Thermal Paper Market Research Report - Global Forecast till 2027

Thermal Paper Market: Information by Technology (Direct Thermal, Thermal Transfer, and Others), Application (Point-Of-Sale (POS), Lottery & Gaming, Labels & Tags, and Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2027

ID: MRFR/PNT/0378-CR | October 2020 | Region: Global | 118 pages

Thermal Paper Market Overview


Thermal Paper Market is expected to reach an overall value worth USD 5,903.8 Million by the end of the future forecast in 2027.


Global Thermal Paper Market consists of a specialized paper that is inclusive of a composite formulation of coating. This market makes use of a mixture that contains heat-sensitive dyes, as well as, an appropriate matrix for the formulation property. The colors for dying are quite different and this variation occurs only after there is a differentiation in temperature once it reaches the mixture’s melting point. The precoat that is applied results in absorbing the mixture containing the dyes below the layer of the thermal paper. Further, it also prevents the print from golding the thermal ink.


The thermal paper market report helps in analyzing the growth of the market that is currently witnessing an increase in demand as there is a spike in the demand for packaged food items from the food industry. Owing to the dynamicity and demand of the market, the thermal paper market share is expected to rise at a 5.4% CAGR by the end of the global forecast period in 2025. The market has various segments functional in 4 major geographical locations around the world that are taken into consideration to estimate the market valuation.


Competitive Landscape


The thermal paper market analysis is important to understand and analyze the working of the key market players. Understanding their revenue and working model will help in drawing a competitive landscape for the market by the end of the global forecast period in 2025. The prominent players are:



  • Mitsubishi Paper Mills Limited 

  • Oji Paper Limited (Thailand)

  • Jujo Thermal Limited 

  • Appvion Limited 

  • Koehler Paper Group


COVID 19 Analysis


The worldwide spread of the COVID 19 pandemic has had a major and concerning the impact on the industries and their manufacturing and production units. The key players present in the thermal paper market are now laying their focus on increasing their working scale by bringing business diversifications. This step is being taken up to minimize the risk factor and survive the dynamicity that is brought in by the pandemic. The malls, shopping centers, and other businesses that make use of the paper industry have been brought to a halt owing to the unavailability of work and labor by the imposition of both partial and complete nature lockdown.


The shopping malls and other centers make use of the paper for instant billing that is likely to help the market propel post the spread of the COVID 19 pandemic. These had faced a major decline during the spread of the pandemic at an alarming scale in 2020. Also, the target audience is subject to rising awareness related to lowering the use of thermal paper used for billing and similar transactions. The rise in the use of online transactions is one the rise owing to digital receipts and ease of convenience. Digital payments are being promoted to be used under various government schemes, as well as, maintain social distancing during the times of the pandemic spread and curb the same. This has hindered the market growth during the pandemic and as the after-effects of the same.


Market Dynamics


Drivers 


The thermal paper market is witnessing a huge increase in the demand for paper owing to the printing transactions and receipts of various businesses. The papers are reliable, as well as, durable in the long run. These receipts have a high usage in the hospitals owing to the numerous amount of billing applications now and then.


Restraints


Due to the different waves and stages of the pandemic, many countries have strict lockdowns and curfews to stop the spread of the COVID 19 pandemic. Hence, many businesses are switching to online delivery and accepting payments through online means only. Online bill generation and forwarding it to the customers in the form of text messages and e-mails are declining the use of thermal paper in the global market.


Technology Analysis


Many steps to contain the pandemic are being taken up. Cash exchange, medical paper bills, etc. are being identified as carriers for the pandemic. Hence, to limit the same, online transactions are being preferred. People are also being encouraged to make use of online payments and transactions to prevent being a carrier of the virus to different groups of people. However, there is a growth of the retail sector in mushrooming economies of the APAC region like China, as well as, India. The increase in the number of supermarkets belonging to the POS segment of the thermal paper market will help the market grow at the expected CAGR rate by the end of the global forecast in 2025. However, the lockdowns have imposed children to sit back home that has increased the use of thermal paper in many folds in the education sector.


Study Objectives 



  • To understand the impact of the COVID 19 pandemic on the market dynamics that are likely to have an impact on the market dynamics, expected CAGR growth, as well as, estimating the value of the market by the end of the future forecast period in 2027. 

  • To analyze the performance of the market segments in 4 major geographical locations namely North America, Europe, Asia Pacific, as well as, the rest of the world (RoW).

  • To study the revenue model and performance of the prominent players of the market, understand their recent developments to draw a competitive scale, and estimate the market valuation by the end of the future forecast in 2027. 


Segment Overview


The thermal paper market revenue is likely to be estimated based on the performance of its market segments. The thermal paper market segments predict the individual performance of each segment and further helps in analyzing the growth potential in each of them. The thermal paper market segmentation is done based on the following:


Technology


Under the technology segment, the market consists of direct thermal, as well as, thermal transfer amongst others. Owing to the market trends, direct thermal technology has gained a lot of momentum. The increase is due to factors like the adoption of this technology in receipts, shipping labels, parking tickets, coupons, compliance labels, as well as, kiosk tickets, amongst others. In the historic year of 2018, this market segment accounted for 48% of the market share.


Application


Based on application, the market has segments like the point of sale (POS), tags and labels, lottery, as well as, gaming, amongst others. In the pandemic year of 2020, the POS market segment had the maximum market share on the global level that accounted for 64%. The thermal paper is undergoing wide adoption and usage in the POS machinery because it stimulates a degree of ease while carrying out the printing procedure. Also, the mobile POS terminals have a wide range in various spaces for public utility, transportation, as well as, the retail market.


Geographical locations


The thermal paper market is conducting its manufacturing, production, and services in 4 major locations of the world. These are North America, Asia Pacific countries, European nations, as well as, the rest of the world (RoW).


thermal paper


Regional Analysis


The North American region is expected to have the largest market share by the end of the future forecast period of 2025. The US market is expected to dominate the growth in the North American region due to the widespread increase in the number of entries and applicants from different industries like pharma and medical, food and beverage, amongst the other functional ones. Following the trend, the second region that is expecting maximum growth is the APAC region. Major country players like India, as well as, China, are expected to hold the largest share in terms of growth. These regions are witnessing an increased demand for the packaged food items. Also, there is the expected growth of the retail and food and beverage industry units.


Recent Developments 



  • The young generation of the APAC region is increasing the demand for packed food items owing to their busy schedule and lifestyle changes 

  • Increase in use of PoS market segment at various places at ATMs, cash registers, machines for credit card use, gas stations, and much more. 

  • Expansion of the supermarkets giving a rise to supermarkets in the US market along with an increasing network in between the small stores, as well as, the hypermarkets

  • In 2018, there was a 15.2 million point sale registered of the terminals processing advancement in the whole of the European continent. 


Report Overview


The global thermal paper market research report consists of the impact of the pandemic on the market that is further giving rise to the market opportunities, as well as, restraints in the process of growth. By the end of the global forecast period in 2025, the market is expected to rise at a CAGR of 4.87% CAGR. the report also conducts primary research to understand the role and functioning of the market segments under 4 major geographical locations of the world. The report focuses on the performance of the key market players by noting the recent developments, understanding their revenue model, and drawing a competitive global graph.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 5,903.8 Million
  CAGR   5.4% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Technology, and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rst of the World (RoW)
  Key Vendors   Mitsubishi Paper Mills Limited, Oji Paper Limited (Thailand), Jujo Thermal Limited, Appvion Limited, Koehler Paper Group
  Key Market Opportunities

  • Significant Growth In Italy Gaming Industry And Favourable Government Initiatives
  • New product launches and R&D amongst major key players
  •   Key Market Drivers

  • Growth In Packaged Food Industries
  • Growth In Pharmaceutical Industry
  • Increase In The Number Of ATM Machines
  • Growth In Retail Industry


  • Frequently Asked Questions (FAQ) :


    The thermal paper market is supposed to expand at 5.4% CAGR.

    Increasing demand for POS application is anticipated to lead the augmentation of the thermal paper market.

    The segments of the market based on technology are thermal transfer, direct thermal, and others.

    The direct thermal segment is anticipated to dominate the market.

    The application segments are POS, labels & tags, lottery & gaming, and others.

    The thermal paper market is set to be dominated by the POS segment.

    The major players are Ricoh (Japan), Appvion Operations, Inc. (the US), Oji Holdings Corporation (Japan), KOEHLER GROUP (Germany), Hansol (South Korea), MITSUBISHI PAPER MILLS LIMITED (Japan), NAKAGAWA Manufacturing (USA), Inc. (US), Gold Huasheng Paper (Suzhou Industrial Park) CO., Ltd Inc. (China), Jujo Thermal Ltd. (Finland), and Rotolificio Bergamasco SRL (Italy).