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According to a new report by Reports and Data, the global Thermal Paper market is expected to reach USD 6.75 billion by 2030. This is due to an increased demand for Thermal Paper in billing operations as it offers faster and more efficient printing. However, the demand for Thermal Paper may be hampered by the rising prevalence of regulations from the Occupational Safety and Health Administration (OSHA) limiting Bisphenol-A (BPA) levels in thermal paper base. This is because the base contains at least one coating of highly toxic chemicals.
Rapid urbanization has changed the way of life for individuals, leading to an increased demand for point of sale (POS) and billing operations. This has augmented the demand for Thermal Paper products. However, increasing awareness of the need to reduce paper usage for billing applications and the rise of online transactions for e-commerce have increased the use of digital receipts, hindering the growth of the Thermal Paper market.
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Thermal printing is witnessing maximum growth due to its ability to act as a buffer between the elements in the print head and the label material, providing quality documents during transactional procedures. Printer ribbons provide a back-coating that reduces tension and friction between rough substrates to increase the print head's existence. This printing technique allows label printing at different temperatures, which preserves print accuracy and readability under intense light and chemical interaction for a prolonged period.
The COVID-19 pandemic has impacted the Thermal Paper market, with manufacturers changing their practices and purchasing priorities to meet the required demand. The export-dependent economies of many regions look vulnerable, and the global Thermal Paper markets are reshaped by the effects of the pandemic.
Based on the report, key findings include that Non-Top coated thermal paper generated a revenue of USD 2.54 billion in 2019, and the POS receipts contributed to the largest market share in 2019. The Asia Pacific region dominated the market for Thermal Paper, holding approximately 35.0% of the market in 2019.
Key participants in the market include Koehler Paper Group, Oji Holdings Corporation, Mitsubishi Paper Mills (MPM), Ricoh Company Ltd., Siam Paper, Appvion Operations Inc., Nakagawa Manufacturing Inc., Jujo Limited, Hansol Paper, and Nakagawa Manufacturing Inc., among others.
The report has segmented the global Thermal Paper market based on type, technology, application, and region.
Thermal Paper Market: Drive Factors
The Thermal Paper market is being driven by several factors, including the increased demand for faster and efficient printing in billing operations, the prevalence of point of sale (POS) and billing operations due to rapid urbanization, and the adoption of uncoated printing for documents involving accounting, insurance receipts, and public safety. Additionally, the mobility of thermal paper enables lightweight, portable POS machines to be used to print tickets and receipts on the spot, and the thermal transfer process is optimal for printing UL Recognized Print, shelf labeling, outdoor applications, cold storage, and barcode labels for product recognition on different products. The market is also witnessing maximum growth due to its ability to act as a buffer between the elements in the print head and the label material, which allows for label printing at different temperatures and preserves print accuracy and readability under intense light and chemical interaction for a prolonged period.
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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