According to the latest report by IMARC Group “Thermal Paper Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global thermal paper market size reached US$ 3.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2027, exhibiting a CAGR of 6% during 2022-2027.
Thermal paper refers to a type of specialty paper that is used as a recording medium in inkless printing. It consists of three layers of regular paper that act as a substrate; a base layer made with alkaline salts, gelatin and starch; and a top layer with a chemical coating of Bisphenol A (BPA) as a developer. Thermal paper is highly durable, has high sensitivity toward external adulteration, and changes color when exposed to heat and light. Due to its high reliability and convenience, thermal paper is also used in various applications such as labels, tickets, POS receipts, and medical charts.
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The global thermal paper market is primarily driven by its utilization across the banking, medical, and entertainment industries as thermal paper has the ability to provide a clear print for an extended period compared to traditional print paper. Furthermore, the expansion of the retail sector and increasing network of hypermarkets have increased point-of-sale (POS) billing operations, which is positively influencing the market growth. Moreover, with technological advancements, manufacturers are able to deliver multi-colored paper for asset tagging and certification labels for cold storage products and laboratory specimens. These factors are expected to exhibit a positive outlook for the market in the coming years.
Breakup by Technology:
- Direct Thermal
- Thermal Transfer
Breakup by Application:
- Point of Sale (PoS)
- Lottery and Gaming
- Tags and Labels
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Appvion Operations Inc
- Gold Huasheng Paper Co. Ltd.
- Hansol Paper Ltd.
- Henan JiangHE Paper CO. LTD
- Jujo Thermal Ltd. (Nippon Paper Industries Co. Ltd)
- Koehler Group
- Lecta Group
- Mitsubishi Paper Mills Limited
- Nakagawa Manufacturing Inc.
- Oji Holdings Corporation
- Ricoh Company Ltd.
- Thermal Solutions International Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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