Global Thermal Paper Market To Grow At A CAGR Of 4.3% By 2030

The global thermal paper market size was worth around USD 3.7 billion in 2021 and is predicted to grow to around USD 5.4 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.3% between 2022 and 2030.

Thermal paper, commonly known as audit roll, is a type of recording material that is widely used to display data. Unlike conventional paper, which requires a ribbon or toner, it is coated with a mixture of dyes and chemicals that may change color when exposed to heat. It is frequently used in portable devices such as fax machines, casino POS systems, cash registers, credit card terminals, kiosks, pay-at-the-pump machines, and mobile printers. These devices are used in retail, gaming, food & beverage (F&B), tourism & hospitality, and banking, financial services, & insurance (BFSI) industries around the world.

The increasing demand for labeling to provide a complete and detailed description of products, especially in the food & beverage sector is the major factor fueling the demand for the global thermal paper market. Increased pH levels, enhanced moisture retention, and high hygiene levels make thermal papers a very suitable option for packaging in the food & beverage sector.

The growing applications of Radio-Frequency Identification (RFID) tags have positively shaped the trajectory of the global thermal paper market during the forecast period. Moreover, the growing use of these papers in the lottery and gaming tickets is further inducing the market to grow significantly. The wide availability of different applications of specialty papers including Kraft, decor, carbonless, release liners, labels, and many others is also favoring the market growth. However, the fluctuations in the price of thermal paper and the emergence of paperless e-transactions are expected to hamper the market growth over the forecast period.

The global thermal paper market is segmented based on type, technology, thickness, width, application, end user, and region.

Based on technology, the market is segmented into direct thermal, thermal transfer, and others. The thermal transfer segment is expected to grow at the highest CAGR over the forecast period. Thermal transfer printing creates text, pictures, and barcodes that are crisp and easy to read and scan. Thermal transfer printing achieves image stability. Thermal transfer printing produces nearly no waste when printing in batches or on a single label. Thermal transfer printing can be used on nearly any sort of media (except multi-form). Because thermal transfer printers are more robust than dot matrix or laser printers, they can be used in both industrial and office settings.

Based on application, the market is segmented into POS receipts, lottery and gaming tickets, labels and tags, and others. The POS receipts segment is anticipated to hold a substantial revenue share over the forecast period owing to the growing billing application in the retail sector across the globe. Furthermore, an increasing number of supermarkets and hypermarkets in the world's top economies are projected to promote POS terminal applications, bolstering market growth. Mobile POS terminals are widely utilized in commercial transportation ticketing applications such as trains, buses, and other modes of public transportation. Furthermore, these machines are used for material management in industries such as manufacturing, government, and retail. The increasing number of POS terminals in public facilities is driving market revenue growth.

Among the regions, the Asia Pacific region held the largest revenue share in 2021 in the global thermal paper market and is expected to remain dominant over the forecast period. The growth in the region is attributable to the rapid proliferation of the industry along with the growing demand for healthcare and pharmaceutical products in the region which also led to the increase in the need for thermal paper for billing operations. Moreover, the surging adoption of cashless transactions in the region has fueled the growth of the regional market. On the other hand, Europe is anticipated to grow significantly during the forecast period due to the high adoption of tags & labels to stick to the labeling standards and thus prevent adulteration.

The global thermal paper market is dominated by players like Jiangsu Wampolet Paper Co., Ltd., Hansol Paper Co Ltd, Guangdong Guanhao High-Tech Co., Ltd., PM Company L.L.C., Henan Province JiangHe Paper Co., Ltd., Shandong Chenming Paper Holdings Ltd, Ricoh Company, Ltd., Jujo Thermal Ltd., Siam Paper Public Company Limited, Nakagawa Manufacturing (USA), Inc., Koehler Paper Group, Oji Holdings Corporation, Mitsubishi Paper Mills Limited, Appvion Incorporated, Kanzaki Specialty Papers Inc., Domtar Corporation, Lecta Group, SIAM EXPORT LTD PARTNERSHIP, Iconex LLC, Twin Rivers Paper Company, Rotolificio Bergamasco Srl, Thermal Solutions International, Inc., GOLD HUASHENG PAPER CO., Papierfabrik August Koehler SE, and Ricoh Company Ltd., among others.

Recent Development:

• In December 2021, Wynnchurch Capital, L.P., a leading middle market private equity firm, announced that it has acquired the thermal coating business assets of Appvion Holding Corp. and its subsidiaries. Founded in 1907 and headquartered in Appleton, Wisconsin, Appvion is a leading provider of specialty and high-performance direct thermal coatings for label and film solutions as well as renewable, fiber-based consumer and industrial packaging solutions.

This review is based on a report by Zion Market Research, titled “Thermal Paper Market By Type (Top Coated and Non-Top Coated), By Technology (Direct Thermal, Thermal Transfer, and Others), By Thickness (60-80 Microns and 80-90 Microns), By Width (2.25”, 3.125” and Others), By Application (POS Receipts, Lottery and Gaming Tickets, Labels & Tags, and Others), End-user (Retail Industry, Healthcare, Packaging & Labeling, Printing & Publishing, Entertainment & Transit, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/thermal-paper-market

The global thermal paper market is segmented as follows:

By Type

• Top Coated
• Non-Top Coated

By Technology

• Direct Thermal
• Thermal Transfer
• Others

By Thickness

• 60-80 Microns
• 80-90 Microns

By Width

• 2.25”
• 3.125”
• Others

By Application

• POS Receipts
• Lottery and Gaming Tickets
• Labels and Tags
• Others

By End User

• Retail Industry
• Healthcare
• Packaging and Labelling
• Printing and Publishing
• Entertainment and Transit
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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