Luton, Bedfordshire, United Kingdom, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Thermal Paper Market.
The Global Thermal Paper Market is expected to grow at more than 5.7% CAGR from 2019 to 2028. It is expected to reach above USD 6.2 billion by 2028 from a little above USD 3.9 billion in 2019.
Market Overview
Thermal paper is a heat-activated specialty paper that changes color when heat is applied to it. This paper is created by using dyes and developers that are heat-sensitive. It is used in thermal printers, specifically in cost-effective or lightweight devices such as including equipment, sales register, and also credit card terminals.
During the manufacturing process, these dyes and developers are applied in varying ways, depending on the manufacturer. However, there are some processing similarities that all thermal papers share.
Thermal paper is designed to eliminate the need to spend hundreds and thousands of dollars on ink cartridges over the lifespan of your printer. This paper is most commonly used for printing receipts, invoices, packing lists, and delivery documents. Printers that use thermal paper do not require the use of any ink whatsoever.
The thermal paper acts as a recording media to be printed through a thermal printer via heat. Images are created through the direct transfer of thermal energy onto this paper. The demand for thermal papers will increase with their growing use in making lottery and gaming tickets.
Widespread acceptance in the printing and packaging industry due to its high mobility, noise reduction, and full graphics capability is the key industrial parameter for the thermal paper market demand.
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| Report Attribute | Details |
| Market size value in 2023 | USD 3.9 billion |
| Revenue forecast in 2030 | USD 6.2 billion |
| Growth rate | CAGR of 5.7% from 2023 to 2028 |
| Base year for estimation | 2021 |
| Historical data | 2017 - 2020 |
| Forecast period | 2023 - 2028 |
| Quantitative units | Volume in kilotons, revenue in USD million/billion and CAGR from 2022 to 2028 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Application, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; Brazil; Saudi Arabia |
| Key companies profiled | Ricoh Company Ltd.; Oji Holdings Corporation; Appvion Inc; Koehler Group; Mitsubishi Paper Mills Limited; Hansol Paper Co. Ltd.; Gold Huasheng Paper Co. Ltd.; Henan Province JiangHe Paper Co. Ltd.; Thermal Solutions International Inc.; Jujo Thermal Limited; Rotolificio Bergamasco Srl; NAKAGAWA Manufacturing Inc.; Twin Rivers Paper Company; Iconex LLC |
| Customization scope | Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
Future of Thermal Paper
The following are 3 predictions for the thermal paper market. It will help you paint an accurate picture of the future thermal paper market, and it will also help you develop business strategies and organize sales by understanding the trends and identifying the best opportunities.
- Thermal Paper Market Will Shrink
The concept of paperless, electronic receipts – “e-receipts” – becomes more feasible as increasingly massive amounts of retail merchandising and business transactions take place online, as well as the growing use of electronic handheld devices and bank cards for everyday purchases in brick-and-mortar establishments. It is inevitable that e-receipts will gradually take the place of thermal paper receipts as the standard document for verifying all kinds of transactions.
- Printed Paper Market Share Will Increase
With the advent of near-universal internet access and portable electronic devices, advertising has become ubiquitous. An increasingly popular venue for reaching customers with advertising messages is by printing on a thermal paper receipt. It is also extremely cost-effective. A single, one-time magazine or television ad can run tens of thousands of dollars, whereas the ad printed on the back of a receipt costs only a few dollars more than a plain unprinted batch, and reaches every single customer of the business, often repeatedly.
- Competitiveness in the International Market Will Gradually Increase
At present, in the foreign industrial developed countries, the thermal paper industry is generally at a more advanced level, and the world’s large enterprises are mainly concentrated in Japan, the USA, Europe, etc. Meanwhile, foreign companies have more mature equipment, strong R & D capability, the technical level is in a leading position. But foreign companies manufacturing cost is relatively high, compared with china’s companies, the manufacturing cost is a competitive disadvantage, as the Chinese thermal paper production enterprise technology continues to improve, their share in the international market is increasing, and competitiveness in the international market gradually increase.
Market Dynamics
Thermal Paper Market: Drivers
- Increase the demand for eco-friendly paper
- Adoption of detailed labeling
- Demand of sustainable labeling practices
Thermal Paper Market: Restraints
Bisphenol A (BPA) is an organic synthetic compound that is found in many plastic containers such as plastic bottles, cans, and stretch wraps. As a color developer, it is also often part of the coating of thermal paper and barcode labels.
BPA has been of concern due to its hormone-like properties as an endocrine disruptor. It is suspected of having negative health effects and being connected to risks of cancer, diabetes, obesity, and developmental disorders. Fortunately, BPA-free thermal paper is available. Buying BPA-free paper will eliminate this risk to you and your customers and protect you from possible liability.
Thermal Paper Market: Opportunities
- Increase in the number of emerging markets
- Increasing number of product innovations
- Rise in strategic collaborations
- Increasing number of trading digital payment options
Regional Insights
The global market for thermal papers is expected to be dominated by North America due to the presence of major manufacturers, the increased adoption of advanced technologies, and increased research and development activities. In North America, the market for thermal papers is primarily driven by the growth of digital payments throughout the world.
U.S. residents suffer from widespread exposure to bisphenol A (BPA) and bisphenol S (BPS). After clocking out, cashiers who handle thermal papers containing BPS have significantly higher levels in their urine, indicating that thermal paper is a significant source of BPS exposure.
As of 2020, demand for thermal papers across Asia accounted for more than 1/3rd of the global revenue. The rapid expansion of the retail industry coupled with rising demand for healthcare and pharmaceutical products has spurred demand for thermal papers for billing operations. Emerging economies such as India, China, Japan, and South Korea are expected to emerge as the frontrunners in the Asian market for thermal papers.
Thermal Paper Market Segmentation Insights
By Type
- Top Coated: Top coated segment will grow at over 10% in the thermal paper market through 2025
- Non-Top Coated
Top-coated thermal paper is a versatile product. It will continue to maintain its space in the market owing to its phenomenal print quality. Crucial print media such as graphics, logos, warranty documents, and price quotes need to be in sublime form as they are the face of the company. These are referred to as transactional documents.
By Technology
- Direct Thermal
- Thermal Transfer
Direct thermal technology has witnessed a substantial increase in its adoption for shipping labels, compliance labels, receipts, kiosk tickets, visitor tags, and parking tickets. coupons.
This technology is the most preferred printing process in industries since the images or words are produced by the method of direct heat submission.
By Composition
- Phenol Based
- Phenol Free
By Thickness Type
- 60-80 microns
- 80-90 microns
By Width
- 2.25”
- 3.125”
- Others
By Applications
- POS Receipt
- Tags & Labels
- Tickets & Tokens
- Lottery & Gaming
- Medical
- Others
Cashless payments are widely adopted due to the availability of secure payment solutions and services. POS terminal machines feature real-time analytics and engage in fast bill processing, maintaining customer records and loyalty programs of retail stores. ATM and credit cards have special symbols for contactless payments and are easily read by POS machines.
By End User
- Retail Industry
- Healthcare
- Packaging & Labelling
- Printing & Publishing
- Entertainment & Transit
- Another End Uses
Labeling requirements in the food, the industry provides expiry date, price, and related information in brief. Thermal paper witness penetration as hallmarks and stickers, since it provides details of the constituents and removes prospects of duplication.
Thermal Paper Market Competitive Landscape
Some of the major companies are Ricoh, Appvion, Hansol, Mitsubishi Paper Mills, Jujo Thermal, Nakagawa Manufacturing, Thermal Solutions Internationals, and Domtar, Siam Paper Public Company Limited, Jujo Thermal Ltd., Shandong Chenming Paper Holdings Ltd.Oji Holdings Corporation, Koehler Paper Group, Appvion Operations, Inc.
May 25,2021: Ricoh receives Solar Impulse Efficient Solution Label for its GreenLine printing solution.
March 24, 2022: Oji Holdings Corporation has been managing the thermal paper business and has decided to expand the thermal paper production at KANZAN Spezialpapiere GmbH which currently produces and sells thermal and inkjet papers in Europe.
Oct. 6, 2021: Hansol Paper of South Korea has announced that export prices of printing and writing paper, thermal paper, and all kinds of label paper will increase by up to 15%, effective immediately.
05. December 2022: Mitsubishi HiTec Paper is increasing prices for its entire range of coated specialty papers worldwide by 7 to 9% for deliveries from 1 February 2023.
August 2022 - VPF, a German self-adhesive materials specialist, has expanded its portfolio with the addition of 1470579 blue clean 70 g/m2, a new chemical-free thermal paper. The product is suitable for direct food contact as an adhesive material. The new eco-receipts are gradually replacing the previous white versions to use more sustainable paper.
November 2021 - UPM Raflatac first to launch thermal paper labels with 100% recycled fibers UPM Raflatac’s new product range offers brand owners a way to increase the share of recycled materials in their packaging. This reduces the pressure on forests and enables a circular economy. The range is FSC certified, and the labels maintain the same functionalities as label material made from virgin fibers.
FAQS
- What is the current market size of this high-growth market?
- What is the overall growth rate?
- What are the key growth areas, applications, end uses, and types?
- Who are the important market players in the Thermal Paper market?
- What are the key strategies of these players?
- What technological developments are happening in this area?
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