USD 4.21 billion
Thermal Paper Market Size, Share, Growth Analysis, By Type(Top Coating, No Top Coating), By Application(POS Applications, Medical, Plotting and Recording, Self-Adhesive Labels), By Printing Technology (Thermal Transfer, and Direct Thermal), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2393 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
91
|Figures:
68
Thermal Paper Market Insights
Global Thermal Paper Market size was valued at USD 4.21 billion in 2022 and is poised to grow from USD 4.50 billion in 2023 to USD 7.66 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).
The conventional thermal paper had historically relied on BPA as the organic acid developer responsible for creating images on paper. However, mounting pharmacological studies highlighting the potential for endocrine disruption and fertility reduction due to transdermal absorption of BPA prompted stringent regulations from the European Union and the US-EPA. Consequently, manufacturers initiated a shift towards alternative products such as BPS and Pergafast-201 to replace BPA in thermal paper formulations. In pursuit of safer alternatives, developers such as BPS-MAE, TGSA, d-8, and d-90 have been adopted by manufacturers, recognized for their safety profiles concerning human health.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Medical
Fastest Growth
Growth Rate
6.9% CAGR
Global Thermal Paper Market ($ Bn)
Country Share for North America Region (%)
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Thermal Paper Market Segmental Analysis
The global Thermal Paper market is segmented into four segments i.e. by Application, Printing Technology and Region. Based on Type the market is segmented as, Top Coating, No Top Coating. Based on Application the market is segmented as, POS Applications, Plotting and Recording, Medical, Self-Adhesive Labels, Tickets, Others. Based on Printing Technology the market is segmented as, Thermal Transfer, Direct Thermal. Based on Region the market is segmented as, North America, U.S., Canada, Mexico, Europe, Germany, UK, Italy, France, Spain, Rest of Europe, Asia-Pacific, Japan, China, India, South Korea, Australia, Rest of Asia-Pacific, LAMEA, Brazil, Saudi Arabia, Rest of LAMEA.
Analysis by Application
The POS segment is poised to assert a dominant position within this market concerning volume, primarily propelled by the escalating deployment of POS terminals, particularly in Europe and Asia. Statistical data from the European Association for Secure Transactions highlights the presence of over 14.5 million POS terminals actively operating across Europe. This substantial deployment signifies a substantial potential for market growth.
The medical segment is poised for substantial growth within the market, attributed to the rising utilization of this specific type of paper in various medical applications, particularly in printing reports and medical wristbands. Direct thermal printing technology has found crucial utility in printing wristbands used in medical settings. These wristbands play a pivotal role for medical staff, enabling them to confirm prescribed treatments or procedures for individual patients. They facilitate efficient patient care by eliminating the need for physical files, streamlining information access, and ensuring accuracy in medical procedures.
Analysis by Printing Technology
The thermal transfer segment is projected to witness substantial market growth, primarily owing to its versatility in printing on various paper qualities with consistent performance. This adaptability makes it an appealing choice for printing labels and tags on thermal paper. Thermal transfer printing machinery boasts an extended printhead lifetime and offers printed output that is more resistant to fading and smudging compared to direct thermal printing.
Direct thermal printing technology stands as the preferred choice for the logistics and retail sectors primarily due to its cost-effectiveness. Leveraging low-cost printing capabilities, this technology serves as a cornerstone for these industries. Direct thermal printers, often as compact as mobile devices, offer unparalleled portability, enabling on-the-go printing as needed. Additionally, the economic advantage of direct thermal printing over its thermal transfer counterpart bolsters the margin potential for service providers.
Global Thermal Paper Market By Application
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Thermal Paper Market Regional Insights
North America has firmly established itself as a powerhouse within the market, showcasing a commanding presence with a substantial share reaching US$ 5.0 billion in 2022. This robust market positioning underscores the region's significant influence and strong foothold in driving industry trends and revenue generation. With its sizable market share, North America stands as a key player, shaping the trajectory of the market's growth and innovation, setting benchmarks for others to follow within the industry.
In 2022, Asia Pacific emerged as the frontrunner, capturing the largest slice and accounting for 34.2% of the global revenue share in the market. This significant portion was propelled by the impressive proliferation of retail chains across the region, perfectly aligning with the escalating consumer preference for easily accessible consumer goods. The rapid expansion of retail chains has wielded substantial influence over market expansion, highlighting the increased demand for Point of Sale (POS) systems and labeling applications.
Global Thermal Paper Market By Region
- Largest
- Fastest
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Thermal Paper Market Dynamics
Drivers
Increasing Product Demand from Label Manufacturers for Applications in E-Commerce and Logistics Industries
- The rise in the number of frequent transactions in ATMs are likely to result in an upsurge in thermal paper for printing currency notes. This is further attributed to the rise in disposable income of people worldwide and the increase in need for lifestyle upgradation that involves the use of thermal paper in the worldwide market. National Cash Systems reports a staggering volume of over 10 billion ATM transactions conducted annually in the United States alone. As a customary practice, each ATM transaction generates a receipt, typically printed on thermal paper. This escalating trend in ATM transactions serves as a catalyst favoring market growth for thermal paper used in printing these transaction receipts. The substantial rise in ATM usage underscores a significant market opportunity driven by the increasing reliance on these machines for financial transactions globally.
Restraints
Growth in Online and Paperless E-transactions Impedes the Acceptance of Thermal Paper
- The emergence of paperless 'e-receipts' has gained significant feasibility, attributed to a growing number of retail merchants and businesses transitioning towards online transactions. This shift is further propelled by the increasing prevalence of monetary transaction services such as Paypal, Unified Payment Interface (UPI), and bank cards, facilitating everyday purchases and gradually displacing paper receipts with electronic counterparts. This trend poses a potential impediment to the growth of the market for paper receipts.
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Thermal Paper Market Competitive Landscape
The competitive environment of the global Thermal Paper Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- 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
- Rotolificio Bergamasco Srl
- Jujo Thermal Ltd.
Recent Developments
- In February 2024, Lecta has broadened its range of Termax thermal products by introducing two new top-quality grades: Termax TC20X and Termax TC20XB. These new grades of top-coated thermal paper are specifically designed for various self-adhesive label applications. Termax TC20X and Termax TC20XB are crafted to serve as adhesive facestock for food and industrial labels, offering resilience against challenging conditions like moisture, grease, or solvents.
- In January 2024, Shree Krishna Paper Mills & Industries (SKPMIL), known for its innovative unbleached chemical-free paper, has been honored with the Best Sustainability Innovator Award 2023. This recognition acknowledges SKPMIL's latest innovation: Eco-friendly sustainable copier paper. The award is presented by Guardians of the Green, an organization committed to celebrating industry innovators driving sustainability efforts.
- In June 2023, Markem-Imaje, a subsidiary of the US-based company Dover, unveiled its latest product, the 'SmartDate Xtra 3530' resin and wax thermal transfer ribbon.
Thermal Paper Key Market Trends
- The thermal paper market faces potential limitations in its growth trajectory due to the increasing prevalence of stringent regulations from the Occupational Safety and Health Administration (OSHA). These regulations aim to restrict the levels of Bisphenol (BPA) present in thermal paper, posing a constraint on market expansion. Thermal paper bases typically incorporate coatings containing elevated levels of the toxic chemical Bisphenol (BPA), a substance under heightened scrutiny due to its potential health implications.
Thermal Paper Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The global expansion of the market is anticipated in the forecast period. This surge is attributed to the inherent capabilities of thermal transfer printers, enabling them to generate superior quality and durable prints across a spectrum of paper qualities. The thermal paper market report underscores the versatility of thermal transfer printers, emphasizing their proficiency in consistently delivering higher-quality outputs.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.21 billion |
| Market size value in 2031 | USD 7.66 billion |
| Growth Rate | 6.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermal Paper Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermal Paper Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermal Paper Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermal Paper Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermal Paper Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermal Paper Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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