Thermal Paper Market: Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

The report on the global thermal paper market provides qualitative and quantitative analysis for the period from 2021-2030. The thermal paper market was valued at USD 4,517.75 million in 2022 and is expected to reach USD 8,264.53 million in 2030, with a CAGR of 6.90% during the forecast period 2023-2030. The study on the thermal paper market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Thermal paper is used for printing. It changes color when exposed to heat & it does not need traditional ink. Thermal papers are coated with heat-sensitive dye and chemicals which cause color change when exposed to high temperatures. The chemicals like Bisphenol-A (BPA) or Bisphenol-S (BPS) are used in the printing process. It takes less time in printing allowing for faster labeling & packaging.

Increasing demands for POS systems from the retail sector and for labeling & packaging in the e-commerce sector are driving the Thermal paper markets. The rising retail industry, coupled with the growing number of sales transactions worldwide, propels the demand for thermal paper. The convenience, speed, and cost-effectiveness of thermal printing make it a preferred choice for retailers.

Direct Thermal is the Fastest-Growing Segment in the Type segment of the Thermal Paper Market

The direct thermal segment accounted for the biggest share owing to the rising demands F&B industry. The thermal transfer segment has shown promising growth this is because it produces crisp, high-definition text, graphics, and barcodes for optimal readability and scanning. The point-of-sale segment accounted for the largest share because of increased contactless payment signs on ATMs and credit cards. Increased demand for detailed labeling in the pharma industry has led to the growth of the tags and Label segment over the forecasted period.

The Asia-Pacific Holds a Significant Share of the Global Thermal Paper Market

The Asia Pacific region holds significant potential for the thermal paper market. The region's expanding retail sector, rapid urbanization, and increasing adoption of e-commerce are driving the demand for thermal paper in applications such as POS systems and tags & labels. Additionally, the growing healthcare industry, government initiatives promoting digitalization, and the emergence of eco-friendly thermal paper solutions present opportunities for market players in the Asia Pacific region.

Additionally, the Asia Pacific region has emerged as the dominant market in terms of revenue for the thermal paper industry. This can be attributed to the expansion of retail chains in the region, driven by the growing consumer preference for easily accessible goods. Furthermore, the increased industrial activities in the Asia Pacific region have led to a rise in demand for thermal paper in labeling applications.

Report Findings

1) Drivers

• The growing retail industry, coupled with the increasing number of sales transactions worldwide, further fuels the demand of the market.
• The rapid growth of e-commerce has significantly boosted the growth of the market

2) Restraints

• The high availability of alternative products hampers the market growth

3) Opportunities

• The global tourism and entertainment sectors are expected to create a substantial growth opportunity for the market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include

• 1. Key Opinion Leaders associated with the publisher
• 2. Internal and External subject matter experts
• 3. Professionals and participants from the industry

The primary research respondents typically include

• 1. Executives working with leading companies in the market under review
• 2. Product/brand/marketing managers
• 3. CXO level executives
• 4. Regional/zonal/country managers
• 5. Vice President level executives

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

• 1. Company reports and publications
• 2. Government/institutional publications
• 3. Trade and associations journals
• 4. Databases such as WTO, OECD, World Bank, and among others.
• 5. Websites and publications by research agencies

Segments Covered

The global thermal paper market is segmented on the basis of type, and application.

The Global Thermal Paper Market by Type

• Direct Thermal
• Thermal Transfer
• Others

The Global Thermal Paper Market by Application

• Point of Sale
• Tags & Labelling
• Entertainment & Transit
• Ticketing
• Lottery & Gaming

Company Profiles

The companies covered in the report include

• Beam Suntory, Inc.
• Oji Holdings Corporation
• Koehler Paper
• Appvion
• Ricoh
• MITSUBISHI PAPER MILLS LIMITED.
• HANSOL
• Jujo Thermal Ltd.
• NAKAGAWA Manufacturing (USA), Inc.
• Others

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the thermal paper market.
2. Complete coverage of all the segments in the thermal paper market to analyze the trends, developments in the global market, and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global thermal paper market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.