Thermal Paper Global Market Report 2024

Thermal Paper Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on thermal paper market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for thermal paper? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The thermal paper market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Top Coated; Non-Top Coated
• 2) By Technology: Direct Thermal; Thermal Transfer; Other Technologies
• 3) By Thickness: 60-80 Microns; 80-90 Microns
• 4) By Application: POS Receipts; Lottery and Gaming Tickets; Labels and Tags; Other Applications
• 5) By End User: Retail Industry; Healthcare; Packaging and Labelling; Printing and Publishing; Entertainment and Transit; Other End Users
• Companies Mentioned: Ricoh Corporation; Oji Holdings Corporation; Appvion InCorporated; Jujo Thermal Limited; Lecta Group
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Thermal paper is a specialized type of paper used for inkless printing, particularly in thermal printers or lightweight devices like cash registers, adding machines, and credit card terminals. It's cost-effective due to low energy usage and minimal maintenance requirements.

There are two primary types of thermal paper such as top-coated and non-top-coated. Top-coated thermal paper includes direct thermal labels with added protective coating. These papers utilize various technologies like direct thermal, thermal transfer, and others, with thickness ranging from 60-80 microns or 80-90 microns. They find applications in POS receipts, lottery and gaming tickets, labels and tags, and are utilized across industries such as retail, healthcare, packaging, printing, entertainment, transit, and more.

The thermal paper market research report is one of a series of new reports from The Business Research Company that provides thermal paper market statistics, including thermal paper industry global market size, regional shares, competitors with a thermal paper market share, detailed thermal paper market segments, market trends and opportunities, and any further data you may need to thrive in the thermal paper industry. This thermal paper market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The thermal paper market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period can be attributed to various factors such as the expansion of banking and financial services, the growth of the logistics and transportation sector, increased demand from the healthcare industry, government initiatives promoting digital receipts, the convenience associated with label printing, and considerations related to environmental impact and cost-effectiveness. These factors collectively contributed to the growth and adoption of thermal paper during that period.

The thermal paper market size is expected to see strong growth in the next few years. It will grow to $6.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to several factors, including the expansion of smart packaging applications, the increasing prevalence of contactless payment systems, rising demand in emerging economies, the transition towards sustainable thermal paper solutions, and the growing need for customization and branding options. Major trends expected during this forecast period encompass advancements in printing technologies, the rising use of BPA-free thermal papers, a focus on customization and specialty thermal paper offerings, expanding applications in retail and point-of-sale (POS) scenarios, as well as collaborations and partnerships within the industry. These trends are likely to significantly impact and drive the growth of the thermal paper sector in the coming years.

The thermal paper market is experiencing growth driven by the increasing demand for sustainable labeling practices. The rise in demand for sustainable direct thermal solutions is particularly notable in the e-commerce and logistics industries. With a growing emphasis on sustainable labeling standards, there is a shift towards the use of recycled direct thermal papers. A survey conducted by Cargill Incorporated in February 2022, called FATitudes, revealed that globally, more than half (55%) of customers are more inclined to purchase a packaged food item labeled with a sustainability promise. In the United States, 37% of participants expressed that a sustainability claim significantly influences their purchasing decisions, marking a six-point increase from 2019. This consumer preference for sustainability is expected to drive the thermal paper market's growth in the coming years.

The surge in the e-commerce industry is a significant factor propelling the growth of the thermal paper market. Thermal paper plays a crucial role in the e-commerce sector, utilized for printing shipping labels, order receipts, and packing slips. Its cost-effective, efficient, and convenient characteristics make it an ideal solution for transaction-related documents, barcode printing, and mobile printing devices, meeting the dynamic needs of the rapidly evolving online retail environment. According to the United States Department of Commerce, US e-commerce sales witnessed a substantial 39.0% increase in the first quarter of 2021 compared to the same period in 2020. This surge in e-commerce activity is a key driver contributing to the growth of the thermal paper market.

Technological advancement is a prominent trend in the thermal paper market, with major companies focusing on the development of innovative products. In August 2022, VFP Ink Technologies, a Germany-based company specializing in high-tech industrial inks and varnishes, introduced a new chemical-free thermal paper, 1470579 Blue Clean 70 g/m2. This product is suitable as a food-contact adhesive material and can be printed on commonly used direct thermal printers without the need for a developer. Featuring a four-layer structure, including a layer of protection against mechanical harm, this thermal paper stands out with its opacity, turning translucent when heated to reveal the printed picture. This technological advancement aligns with the industry's commitment to providing efficient and environmentally friendly solutions in the thermal paper market.

Prominent players in the thermal paper market are actively pursuing product development initiatives, introducing innovative offerings such as chemical-free thermal paper to gain a competitive advantage. This chemical-free thermal paper is specifically designed for direct food contact, presenting an environmentally friendly alternative to traditional white versions. Notably, in August 2022, VPF GmbH & Co KG, a Germany-based paints and adhesive manufacturing company, launched 1470579 Blue Clean 70 g/m2. This innovative thermal paper features a four-layer structure, comprising plain paper, a black pigment layer, an opaque functional layer creating the distinctive blue color, and a protective layer against mechanical damage. Importantly, it eliminates the need for chemical developers, and the printed image is physically created as the opaque layer turns transparent when heated, revealing the underlying black layer. Blue Clean thermal paper ensures high printability, resistance, legibility, and durability, with a print image lasting for at least 35 years without fading.

In a strategic move in September 2023, Quantum Capital Partners, a Germany-based investment company, completed the acquisition of the Flensburg paper mill from Mitsubishi HiTec Paper Europe GmbH. This acquisition provides Quantum Capital Partners with an expanded network and a center of expertise in the paper industry, complementing their previous investments and reinforcing their market position. Mitsubishi HiTec Paper Europe GmbH, the previous owner, is a Germany-based specialty paper company specializing in the production of coated specialty papers, including thermal paper, inkjet paper, and carbonless paper. These papers find diverse applications such as receipts, labels, and packaging. The acquisition strengthens Quantum Capital Partners' position in the thermal paper market, leveraging the expertise and capabilities gained from the Flensburg paper mill.

Major companies operating in the thermal paper market report are Ricoh Corporation, Oji Holdings Corporation, Appvion InCorporated, Jujo Thermal Limited, Lecta Group, Koehler Paper Group, Mitsubishi HiTec Paper Europe GmbH, Hansol Europe BV, Gold HuaSheng Paper Company Limited, Papierfabrik Wattens GmbH & Co. KG, Henan Province JiangHe Paper Company Limited, Thermal Solutions International Inc., Rotolificio BergamasCo. Srl, PM Company LLC, Nakagawa Manufacturing Co. Ltd., Siam Paper Co. Ltd., Nantong Xiujun Imp.& Exp.Co. Ltd., Zhejiang Youcheng New Materials Co. Ltd., Shanxi Oceano Paper Co. Ltd., Tianjin Jinlida Paper Co. Ltd., Jiangsu Guoli Science & Technology Co. Ltd., Xiandai Paper Co. Ltd., PapiCo. Ltd., Guofeng Fine Paper Co. Ltd., RP Paper Impex Pvt. Ltd., Apex Paper International Inc., Stellar Paper Products Private Limited, Daio Paper Corporation, TOPPAN PRINTING COMPANY Ltd., Canon Inc.

Asia-Pacific was the largest region in the thermal paper market in 2023. The regions covered in the thermal paper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the thermal paper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thermal paper market consists of sales of conventional thermal paper and synthetic-base thermal papers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.