New York, United States , July 25, 2024 (GLOBE NEWSWIRE) -- The Global Thermal Paper Market Size is to Grow from USD 4.52 Billion in 2023 to USD 7.21 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.78% during the projected period.
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Thermal paper is a special type of paper that has been treated with heat-sensitive chemicals that enable it to save images or text without the need for ink. It is frequently utilized in portable electronics, including fax machines, casino point-of-sale systems, registers for cash, credit card terminals, kiosks, pay-at-the-pump machines, and mobile printers. Throughout the projection period, these gadgets will be utilized extensively in commerce, gambling, food and beverage, tourist and hospitality, banking, financial services, and insurance industries. The growing need for labeling that offers a broad and comprehensive overview of commodities, notably in the food and beverage industry, is driving growth in the global thermal paper market. Furthermore, a variety of industries, including transportation, finance, and hospitality, require quick and efficient printing solutions, which supports market expansion. Given the ongoing digitalization trend, thermal paper is widely utilized due to its low cost, durability, and compatibility with thermal printers, which is boosting market expansion. However, Changes in raw material costs could have an impact on the thermal paper market.
Browse key industry insights spread across 189 pages with 111 Market data tables and figures & charts from the report on the "Global Thermal Paper Market Size, Share, and COVID-19 Impact Analysis, By Application (POS Applications, Medical, Plotting and Recording, Self-Adhesive Labels), By Printing Technology (Thermal Transfer, and Direct Thermal), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The POS segment is expected to have the biggest market share during the forecast period.
Based on application, the global thermal paper market is categorized into POS applications, medical, plotting and recording, and self-adhesive labels. Among these, the pos segment is expected to have the biggest market share during the forecast period. Developing global supermarkets and hypermarkets are predicted to boost POS machine use and market growth. Mobile point-of-sale machines are frequently utilized for bus, rail, and other transportation ticketing applications. Additionally, these devices have applications for material management in enterprises, government buildings, and retail establishments. The POS category is expected to take a leadership position in this market in terms of quantity, driven mostly by the growing popularity of POS devices, particularly in Europe and Asia.
The direct thermal category is expected to drive the global thermal paper market throughout the forecast period.
Based on printing technology, the global thermal paper market is categorized into thermal transfer and direct thermal. Among these, the direct thermal category is expected to drive the global thermal paper market throughout the forecast period. The direct thermal technique is a simple and economical way to coat thermal paper with a hot-sensitive layer. When heat is applied to a thermal printer, the paper changes color, producing text, images, or barcodes without the use of ribbons or ink. Considering the simplicity and low cost, the approach has been gaining popularity in applications such as receipt printing, shipping tags, and point-of-sale systems. Direct thermal prints fade progressively when exposed to heat, light, or friction, hence they are best suited for applications that require short-term print durability.
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Asia-Pacific is predicted to account for the greatest market share throughout the projection period.
Asia-Pacific is predicted to account for the greatest market share throughout the projection period. The explosive growth of the business, together with the increasing need for healthcare and pharmaceutical items in the region, has triggered an increase in the requirement for thermal paper for billing activities. Moreover, the region's growing acceptance of online purchasing has aided the market's expansion. Additionally, the market's expansion is being fueled by a renewed focus on efficiency and cost-effectiveness. Aside from that, the growing need for thermal paper in gaming applications benefits the area sector.
North America is expected to expand at the fastest CAGR throughout the projection period. The growing use of thermal paper in the food service industry helps to drive market expansion. Furthermore, an increasing demand for high-quality thermal paper products capable of creating sharp and long-lasting prints drives market expansion in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the thermal paper market include Gold Huasheng Paper Co. Ltd, Henan Province JiangHe Paper Co. Ltd, Thermal Solutions International Inc, Iconex LLC, Twin Rivers Paper Company, Rotolificio Bergamasco Srl, Jujo Thermal Ltd, Oji Holdings Corp., Appvion Inc, Koehler Group, Mitsubishi Paper Mills Ltd, Hansol Paper Co. Ltd, Others.
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Recent Developments
- In February 2024, Lecta enhanced its Termax thermal product line by introducing two new high-quality grades, Termax TC20X and Termax TC20XB. These new grades of top-coated thermal paper are designed exclusively for self-adhesive label applications.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global thermal paper market based on the below-mentioned segments:
Global Thermal Paper Market, By Application
- POS Applications
- Medical
- Plotting and Recording
- Self-Adhesive Labels
Global Thermal Paper Market, By Printing Technology
- Thermal Transfer
- Direct Thermal
Global Thermal Paper Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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