November 23, 2018: Adroit Market Research published a study titled, “Global Thermal Paper Market Size 2017 By Technology (Direct thermal, Thermal transfer, Others), By Application (POS, Lottery and Gaming, Tags & Labels, Others), By Region and Forecast 2018 to 2025”. The research study provides an in-depth analysis from a period ranging from 2015 to 2025, where 2015 to 2017 show the actual demand of thermal paper with forecast between 2018 and 2025. The global thermal paper market report also includes key strategies adopted by major industry participants, pricing analysis along with qualitative analysis of the market such as drivers, restrains, opportunities, current market trends, value chain, Porter’s Five Forces analysis and PESTEL analysis. Additionally, the report also covers latest technological trends across different applications beneficial for thermal paper market growth.
The global thermal paper market is anticipated to expand over a CAGR of 10.6% over the forecast period from 2018 to 2025. This is majorly due to the increasing use of thermal paper in POS terminals since they provide high-temperature stability, barcode scan ability, and moisture resistance. Specialized fields such as healthcare sectors require high-quality images produced by thermal printing for technical printouts such as electrocardiograms (ECGs), and prescription labels where accuracy is necessary. Therefore, rising usage of POS terminals for billing and high volume printouts in retail, food & beverage, and pharmaceutical sectors is a key factor expected to drive the demand for thermal paper market over the forecast period.
Rising awareness about the benefits of POS terminals, owing to the technological advancement such as mobile wallets, online banking demand have secure ways for making transactions. Budding use of thermal paper for transactions among retailers, and recent government initiatives to encourage cashless transactions are some of the other factors driving the thermal paper demand. Surging demand for point of sale (POS) terminals as a substitute to cash registers in the hospitality, warehouse and medical sectors is expected to be a favourable factor for the global thermal paper market growth over the forecast period.
North America dominated the global thermal paper market and is expected to maintain its leading position over the next seven years. On the other hand, Asia Pacific is projected to rise rapidly and is projected to witness revenue growth at a CAGR of 11.5% from 2018 to 2025. Rising per capita income, purchasing power of the middle-income population, developing food & beverage, and tourism sectors is driving the need for POS and labelling applications in this region. Also, certain governmental initiatives mandating the labelling of fresh and processed foods is another factor supplementing the global thermal paper market growth.
In 2013, the Consumer Affairs department of Japan mandated the labelling of fresh and processed foods. This strategy by Japanese government is a favorable development towards the use of thermal paper in the end-use sectors.
Key players in the global thermal paper market are consolidating to maintain its competitive edge over the other manufacturers. For instance, in 2017, Appvion Inc., announced plans to consolidate its carbonless paper coating and rewinding operations in Appleton, Wisconsin, USA. This strategy by Appvion is likely to serve the current and future demand for carbonless products and will help improve its position by increasing its manufacturing capacity and logistics operations. Global leaders such as Ricoh Company Ltd, Koehler Paper, and Hansol Paper are under the process of maintaining existing clients and venturing into new markets to increase revenue profits and maintain company growth.
Key segments of the Global Thermal Paper Market
Technology Overview, 2015-2025 (Kilo tons) (USD Million)
- Direct thermal
- Thermal transfer
Application Overview, 2015-2025 (Kilo tons) (USD Million)
- Point of Sale (POS)
- Lottery and Gaming
- Tags and Labels
Regional Overview, 2015-2025 (Kilo tons) (USD Million)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of MEA