Thermal Paper Market Overview
The global thermal paper market is projected to showcase strong growth in the coming years on account of the increasing demand for labels, tags, and invoice bills in verticals such as e-commerce, banking, entertainment, and retail. With the increasing consumer spending and purchasing power, the demand for thermal paper is projected to increase, which, in turn, would propel the market growth.
The thermal paper market has been categorized on the basis of application into point of sale (POS), lottery & gaming, tags & labels, and others. Of these, the POS category is expected to account for a significant share in the market throughout the forecast period (2021–2030), owing to the increasing application base of thermal paper in POS terminals. This includes its usage for ticketing in buses, trains, and other commercial forms of transport.
Geographically, Asia-Pacific (APAC) is expected to hold the largest market share throughout the forecast period. This can be ascribed to the booming retail and food & beverage industries in countries such as China, India, Japan, Vietnam, and South Korea. Moreover, the region has the presence of a large number of manufacturers. Besides, online sales are also boosting the demand for labels, tags, and bills. This, in turn, is expected to drive the growth of the thermal paper market in the region in the near future.
Thermal Paper Market Dynamics
Drivers
The market demand for thermal paper has witnessed notable growth in recent years, and the trend is likely to continue in the coming years as well, primarily on account of the surging demand for cost-effective, durable, and readable printing paper solutions for billing and ticketing applications. Thermal printing papers support high-definition imaging, so the image clarity is superior to that provided by conventional paper. Additionally, thermal paper printing machines do not require ink cartridge refiling, which, in turn, cuts down operational and maintenance costs. Such advantageous properties make it suitable for application in a wide range of billing, tagging, labelling, and ticketing applications, thereby driving the thermal paper market.
Restraints
Although thermal paper has a wide range of applications, its adoption is being hampered by the increasing awareness on digital transactions that are more sustainable in nature. In recent years, there has been tremendous growth in e-billing and online transactions, particularly for e-commerce applications, and this has affected the demand for paper-based tickets, bills, and invoices. An online transaction is relatively easy besides being paperless and environmentally sustainable. Additionally, the prices of chemicals, including bisphenol A, which are used in the production of thermal paper, are volatile in nature, which consequently impacts the cost of thermal paper. Such factors restrain the market growth to a certain extent.
Thermal Paper Market Competitive Landscape
Some of the key companies operating in the global thermal paper market are Appvion Incorporated, Oji Holdings Corporation, Nakagawa Manufacturing (USA) Inc., Hansol Paper Co., Siam Paper Décor Co. Ltd., Ricoh Company Ltd., and Mitsubishi Paper Mills Ltd.
The study provides the historical as well as the forecast size of the thermal paper market.
Thermal Paper Market Size Breakdown by Segments
The thermal paper market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Segmentation by Application
- Point of Sale (POS)
- Lottery & Gaming
- Tags & Labels
Geographical Analysis
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific (APAC)
- China
- India
- Japan
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
