Global Thermal Paper Market Report and Forecast 2024-2032

Global Thermal Paper Market Outlook

The global thermal paper market attained a value of USD 4.33 billion in 2023. The thermal paper market is further expected to grow in the forecast period of 2024-2032 at a CAGR of around 5.8% to reach USD 7.20 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Thermal Paper Market Key Trends

Traditionally, thermal paper used BPA as a developer to facilitate the printing of images using heat. However, with latest pharmacological studies outlining negative health effects of BPA through skin absorption, such as disruption of endocrine systems and lowered fertility rates, BPS usage is slowly being replaced in the thermal paper industry.

Guided by regulations on BPA usage by the United States EPA and the European Union, BPA is being phased out. Based on the thermal paper market analysis, alternatives include BPS, BPS-MAE, d-8, Pergafast-201, d-90, and TGSA are growing in usage as they are considered safer for handling.

Over the past years, usage of ATMs has increased, driven by growing disposable incomes of people worldwide. Thermal paper is commonly used to print receipts for ATM transactions, and with the continued rise of ATM usage, the thermal paper market growth is likely to be bolstered by increased demands from ATMs.

Direct thermal printing technology holds a leading segment in the thermal paper market share due to the small size of direct thermal printers which support their mobility. Market reports on paper industry highlight that the direct thermal printing process is low cost, making it suitable for usage in the retail and logistics industries.

In the forecast period the thermal transfer printing technology segment is projected to expand globally. This is due to the ability of thermal transfer printers to produce higher quality and more durable prints on varying paper qualities. The thermal paper market report identifies that the versatility of thermal transfer printers and their long lasting printheads, have resulted in a preference for their usage to produce tags and printing labels that are attractive and durable.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Properties and Applications

The thermal paper refers to a special paper that transforms the colour without the use of conventional ink when exposed to heat. This effect is achieved by covering the paper in the production process in heat-sensitive dyes and developers.

Based on technology, the thermal papers market is divided into:

• Direct Thermal

• Thermal Transfer

• Others

The thermal papers market can be broadly categorised based on its applications into:

• POS

• Tags and Label

• Lottery and Gaming

• Others

The EMR report looks into the regional thermal paper markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Thermal Paper Market Analysis

Across emerging regions, such as India, the advent of digitalisation has fuelled the need for POS systems and consequently increased the demand for thermal paper in the market. The thermal paper market in US is dominated by the use of thermal papers in POS terminals in retail stores and in warehousing and logistics applications.

According to the thermal paper industry analysis, the increasing significance of product labelling has had a positive effect on the market for thermal paper. The thermal paper also provides excellent colouring at high speeds and an extremely durable finish, which does not fade easily. This feature enables the use of printed bar codes for POS food labelling and other applications, which have increased the demand worldwide for the thermal paper during manufacture and shipping.

Many distributors, use digital receipt software to work with existing POS systems and only print customer receipts on demand which may restrict the growth of the market for thermal paper.

Competitive Landscape

The thermal paper industry report presents a detailed analysis of the following key players in the global thermal paper market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Ricoh Company, Ltd. (TYO: 7752)

• Oji Holdings Corporation

• Appvion Incorporated

• Koehler Paper

• Mitsubishi Paper Mills (MPM) Limited

• Hansol Paper Co. Ltd

• Others

The EMR report gives an in-depth insight into the thermal paper market by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

Key Highlights of the Report