Thermal Paper Market to Observe Strong Development by 2027

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Since grocery stores, food chains, and restaurants are gradually transitioning to time clocks and inventory systems, POS (Point-of-Sale) systems are becoming increasingly popular.

The global thermal paper market is anticipated to grow at a favorable rate from 2021 to 2031 (forecast period). Thermal paper is widely used in shopping malls, grocery stores, catering, gas stations, lottery systems, gaming houses, bakery stores, and coffee shops for printing labels, receipts, and tickets because of its ease and dependability. This, together with the booming retail sector, is one of the key factors projected to drive the demand for thermal paper for POS transactions. Furthermore, the extensive use of mobile POS terminals in public utility places and the ongoing move toward digital payment methods in offline establishments are expected to fuel the global thermal paper market growth.

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Competitive Landscape

Leading players in the thermal paper market are Henan Province JiangHe Paper Co. Ltd., Ricoh Company Ltd., Hansol Paper Co. Ltd., Gold Huasheng Paper Co. Ltd., Oji Holdings Corporation, Koehler Group, Thermal Solutions International Inc., Mitsubishi Paper Mills Limited, Appvion Inc, Twin Rivers Paper Company, Jujo Thermal Limited, Rotolificio Bergamasco Srl, Iconex LLC, and NAKAGAWA Manufacturing Inc.

Market players are implementing strategies such as collaborations and acquisitions, new capacity expansions, and product launches to expand their current offerings, reach a wider customer base, and improve their market presence.

Trends and Opportunities

Since grocery stores, food chains, and restaurants are gradually transitioning to time clocks and inventory systems, POS (Point-of-Sale) systems are becoming increasingly popular. Fast-paced lifestyles frequently need the usage of thermal paper for parking tickets, entrance tickets, and so on, which is projected to increase the demand for eco-friendly paper and boost the global thermal paper market growth.

Moreover, the need for product transportation has increased significantly in recent years, with e-commerce firmly established in developed nations and rapidly growing in rising economic powerhouses like India and China. According to the Pitney Bowes Parcel Shipping Index, worldwide parcel volume is expected to exceed 150 billion by 2025. Thermal paper labels are used by transportation and logistics organizations to mark goods with tracking barcodes, QR codes, and descriptions of the seller and receiver. This sort of paper does not use standard ink, making it moisture-proof and smudge-proof, thereby boosting its use in goods transportation and handling. As a result of this feature, transportation businesses are constantly using this paper for printing package labels, paving the road for the global thermal paper market to expand.

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Regional Landscape

The thermal paper market is expected to experience growth in Asia Pacific due to the increased customer preference for conveniently accessible consumer goods. Furthermore, rising industrial activity in the region is projected to raise the demand for thermal papers.

Moreover, the growing market for FMCG items in emerging nations has resulted in an increase in production capacity for these goods. As a result, the number of transactions at retail outlets has grown. Such elements have resulted in a surge in demand for thermal paper to print tags, labels, and POS receipts, propelling the thermal paper market in Asia Pacific.

The thermal paper market in North America is estimated to expand during the forecast period due to the well-established food and retail industries. Furthermore, expanded associated warehousing operations are likely to fuel regional market growth throughout the projection period. Moreover, the engagement of prominent suppliers and the widespread use in application industries, such as retail packaging, pharmaceutical, food and beverage, are expected to boost the regional market expansion.

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