Thermal Paper Market 2020 and Forecast 2021-2027

                                          
Report Overview: Thermal Paper Market


The global thermal paper market size was valued at USD 2.8 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2027. Increasing point of sale terminal utility in services for billing and labeling is anticipated to drive the market over the forecast period 2021-2027. Moreover, the increasing product utilization in the food and beverage industry is likely to support the growth. The product is gaining wide acceptance in the billing operations as it offers the ability to print fast and efficiently. Moreover, the durability and print precision offered by the paper makes it easy to read the barcode and thus have gained a considerable share in the paper utilities, which is expected to drive its demand over the forecast period.

The U.S. thermal paper market has witnessed an accelerating growth in the past few years and is estimated to upscale at a CAGR of 2.5% over the forecast period. Well –established retail sector coupled with rising trends for instant billing in shopping centers and malls has propelled the market growth. Moreover, tagging and labeling operations for goods in the industries are further likely to support the market.

In light of providing detailed information on the products, players in food & beverage and pharmaceutical manufacturing are focusing on product utilization for labels and tags. Moreover, increasing the usage of RFID tags in the healthcare and medical industry is anticipated to boost the product demand over the projected period.

Transaction receipts printed on thermal paper are gaining popularity as it offers enhanced durability as compared to other printing papers. These are widely used in retail, warehousing and hospital billing applications. Thus, the growth in the utilization of POS terminals is likely to support the market.

Increasing awareness regarding less utilization of paper for billing applications and rising online transactions for e-commerce applications have increased the digital receipts. Thus, negatively impacting market growth. Fluctuation in the raw material prices and their availability are other factors hampering the growth.

Application Insights: Thermal Paper Market

The point of sale application segment is expected to grow at a CAGR of 4.5% over the forecast period, owing to increasing billing applications in the retail industry across the globe. In addition, a growing number of supermarkets and hypermarkets in leading economies across the globe are likely to drive the POS terminal applications and thus supporting the market growth.

The mobile POS terminals are widely used in ticketing applications in buses, trains, and other commercial transports. Moreover, these machines are used for material management in sectors such as government facilities, manufacturing units, and retail centers. An increasing number of POS terminal in public facilities are likely to support the product demand in the estimated time.
Tags & label application segment accounted for a significant share in 2019 and is likely to ascend at a moderate rate over the projected period. Growing demand for specialized tags & labels from the pharmaceutical, retail, healthcare, and food & beverage sector is likely to positively impact the product demand

The labels and tags applied to the food items are generally in the form of paper and hallmarks that displays product details and helps to avoid duplication of the product. The food producers are adopting superior quality thermal paper tags and labels to decorate the food items. The well-established packaged food industry in North America, Europe, and the Asia Pacific are likely to augment the demand for specialty labels and tags.

Regional Insights: Thermal Paper Market

Asia Pacific lead the market and accounted for more than 33.0% share of the global revenue in 2019. North America lead the global thermal paper market in 2019, owing to the well-established retail and food industry in the region, which has majorly contributed to the ascending product demand for billing operations. Moreover, the growing trend for shopping online and increased related warehousing operations are projected to support the industry over the forecast period.

The U.S. accounted for the largest share in North America for consumption in 2019 and is anticipated to grow at a CAGR of over 3.6% over the estimated time. The presence of prominent producers and wide utilization in the application industries including pharmaceutical packaging, food & beverage, retail and others are likely to have a positive impact on the product demand.
Europe contributed to the sizable revenue share in 2019 and is anticipated to grow at a moderate rate in the projected time. Stringent regulations regarding the environment and health have resulted in the strict norms for utilization of thermal paper that contains bisphenol A, thus has affected the product demand. However, technological developments in the region are anticipated to provide opportunities for the players.

In the Asia Pacific, retail and food & beverage industries are projected to be the largest consumers. Increasing demand for packaged food products in growing economies of China and India is likely to generate the demand specialty labels and tags thus are estimated to impact the thermal paper industry on a positive note.

Key Companies & Market Share Insights: Thermal Paper Market

Leading players in the industry are focusing on the production of thermal paper in various dimensions and roll formats in order to fit into various printing applications. Raw materials such as bisphenol S are widely being accepted as a substitute for bisphenol A, as it is banned in major economies across the globe. These players are engaged in product enhancements and improvement in products’ printing ability. The recent shortage of leuco dye and the demand-supply gap across the global supply chain have negatively affected the product prices. Some of the prominent players in the thermal paper market include:

Key companies Profiled: Thermal Paper Market Report

 	
Appvion Incorporated
 	
Oji Holdings Corporation
 	
Nakagawa Paper Rolls
 	
Hansol Paper
 	
Siam Paper
 	
Ricoh Company, Ltd.
 	
Mitsubishi Paper Mills (MPM)

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the global thermal paper market on the basis of application and region:

Application Outlook (Volume, Kilotons, Revenue, USD Million; 2016 - 2027)

 	
POS
 	
Lottery & Gaming
 	
Tags & Label
 	
Others