Thermal paper is projected to experience a compound annual growth rate of 4.5% from 2023 to 2033. This growth will be driven by increasing demand for thermal paper from point-of-sale (POS) systems and the growing use of mobile payments and digital wallets.
Furthermore, the increasing use of thermal paper in the medical industry for patient records, medical prescriptions, and medical imaging is expected to contribute to the growth of the thermal paper market. In addition, the growing use of barcode labels and tags to improve inventory tracking and product identification is projected to drive the demand for thermal paper. Moreover, rapid urbanization and rising disposable incomes in developing countries are expected to further drive the growth of the thermal paper market.
Based on the analysis by Fact.MR, the global thermal paper market is valued to be US$ 4.6 billion in 2023 and it is anticipated to grow at a CAGR of 4.5% to reach US$ 7.1 billion by the end of 2033.
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Growth Drivers
- Growing Demand for Point-of-Sale Systems: The rising demand for point-of-sale (POS) systems is one of the primary drivers for the thermal paper market growth. Thermal paper is used in POS systems for printing receipts, invoices, and labels. The increasing number of POS systems in the retail industry, hospitality sector, and healthcare industry is expected to drive the demand for thermal paper in the near future.
- Growing Preference for Electronic Payments: The growth in the number of people opting for electronic payments such as credit cards and debit cards is another factor driving the thermal paper market. As people are increasingly opting for electronic payments, the demand for thermal paper is rising, as it is used to print receipts and invoices for these transactions.
- Increasing Need for Enhancement of Customer Experience: The increasing focus of retail outlets and restaurants on providing a superior customer experience is another factor driving the thermal paper market. Thermal paper is used for printing customer receipts and shipping labels, which helps in providing a better customer experience.
- Rising Demand from Healthcare Sector: The rising demand for thermal paper in the healthcare sector is expected to drive the market growth. Thermal paper is used to print patient records, test results, and lab reports in the healthcare sector. This is expected to drive the demand for thermal paper in the near future.
Market Titans
- Koehler Paper Group
- Nakagawa Manufacturing (USA), Inc.
- Siam Paper Public Company Limited,
- Jujo Thermal Ltd.
- Ricoh Company, Ltd.
- Shandong Chenming Paper Holdings Ltd.
Eminent Players Key Stratagems
Manufacturers of thermal papers are focused on mergers and acquisitions and an expansion of the product portfolio and production. Further rise in the healthcare and retail industry increases the sales of thermal paper across the globe.
Additionally, with Growing awareness of the negative effects of thermal paper containing BPA, manufacturers are looking for sustainable products that are major drivers of demand for industrial thermal papers. Also, the manufacturers strategize long-term growth with the market players to increase the sales of the product.
Segmentation of Thermal Paper Industry Research
· By Thickness Type:
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- 60-80 microns
- 80-90 microns
· By Technology:
-
- Direct thermal
- Thermal transfer
· By Application:
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- Lottery & Gaming
- Labels & Tickets
- Other
· By End User:
-
- Retail Industry
- Healthcare
- Packaging & Labelling
- Printing & Publishing
- Entertainment & Transit
- Other
· By Region:
-
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Covered in the Thermal Paper Report
- What will be the estimated size of the Thermal Paper in 2023?
- At what rate will sales in the global Thermal Paper grow until 2033?
- Which are the factors propelling the Thermal Paper and in the Thermal Paper?
- Which region will spearhead the growth in the global Thermal Paper during 2023-2033?
- Which are the factors driving sales in the Thermal Paper during the forecast period?
More Valuable Insights on Thermal Paper
Fact.MR, in its new report, offers an unbiased Market Analysis of Thermal Paper, Sales and Thermal Paper and analyzing forecast statistics through 2033 and beyond. The study reveals growth projections on the of various criteria.
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