The Global thermal papers market worldwide has been estimated at USD 4.261 million by 2021. The market is projected to expand at a rate of compound annual growth (CAGR), of 6 percent between 2023 and 2032.
Thermal Paper Market is growing in demand.
Thermal papers market Overview
The demand for goods will increase because of the growing popularity of POS terminals at retail stores and warehouses. Market growth is expected to be boosted due to a favorable business climate that can be attributed to the better policies of the government and an increase in consumption of South Asian countries for food and drink items as well as pharmaceuticals.
With a 64.6 percent revenue share, the POS application segment is the largest in the market in 2021. There's been an expansion of retail stores across the globe due to the rising demand for consumer goods. This has resulted in a higher demand for thermal papers for POS terminal transactions.
The growth of FMCG products in emerging economies has seen an increase in production. This has led to the growth of retail sales. This has led to an exponential increase in the need for thermal paper to create labels, tags, or receipts for POS. This has led to a surge in demand for thermal papers.
thermal paper market
Driving Factors
Customers are increasingly being asked to label products and give specific information, particularly for beverages, food items, as well as pharmaceuticals. This is to ensure that the products are not subject to adulteration. The thermal papers market is also being driven by the rising demand for labels and tags in retail stores as along with the food and beverage industries.
Thermal Paper Market Restrictions Factors
With more retailers and companies using online transactions the idea of paperless "e-receipts" is becoming more feasible. Market growth is limited by the rising use of monetary transaction services like Paypal as well as Unified Payment Interface, and the growing use of credit cards for purchases in the everyday. Further, market growth will slow due to the increasing becoming aware of the dangers of BPA consumption.
Trends in the market for thermal paper
In order to create images on paper, traditional thermal papers were made with BPA. BPA is strictly controlled by the US-EPA and the European Union. Transdermal absorption can lead to the loss of fertility and disruption in the endocrine system in accordance with pharmacological studies. Manufacturers are substituting BPA by-products like Pergafast201 and BPS. BPS-MAE as well as TGSA creators have been used by manufacturers. They are safe for the human race.
According to the European Chemicals Agency, the European Chemicals Agency discovered that BPA-based paper fell from 56.01% to 48.30 percent between 2015 and 2018, while BPS paper grew from 13.94 percent to 21.16 percent. Other developer-based papers also experienced the same growth rate of 30.06% to 30.54 percent over the same time frame. The EU has banned BPA-based papers in FY2020. The ban could result in greater development of novel software.
Recent Developments:
Jujo Thermal introduced new product names for direct thermal papers in April 2022. By simplifying the name, we hope to improve their consistency and make them more efficient. The new names are part of a larger ERP system update. The process of renewal includes visual updates to documents, such as reel labels and order confirmations.
Avery Dennison introduced the EDT on the 19th of January 2021. It's the first recycled product that is commercially available post-consumer waste direct-paper label. Direct thermal (DT) paper is a favorite due to its simplicity of use, speed of printing, and high-resolution images. It also supports a wide variety of compatible printers. The new EDT by Avery Dennison is the first non-coated recycled direct thermal paper label material.
Domtar Corporation acquired Appvion Operations, Inc. (POS)'s Point-of-Sale paper business on the 28th of April 2020. This will result in Domtar becoming a leading, integrated POS paper manufacturer.
Market Key Participants:
Local production units are where the main players are most successful. They are found across a variety of regions. This allows for a smooth supply chain for consumers. In the global market, dominant players remain forwarding and backward-integrated, making it challenging for new players to break into the market. Ricoh Company, Ltd., MPM Ltd., Oji Holdings Corporation, Jujo Thermal Ltd., Lecta Group, Hansol, Jianghe, Appvion Incorporated, etc. is the market leader in thermal papers.
Thermal Paper Market Segmentation
Market.US has separated the market for Thermal Paper by geography (North America and Europe, APAC and South America) The market is segmented by width into 2.25" (57mm), and 3.125"(80mm). Market.US is further segmented by application into Lottery & Gaming (57mm) and 3.125" (80mm).
Most frequently asked questions
What is the size of the Thermal Paper Market?
The market for thermal paper in the world was valued at USD 4.26 Billion in 2021. It is expected to reach USD 7.97 billion by 2032.
What is Thermal Paper Market growth?
The augmented Reality Market's market is expected to grow at a compound annual rate of 6percent between 2021 and 2032, eventually reaching USD 7.97 billion in 2032.
What was the segment that had the highest portion of the Thermal Paper Market?POS was the dominant thermal paper, with the highest share of 64.6 percent share by 2021. This is due to the increase in retail transactions and monetary transactions. chains.
What are the drivers behind the Thermal Paper Market?
The main driver for the market for thermal papers is the increased usage of POS terminals to make financial transactions, as a result of the growth of the eCommerce and packaging industries.
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