The Global Thermal Paper Market size is expected to reach $5.5 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period.
Thermal paper is a special type of paper produced with special coating that enables to print without ink. A clear image is created on the paper with no need for ribbons or inks when heat is applied to the coating. Normally the coating turns black on the heating, which transfers the image to the paper in turn. Thermal paper is the key component of thermal paper printing, which due to its low energy consumption and low maintenance costs, is considered one of the most economical printing technologies.
Positive application outlook across industries such as packaging, printing and logistics is expected to generate lucrative opportunities for market participants to increase their sales. Transactional documents include graphics and logos for service records, financial documents, contract documents, and product order forms, history of customer orders, accident reports, and price quotes. Even in unfavorable environmental and rough handling situations, transactional documents need to be durable, legible and have a professional appearance. Due to the rapid adoption of top-coated thermal papers, the images created remain readable under proper storage conditions even throughout 20 to 25 years.
Based on Technology, the market is segmented into Direct Thermal, Thermal Transfer and Others. Based on Application, the market is segmented into Point-of-Sales, Tags & Labels, Gaming & Lottery and Others. A higher importance of labeling is driving the market in industries such as pharmaceutical and food and beverage to provide detailed information without adulteration. In addition, growing use of RFID tags in the medical and healthcare industry is driving thermal paper demand.
POS terminals are extensively used in transactions in hospital, retail, warehouse, and entertainment industries due to improved paper durability compared to others. Therefore, the growth of the POS terminal industry is expected to drive thermal paper market. The demand is also being fueled by the launch of advanced POS with reliability and durability. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Recent strategies deployed in Thermal Paper Market
Acquisition and Mergers:
- Oct-2019: Ricoh acquired DocuWare, a Germany based document management and workflow automation Solutions Company. This acquisition helps the company in opening new horizons and further strengthening its participation in projects on the global level.
- Jun-2017: Oji took over 76% shares of Tele-Paper (M) Sdn. Bhd., a Malaysian Company that manufactures and sells carbonless and thermal papers. This acquisition is expected to complement the business of Oji.
- Jul-2017: Nippon introduced b7 LIGHT, a new product in the "b7" series. It is a wood free-based printing paper and offers superior shelf life. It delivers natural and rougher color tone and softer page turning experience.
- Nov-2019: Oji has decided to expand its operations of thermal paper production to Brazil by making investment at Oji Papis Especiais Ltda. This company is engaged in producing carbonless and thermal papers; this is expected to enhance its reach and revenues.
- Jan-2019: Ricoh expanded its reach to Europe by making investment in its Ricoh Industrie France S.A.S. for doubling its coater production capacity that applies thermal coatings onto paper. This expansion is expected to be focused towards the manufacturing and distributing thermal paper and thermal transfer ribbons.
Scope of the Study
- Direct Thermal
- Thermal Transfer
- Tags & Labels
- Gaming & Lottery
- Ricoh Company Limited
- Oji Holdings Corporation (Mitsui Group)
- Appvion, Inc.
- Mitsubishi Paper Mills Ltd.
- Gold Huasheng Paper Co., Ltd.
- Henan Province JiangHe Paper Co., Ltd.
- Thermal Solutions International, Inc.
- Nippon Paper Industries Co., Ltd. (Jujo Thermal Ltd.)
- Rotolificio Bergamasco S.r.l.
- Koehler Paper SE
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