The growing demand for labelling and the growth of the packaged food and retail industries worldwide are driving the growth of the thermal paper market.
Thermal paper market is projected to reach $5.8 billion by 2030, growing at a CAGR of 4.8% during the forecast period of 2023-2030. Thermal paper is a heat-sensitive paper that is used in a variety of applications, such as receipts, tickets, medical records, and boarding passes. It is a rapidly growing industry that caters to various sectors, including retail, hospitality, healthcare, and transportation.
Thermal paper’s core attribute lies in thermal printing. Therefore, it is imperative to evaluate not only traditional paper properties such as thickness, grammage, and strength but also the quality of thermal printing and the stability of the printed images. Additionally, thermal paper should have the capability to be pre-printed using conventional printing methods like offset or flexography.
Thermal Paper Market Current and Future Trends
Thermal paper market is growing due to the increasing importance of product labelling. Thermal paper provides excellent colour at high speeds and a durable finish that does not fade easily. This makes it ideal for printing barcodes for POS food labelling and other applications. As a result, the demand for thermal paper has increased worldwide during manufacturing and shipping.
In 2023, the POS application segment held a significant sway over the worldwide market, commanding a substantial revenue share of 65.6%.
The growing trend towards digitalization in transaction processes is impeding the demand for thermal paper for printing at point-of-sale terminals. Nevertheless, the increased adoption of e-commerce is anticipated to drive the demand for thermal paper, particularly in the form of labels and tags.
In 2023, the Asia Pacific region claimed the dominant share of the global revenue at 36.4%. This surge was fuelled by the proliferation of retail chains, meeting the growing consumer demand for conveniently accessible goods.
Growing demand for sustainable thermal paper: There is a growing demand for sustainable thermal paper that is made from recycled materials and uses less harmful chemicals. This is expected to drive the development of new sustainable thermal paper products in the coming years.
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Thermal Paper Market Report – Scope:
- The Thermal Paper Market has been segmented By Direct Thermal Paper, Thermal Transfer Paper, Top Coated Thermal Paper, Synthetic Thermal Paper. Application: Point of Sale, Tags and Label, Lottery and Gaming, Ticketing. By End User Industry, Packaging and Labelling, Printing, Retail and Geography. The report provides insights into the market dynamics, including market drivers and challenges.
- Thermal Paper Market with top country data and analysis. The report also highlights the market potential, growth rates, and alternative relevant statistics.
- The competitive landscape section features company profiles of major players such as Appvion, Inc and Koehler Paper Group. This report is a valuable source of guidance and direction for companies and individuals interested in the market.
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The top 10 players in the Thermal Paper industry are:
- Appvion, Inc
- Gold Hua sheng Paper Co., Ltd.
- Hansol Paper Co
- Henan Province Jiang He Paper Co., Ltd.
- Koehler Paper Group
- Mitsubishi Paper Mills (MPM) Limited
- Oji holdings
- Ricoh Company, Ltd.
- Siam Paper Public Co. Ltd
- Jujo Thermal Ltd.
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