CHICAGO, UNITED STATES, January 30, 2023 /EINPresswire.com/ — Global thermal paper market was valued at US$ 1,457.50 million in 2021 and is forecast to reach a valuation of US$ 3,183.69 million by 2030, growing at a CAGR of 9.6% over the forecast period 2022-2030.
Request Sample Report at: https://www.astuteanalytica.com/request-sample/thermal-paper-market
The printing, packing, and publishing industries all use thermal paper, which is a significant global forest product. Thus, there is a considerable need for thermal papers in end-user industries like transportation, food & beverage, electrical & electronics, printing industry, etc. The global thermal paper market has been pushed by the rise in the use of electronic systems and the adoption of Multi-page Printing specifications (MPS). The increase in domestic thermal paper manufacturing as a result of strict environmental restrictions in Europe and the Asia Pacific area is another significant factor in this expansion.
Growing Demand from Labelling and Packaging
Consumer demand for items made of thermal paper has increased recently, which is good news for the packaging and labeling sector. This is a result of the rising use of electronic devices with various screen sizes, such as tablets, smartphones, and laptops. By absorbing the heat produced by the screen, the thermal paper keeps these gadgets from overheating.
The fact that thermal paper may be printed on both sides without degrading the quality or functionality of the end product is one of the key factors contributing to its versatility. This makes thermal paper the ideal material for labels and packaging, where both aesthetics and usability are crucial. In order to develop distinctive items that stand out from the competition, manufacturers can also select from a number of printing textures and colors.
Labels, stickers, and flyers can all be printed on thermal paper for a variety of uses. Small businesses also like these goods because they don’t need sophisticated printing or cutting equipment. Labels and stickers can be simply printed by consumers at home, where they can subsequently be applied to their products. Thermal papers may be used repeatedly before needing to be replaced and have a long lifespan.
Increasing Application of POS Terminals in Retail Stores
Since thermal paper is primarily utilized in POS machines for bill printing, factors including the rising use of POS terminals in the retail sector are propelling the market’s growth. POS terminals are also being utilized in warehouses and retail establishments as a result of the increased emphasis on digitization and changing preferences for digital payment
Additionally, it has been shown that merchants are increasingly implementing a centralized inventory management system in their locations since it facilitates the efficient handling of bulk purchases and products. Due to its smoother and quicker reaction than traditional paper printing, this has increased the demand for POS terminals that employ thermal paper for bill printing.
Thermal paper has a huge impact on the rise in point-of-sale terminal usage that retailers are currently witnessing. Compared to standard check paper, this type is thought to be more dependable, safe, and less prone to theft or loss.
Retailers are increasingly looking for ways to cut costs and processing time, which is causing the thermal paper market to expand quickly. In comparison to other payment methods, the thermal paper has a number of advantages, including the ability to perform transactions swiftly and simply. Additionally, environmental elements like humidity and light have little impact on thermal paper. This makes it a popular option for companies like eateries or convenience stores that must receive payments from clients in close proximity.
Rising Digitalization of Transaction
The demand for thermal paper could decrease as more people utilize digital payment methods. This is due to the fact that thermal paper is typically used for in-person transactions like card purchases or cash transactions. Though, customers will probably start spending more on these alternatives as digital payment methods gain popularity. In fact, if a digital payment option offered more ease, 93% of poll participants said they would switch to it.
Given that conventional thermal paper products are incompatible with the majority of digital payment methods, this trend might have a detrimental effect on merchants and thermal paper manufacturers. For instance, neither Apple Pay nor Samsung Pay is compatible with thermal paper. Customers who want to use these platforms must therefore rely on alternative methods, such as utilizing a card reader or smartphone app. Consequently, when customers transition to more practical choices, demand for thermal paper may decrease.
In 2021, the top coated segment accounted for a significant share of about 72% of the global thermal paper industry. Throughout the projected period, we anticipate the segment will continue to rule. Top-coated products are the most popular or desired ones in the market as they get less damaged by moisture, light, chemicals, and other impurities than non-top-coated products. Along with this, the high-speed printing capability, which is particularly useful in printing more labels in a shorter amount of time, also contributes to the segment’s growth.
In 2021, the 70-80 microns segment value was US$ 527.60 Million in the global thermal paper industry. As a result, it became the market segment with the highest revenue production. Additionally, it is likely to expand at a CAGR of 10%, which is the fastest during the forecast years.
Additionally, receipts between 70 and 80 microns are regarded as heavy-weight and extremely durable. Therefore, thermal paper with a thickness of 70–80 microns is frequently installed in POS devices.
Printing Technology Analysis
In 2021, the thermal transfer segment dominated the global thermal paper industry, recording a valuation of US$ 830.71 Mn. Wax-based ribbons are used in thermal transfer printing, which produces durable images that are long-lasting and of a high standard. The thermal transfer printing process is more practical and advantageous in terms of environmental factors and the longevity of printing media.
In 2021, the point-of-sale terminals segment held a share of 71.6% of the global industry and will project a growth rate of 9.9% from 2022 to 2030. In addition, the segment registered a revenue of US$ 1,043.60 Mn.
End User Analysis
In 2021, the retail segment acquired the maximum share of 71.6% of the global market. In addition, by 2030, the segment will grow at a share of 73.1%. The segment is also likely to expand at a CAGR of 9.9% over the course of the projection year. Today, thermal papers are mostly employed in grocery shops and retail establishments for a variety of purposes, including POS receipts and faxes. Every retail transaction, regardless of whether it involves a bill or warranty slip, requires a receipt that the shop gives to the customer.
Asia Pacific is likely to exhibit a growth rate of 11% following South America growing at a CAGR of 9.7%. APAC has the highest customer of POS terminals. Japan, India, Australia, and China are the countries with the fastest-growing markets. Our research indicates that various governments in the area, particularly in China and India, are making every effort to facilitate digital transactions and move toward a cashless economy.
In addition, the region has a significant presence in the manufacturing and pharmaceutical industries, where demand for product packaging and labeling drives the thermal paper industry.
North America ranked as the second-largest market in the year 2021. Numerous cutting-edge payment methods, such as contactless payments and credit card transactions, have fueled product demand in the region.
Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/thermal-paper-market
The prominent competitors in the global thermal paper market are:
Thermal Solutions International Inc
Koehler paper group
Oji Holdings Corporation
Nakagawa Manufacturing (USA) Inc
Henan Jianghe Paper Co. Ltd.
Mitsubishi HiTech Paper
Jujo Thermal Paper
Other Prominent Players
The global thermal paper market segmentation focuses on Type, Width, Printing Technology, Application, End-User, and Region.
By Printing Technology
Lottery systems and ticketing centers
Point of Sale Terminals
Document and Labels
Printing and Publishing
Entertainment and Transit
Packaging and Labelling
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
Looking For Customization: https://www.astuteanalytica.com/ask-for-customization/thermal-paper-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
email us here
Visit us on social media:
The content is by EIN Presswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.
Comments are closed.