Thermal Paper Market Opportunities: Expanding Use in Digital and Mobile Printing
The global thermal paper market size is expected to reach USD 5.56 billion by 2030, registering a CAGR of 4.3% over the forecast years, as per a new report by Grand View Research Inc. This growth is attributed to the rising usage of POS terminals for monetary transactions in applications such as warehouses, supermarkets, and retail outlets. Thermal papers are majorly used in printing receipts at POS terminals and in the production of tags used by industries such as pharmaceuticals and food and beverages to package and label their end-use products. Thermal papers are preferred over other modes of printing due to the lower cost of production, and maintenance of the printing set-up due to the lack of use of ribbons and ink in the printing process.
Access
the Thermal
Paper Market Size, Share & Trends Analysis Report By Application (POS,
Tags & Label, Lottery & Gaming), By Region (Asia Pacific, North
America, Middle East & Africa, Europe), And Segment Forecasts, 2024 - 2030
The increasing use of retail outlets and
supermarkets in developing economies such as China, Brazil, and India are
expected to augment the growth of the market during the forecast period. The rising
demand for specialty paper in packaging by e-commerce and logistics market
players is also expected to help in the market growth. However, rising
digitalization and increasing substitute products are expected to restrict the
market growth. Growing demand for food & beverage, FMCG, and electronics
goods in the Middle East and African countries considering population growth
and urbanization in major markets of Saudi Arabia, UAE, and Qatar is expected
to increase the use of POS terminals, tags, and labels. In addition, favorable
support for promoting investments at the domestic level is expected to have a
positive impact on the market growth in the region.
The market is anticipated to witness strong
competition during the forecast period on account of the growing demand for
thermal paper from the end-use industries such as ATMs, e-commerce industries,
retail, and others. Public and private companies operating in the market are
increasingly investing in the development of new products and new manufacturing
technologies to optimize the production process. They are also focusing on
expanding their production facilities to maintain their supply chain for
thermal paper. Major players in the industry have established production units
in different regions to cater to specific geographical locations. They also use
other distribution channels in local regions such as agreements with
roll-converters to ensure continuous product supply. Manufacturers also engage
in direct supply to end-users such as POS and label manufacturers.
Thermal
Paper Market Report Highlights
·
POS application segment
dominated the market with a market share of 64.2% in terms of revenue in 2023
due to expansions in retail outlets in emerging economies in the Asia Pacific
region.
·
The tags and labels application
segment is expected to show significant growth during the forecast period due
to the rising e-commerce sector which has led to a rise in the use of thermal
papers for labels and packaging.
·
The Asia Pacific dominated the
market with a market share of about 34.7% in terms of volume due to the
increased investment in the region in manufacturing industries leading to a
rise in demand for thermal paper.
·
Central and South America are
expected to show significant growth during the forecast period due to the
rising manufacturing and industrial activities in the region leading to a rise
in the use of thermal paper in labeling.
·
The market is expected to show
slow growth due to the increase in digitalization and reduced use of printing
across end-uses such as monetary transactions. The presence of internal
substitutes is also expected to hamper market growth.
·
The market consists of limited
players who control most of the global market. Strategies followed by key
players include vertical integration, localized production units, and product
innovation to gain a competitive edge in the market.
Order your free sample copy of “Thermal Paper Market Report 2024 -
2030, published by Grand View Research
Key
Thermal Paper Companies:
·
Oji Holdings Corporation
·
Appvion Inc
·
Koehler Group
·
Mitsubishi Paper Mills Limited
·
Hansol Paper Co. Ltd.
·
Gold Huasheng Paper Co. Ltd.
·
Henan Province JiangHe Paper
Co. Ltd.
·
Thermal Solutions International
Inc.
·
Iconex LLC
·
Twin Rivers Paper Company
·
Rotolificio Bergamasco Srl
·
Jujo Thermal Limited
About Grand View Research:
Grand View Research,
Inc. is a market research and consulting company that provides off-the-shelf,
customized research reports and consulting services. To help clients make
informed business decisions, we offer market intelligence studies, ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials, and energy. With a deep-seated understanding of varied
business environments, Grand View Research provides strategic objective
insights. For more information, visit www.grandviewresearch.com
Contact:
Sherry James
Corporate Sales
Specialist, USA
Grand View Research,
Inc.
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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