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Thermal Paper Market Research Report By
Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Thermal Paper Market Forecast To 2023
Global Thermal Paper Market Information Report, By Technology (Direct Thermal, Thermal Transfer, and
Others), By Application (POS, Lottery & Gaming, Labels & Tags, and Others) and By Region - Global
Forecast To 2023
On the basis of region, North America accounted for the largest market share of 37.27% in 2016, with a market value of USD
1,197.4 Million. The region has witnessed increased demand of thermal paper, from POS application, mainly due to the high
internet penetration in countries such as U.S. and Canada. The POS applications demand thermal paper for receipts,
acknowledgements, and bills. The U.S. is the major market in North America. The country houses one of the biggest
international retail chains such as Walmart and Amazon. This makes it an important market for thermal paper. Europe was
the second-largest market in 2016, valued at USD 883.8 Million in 2016. The region accounts for increasing sales of retail
industry, from both brick and mortar and online stores. The retail industry is seen pacing significantly, especially in the
countries of Netherlands, U.K., and Germany. Hence, Europe is projected to grow at a CAGR of 4.38%.
Asia Pacific region is expected to grow at the highest CAGR of 5.12% during the forecast period. The region is regarded as
one of the fastest growing regions, in terms of sales from both retail and online stores. With increasing disposable income
and changing consumer preferences, there has been an inclination towards purchasing from online platforms, especially the
international ones such as Amazon. China is the major market in Asia Pacific region, owing to the increasing population and
increasing demand for consumer goods.
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Thermal Paper Market Forecast To 2023
Based on technology, the market has been segmented as direct thermal, thermal transfer, and others. The direct thermal
segment accounted for the largest market share of 49.37% in 2016, with a market value of USD 1,586.1 Million. In direct
thermal technology, no ribbon is used in printing. It creates the image directly on the printed material. Direct thermal
printing uses chemically treated, heat-sensitive media that turns black when it passes under the thermal print head.
Thermal transfer technology is projected to grow at the highest CAGR of 4.43%. Thermal transfer printing uses a heated
ribbon to produce durable, long-lasting images on a wide variety of materials. Thermal transfer printers can create highly
durable wristbands, asset tags, and certification labels, in addition to common labels, tags, and tickets.
On the basis of application, the market has been segmented as, POS, lottery & gaming, labels & tags, and others. POS
accounted for the largest market share of 58.90% in 2016. POS (Point of Sale) application includes receipts and tags at the
retails stores, online purchases, and ATMs. The paper is generally compatible with most transaction-style printers and cash
registers, and multiple rolls come in a pack. POS paper ensures customers get a clear, legible, smudge-free receipt each
time. The thermal paper for receipts come in various dimensions to suit the end-use. The segment is expected to grow at
4.93% CAGR during the forecast period. Lottery & Gaming was the second-largest market that was valued at USD 421.5
Million in 2016. Labels & tags is also another major application. Thermal papers are used extensively for barcodes and tags
and similar applications. Such labels and barcodes come handy across the supply chain of FMCG goods, for theft and
security reasons.
Hence, global thermal paper market is expected to reach a market size of USD 4,391.0 million by the end of the forecast
period at CAGR of 4.66%.
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Thermal Paper Market Forecast To 2023
Segmentation
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Thermal Paper Market Forecast To 2023
Major Players
The key players of global thermal paper market are Appvion, Inc. (U.S.), Oji Paper (Thailand) Ltd. (Thailand), Koehler Paper
Group (Germany), Ricoh Company Ltd (Japan), Jujo Thermal Ltd. (Finland), Mitsubishi Paper Mills Ltd. (Japan), Hansol Paper
Co., Ltd (South Korea), and Nakagawa Manufacturing , Inc. (U.S.).
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