December 30, 2019
According to the research report titled ‘Thermal Paper Market Size By Type (Top Coated, Non-Top Coated), By Technology (Direct Thermal, Thermal transfer, Others), By Application (POS Receipts, Lottery & gaming Tickets, Labels & tags and Others), By End-Use Industry (Packaging & Labelling, Printing, Retail, Others) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global thermal paper market is expected to cross USD 5.6 billion by the year 2025.
Robust expansion of e-commerce and retail sector is leading to growing need for labelling in various applications which in turn is driving the thermal paper market growth. Traditional ink used for printing is harmful for humans and have unfavorable environmental impact. Thus, rising environmental concerns, coupled with surging adoption of thermal papers are aiding the expansion of the market.
Rapid digitalization has led to increased consumption of printing receipts. Hence, increasing utilization of thermal paper as printing receipts and price labels across ATM machines and POS are stimulating the industry outlook. Rising adoption of cashless payment systems in various sectors is also augmenting the demand for thermal paper across the globe.
As per product type, top coated thermal paper market will register substantial growth during the forecast period. Labelling in food industry is crucial as it showcases the specifications of the product. Strict government policies regarding proper labelling of pharmaceutical and food products is fueling the growth of the segment.
In terms of technology, thermal paper market from thermal transfer segment is expected to grow considerably, since it is durable, reduces costs, and increase the quality of printing. Additionally, the technology offers enhanced resolution of barcodes and hence used extensively in labelling and packaging industries.
Based on application spectrum, growing inclination towards cashless payment solutions has paved the way for surging need of POS terminals in various industry verticals. Cashless payment solutions are efficient and easy to use and thus, facilitate the segmental growth.
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Citing end-use industry, the report cites that thermal paper market from packaging & labelling industry is gaining momentum owing to surging e-commerce sector. Growing demand for thermal paper printing solutions from retail, food & beverage, and healthcare industries is bolstering the market outlook.
Considering geographical landscape, Asia-Pacific thermal paper market is expected to expand significantly due to escalating consumer disposable income and rapid urbanization. Increased penetration and easy availability of internet services, in tandem with higher consumption of electronic receipts is aiding the growth of Asia-Pacific market.
The prominent companies operating in thermal paper market are NCR, Ricoh, Mitsubishi Mills, and Koehler among others.
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