PUBLISHER: Acute Market Reports | PRODUCT CODE: 1397446
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1397446
Thermal Paper Market - Growth, Future Prospects and Competitive Analysis, 2023 - 2031
The thermal paper market is expected to witness a CAGR of 4.1% during the forecast period of 2023 to 2031, fueled by a multitude of factors. The thermal paper market has been driven by the adoption of POS systems, the growth of e-commerce and shipping activities, and expanding applications in the lottery and gaming sector. Nevertheless, environmental concerns and sustainability have emerged as significant restraints in the market. While POS applications remain important, the tags and labels segment is expected to experience the highest growth. Asia-Pacific is projected to lead in terms of CAGR, while North America will maintain revenue dominance. Competitive strategies will revolve around eco-friendly solutions, cost-efficiency, and printing quality. Overall, the market's future is promising as it adapts to meet evolving industry demands and environmental standards.
Point of Sale (POS) Systems Adoption
One of the primary drivers of the thermal paper market is the widespread adoption of Point of Sale (POS) systems. The shift from traditional cash registers to electronic POS systems in various industries, such as retail, hospitality, and healthcare, has surged. This transition necessitates the use of thermal paper for printing receipts and transaction records due to its convenience and cost-efficiency. The evidence of this driver's influence can be seen in the escalating global deployment of POS systems and the parallel increase in thermal paper consumption.
Growth in E-commerce and Shipping
The growth of e-commerce and the associated increase in shipping activities have significantly driven the thermal paper market. With the surge in online shopping and the need for efficient labeling and tracking of packages, there has been a rising demand for thermal paper in the production of shipping labels. This can be observed in the uptick of parcel shipments and the expansion of e-commerce giants. As e-commerce continues to thrive, the demand for thermal paper, particularly in the tags and labels segment, is projected to further rise.
Expanding Application in Lottery and Gaming
The expanding application of thermal paper in the lottery and gaming industry represents another important driver for this market. Lottery tickets, betting slips, and gaming receipts are often printed on thermal paper due to their ability to provide high-resolution, durable prints. The global lottery and gaming industry's consistent growth, driven by changing regulations and evolving consumer interests, is evident in the increasing use of thermal paper for these applications. This trend is expected to persist as the lottery and gaming sector evolves and introduces new gaming formats and ticketing systems.
Environmental Concerns and Sustainability
A significant restraint facing the thermal paper market is environmental concerns and the growing demand for sustainable alternatives. Thermal paper's production and disposal raise environmental issues due to the use of chemicals and concerns about recyclability. These challenges are evident in the increasing focus on environmentally friendly printing and labeling alternatives and the introduction of stringent regulations on chemical usage. Market players must address these concerns through innovations in sustainable thermal paper options and enhanced recycling processes.
Application Segment: POS Application Dominates the Market
In 2022, the thermal paper market saw a significant demand in the POS application due to the widespread use of electronic point-of-sale systems. However, during the forecast period from 2023 to 2031, the highest Compound Annual Growth Rate (CAGR) is expected in the tags and labels segment. The increased use of thermal paper in e-commerce, logistics, and labeling applications is projected to drive this growth. While POS remains a significant application, tags and labels are likely to see the most significant expansion.
North America Dominates the Market
During the forecast period from 2023 to 2031, Asia-Pacific is expected to exhibit the highest Compound Annual Growth Rate (CAGR) in the thermal paper market. This growth can be attributed to the rapidly expanding retail and e-commerce sectors in countries like China and India. North America is anticipated to maintain the highest revenue percentage during the same period, mainly due to its mature market and continuous demand for thermal paper across various applications.
Market Competition to Intensify during the Forecast Period
In 2022, the thermal paper market featured several key players Leading players in the thermal paper market are Henan Province JiangHe Paper Co. Ltd., Ricoh Company Ltd., Hansol Paper Co. Ltd., Gold Huasheng Paper Co. Ltd., Oji Holdings Corporation, Koehler Group, Thermal Solutions International Inc., Mitsubishi Paper Mills Limited, Appvion Inc, Twin Rivers Paper Company, Jujo Thermal Limited, Rotolificio Bergamasco Srl, Iconex LLC, and NAKAGAWA Manufacturing Inc. These companies are expected to maintain their positions during the forecast period from 2023 to 2031. Competitive strategies are likely to focus on enhancing the thermal paper's sustainability, cost-effectiveness, and printing quality. The market is poised to witness intensified competition as companies strive to address environmental concerns and meet the growing demand for eco-friendly thermal paper options.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation ofThermal Paper market are as follows:
- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Thermal Paper market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Application
- POS
- Tags & Label
- Lottery & Gaming
- Others
Region Segment (2021-2031; US$ Million)
- North America
- U.S.
- Canada
- Rest of North America
- UK and European Union
- UK
- Germany
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- Africa
- Rest of Middle East and Africa
Key questions answered in this report:
- What are the key micro and macro environmental factors that are impacting the growth of Thermal Paper market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Thermal Paper market?
- Which is the largest regional market for Thermal Paper market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Thermal Paper market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Thermal Paper market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Thermal Paper Market
- 2.2. Global Thermal Paper Market, By Application, 2022 (US$ Million)
- 2.3. Global Thermal Paper Market, By Geography, 2022 (US$ Million)
- 2.4. Attractive Investment Proposition by Geography, 2022
3. Thermal Paper Market: Competitive Analysis
- 3.1. Market Positioning of Key Thermal Paper Market Vendors
- 3.2. Strategies Adopted by Thermal Paper Market Vendors
- 3.3. Key Industry Strategies
- 3.4. Tier Analysis 2022 Versus 2031
4. Thermal Paper Market: Macro Analysis & Market Dynamics
- 4.1. Introduction
- 4.2. Global Thermal Paper Market Value, 2021 - 2031, (US$ Million)
- 4.3. Market Dynamics
- 4.3.1. Market Drivers
- 4.3.2. Market Restraints
- 4.3.3. Key Challenges
- 4.3.4. Key Opportunities
- 4.4. Impact Analysis of Drivers and Restraints
- 4.5. See-Saw Analysis
- 4.6. Porter's Five Force Model
- 4.6.1. Supplier Power
- 4.6.2. Buyer Power
- 4.6.3. Threat Of Substitutes
- 4.6.4. Threat Of New Entrants
- 4.6.5. Competitive Rivalry
- 4.7. PESTEL Analysis
- 4.7.1. Political Landscape
- 4.7.2. Economic Landscape
- 4.7.3. Technology Landscape
- 4.7.4. Legal Landscape
- 4.7.5. Social Landscape
5. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2022 Versus 2031
- 5.3. Market Segmentation
- 5.3.1. POS
- 5.3.2. Tags & Label
- 5.3.3. Lottery & Gaming
- 5.3.4. Others
6. North America Thermal Paper Market, 2021-2031, USD (Million)
- 6.1. Market Overview
- 6.2. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 6.3.Thermal Paper Market: By Region, 2021-2031, USD (Million)
- 6.3.1.North America
- 6.3.1.1. U.S.
- 6.3.1.1.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 6.3.1.2. Canada
- 6.3.1.2.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 6.3.1.3. Rest of North America
- 6.3.1.3.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 6.3.1.1. U.S.
- 6.3.1.North America
7. UK and European Union Thermal Paper Market, 2021-2031, USD (Million)
- 7.1. Market Overview
- 7.2. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.Thermal Paper Market: By Region, 2021-2031, USD (Million)
- 7.3.1.UK and European Union
- 7.3.1.1. UK
- 7.3.1.1.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.1.2. Germany
- 7.3.1.2.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.1.3. Spain
- 7.3.1.3.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.1.4. Italy
- 7.3.1.4.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.1.5. France
- 7.3.1.5.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.1.6. Rest of Europe
- 7.3.1.6.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 7.3.1.1. UK
- 7.3.1.UK and European Union
8. Asia Pacific Thermal Paper Market, 2021-2031, USD (Million)
- 8.1. Market Overview
- 8.2. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.Thermal Paper Market: By Region, 2021-2031, USD (Million)
- 8.3.1.Asia Pacific
- 8.3.1.1. China
- 8.3.1.1.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.1.2. Japan
- 8.3.1.2.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.1.3. India
- 8.3.1.3.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.1.4. Australia
- 8.3.1.4.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.1.5. South Korea
- 8.3.1.5.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.1.6. Rest of Asia Pacific
- 8.3.1.6.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 8.3.1.1. China
- 8.3.1.Asia Pacific
9. Latin America Thermal Paper Market, 2021-2031, USD (Million)
- 9.1. Market Overview
- 9.2. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 9.3.Thermal Paper Market: By Region, 2021-2031, USD (Million)
- 9.3.1.Latin America
- 9.3.1.1. Brazil
- 9.3.1.1.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 9.3.1.2. Mexico
- 9.3.1.2.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 9.3.1.3. Rest of Latin America
- 9.3.1.3.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 9.3.1.1. Brazil
- 9.3.1.Latin America
10. Middle East and Africa Thermal Paper Market, 2021-2031, USD (Million)
- 10.1. Market Overview
- 10.2. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 10.3.Thermal Paper Market: By Region, 2021-2031, USD (Million)
- 10.3.1.Middle East and Africa
- 10.3.1.1. GCC
- 10.3.1.1.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 10.3.1.2. Africa
- 10.3.1.2.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 10.3.1.3. Rest of Middle East and Africa
- 10.3.1.3.1. Thermal Paper Market: By Application, 2021-2031, USD (Million)
- 10.3.1.1. GCC
- 10.3.1.Middle East and Africa
11. Company Profile
- 11.1. Henan Province JiangHe Paper Co. Ltd.
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Portfolio
- 11.1.4. Strategic Initiatives
- 11.2. Ricoh Company Ltd.
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Portfolio
- 11.2.4. Strategic Initiatives
- 11.3. Hansol Paper Co. Ltd.
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Portfolio
- 11.3.4. Strategic Initiatives
- 11.4. Gold Huasheng Paper Co. Ltd.
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Portfolio
- 11.4.4. Strategic Initiatives
- 11.5. Oji Holdings Corporation
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Portfolio
- 11.5.4. Strategic Initiatives
- 11.6. Koehler Group
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Portfolio
- 11.6.4. Strategic Initiatives
- 11.7. Thermal Solutions International Inc.
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Portfolio
- 11.7.4. Strategic Initiatives
- 11.8. Mitsubishi Paper Mills Limited
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Portfolio
- 11.8.4. Strategic Initiatives
- 11.9. Appvion Inc
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Portfolio
- 11.9.4. Strategic Initiatives
- 11.10. Twin Rivers Paper Company
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Portfolio
- 11.10.4. Strategic Initiatives
- 11.11. Jujo Thermal Limited
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Portfolio
- 11.11.4. Strategic Initiatives
- 11.12. Rotolificio Bergamasco Srl
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Portfolio
- 11.12.4. Strategic Initiatives
- 11.13. Iconex LLC
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Portfolio
- 11.13.4. Strategic Initiatives
- 11.14. NAKAGAWA Manufacturing Inc.
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Portfolio
- 11.14.4. Strategic Initiatives
- 11.15. Other Notable Players
- 11.15.1. Company Overview
- 11.15.2. Financial Performance
- 11.15.3. Product Portfolio
- 11.15.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 2 North America Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 3 U.S. Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 4 Canada Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 5 Rest of North America Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 6 UK and European Union Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 7 UK Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 8 Germany Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 9 Spain Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 10 Italy Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 11 France Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 12 Rest of Europe Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 13 Asia Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 14 China Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 15 Japan Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 16 India Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 17 Australia Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 18 South Korea Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 19 Latin America Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 20 Brazil Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 21 Mexico Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 22 Rest of Latin America Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 23 Middle East and Africa Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 24 GCC Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 25 Africa Thermal Paper Market By Application, 2021-2031, USD (Million)
- TABLE 26 Rest of Middle East and Africa Thermal Paper Market By Application, 2021-2031, USD (Million)
List of Figures
- FIG. 1 Global Thermal Paper Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Thermal Paper Market: Quality Assurance
- FIG. 5 Global Thermal Paper Market, By Application, 2022
- FIG. 6 Global Thermal Paper Market, By Geography, 2022
- FIG. 7 Market Geographical Opportunity Matrix - Global Thermal Paper Market, 2022
FIG. 8Market Positioning of Key Thermal Paper Market Players, 2022
FIG. 9Global Thermal Paper Market - Tier Analysis - Percentage of Revenues by Tier Level, 2022 Versus 2031
- FIG. 10 Global Thermal Paper Market, By Application, 2022 Vs 2031, %
- FIG. 11 U.S. Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 12 Canada Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 13 Rest of North America Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 14 UK Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 15 Germany Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 16 Spain Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 17 Italy Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 18 France Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 19 Rest of Europe Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 20 China Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 21 Japan Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 22 India Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 23 Australia Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 24 South Korea Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 25 Rest of Asia Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 26 Brazil Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 27 Mexico Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 28 Rest of Latin America Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 29 GCC Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 30 Africa Thermal Paper Market (US$ Million), 2021 - 2031
- FIG. 31 Rest of Middle East and Africa Thermal Paper Market (US$ Million), 2021 - 2031
