Thermal Paper Market Research Report - Global Forecast till 2030

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 2030

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

1 Executive Summary

2 Introduction

2.1 Definition 13

2.2 Scope of the Study 13

2.3 Assumptions 13

2.4 Market Structure 14

3 Research Methodology

3.1 Research Process 15

3.2 Primary Research 16

3.3 Secondary Research 16

3.4 Market Size Estimation 16

3.5 Forecast Model 18

4 Market Dynamics

4.1 Drivers 20

4.1.1 Growth in packaged food industries 20

4.1.2 Growth in pharmaceutical industry 21

4.1.3 Increase in the number of ATM machines 22

4.1.4 Growth in retail industry 22

4.2 Restraints 23

4.2.1 Fluctuating supply and prices of raw materials 23

4.2.2 Availability of skilled labor 23

4.3 Opportunities 24

4.3.1 Significant growth in Italy gaming industry and favourable government initiatives 24

5 Market Factor Analysis

5.1 Porter's Five Forces Analysis 25

5.1.1 Threat of New Entrants 26

5.1.2 Bargaining Power of Suppliers 26

5.1.3 Bargaining Power of Buyers 26

5.1.4 Threat of Substitutes 26

5.1.5 Rivalry 26

5.2 Value Chain Analysis 27

5.3 Economic Parameter and Trends 28

5.3.1 North America 28

5.3.2 Europe 31

5.3.3 Asia Pacific 33

6 Global Thermal Paper Market, By Technology

6.1 Overview 36

6.1.1 Direct Thermal 36

6.1.2 Thermal Transfer 36

7 Global Thermal Paper Market, By Application

7.1 Overview 39

7.1.1 POS 39

7.1.2 Lottery & Gaming 39

7.1.3 Labels & Tags 39

7.1.4 Others 40

8 Global Thermal Paper Market, By Region

8.1 Introduction 43

8.2 North America 46

8.2.1 U.S. 50

8.2.2 Canada 53

8.3 Europe 55

8.3.1 Germany 59

8.3.2 U.K. 61

8.3.3 France 62

8.3.4 Spain 64

8.3.5 Italy 66

8.3.6 Rest of Europe 68

8.4 Asia Pacific 70

8.4.1 China 73

8.4.2 Japan 75

8.4.3 India 77

8.4.4 Rest of Asia Pacific 79

8.5 Rest of the World 81

8.5.1 South America 84

8.5.2 Middle East & Africa 86

9 Competitive Scenario

9.1 Competitive Landscape 88

9.2 Competitive Benchmarking 89

9.3 Capacity Expansion 90

10 Company Profile

10.1 Ricoh Company Ltd. 91

10.1.1 Company Overview 91

10.1.2 Financial Overview 91

10.1.3 Product/Service Offering 92

10.1.4 Strategy 92

10.1.5 Key Developments 93

10.1.6 SWOT Analysis 93

10.2 Oji Paper (Thailand) Ltd. 94

10.2.1 Company Overview 94

10.2.2 Financial Overview 94

10.2.3 Product/Service Offering 95

10.2.4 Strategy 96

10.2.5 SWOT Analysis 97

10.3 Jujo Thermal Ltd. 98

10.3.1 Financial Overview 98

10.3.2 Product/Service Offering 99

10.3.3 Strategy 100

10.3.4 Key developments 100

10.3.5 SWOT Analysis 101

10.4 Mitsubishi Paper Mills Ltd. 102

10.4.1 Company Overview 102

10.4.2 Financial Overview 102

10.4.3 Product/Service Offering 103

10.4.4 Strategy 106

10.4.5 SWOT 107

10.5 Hansol paper Co. Ltd. 108

10.5.1 Company Overview 108

10.5.2 Financial Overview 108

10.5.3 Product/Service Offering 109

10.5.4 Strategy 110

10.5.5 SWOT 110

10.6 Appvion, Inc. 111

10.6.1 Company Overview 111

10.6.2 Financial Overview 111

10.6.3 Product/Service Offering 112

10.6.4 Strategy 112

10.6.5 Key Developments 113

10.7 Koehler Paper Group 114

10.7.1 Company Overview 114

10.7.2 Financial Overview 114

10.7.1 Product Offering 114

10.7.2 Strategy 115

10.8 Nakagawa Manufacturing (USA), Inc. 116

10.8.1 Company Overview 116

10.8.2 Financial Overview 116

10.8.3 Product Offering 116

10.8.4 Strategy 117

11 List of Tables

TABLE 1 MARKET SYNOPSIS 12

TABLE 2 U.S.: USAGE OF BANKING SERVICES, 2015 (%) 30

TABLE 3 GLOBAL THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 37

TABLE 4 GLOBAL THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 37

TABLE 5 GLOBAL THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 40

TABLE 6 GLOBAL THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 41

TABLE 7 GLOBAL THERMAL PAPER MARKET, BY REGION, 2020-2027 (USD MILLION) 45

TABLE 8 GLOBAL THERMAL PAPER MARKET, BY REGION, 2020-2027 (KT) 45

TABLE 9 NORTH AMERICA: INTERNET PENETRATION (%) 46

TABLE 10 NORTH AMERICA: SHARE OF E-COMMERCE IN GDP, 2015 (%) 46

TABLE 11 NORTH AMERICA: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 47

TABLE 12 NORTH AMERICA: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (KT) 48

TABLE 13 NORTH AMERICA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 48

TABLE 14 NORTH AMERICA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 49

TABLE 15 NORTH AMERICA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 49

TABLE 16 NORTH AMERICA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027(KT) 50

TABLE 17 U.S.: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 51

TABLE 18 U.S.: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 51

TABLE 19 U.S.: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (USD MILLION) 52

TABLE 20 U.S.: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (KT) 52

TABLE 21 CANADA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 53

TABLE 22 CANADA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 53

TABLE 23 CANADA: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (USD MILLION) 54

TABLE 24 CANADA: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (KT) 54

TABLE 25 EUROPE: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 55

TABLE 26 EUROPE: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (KT) 56

TABLE 27 EUROPE: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 56

TABLE 28 EUROPE: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 57

TABLE 29 EUROPE: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 57

TABLE 30 EUROPE: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 58

TABLE 31 GERMANY: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 59

TABLE 32 GERMANY: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 59

TABLE 33 GERMANY: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 60

TABLE 34 GERMANY: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 60

TABLE 35 U.K.: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 61

TABLE 36 U.K.: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 61

TABLE 37 FRANCE: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 62

TABLE 38 FRANCE: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 62

TABLE 39 FRANCE: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 63

TABLE 40 FRANCE: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 63

TABLE 41 SPAIN: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 64

TABLE 42 SPAIN: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 64

TABLE 43 SPAIN: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (USD MILLION) 65

TABLE 44 SPAIN: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (KT) 65

TABLE 45 ITALY: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 66

TABLE 46 ITALY: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 66

TABLE 47 ITALY: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (USD MILLION) 66

TABLE 48 ITALY: THERMAL PAPER MARKET SIZE, BY APPLICATION, 2020-2027 (KT) 67

TABLE 49 REST OF EUROPE: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 68

TABLE 50 REST OF EUROPE: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 68

TABLE 51 REST OF EUROPE: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 69

TABLE 52 REST OF EUROPE: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027(KT) 69

TABLE 53 ASIA PACIFIC: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 70

TABLE 54 ASIA PACIFIC: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (KT) 70

TABLE 55 ASIA PACIFIC: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 71

TABLE 56 ASIA PACIFIC: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 71

TABLE 57 ASIA PACIFIC: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 72

TABLE 58 ASIA PACIFIC: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 72

TABLE 59 CHINA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 73

TABLE 60 CHINA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 73

TABLE 61 CHINA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 74

TABLE 62 CHINA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 74

TABLE 63 JAPAN: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 75

TABLE 64 JAPAN: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 75

TABLE 65 JAPAN: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 76

TABLE 66 JAPAN: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 76

TABLE 67 INDIA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 77

TABLE 68 INDIA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 77

TABLE 69 INDIA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 78

TABLE 70 INDIA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 78

TABLE 71 REST OF ASIA PACIFIC: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 79

TABLE 72 REST OF ASIA PACIFIC: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 79

TABLE 73 REST OF ASIA PACIFIC: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 80

TABLE 74 REST OF ASIA PACIFIC: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 80

TABLE 75 ROW: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 81

TABLE 76 ROW: THERMAL PAPER MARKET, BY COUNTRY, 2020-2027 (KT) 81

TABLE 77 ROW: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 82

TABLE 78 ROW: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 82

TABLE 79 ROW: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 83

TABLE 80 ROW: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 83

TABLE 81 SOUTH AMERICA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 84

TABLE 82 SOUTH AMERICA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 84

TABLE 83 SOUTH AMERICA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 85

TABLE 84 SOUTH AMERICA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027(KT) 85

TABLE 85 MIDDLE EAST & AFRICA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 86

TABLE 86 MIDDLE EAST & AFRICA: THERMAL PAPER MARKET, BY TECHNOLOGY, 2020-2027 (KT) 86

TABLE 87 MIDDLE EAST & AFRICA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 87

TABLE 88 MIDDLE EAST & AFRICA: THERMAL PAPER MARKET, BY APPLICATION, 2020-2027 (KT) 87

TABLE 89 RAK CERAMICS: KEY DEVELOPMENTS, 2020-2027 100

12 List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR 15

FIGURE 2 TOP DOWN & BOTTOM-UP APPROACH 17

FIGURE 3 GLOBAL THERMAL PAPER MARKET: DRIVERS, RESTRAINTS AND TRENDS 19

FIGURE 4 GLOBAL PROCESSED FOOD & BEVERAGES SALES. BY REGION, 2000 AND 2013, (VOLUME SALES, KILOTONS) 20

FIGURE 5 PHARMACEUTICAL SPENDING PER CAPITA, 2020 (USD MILLION) 21

FIGURE 6 GLOBAL: ATMS PER 100,000 ADULTS, 2020-2027 22

FIGURE 7 GLOBAL THERMAL PAPER MARKET: DRIVERS IMPACT ANALYSIS 23

FIGURE 8 GLOBAL THERMAL PAPER MARKET: BARRIERS IMPACT ANALYSIS 24

FIGURE 9 PORTER'S 5 FORCES ANALYSIS OF GLOBAL THERMAL PAPER MARKET 25

FIGURE 10 VALUE CHAIN ANALYSIS OF GLOBAL THERMAL PAPER MARKET 27

FIGURE 11 NORTH AMERICA: E-COMMERCE TURNOVER, 2020-2027 (USD BILLION) 29

FIGURE 12 ESTIMATED ANNUAL U.S. RETAIL TRADE SALES, 2020-2027 (USD MILLION) 29

FIGURE 13 EU: RETAIL SECTOR SHARE, 2020 (%) 32

FIGURE 14 GLOBAL THERMAL PAPER MARKET, BY TECHNOLOGY, 2020 (IN %) 36

FIGURE 15 GLOBAL THERMAL PAPER MARKET, BY APPLICATION, 2020 (IN %) 40

FIGURE 16 GLOBAL RETAIL SALES SHARE, BY COUNTRY, 2020 (%) 43

FIGURE 17 THERMAL PAPER MARKET SHARE, BY REGION, 2020 (IN %) 44

FIGURE 18 NORTH AMERICA THERMAL PAPER MARKET SHARE, BY COUNTRY, 2020 (%) 47

FIGURE 19 U.S. ESTIMATED E-COMMERCE SALES, 2020-2027 (USD MILLION) 50

FIGURE 20 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL THERMAL PAPER MARKET, 2020-2027, (%) 88

FIGURE 21 GLOBAL THERMAL PAPER MARKET: COMPETITIVE BENCHMARKING 89

FIGURE 22 RICOH COMPANY: TOTAL REVENUE VS SEGMENTAL REVENUE, 2020-2027 (USD MILLION) 91

FIGURE 23 RICOH COMPANY: GEOGRAPHIC REVENUE MIX, 2020 (%) 92

FIGURE 24 RICOH COMPANY: KEY DEVELOPMENTS, 2020-2027 (%) 93

FIGURE 25 OJI PAPER (THAILAND) LTD.: TOTAL REVENUE VS SEGMENTAL REVENUE (USD MILLION) 94

FIGURE 26 OJI PAPER (THAILAND) LTD.: GEOGRAPHICAL REVENUE MIX, 2020 (%) 95

FIGURE 27 NIPPON PAPER GROUP: TOTAL REVENUE VS SEGMENTAL REVENUE, 2020-2027 (USD BILLION) 98

FIGURE 28 MITSUBISHI PAPER MILLS LTD.: TOTAL REVENUE VS SEGMENTAL REVENUE (USD MILLION) 102

FIGURE 29 MITSUBISHI PAPER MILLS LTD.: GEOGRAPHIC REVENUE MIX, 2020 (%) 103

FIGURE 30 HANSOL PAPER CO. LTD.: TOTAL REVENUE, 2020-2027 (USD MILLION) 108

FIGURE 31 APPVION, INC.: TOTAL REVENUE VS SEGMENTAL REVENUE (USD MILLION) 111

FIGURE 32 APPVION, INC.: KEY DEVELOPMENTS, 2020-2027 (%) 113

Thermal Paper Market

Thermal Paper Industry is expected to surpass the market value of over USD 6.03 billion by the year 2028 while registering a CAGR of 5.2% during the forecast period 2021-2028

Segmentation

By Technology Direct Thermal Thermal Transfer Others
By Application Point Of Sale (Pos) Lottery & Gaming Labels & Tags Others

Key Players

  • Appvion Incorporated
  • Mitsubishi Paper Mills Limited
  • Oji Holdings Corporation
  • Koehler Paper Group
  • Nakagawa Manufacturing (USA) Inc.
  • Siam Paper Public Company Limited
  • Jujo Thermal Ltd.
  • Ricoh Company Ltd.
  • PM Company L.L.C.
  • Hansol Paper Co Ltd
  • Jiangsu Wampolet Paper Co.Ltd.

Drivers

  • Increasing demand for the tags and labels in the retail stores and food and beverages industries
  • Providing the entire information for the customers
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Thermal Paper Market Overview


Thermal papers are used in the printing and packaging industries to display critical information or billing systems. The thermal rolls are generally manufactured and deployed into the thermal transfer or thermal printers for the printing procedures. The thermal papers are coated with specialized inks which turn black when exposed to heat. The utilization of the thermal papers is getting reduced in logistics and transit as the change in temperature can significantly hide the data printed on the papers. On the other hand, the adoptions of lightweight printing technologies, generally termed mobile printers, which don’t require skill to operate them are propelling the overall growth of the thermal paper industry. 


 


Some of the key end-user industries of the thermal paper industry are retail, banking sectors, kiosks, hospitals, and other sectors. The increasing demand for the key applications in these end-user industries is presenting lucrative opportunities for the overall growth of the thermal paper industry.


 


COVID 19 Analysis:


 


Like any other industrial verticals, the thermal paper industry was also experiencing declination during the pandemic, due to the reduction in the production rates. However, the demand in the pharmaceutical industries, healthcare sectors, and packaging sectors was rapidly increasing throughout the pandemic, which increased the thermal paper market value during the pandemic.


The demand for the tags and labels for the medical products, test samples was increasing owing to the increasing emergencies and COVID cases across the globe. The key to differentiating the blood samples, test samples in the laboratories were also increasing throughout the pandemic. Such factors were considered as the key market drivers of thermal paper market growth.


 


Market dynamics:


 


Market drivers:


 


The increasing importance of labeling and providing the entire information for the customers, especially in the sectors such as food and beverage, pharmaceutical to mitigate the adulteration practices. On the other hand, the increasing demand for the tags and labels in the retail stores and food and beverages industries are considered as major drivers of thermal paper market growth.


 


The demand for the label for cold storage products, pharmaceutical products, and laboratory specimens are rapidly increasing due to the increasing health-related products across the globe is considered as the key growth factors of thermal paper market growth.


 


Market opportunities:


 


The advent of advancements in thermal transfer technology and the overall industries are presenting lucrative opportunities for the overall growth of the thermal paper industry. Also, a recent report from the US census bureau states that the sales in the US supermarkets and grocery stores were over USD 650 billion in the year 2019 which is more than triple the amount registered a decade earlier. Such reports are considered as the key opportunities for the overall growth of the thermal paper industry.


 


The marketing strategies are developing in the retail shops and enterprises. The thermal papers are intensively utilized for thermal barcode printing, where the product can be tracked throughout the shipment and afterward. This factor enables the product manufacturer to have a clear insight to direct his business based on location and preferences. Such factors are presenting lucrative opportunities for the overall growth of the thermal paper industry.


 


Market restraints:


 


The Leuco dye is the key raw material used in the production of thermal paper. China is considered as the leading manufacturer of Leuco dye which accounts for about 80% of the production. The environmental regulations imposed on the production facility of the dye have restricted the production of the dye and thereby hinders the overall growth of thermal paper across China. Therefore the volatility of the price of the raw materials in the thermal paper industry is considered as the major restraint of thermal paper market growth.


 


The increasing utilization of the e-receipts and online POS systems in the retail stores are also negatively influencing the overall growth of the thermal paper industry.


 


Market challenges:


 


The lack of skilled professionals in the developing regions in the manufacturing facilities of the thermal paper is considered as the major challenge for the thermal paper market growth.


 


The stringent regulations imposed by the governmental authorities regarding the BPA toxic levels and other factors such as waste generation in thermal paper production are considered as the major challenges in the thermal paper industry.


 


Cumulative growth analysis:


 


The market value of the thermal paper industry was at USD 4.02 billion in the year 2020 and it is expected to surpass the market value of over USD 6.03 billion by the year 2028 while registering a CAGR of 5.2% during the forecast period. The market estimate is due to the intensive utilization of thermal papers in gaming and casino across developed countries such as Las Vegas, Singapore, Macao, and some other popular destinations. In the countries like China, the tags and label segment in the thermal paper industry is witnessing a higher growth rate owing to the increasing number of manufacturing industries. Some of the major applications such as ATMs to show the bank balance and other related information are printed on the thermal papers, majority of the developing regions are utilizing the ATMs for the banking operations. Similarly, the retail sectors, pharmaceutical industries, and food beverages industries are propelling the overall growth of the thermal paper industry in recent times.


 


Value chain analysis:


 


Currently, the point of sale segment in the retail sector is considered as the major consumer of thermal papers. The point of sale segment was holding the market value of over 64% in the year 2020, with the increasing retail industry, the demand for thermal papers is expected to rise during the forecast period in the retail industry. On the other hand, the advent of mobile PoS systems and the increasing deployment of public utility spaces, transactions, and favorable economic conditions are presenting lucrative opportunities for the overall growth of the thermal paper industry. 


 


However, the convenience and instant updating capability of the e-receipts in the retail sectors are expected to hinder the overall growth of the thermal paper industry during the forecast period. The utilization of thermal papers to manufacture the tags and labels for the consumer goods and retail sectors are also holding a significant share in the industry. Moreover, the pharmaceutical industry requires detailed labeling to showcase information such as the composition of the medicines, expiry date, barcodes, and so on where the industry is utilizing the thermal papers only. Such varied applications of the thermal papers in different applications are propelling the thermal paper market growth.


 


Segment overview:


 


Based on type:


 



  • Top-coated

  • Non-top-coated


 


Based on end-user industries:


 



  • Retail

  • Healthcare

  • Packaging

  • Labeling

  • Printing

  • Publishing

  • Entertainment

  • Transit

  • Others


 


Based on printing technology:


 



  • Direct thermal

  • Thermal transfer

  • Others


Based on applications:


 



  • Sale and fax

  • Lottery and gaming

  • Ticketing



  • Boarding pass

  • Train ticket

  • Parking ticket

  • Others


 



  • Medicinal applications

  • Banking and financial services and insurance

  • Packaging and labeling

  • Security paper


 


thermal paper


Regional analysis:


 


Currently, Asia-pacific regions are expected to have a healthy growth rate in the thermal paper industry, as it held about 34% market share in the year 2020, owing to the bolstering growth in the retail sector and pharmaceutical industries. The thermal papers are intensively utilized in the billing and product utilization operations. The increasing population in the Asia-pacific region is also impacting the thermal paper market growth. Similarly, the affordable manufacturing costs incurred in China are presenting lucrative opportunities for the production of thermal papers.


 


On the other hand, Europe is growing in manufacturing the dietary supplements and the nutritional dietary products that are consumed by a huge population now. Moreover, the country also possesses leading manufacturers of nutrition-based products such as Friesland Campina Domo, Beneo, and significant others who are intensively utilizing thermal papers for labeling to promote their products and prevent adulteration. 


 


Competitive landscape:


 



  • Appvion Incorporated

  • Mitsubishi Paper Mills Limited

  • Oji Holdings Corporation

  • Koehler Paper Group

  • Nakagawa Manufacturing (USA), Inc.

  • Siam Paper Public Company Limited

  • Jujo Thermal Ltd.

  • Ricoh Company, Ltd.

  • Shandong Chenming Paper Holdings Ltd

  • Henan Province JiangHe Paper Co., Ltd.

  • PM Company L.L.C.

  • Guangdong Guanhao High-Tech Co., Ltd.

  • Hansol Paper Co Ltd

  • Jiangsu Wampolet Paper Co., Ltd.


 


Recent developments:


 


In the year 2019, one of the leading market players has established their newly launched thermal printer is named SRP-E300, which is known for its cost-effectiveness and durability. These features make it ideal for banking, retail, and hospitability applications.



In the year 2017, one of the leading market players, Mitsubishi Hitec has introduced the Thermoscript LL77 series into the industry which is considered as the cost-effective phenol-free linerless labels which are intensively utilized in the labels, tickets, receipts, and lottery tickets. 


 


Report overview:


 


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


 


Segmentation Table:


 


Based on type:


 



  • Top-coated

  • Non-top-coated


 


Based on end-user industries:


 



  • Retail

  • Healthcare

  • Packaging

  • Labeling

  • Printing

  • Publishing

  • Entertainment

  • Transit

  • Others


 


Based on printing technology:


 



  • Direct thermal

  • Thermal transfer

  • Others


Based on applications:


 



  • Sale and fax

  • Lottery and gaming

  • Ticketing



  • Boarding pass

  • Train ticket

  • Parking ticket

  • Others


 



  • Medicinal applications

  • Banking and financial services and insurance

  • Packaging and labeling

  • Security paper



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 5,903.8 Million
  • 2030 : Significant value
  •   CAGR   5.4% CAGR (2022 to 2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      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


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    Frequently Asked Questions (FAQ) :

    The thermal paper market is expected to surpass the market value of over USD 6.03 billion by the year 2028 while registering a CAGR of 5.2% during the forecast period.

    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).