts, and tickets. The increase in the demand for high-quality thermal receipt printing machines and continuous growth in the use of thermal paper for retail applications have led to an upsurge in the global market for thermal paper.


• Others: Thermal paper is changing the way the world functions. It's used by transportation, stationery, postal services, and many other industries for a variety of purposes.

Based on Region

• North America The North American region is expected to witness the highest growth in the thermal paper market due to the increasing number of manufacturing industries and expansion of retail industries in the region. The population throughout the region is expected to rise due to the increasing rate of birth and the government's growing focus on a healthier environment. The availability of thermal paper at a lower cost is expected to fuel the demand for thermal paper across the region.


• Europe The Europe region holds a significant market share in the thermal paper market, due to the robust growth of the retail and commercial industry and the presence of several end-use industries. The region also houses several key players, and this is likely to hold the region in a dominant position in the coming years. The Europe region holds a significant market share in the thermal paper market due to the rise in demand for thermal paper in the European healthcare sector.


• Asia Pacific Thermal paper in the Asia Pacific is expected to grow over the next few years. This rapid growth can be attributed to several factors. The Asia Pacific region is a hub of technological growth, especially in the consumer products sector and energy & utility sector. This has led to a demand for more applications of thermal paper, such as retail tags, e-receipts, and tickets. The region's large consumer base and strong consumer product manufacturing industry have provided an ideal environment for the growth of thermal paper.


• Rest of the World Regions including Brazil, Argentina, and the Rest of South America are also anticipated to witness growth in the Market of Thermal Paper. The South American region has a thriving and flourishing retail market. The demand for thermal paper is on the rise and this material is used in a wide range of applications. Supermarkets, and retail outlets all use thermal paper in the form of receipts, tickets, and labels. Also, the Middle East and Africa is the fastest-growing region in the thermal paper market due to the high product demand as a result of an increasing number of retail outlets, shopping malls, and ATMs.