Market Research Future (MRFR) predicts the global thermal paper market to reach USD 4,903.8 million at a 4.87% CAGR from 2018 to 2025 (forecast period).
The global thermal paper market consists of specialized paper that includes a composite coating formulation. This market employs a mixture of heat-sensitive dyes and a suitable matrix for the formulation property. The colors for dying are very different, and this variation happens only when a temperature difference occurs until the mixture hits its melting point. The precoat that is applied absorbs the mixture containing the dyes under the layer of thermal paper. Furthermore, it also prevents the print from golding the thermal ink.
The thermal paper industry is experiencing a significant increase in demand for paper as a result of various businesses’ printing transactions and receipts. The papers are dependable as well as long-lasting. Because of the large number of billing applications that occur on a regular basis, these receipts are widely used in hospitals.
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COVID-19 Impact on the Global Thermal Paper Market
The global spread of the COVID 19 pandemic has had a significant and worrying effect on industries and their manufacturing and production units. The main players in the thermal paper market are now focusing on growing their working size through business diversifications. This measure is being taken to reduce the risk factor and to withstand the dynamic that the pandemic brings with it. The imposition of both partial and total nature lockdown has brought to a halt the malls, shopping centers, and other businesses that depend on the paper industry due to a lack of work and labor.
Shopping malls and other centers use paper for instant billing, which is likely to help the industry rebound following the spread of the COVID 19 pandemic. These had faced a significant decline during the spread of the pandemic at an alarming scale in 2020. Furthermore, the target audience is becoming more conscious of the importance of reducing the usage of thermal paper in billing and similar transactions. The use of online transactions is increasing as a result of digital receipts and the ease of convenience. Digital payments are being promoted for use in various government schemes and maintain social distancing during pandemic spread and curb it. This has hindered the market development during the pandemic and as the after-effects of the same.
The MRFR report highlights an inclusive segmental analysis of the global thermal paper market based on application and technology.
By technology, the thermal paper market is segmented into thermal transfer, direct thermal, and others. Of these, the direct thermal segment will lead the market over the forecast period for the different features such as high graphics capability, noise reduction, and good mobility.
By application, the global thermal paper market is segmented into labels and tags, lottery and gaming, POS, and others. Of these, the POS segment will dominate the market over the forecast period. The growing retail industry in China and India, coupled with the emergence of new supermarkets and hypermarkets, are adding to the growth of the segment.
By region, the thermal paper market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America is predicted to spearhead the market over the forecast period. The growing need of POS thermal receipts, rapid advances in manufacturing approaches and equipment, increasing R&D activities, the presence of well-established retail sector, rising trends for instant billing in malls and shopping centers, and labeling and tagging operations for goods in industries are adding to the global thermal paper market growth in the region.
In Europe, the thermal paper market is predicted to have the second-largest share over the forecast period for the booming food & beverage sector.
In the APAC region, the thermal paper market is predicted to have a healthy growth over the forecast period. Developing printing and packaging industries, increase in supermarkets and retail outlets in Saudi Arabia, India, and China, increasing consumption of tags, consumer product labels, and receipts, demand for high-quality paper, changing economic dynamics, increasing manufacturing and import in India, and increasing imports of thermal paper in South Korea are adding to the global thermal paper market growth in the region.
In the RoW, the thermal paper market is predicted to have sound growth over the forecast period.
Key players profiled in the global thermal paper market report include Rotolificio Bergamasco SRL (Italy), Gold Huasheng Paper (Suzhou Industrial Park) CO., Ltd Inc. (China), Jujo Thermal Ltd. (Finland), NAKAGAWA Manufacturing (USA), Inc. (US), Hansol (South Korea), MITSUBISHI PAPER MILLS LIMITED (Japan), KOEHLER GROUP (Germany), Appvion Operations, Inc. (the US), Oji Holdings Corporation (Japan), and Ricoh (Japan).
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Table of Content
1 Executive Summary
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
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