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According to the estimates by IMARC Group, the global thermal paper market is expected to witness a CAGR of 5% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries of thermal paper.
The rising application of thermal paper across several retail and distribution channels for printing labels, tickets, receipts, etc., represents one of the key drivers for the global thermal paper market.
The expanding utilization of Radio-Frequency Identification (RFID) tags in the healthcare and pharmaceutical sectors for maintaining charts and other medical items represents one of the key trends in the global thermal paper market.
On the basis of the technology, the market has been bifurcated into direct thermal and thermal transfer. Currently, direct thermal holds the majority of the total market share.
On the basis of the application, the market has been divided into point of sale (POS), lottery and gaming, tags and labels and others. Among these, point of sale (POS) represents the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global thermal paper market are 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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