Thermal Paper Market to accrue significant gains by 2025
Increasing demand for labelling owing to the fast expansion of e-commerce and retail industry will augment the industry expansion. Increasing product penetration in printing receipts at POS, ATM machines, price labels, has amplified the industry expansion. Adoption of cashless payment mode across several sectors including food & beverage, pharmaceutical, food services, retail industry and many more will propel the demand in forecasted time frame.
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Thermal paper market share is poised for robust growth owing to thermal paper’s exceptional speed that propels faster printing of labels for shipping or packaging and receipts for customers. One of the striking features of thermal paper is that it substantially reduces maintenance cost as service is required less frequently and complicated repairs are kept at bay. Prominently, advent of thermal paper has brought paper ecosystem in the cusp of revolution.
Regional Growth drivers are:
• North America:- Rising need of POS thermal receipts to surge industry growth
• Europe: Rapid expansion of food and beverage sector
• Asia Pacific:- Growing packaging and printing industries to boost thermal paper market
Packaging and labelling industry are gaining traction due to the rapid growth of e-commerce industry. Widening array of application for printing price tags, invoice and receipts which contains important information which is needed during the logistics support for the product. Further, increasing demand by the end-user from sectors including retail, healthcare, food and beverage and other such products will provide lucrative opportunities for thermal line of business, contributing to industry expansion.
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North America ruled the roost in thermal paper market share with a revenue share of over 30% in 2018. The rise of thermal paper industry was mainly attributed to rigorous guidelines to spot and display even subtle information of logistics, prescription drugs and packed food products. Nonetheless, the California Department of Consumer Affairs Board of Pharmacy sanctioned e-pedigree law in 2016 to streamline labelling, packaging and transactional details across supply chain. Further, unique 2D data printing matric codes underpinning thermal receipts have been aiding data maintenance on shipping products in digital forms.
Leading market players
The key market players analyzed in the global Thermal Paper Market report include Oji holdings, Ricoh Company Ltd., Appvion Inc, Koehler Paper, Hansol Paper, Mitsubishi Paper Mills (MPM) Limited, Siam Paper, Gold Huasheng Paper Co. Ltd., Henan Province JiangHe Paper Co. Ltd., Jujo Thermal Limited, Nakagawa Manufacturing Inc., Thermal Solutions International Inc., PM Company.
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