According to the report by Expert Market Research (EMR), the global thermal paper market size is projected to grow at a CAGR of 5.8% between 2024 and 2032. Aided by the increasing demand for efficient labelling solutions in various industries, such as retail, healthcare, and logistics, the market is expected to grow significantly by 2032.
Thermal paper is a special type of paper that is coated with a material formulated to change colour when exposed to heat. It is used extensively in point-of-sale (POS) terminals, which include checkout counters in retail stores, as well as other devices such as ATM machines and thermal printers. In addition to its primary role in these sectors, thermal paper is also finding increasing applications in ticketing, lottery, and gaming industries.
The increasing adoption of POS systems and the burgeoning e-commerce sector are driving the global thermal paper market growth. As retail industries continue to adopt digitisation, the demand for efficient and quick billing and labelling solutions is surging. Thermal papers, which enable instant printing with clear and durable images, are thus becoming increasingly popular in various sectors.
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The rising demand for convenient and portable printing solutions in healthcare and logistics sectors is further contributing to the thermal paper market demand. For instance, in the healthcare sector, thermal paper is used for printing patient records, prescriptions, and diagnostic results, ensuring high-quality printouts that are resistant to factors such as oil, water, and heat.
The growing environmental concerns and stringent regulations regarding paper sustainability are encouraging manufacturers to innovate. As a result, the sector is witnessing the development of BPA-free and phenol-free thermal papers. These products, besides being environment-friendly, are also safer for human health, addressing growing consumer and regulatory concerns about potential risks associated with traditional thermal paper products.
The Asia Pacific region, led by China, Japan, and India, is expected to be a significant contributor to the global thermal paper market size due to the rapid expansion of the retail and logistics sectors in these countries. North America and Europe continue to be strong markets for thermal paper due to the high adoption rate of advanced POS systems and automated transaction systems in these regions.
Looking ahead, the growing trend towards digitisation and automation in retail, logistics, and healthcare sectors is likely to continue driving demand for thermal paper. Additionally, the development of more sustainable and health-friendly thermal paper options is expected to open new avenues for growth in the market.
Furthermore, with the integration of technologies like RFID and NFC in thermal paper products, the thermal paper market outlook is set to witness the emergence of ‘smart’ thermal paper solutions. These solutions are expected to offer features such as real-time tracking and enhanced data storage capabilities, thereby providing additional value to end-users and potentially opening up new, lucrative segments for the thermal paper market.
Thermal Paper Market Segmentation
The market can be divided based on application, technology, and region.
Market Breakup by Application
- POS
- Tags and Label
- Lottery and Gaming
- Others
Market Breakup by Technology
- Direct Thermal
- Thermal Transfer
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Thermal Paper Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global thermal paper market. Some of the major players explored in the report by Expert Market Research are as follows:
- Ricoh Company Ltd.
- Oji Holdings Corporation
- Appvion Operations, Inc.
- Koehler Paper
- Mitsubishi Paper Mills Limited
- Hansol Paper Co. Ltd
- Others
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