According to TechSci Research report, “Thermal Paper Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Thermal Paper Market stood at USD 4.02 billion in 2022 and is anticipated to grow with a CAGR of 4.30% in the forecast period, 2024-2028. The awareness among individuals regarding the Thermal Paper market has led to favorable market conditions for the global Thermal Paper market. Several factors contribute to the growth of various Thermal Paper products.
The retail and hospitality sectors have witnessed substantial growth, fueling a robust demand for thermal paper. This specialized paper is extensively utilized for printing a variety of items including receipts, labels, and tickets within these industries. With the ongoing surge in e-commerce and the proliferation of brick-and-mortar retail establishments, there’s an increased need for point-of-sale (POS) systems and their associated consumables, thermal paper being a vital component.
As the number of retail outlets and dining establishments continues to expand, so does the requirement for thermal paper products.
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The e-commerce sector has experienced a remarkable surge, primarily propelled by factors like convenience, extensive product selection, and evolving consumer tastes. Within the e-commerce industry, thermal paper finds application in printing shipping labels, order invoices, and packing slips. The expansion of online shopping has resulted in a significant upswing in the requirement for thermal paper to facilitate efficient logistics and order processing. The demand for thermal paper is expected to remain robust as long as the e-commerce sector continues its growth trajectory. In October 2023 – Oji Holdings Corporation announced that it had acquired a majority stake in IPI, a leading manufacturer of packaging machinery. This acquisition is part of Oji’s strategy to expand its packaging business and offer its customers a wider range of products and services.
Numerous sectors, notably healthcare and food services, are obliged to adhere to stringent regulations pertaining to labeling and meticulous record-keeping. Thermal paper serves as a prevalent choice for generating compliant labels in accordance with these regulations. Moreover, within healthcare environments, it is employed for producing patient wristbands and prescription labels.
The imperative to uphold precise documentation and meet regulatory mandates fuels the demand for thermal paper in these particular industries. In today’s fast-paced world, Thermal paper offers instant printing, which is invaluable in situations where speed is essential. In retail, for example, customers expect to receive their receipts quickly, and thermal printers meet this need by producing receipts in a matter of seconds. This instant documentation improves transaction speed and customer satisfaction. In fast-paced environments like restaurants, kitchens, and manufacturing facilities, thermal paper is used for printing order tickets and labels.
The speed of thermal printers reduces downtime, ensuring that orders are prepared promptly and accurately. This is critical in industries where every minute counts. With the rise of mobile POS systems and the need for on-the-go printing, thermal paper offers a portable solution. Food trucks, pop-up stores, and event vendors can use mobile thermal printers to produce receipts and tickets wherever they are. This mobility enhances service speed and flexibility. Despite its speed, thermal paper maintains high print quality.
It produces clear, legible text and images, which is essential for producing professional-looking receipts, labels, and tickets. This is valuable in sectors like retail, healthcare, and logistics where document clarity is critical.
The growing restaurant and food service industry stands as a substantial user of thermal paper for several key purposes. In restaurants, thermal paper is employed to generate customer receipts, print kitchen order tickets, and even take-out and delivery orders.
In recent times, Thermal paper has been commonly used in retail stores, restaurants, and the hospitality industry to print customer receipts. Its rapid printing capabilities provide an efficient means of generating transaction records, enhancing customer service, and reducing waiting times. Thermal paper is employed for producing barcode labels and price tags in retail and manufacturing sectors.
It streamlines inventory management, helping businesses keep track of stock levels and ensure accurate pricing. In logistics and e-commerce, thermal paper is vital for printing shipping labels and packing slips. Its durability ensures that labels remain legible throughout the supply chain, contributing to smooth and accurate shipping operations.
However, Environmental Concerns and Sustainability may hinder market growth. Moreover, challenges related to Digital Alternatives and Paperless Trends and Competition and Price Sensitivity may pose obstacles to the Thermal Paper market in the near future. The Global Thermal Paper Market is segmented into application, regional distribution, and company.
Based on its application, the POS segment has emerged as the predominant market leader, Thermal paper is the preferred choice for printing receipts in retail stores, restaurants, gas stations, and various other businesses using POS systems. The simplicity, speed, and cost-effectiveness of thermal printers make them the go-to solution for generating customer receipts.
Receipts are an integral part of the retail and hospitality industries. Every sale transaction results in the printing of a receipt, which serves as proof of purchase for customers and a record for businesses. The high transaction volume in these sectors ensures a continuous and substantial demand for thermal paper. Retailers extensively use thermal paper for printing price tags, shelf labels, and other product labels. The durability of thermal labels and their ability to resist fading and smudging are crucial in maintaining organized and accurate product information.
Thermal paper is ideal for barcode printing due to its high-quality, high-contrast printing capabilities. Barcode labels are essential for inventory management, price scanning, and quick product identification at the point of sale. Based on region, the Asia Pacific segment is expected to grow during the forecast period. This is due to the expansion of retail chains in the region can be attributed to the growing consumer preference for easily accessible consumer goods.
Furthermore, the increased industrial activities in the area have resulted in heightened demand for labeling applications. As developing economies witness a rising market for fast-moving consumer goods (FMCG), manufacturers are expanding their production capacities to meet this demand. Consequently, there has been a significant uptick in the volume of transactions occurring in retail stores.
Major companies operating in the Global Thermal Paper Market are:
- Oji Holdings Corp.
- Appvion Inc.
- Koehler Group
- Mitsubishi Paper Mills Ltd.
- 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
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“The Growing Demand for Fast-Moving Consumer Goods (FMCG) and increasing Sustainability and Environmental Concerns are key drivers of the Thermal Paper market. In recent years, The development of thermal paper with improved durability and advanced security features, including tamper-evident coatings and anti-counterfeiting measures, addresses industry-specific requirements. To meet the demands of the market, manufacturers are increasingly incorporating cutting-edge technologies with high production efficiency. Rising consumer acceptance and continuous product innovation will further ensure the growth of the Thermal Paper and supplements market in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Thermal Paper Market – Global Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028 Segmented By Application (POS, Tags & Label, Lottery & Gaming, Others), By Region, Competition”, has evaluated the future growth potential of Global Thermal Paper Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Thermal Paper Market.
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Table of Content-Thermal Paper Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Global Thermal Paper Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Application (POS, Tags & Label, Lottery & Gaming, Others)
5.2.2. By Region
5.2.3. By Company (2022)
5.3. Market Map
- North America Thermal Paper Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Application
6.2.2. By Country
6.3. North America: Country Analysis
6.3.1. United States Thermal Paper Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Application
6.3.2. Canada Thermal Paper Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Application
6.3.3. Mexico Thermal Paper Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Application
