The latest report by IMARC Group, titled “Thermal Paper Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global thermal Paper market size reached US$ 3.9 Billion in 2021. Thermal paper, also known as an audit roll, refers to a specialty paper used to print information without requiring conventional ink. It is coated with a mixture of heat-sensitive dyes and chemicals that can change color when exposed to heat. It is widely used in lightweight devices, such as fax, point-of-sale (POS) systems, casinos, credit card terminals, cash registers, kiosks, pay-at-the-pump, and mobile printers, to print information quickly and efficiently. In recent years, the increasing number of POS terminals in public facilities has escalated the demand for thermal paper across retail, gaming, food and beverage (F&B), tourism and hospitality, and banking, financial services, and insurance (BFSI) industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Thermal Paper Market Trends:
The market is primarily driven by the rising product adoption for printing labels, tickets, and receipts in grocery stores, shopping malls, gas stations, catering, gaming houses, and lottery systems. In addition, the surging sales of passenger vehicles are positively influencing the utilization of portable POS machines to issue parking tickets, which represents another major growth-inducing factor. Besides this, individuals are nowadays widely opting for digital payment methods at offline stores. This, coupled with the expanding retail sector, is escalating the demand for thermal paper to carry out POS transactions. Furthermore, the rising product adoption across healthcare and pharmaceutical industries in Radio-Frequency Identification (RFID) tags and the surging need for detailed descriptions of ingredients in food and beverage products to adhere to stringent labeling regulations are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 5.3 Billion by 2027, exhibiting a CAGR of 6% during the forecast period (2022-2027).
- Based on technology, the market has been bifurcated into direct thermal and thermal transfer.
- On the basis of the application, the market has been segregated into point of sale (PoS), lottery and gaming, tags and labels, and others
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Appvion Operations Inc, Gold Huasheng Paper Co. Ltd., Hansol Paper Ltd., Henan JiangHE Paper Co. Ltd, Jujo Thermal Ltd. (Nippon Paper Industries Co. Ltd), Koehler Group, Lecta Group, Mitsubishi Paper Mills Limited, Nakagawa Manufacturing Inc., Oji Holdings Corporation, Ricoh Company Ltd. and Thermal Solutions International Inc.
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