PUBLISHER: Allied Market Research | PRODUCT CODE: 1179713
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179713
The thermal paper market was valued at $3.4 billion in 2021 and is projected to reach $5.7 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Thermal paper is a sort of specialized paper that changes color when heated and prints without the need for traditional ink. The effect is achieved by covering the base paper with a mixture of heat-sensitive dyes and color-developers during the production process. A Leuco dye consists of a colorless crystalline powder that, when heated, melts and combines with an organic acid, also known as a developer, to produce an opaque hue. Bisphenol-A (BPA) or Bisphenol-S (BPS) are the most often utilized developers. This paper is utilized largely in credit card terminals, point-of-sale (POS) terminals, labeling devices, and ATMs. The absence of traditional inks enables printing on this type of paper in remote areas, making it an exciting choice for e-commerce labeling and ticketing applications. The thermal paper offers the benefit of requiring essentially no maintenance; there is no need to frequently replace expensive ink or toner. The only required maintenance is routine cleaning of the printer head. Repairs are required infrequently, which further reduces the cost of upkeep. Compared to other types of printers, an inkless thermal paper printer has very few moving parts, making it exceedingly unlikely to clog. This leads to substantial cost reductions due to decreased maintenance expenses. Coreless thermal paper rolls, for example, offer substantial advantages to organizations. Due to the advantages thermal paper offers, including lower production and shipping costs and environmental friendliness, an increasing number of organizations are moving to use thermal paper.
The increasing usage of POS terminals in warehouses and retail outlets is anticipated to fuel the need for thermal paper. As a result of improved government policies and increased domestic demand for pharmaceutical and food and beverage products in South Asian nations, a favorable business climate is anticipated to drive market expansion. The presence of paper makers in nations, such as China is also anticipated to contribute positively to market expansion. However, due to the rising digitalization of the transaction process, the need for printing at POS terminals is predicted to decrease, resulting in a slower growth rate for the industry. In addition, innovation in terms of internal replacement is anticipated to hamper the industry expansion. However, the increasing use of e-commerce is anticipated to increase the demand for thermal paper in the form of labels and tags. The expansion of retail businesses and chains in developing economies such as India and China is anticipated to have a beneficial effect on the adoption of POS terminals, hence boosting market growth. In addition, government activities focused on bolstering the food and pharmaceutical industries in emerging economies are anticipated to increase the usage of thermal paper in packaging and labeling applications. In retail establishments and businesses, marketing methods are evolving. Thermal papers are extensively used for thermal barcode printing, which enables the product to be monitored throughout transportation and thereafter. This aspect enables the product manufacturer to direct his operations based on geography and customer preferences. These characteristics present lucrative potential growth opportunities for the thermal paper market.
The thermal paper market is segmented on the basis of printing technology, application, and region. On the basis of printing technology, the market is categorized into direct thermal, thermal transfer and others. On the basis of application, the market is categorized into point of sale (POS), tags & label, lottery & gaming, ticketing, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global thermal paper market are Appvion, Domtar Corporation, Hansol Paper Co. Ltd., Henan Province JiangHe Paper Co. Ltd., Jujo Thermal Ltd, Kanzaki Specialty Papers Inc, Koehler Paper, Lecta, Mitsubishi Paper Mills Limited, Nakagawa Manufacturing (USA), Inc, Oji Holdings Corporation, Panda Paper Roll, Rotolificio Bergamasco Srl, Thermal Solutions International Inc., and Twin Rivers Paper Company. Other players operating in the thermal paper market are Avery Dennison, Ricoh Company, Ltd., and Siam Paper.
IMPACT OF COVID-19 ON THE GLOBAL THERMAL PAPER MARKET
Key Benefits For Stakeholders
By Application
By Printing Technology
By Region