Global Thermal Paper Market- Market Overview:

The global thermal paper market is expected to grow from USD 4.49 billion in 2022 to USD 6.9 billion by 2030, at a CAGR of 5.7% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising demand from the food packaging sector.

As the name implies, thermal paper is a specialty paper that changes colour when heated. It is manufactured by using heat-sensitive dyes and developers. Thermal papers differ in their way of applying these dyes and developers during the manufacturing process, depending on which manufacturer they are made by. All thermal papers, however, share some processing similarities. With its ability to print quickly and efficiently, the product is getting full acceptance in billing operations. In addition, the paper's durability and print precision make it easy to read the barcodes. Therefore, they have gained an important share of the paper utilities, which will drive its demand over the Projection period. Thermal paper manufacturers can access the raw materials they need from a broad range of suppliers in the market, and recycled fibers are also expected to contribute to market growth in the near future. There is also a significant level of integration across the value chain among the major players, where they manufacture and supply the products directly to consumers. During the printing process, thermal papers are turned from the print head to the platen roll, causing alternating heating and cooling elements in the head to form images on the surface. Thermal paper is a recording media printed via heat via a thermal printer. Images are created by transferring thermal energy directly onto this paper. With their increasing use in making lottery and gaming tickets, the demand for thermal paper will continue to grow.

Sample Request: - Global Thermal Paper Market

Market Dynamics:

Drivers:                          

• Rising demand for eco-friendly paper

Due to the gradual switch to time clocks and inventory systems among restaurants, food chains, and food stores, POS systems are becoming increasingly popular. With fast-paced lives, thermal paper is often used for parking tickets, admission tickets, and other tickets, which is expected to grow the market for eco-friendly paper, hence boosting the market growth.

Restraints:                                             

• Environmental regulations

Various environmental regulations have restricted dye production in the production facility and thereby hampered the growth of the thermal paper market overall. Additionally, the increasing use of POS systems and e-receipts in retail stores is negatively affecting the overall growth of the thermal paper market.

Opportunities:

• Rising trend of digital payment modes

Thermal paper is expected to benefit from the increasing number of trending digital payment options and technological advancements during the Projection period. Globally, the thermal paper market is expected to grow at a faster pace due to the growing demand for effective printers in several sectors, such as banking, retail, entertainment, etc. The usage of mobile phones or web-based applications requires fast billing systems, which is boosting the growth of the thermal paper market.

Challenges:

• Fluctuating prices

Among the major limitations of the thermal paper market are fluctuations in raw material costs. Fluctuation in raw material cost is responsible for the high cost of the final product due to which it becomes difficult for the consumers to adopt such products, hence hampering the growth of the market.

Segmentation Analysis:

The global thermal paper market has been segmented based on type, application, and region.

By Type

The type segment includes thermal transfer, direct thermal, and others. The direct thermal segment led the largest share of the thermal paper market with a market share of around 43% in 2022. With a 48% share in 2018, direct thermal technology has seen a substantial increase in its adoption for shipping labels, compliance labels, receipts, kiosk tickets, visitor tags, parking tickets, coupons, and more. Thermal paper market demand is primarily driven by its widespread acceptance in the printing and packaging industry because of its high mobility, full graphics, etc. capabilities.

By Application

The application segment includes lottery & gaming, point-of-sale, and others. The point-of-sale segment led the largest share of the thermal paper market with a market share of around 41% in 2022. Approximately 64% of global revenue will go to point-of-sale products in 2020. Due to its ease of printing, the product is widely used in PO machines. In addition, mobile PoS terminals have been widely used in public utility spaces, transportation, and retail markets, which has contributed to the segment's growth.

Global Thermal Paper Market- Sales Analysis.

The sale of thermal paper expanded at a CAGR of 5.2% from 2016 to 2022.

On account of the growing demand for thermal paper from end-use industries such as ATMs, e-commerce, retail, and others, strong competition is Projection for the market during the Projection period. As a result of increasing investment in new products and manufacturing technologies, public and private companies operating in this market are increasingly developing new products and optimizing production processes.

Packaging and printing industries use thermal paper primarily as a means of displaying billing systems and critical information. Thermal rolls are typically deployed and produced into thermal printers to be used for printing. When heat is applied to the thermal paper, a special ink turns the paper black, which is boosting the market growth.

Several manufacturers, including Appvion, Oji Holdings, and others, have a strong presence in the market. The demand for thermal papers has increased, and significant investments in producing these papers using eco-friendly chemicals as part of product innovation are expected to drive demand for these papers in the future.

Thus, owing to the aforementioned factors, the global thermal paper market is expected to grow at a CAGR of 5.7% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the thermal paper market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the thermal paper market and held a 37.2% share of the market revenue in 2022.

• The North American region witnessed a major share. Among the North American thermal paper markets, the United States dominates with the largest market share because it is the fastest-growing country in the world and thermal paper products are highly manufactured and consumed in the nation. Another factor contributing to the country's growth is the high level of innovation and development in the manufacturing industry. Moreover, thermal paper manufacturers have the opportunity to gain momentum in the thermal paper market as demand for thermal barcode printers in supply chain industries is on the rise.
• Asia Pacific is anticipated to experience significant growth during the predicted period. In response to the increasing demand for easily accessible consumer goods, retail chains have expanded in the region. In addition, the increase in industrial activity has contributed to a rise in thermal paper labelling demand. FMCG goods have become increasingly popular in developing economies, which has led to an increase in production capacities, resulting in an increase in retail sales.

Global Thermal Paper Market - Country Analysis:

• Germany

Germany's thermal paper market size was valued at USD 0.33 billion in 2022 and is expected to reach USD 0.51 billion by 2030, at a CAGR of 5.8% from 2023 to 2030.

Thermal paper is expected to contribute to the growth of the country's market as it is increasingly used for supplement packaging and labelling, as well as the gaming industry. As a result of the regulations set by European regulators, thermal paper can be produced using eco-friendly coatings such as powder and waterborne.

• China

China’s thermal paper market size was valued at USD 0.34 billion in 2022 and is expected to reach USD 0.54 billion by 2030, at a CAGR of 6.1% from 2023 to 2030.

Thermal paper market growth will be driven by the increasing demand for food and beverage products and this will result in the more thermal paper being used. Thermal paper will also be increasingly popular for quality tagging and certification labels used in cold storage products and laboratory specimens over the Projection period.

• India

India's thermal paper market size was valued at USD 0.26 billion in 2022 and is expected to reach USD 0.41 billion by 2030, at a CAGR of 5.9% from 2023 to 2030.

A growing retail chain and outlet are predicted to lead to more adoption of POS terminals and faster market expansion, and government initiatives to promote food and pharmaceuticals in the country are expected to lead to the increased usage of thermal paper for packaging and labelling.

Key Industry Players Analysis:  

To increase their market position in the global thermal paper market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Henan Province JiangHe Paper Co., Ltd
• Twin Rivers Paper Company
• Ricoh
• Mitsubishi HiTec Paper Europe GmbH
• Jujo Thermal Ltd.
• Papierfabrik
• Oji Holdings Corporation
• Iconex LLC
• Rotolificio Bergamasco Srl
• Appvio
• Hansol Europe B.V.
• SIAM EXPORT LTD PARTNERSHIP
• NAKAGAWA Manufacturing Inc
• Shandong Chenming Paper Holdings Ltd
• GOLD HUASHENG PAPER CO., LTD

Latest Development:

• In March 2022, As a leading thermal paper manufacturer and a Koehler Group company, Koehler Paper provides thermal paper that can be used with Epson TM-T88VII POS printers and TM-T88VI receipt printers. Koehler Blue4est® receipts are environmentally friendly because they can be discarded just like waste paper. The most important thing about Blue4est® is that it's the first thermal paper to be approved for use directly with food.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	5.7%
Market Size	4.49 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Technology, By Application, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Henan Province JiangHe Paper Co., Ltd, Twin Rivers Paper Company, Ricoh, Mitsubishi HiTec Paper Europe GmbH, Jujo Thermal Ltd., Papierfabrik, Oji Holdings Corporation, Iconex LLC, Rotolificio Bergamasco Srl, Appvio, Hansol Europe B.V., SIAM EXPORT LTD PARTNERSHIP, NAKAGAWA Manufacturing Inc, Shandong Chenming Paper Holdings Ltd, and GOLD HUASHENG PAPER CO., LTD.
By Technology	Thermal Transfer Direct Thermal Others
By Application	Lottery & Gaming Point-of-Sale Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Thermal Paper Market by Technology:

• Thermal Transfer
• Direct Thermal
• Others

Global Thermal Paper Market by Application:

• Lottery & Gaming
• Point-of-Sale
• Others

Global Thermal Paper Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Pressure groups, social and environmental campaigners, and labor unions should be closely researched by the thermal paper market because they are critical to the creation of laws. Close collaboration with these groups may be able to boost the thermal paper market's capacity for civic participation and the achievement of long-term corporate goals. A stable governance structure and a democratic political environment boost the business climate for foreign enterprises, particularly those in the thermal paper sector.

Economic Factors- The economic prosperity of a country has a direct impact on organizational performance. Because of expanding economies, the thermal paper market has a lot of room to grow. In a similar vein, understanding the stage of the industrial lifecycle is crucial. Entering mature industries may be more difficult due to market saturation than entering enterprises in the growing stage. The amount of money invested by the host country's government in critical infrastructure has an impact on the viability of the thermal paper market. A well-developed infrastructure facilitates business operations, boosting the likelihood that the country's gold sector will thrive.

Social Factors- Culture is important to international marketing managers. Every culture has its own set of rules and beliefs that influence how individuals behave as customers. In order to build marketing plans that are relevant to the area environment, the thermal paper market must collaborate and form teams with regional enterprises. The thermal paper industry values socioeconomic class stratification studies. In order to supply luxury goods at premium pricing to a market where the high-end consumer is relatively small, the need for the thermal paper will necessitate the use of unique marketing methods. In places with low social class stratification, market segmentation based on social class may also fail.

Technological Factors- It has been easier to apply cutting-edge marketing methods to promote consumer collaboration as information and communication technology has evolved. In today's business climate, social media usage has skyrocketed. The advantages of social media marketing can be used to improve business performance in the thermal paper industry. New social media campaigns can be launched by leveraging technology to create online communities for brands. To stay ahead of the competition, the thermal paper market must closely monitor recent technological breakthroughs. It is critical to consider how 5G could improve user experience, speed, and access to boost productivity.

Environmental Factors-  Green or environmentally friendly items are becoming more popular. thermal paper may seize the opportunity and apply green business practices to appeal to stakeholders. Product innovation priorities are altering as a result of regulatory organisations' emphasis on maintaining environmental compliance. In the thermal paper market, the environmental friendliness of its goods must take precedence over more traditional value claims. If the market for thermal paper regularly depletes resources, the public, customers, environmental organisations, and the media may criticize it.

Legal Factors- Data protection has become a critical issue due to consumers' worries about their privacy and security. the thermal paper must research data protection rules in order to protect consumer data. Furthermore, laws are in place to control costs, ensure a certain level of quality, and protect buyers from fraudulent advertising promises. In order to comply with consumer protection regulations, the thermal paper must take certain factors into consideration. The goal of intellectual property laws is to protect companies' valuable ideas and patents. If thermal paper loses its competitive edge as a result of failing to protect intellectual property rights, its market position may suffer in comparison to other market competitors.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Technology
     • 3.2. Market Attractiveness Analysis By Application
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising demand for eco-friendly paper
   • 3. Restraints
     • 3.1. Environmental regulations
   • 4. Opportunities
     • 4.1. Rising trend of digital payment modes
   • 5. Challenges
     • 5.1. Fluctuating prices

6. Global Thermal Paper Market Analysis and Projection, By Technology
   • 1. Segment Overview
   • 2. Thermal Transfer
   • 3. Direct Thermal
   • 4. Others
7. Global Thermal Paper Market Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Lottery & Gaming
   • 3. Point-of-Sale
   • 4. Others
8. Global Thermal Paper Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Thermal Paper Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Thermal Paper Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Henan Province JiangHe Paper Co., Ltd
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Twin Rivers Paper Company
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Ricoh
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Mitsubishi HiTec Paper Europe GmbH
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Jujo Thermal Ltd.
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Papierfabrik
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Oji Holdings Corporation
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Iconex LLC
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Rotolificio Bergamasco Srl
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Appvio
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Hansol Europe B.V.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • SIAM EXPORT LTD PARTNERSHIP
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • NAKAGAWA Manufacturing Inc
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Shandong Chenming Paper Holdings Ltd
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • GOLD HUASHENG PAPER CO., LTD
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
2. Global Thermal Transfer, Thermal Paper Market, By Region, 2023–2030 (USD Billion)
3. Global Direct Thermal, Thermal Paper Market, By Region, 2023–2030 (USD Billion)
4. Global Others, Thermal Paper Market, By Region, 2023–2030 (USD Billion)
5. Global Thermal Paper Market, By Application, 2023–2030 (USD Billion)
6. Global Lottery & Gaming, Thermal Paper Market, By Region, 2023–2030 (USD Billion)
7. Global Point-of-Sale, Thermal Paper Market, By Region, 2023–2030 (USD Billion)
8. Global Others, Thermal Paper Market, By Region, 2023–2030 (USD Billion)
9. Global Thermal Paper Market, By Region, 2023–2030 (USD Billion)
10. North America Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
11. North America Thermal Paper Market, By Application, 2023–2030 (USD Billion)
12. USA Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
13. USA Thermal Paper Market, By Application, 2023–2030 (USD Billion)
14. Canada Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
15. Canada Thermal Paper Market, By Application, 2023–2030 (USD Billion)
16. Mexico Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
17. Mexico Thermal Paper Market, By Application, 2023–2030 (USD Billion)
18. Europe Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
19. Europe Thermal Paper Market, By Application, 2023–2030 (USD Billion)
20. Germany Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
21. Germany Thermal Paper Market, By Application, 2023–2030 (USD Billion)
22. France Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
23. France Thermal Paper Market, By Application, 2023–2030 (USD Billion)
24. UK Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
25. UK Thermal Paper Market, By Application, 2023–2030 (USD Billion)
26. Italy Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
27. Italy Thermal Paper Market, By Application, 2023–2030 (USD Billion)
28. Spain Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
29. Spain Thermal Paper Market, By Application, 2023–2030 (USD Billion)
30. Asia Pacific Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
31. Asia Pacific Thermal Paper Market, By Application, 2023–2030 (USD Billion)
32. Japan Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
33. Japan Thermal Paper Market, By Application, 2023–2030 (USD Billion)
34. China Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
35. China Thermal Paper Market, By Application, 2023–2030 (USD Billion)
36. India Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
37. India Thermal Paper Market, By Application, 2023–2030 (USD Billion)
38. South America Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
39. South America Thermal Paper Market, By Application, 2023–2030 (USD Billion)
40. Brazil Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
41. Brazil Thermal Paper Market, By Application, 2023–2030 (USD Billion)
42. Middle East and Africa Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
43. Middle East and Africa Thermal Paper Market, By Application, 2023–2030 (USD Billion)
44. UAE Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
45. UAE Thermal Paper Market, By Application, 2023–2030 (USD Billion)
46. South Africa Thermal Paper Market, By Technology, 2023–2030 (USD Billion)
47. South Africa Thermal Paper Market, By Application, 2023–2030 (USD Billion)

List of Figures 

1. Global Thermal Paper Market Segmentation
2. Thermal Paper Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Thermal Paper Market Attractiveness Analysis By Technology
9. Global Thermal Paper Market Attractiveness Analysis By Application
10. Global Thermal Paper Market Attractiveness Analysis By Region
11. Global Thermal Paper Market: Dynamics
12. Global Thermal Paper Market Share By Technology (2023 & 2030)
13. Global Thermal Paper Market Share By Application (2023 & 2030)
14. Global Thermal Paper Market Share by Regions (2023 & 2030)
15. Global Thermal Paper Market Share by Company (2021)