PUBLISHER: Astute Analytica | PRODUCT CODE: 1824117
PUBLISHER: Astute Analytica | PRODUCT CODE: 1824117
Global Thermal Paper Market: By Type, By Width, By Printing Technology, By Application, By End User, By Region-Industry Dynamics, Market Size, Opportunity and Forecast for 2025-2033
The thermal paper market is experiencing strong growth, largely fueled by expansion in the retail, e-commerce, and logistics sectors. In 2024, the market generated revenue of approximately US$1,720.26 million, reflecting its ongoing relevance and demand. Projections indicate that this figure will more than double by 2033, reaching an estimated valuation of US$3,925.45 million. This growth corresponds to a compound annual growth rate (CAGR) of 9.6% over the forecast period from 2025 to 2033, underscoring the market's robust potential and dynamic nature.
Contrary to perceptions of thermal paper as an outdated or niche product, it remains central to modern commerce, logistics, and service industries worldwide. The continuous expansion of e-commerce platforms has dramatically increased the volume of transactions requiring printed receipts, labels, and shipping documents, all of which rely heavily on thermal paper. At the same time, the digitization of payment and transaction processes has further entrenched the need for fast, reliable printing solutions at points of sale and within supply chains.
Noteworthy Market Developments
Industry players and stakeholders in the thermal paper market are closely monitoring the ongoing shift toward more sustainable products, driven by increasing regulatory pressures and heightened environmental awareness among consumers and businesses. Key contributors to this movement include major industry players such as Mitsubishi Paper Mills, Oji Holdings Corporation, Koehler Paper Group, Appvion Operations, Inc., and Jujo Limited. Each of these companies has made significant strides in developing and promoting sustainable thermal paper products that meet stricter regulatory standards while maintaining the performance qualities expected by end-users.
In a notable development in April 2025, Sofidel signed a stalking-horse agreement to acquire key assets from Royal Paper, including four manufacturing plants in the United States. This acquisition is set to boost Sofidel's production capacity for tissue and specialty papers, further strengthening its position in the paper industry. The move highlights ongoing consolidation and expansion efforts among industry leaders as they seek to enhance their product portfolios and meet growing demand for sustainable paper solutions.
Core Growth Drivers
The growing preference for digital and cashless payments at points of sale is a significant factor driving the demand for thermal paper, particularly for printing receipts. As consumers increasingly adopt electronic payment methods, the need for reliable and fast receipt printing solutions remains essential to support seamless transaction experiences. This trend is reflected in the robust growth of the global Point of Sale (POS) market, which was valued at approximately US$32,961.07 million in 2024 and is expected to reach around US$38,030.5 million by 2025. The expansion of digital payment technologies continues to elevate the importance of thermal paper in retail and other sectors.
Emerging Opportunity Trends
A major trend driving growth in the thermal paper market is the surging demand for sustainable and phenol-free paper products. Heightened environmental awareness, coupled with increasingly stringent regulations, is pushing the industry toward adopting more eco-friendly alternatives. As concerns about the environmental impact of traditional thermal paper mount, both consumers and businesses are actively seeking options that reduce harmful chemical usage and minimize ecological footprints. This shift is encouraging manufacturers to innovate and expand their product portfolios to meet the rising demand for greener solutions. In 2024, several prominent companies responded to this market evolution by launching new lines of sustainable thermal paper products.
Barriers to Optimization
The thermal paper market is significantly influenced by the fluctuations in raw material costs, which directly impact its overall stability. Raw materials such as pulp, chemicals for thermal coating, and other essential components are subject to price volatility due to various factors, including supply chain disruptions, changes in global demand, and geopolitical tensions. These fluctuations create uncertainty for manufacturers, who must balance production costs while maintaining competitive pricing for consumers. When raw material costs rise, thermal paper producers face increased expenses that can lead to higher selling prices.
Detailed Market Segmentation
By Type, top-coated thermal paper holds a commanding position in the thermal paper market, largely due to its superior functional qualities that set it apart from other types. This variant of thermal paper is distinguished by a specialized protective top coating that significantly enhances its durability and resistance. The coating provides robust protection against common environmental factors such as abrasion, water, oils, and ultraviolet (UV) light exposure. These protective features play a crucial role in extending the lifespan of printed materials, making top-coated thermal paper especially valuable in industries where long-term record-keeping is essential.
By Application, the primary application of thermal paper continues to be in Point-of-Sale (POS) terminals, where it plays a vital role in facilitating efficient and smooth retail transactions. With the surge in electronic and contactless payment methods, the demand for instant and reliable receipt printing has grown significantly. Thermal paper is the preferred medium in these environments because it supports fast and high-quality printing, which is essential for maintaining seamless customer experiences during checkout.
By End Users, the retail sector remains the largest end-user, driven primarily by the high volume of daily transactions occurring across a diverse range of store formats. The retail industry's reliance on thermal paper is reflected in its commanding market share, which stands at 37.2%, underscoring its significance within the broader thermal paper landscape. This includes everything from expansive supermarket chains to small independent boutiques, all of which rely heavily on thermal paper for printing customer receipts, price labels, and barcode tags. These printed materials serve as crucial touchpoints for both consumer engagement and efficient inventory management, helping retailers track sales and manage stock levels accurately.
By Width, thermal paper with a thickness of 70-80 microns has established itself as the dominant choice within the thermal paper market, largely due to its ability to provide the ideal balance between durability, longevity of paper supply, and compatibility with point-of-sale (POS) devices. This thickness range is classified as heavyweight thermal paper, typically having a basis weight of up to 70 grams per square meter (gsm). Such paper is designed to withstand prolonged handling without compromising the clarity and robustness of printed text and images. This durability is essential in retail and hospitality environments where receipts and printed materials often need to remain legible over extended periods.
Segment Breakdown
- By Type
- Glass
- Plastic
- Ceramic
- Others
By Width
- 50-60 Microns
- 60-70 Microns
- 70-80 Microns
- 80-90 Microns
By Printing Technology
- Direct thermal
- Thermal transfer
By Application
- Thermal Printers
- Lottery systems and ticketing centres
- Point of Sale Terminals
- Document and Labels
- Others
By End User
- Healthcare
- Retail
- Printing and Publishing
- Entertainment and Transit
- Packaging and Labelling
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
Geography Breakdown
- The Asia Pacific region led the global thermal paper market in 2024, accounting for a substantial 39.7% of the worldwide revenue share. This dominance is closely tied to the significant growth observed in the retail and e-commerce sectors across the region. Factors such as rising disposable incomes, accelerating urbanization, and the expansion of the middle-class population have collectively fueled this remarkable expansion. These socioeconomic changes have not only increased consumer spending power but also amplified the demand for efficient retail and logistics solutions, where thermal paper plays a crucial role.
- India, as a key market within the Asia Pacific, exemplifies this trend with its e-commerce sector valued at an impressive ₹13 lakh crore (approximately $151 billion) in 2025. The country boasts 342 million online shoppers, reflecting the massive scale and potential of the digital marketplace. Alongside India, other countries such as China and several Southeast Asian nations are major contributors to this rapid growth. Thermal paper is extensively utilized in these markets due to its essential application in point-of-sale (POS) systems, printed receipts, and shipping labels.
Leading Market Participants
- Appvion Incorporated
- Domtar Corporation
- Hansol
- Henan Jianghe Paper Co., Ltd.
- Jujo Thermal Paper
- Rotolificio Bergamasco
- Koehler Paper Group
- Lecta Group
- Mitsubishi HiTech Paper
- Nakagawa Manufacturing (USA) Inc.
- Oji Holdings Corporation
- Ricoh Industry
- Thermal Solutions International Inc.
- Other Prominent Players
Table of Content
Chapter 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
Chapter 2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Sources
- 2.2. Quantitative Research
- 2.2.1. Primary & Secondary Sources
- 2.3. Breakdown of Primary Research Respondents, By Country
- 2.4. Assumption for the Study
- 2.5. Market Size Estimation
- 2.6. Data Triangulation
Chapter 3. Executive Summary: Global Thermal Paper Market
Chapter 4. Global Thermal Paper Market Overview
- 4.1. Industry Value Chain Analysis
- 4.1.1. Raw Material provider
- 4.1.2. Manufacturer
- 4.1.3. Distributor
- 4.1.4. End User
- 4.2. Industry Outlook
- 4.2.1. Factors promoting growth of thermal paper technology
- 4.3. PESTLE Analysis
- 4.4. Porter's Five Forces Analysis
- 4.4.1. Bargaining Power of Suppliers
- 4.4.2. Bargaining Power of Buyers
- 4.4.3. Threat of Substitutes
- 4.4.4. Threat of New Entrants
- 4.4.5. Degree of Competition
- 4.5. Market Dynamics and Trends
- 4.5.1. Growth Drivers
- 4.5.2. Restraints
- 4.5.3. Challenges
- 4.5.4. Key Trends
- 4.6. Covid-19 Impact Assessment on Market Growth Trend
- 4.7. Market Growth and Outlook
- 4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2020 - 2033
- 4.7.2. Market Volume Estimates and Forecast (Kilo Tons), 2020 - 2033
- 4.7.3. Price Trend Analysis, By Type
- 4.8. Competition Dashboard
- 4.8.1. Market Concentration Rate
- 4.8.2. Company Market Share Analysis (Value %), 2024
- 4.8.3. Competitor Mapping
Chapter 5. Global Thermal Paper Market Analysis, By Type
- 5.1. Key Insights
- 5.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 5.2.1. Top coated
- 5.2.2. Non-Top coated
Chapter 6. Global Thermal Paper Market, By Width
- 6.1. Key Insights
- 6.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 6.2.1. 50-60 Microns
- 6.2.2. 60-70 Microns
- 6.2.3. 70-80 Microns
- 6.2.4. 80-90 Microns
Chapter 7. Global Thermal Paper Market, By Printing Technology
- 7.1. Key Insights
- 7.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 7.2.1. Direct thermal
- 7.2.2. Thermal transfer
Chapter 8. Global Thermal Paper Market, By Application
- 8.1. Key Insights
- 8.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 8.2.1. Thermal Printers
- 8.2.2. Lottery systems and ticketing centres
- 8.2.3. Point of Sale Terminals
- 8.2.4. Document and Labels
- 8.2.5. Others
Chapter 9. Global Thermal Paper Market, By End User
- 9.1. Key Insights
- 9.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 9.2.1. Healthcare
- 9.2.2. Retail
- 9.2.3. Printing and Publishing
- 9.2.4. Entertainment and Transit
- 9.2.5. Packaging and Labelling
- 9.2.6. Others
Chapter 10. Global Thermal Paper Market Analysis, By Region
- 10.1. Key Insights
- 10.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 10.2.1. North America
- 10.2.1.1. The U.S.
- 10.2.1.2. Canada
- 10.2.1.3. Mexico
- 10.2.2. Europe
- 10.2.2.1. Western Europe
- 10.2.2.1.1. The UK
- 10.2.2.1.2. Germany
- 10.2.2.1.3. France
- 10.2.2.1.4. Italy
- 10.2.2.1.5. Spain
- 10.2.2.1.6. Rest of Western Europe
- 10.2.2.2. Eastern Europe
- 10.2.2.2.1. Poland
- 10.2.2.2.2. Russia
- 10.2.2.2.3. Rest of Eastern Europe
- 10.2.2.1. Western Europe
- 10.2.3. Asia Pacific
- 10.2.3.1. China
- 10.2.3.2. India
- 10.2.3.3. Japan
- 10.2.3.4. Australia & New Zealand
- 10.2.3.5. South Korea
- 10.2.3.6. ASEAN
- 10.2.3.7. Rest of Asia Pacific
- 10.2.4. Middle East & Africa
- 10.2.4.1. UAE
- 10.2.4.2. Saudi Arabia
- 10.2.4.3. South Africa
- 10.2.4.4. Rest of MEA
- 10.2.5. South America
- 10.2.5.1. Argentina
- 10.2.5.2. Brazil
- 10.2.5.3. Rest of South America
- 10.2.1. North America
Chapter 11. North America Thermal Paper Market Analysis
- 11.1. Key Insights
- 11.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 11.2.1. By Type
- 11.2.2. By Width
- 11.2.3. By Printing Technology
- 11.2.4. By End User
- 11.2.5. By Country
Chapter 12. Europe Thermal Paper Market Analysis
- 12.1. Key Insights
- 12.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 12.2.1. By Type
- 12.2.2. By Width
- 12.2.3. By Printing Technology
- 12.2.4. By End User
- 12.2.5. By Country
Chapter 13. Asia Pacific Thermal Paper Market Analysis
- 13.1. Key Insights
- 13.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 13.2.1. By Type
- 13.2.2. By Width
- 13.2.3. By Printing Technology
- 13.2.4. By End User
- 13.2.5. By Country
Chapter 14. Middle East & Africa Thermal Paper Market Analysis
- 14.1. Key Insights
- 14.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 14.2.1. By Type
- 14.2.2. By Width
- 14.2.3. By Printing Technology
- 14.2.4. By End User
- 14.2.5. By Country
Chapter 15. South America Thermal Paper Market Analysis
- 15.1. Key Insights
- 15.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 15.2.1. By Type
- 15.2.2. By Width
- 15.2.3. By Printing Technology
- 15.2.4. By End User
- 15.2.5. By Country
Chapter 16. US Thermal Paper Market Analysis
- 16.1. Key Insights
- 16.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 16.2.1. By Type
- 16.2.2. By Width
- 16.2.3. By Printing Technology
- 16.2.4. By End User
Chapter 17. Canada Thermal Paper Market Analysis
- 17.1. Key Insights
- 17.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 17.2.1. By Type
- 17.2.2. By Width
- 17.2.3. By Printing Technology
- 17.2.4. By End User
Chapter 18. Mexico Thermal Paper Market Analysis
- 18.1. Key Insights
- 18.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 18.2.1. By Type
- 18.2.2. By Width
- 18.2.3. By Printing Technology
- 18.2.4. By End User
Chapter 19. UK Thermal Paper Market Analysis
- 19.1. Key Insights
- 19.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 19.2.1. By Type
- 19.2.2. By Width
- 19.2.3. By Printing Technology
- 19.2.4. By End User
Chapter 20. Germany Thermal Paper Market Analysis
- 20.1. Key Insights
- 20.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 20.2.1. By Type
- 20.2.2. By Width
- 20.2.3. By Printing Technology
- 20.2.4. By End User
Chapter 21. France Thermal Paper Market Analysis
- 21.1. Key Insights
- 21.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 21.2.1. By Type
- 21.2.2. By Width
- 21.2.3. By Printing Technology
- 21.2.4. By End User
Chapter 22. Italy Thermal Paper Market Analysis
- 22.1. Key Insights
- 22.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 22.2.1. By Type
- 22.2.2. By Width
- 22.2.3. By Printing Technology
- 22.2.4. By End User
Chapter 23. Spain Thermal Paper Market Analysis
- 23.1. Key Insights
- 23.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 23.2.1. By Type
- 23.2.2. By Width
- 23.2.3. By Printing Technology
- 23.2.4. By End User
Chapter 24. Poland Thermal Paper Market Analysis
- 24.1. Key Insights
- 24.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 24.2.1. By Type
- 24.2.2. By Width
- 24.2.3. By Printing Technology
- 24.2.4. By End User
Chapter 25. Russia Thermal Paper Market Analysis
- 25.1. Key Insights
- 25.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 25.2.1. By Type
- 25.2.2. By Width
- 25.2.3. By Printing Technology
- 25.2.4. By End User
Chapter 26. Rest of Europe Thermal Paper Market Analysis
- 26.1. Key Insights
- 26.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 26.2.1. By Type
- 26.2.2. By Width
- 26.2.3. By Printing Technology
- 26.2.4. By End User
Chapter 27. China Thermal Paper Market Analysis
- 27.1. Key Insights
- 27.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 27.2.1. By Type
- 27.2.2. By Width
- 27.2.3. By Printing Technology
- 27.2.4. By End User
Chapter 28. Japan Thermal Paper Market Analysis
- 28.1. Key Insights
- 28.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 28.2.1. By Type
- 28.2.2. By Width
- 28.2.3. By Printing Technology
- 28.2.4. By End User
Chapter 29. India Thermal Paper Market Analysis
- 29.1. Key Insights
- 29.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 29.2.1. By Type
- 29.2.2. By Width
- 29.2.3. By Printing Technology
- 29.2.4. By End User
Chapter 30. South Korea Thermal Paper Market Analysis
- 31.1. Key Insights
- 31.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 31.2.1. By Type
- 31.2.2. By Width
- 31.2.3. By Printing Technology
- 31.2.4. By End User
Chapter 31. Australia & New Zealand Thermal Paper Market Analysis
- 31.1. Key Insights
- 31.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 31.2.1. By Type
- 31.2.2. By Width
- 31.2.3. By Printing Technology
- 31.2.4. By End User
Chapter 32. Southeast Asia Thermal Paper Market Analysis
- 32.1. Key Insights
- 32.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 32.2.1. By Type
- 32.2.2. By Width
- 32.2.3. By Printing Technology
- 32.2.4. By End User
Chapter 33. Malaysia Thermal Paper Market Analysis
- 33.1. Key Insights
- 33.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 33.2.1. By Type
- 33.2.2. By Width
- 33.2.3. By Printing Technology
- 33.2.4. By End User
Chapter 34. Singapore Thermal Paper Market Analysis
- 34.1. Key Insights
- 34.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 34.2.1. By Type
- 34.2.2. By Width
- 34.2.3. By Printing Technology
- 34.2.4. By End User
Chapter 35. Indonesia Thermal Paper Market Analysis
- 35.1. Key Insights
- 35.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 35.2.1. By Type
- 35.2.2. By Width
- 35.2.3. By Printing Technology
- 35.2.4. By End User
Chapter 36. Rest of SEA Thermal Paper Market Analysis
- 36.1. Key Insights
- 36.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 36.2.1. By Type
- 36.2.2. By Width
- 36.2.3. By Printing Technology
- 36.2.4. By End User
Chapter 37. Rest of APAC Thermal Paper Market Analysis
- 37.1. Key Insights
- 37.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 37.2.1. By Type
- 37.2.2. By Width
- 37.2.3. By Printing Technology
- 37.2.4. By End User
Chapter 38. UAE Thermal Paper Market Analysis
- 38.1. Key Insights
- 38.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 38.2.1. By Type
- 38.2.2. By Width
- 38.2.3. By Printing Technology
- 38.2.4. By End User
Chapter 39. Saudi Arabia Thermal Paper Market Analysis
- 39.1. Key Insights
- 39.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 39.2.1. By Type
- 39.2.2. By Width
- 39.2.3. By Printing Technology
- 39.2.4. By End User
Chapter 40. South Africa Thermal Paper Market Analysis
- 40.1. Key Insights
- 40.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 40.2.1. By Type
- 40.2.2. By Width
- 40.2.3. By Printing Technology
- 40.2.4. By End User
Chapter 41. Rest of MEA Thermal Paper Market Analysis
- 41.1. Key Insights
- 41.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 41.2.1. By Type
- 41.2.2. By Width
- 41.2.3. By Printing Technology
- 41.2.4. By End User
Chapter 42. Brazil Thermal Paper Market Analysis
- 42.1. Key Insights
- 42.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 42.2.1. By Type
- 42.2.2. By Width
- 42.2.3. By Printing Technology
- 42.2.4. By End User
Chapter 43. Argentina Thermal Paper Market Analysis
- 43.1. Key Insights
- 43.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 43.2.1. By Type
- 43.2.2. By Width
- 43.2.3. By Printing Technology
- 43.2.4. By End User
Chapter 44. Rest of South America Thermal Paper Market Analysis
- 44.1. Key Insights
- 44.2. Market Size and Forecast, 2020 - 2033 (US$ Mn & Kilo Tons)
- 44.2.1. By Type
- 44.2.2. By Width
- 44.2.3. By Printing Technology
- 44.2.4. By End User
Chapter 45. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
- 45.1. Appvion Incorporated
- 45.2. Domtar Corporation
- 45.3. Hansol
- 45.4. Henan Jianghe Paper Co. Ltd.
- 45.5. Jujo Thermal Paper
- 45.6. Rotolificio Bergamasco
- 45.7. koehler paper group
- 45.8. Lecta Group
- 45.9. Mitsubishi HiTech Paper
- 45.10. Nakagawa Manufacturing (USA) Inc
- 45.11. Oji Holdings Corporation
- 45.12. Ricoh Industry
- 45.13. Thermal Solutions International Inc
- 45.14. Other Prominent Players
