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Thermal Paper Market Size Analysis 2024: Understanding Market Share and Growth Opportunities | By Business Research Company
Thermal Paper
The Business Research Company offers in-depth market insights through Thermal Paper Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The thermal paper market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to growth of banking and financial services, logistics and transportation sector growth, healthcare industry demand, government initiatives for digital receipts, convenience in label printing, environmental and cost considerations..
The thermal paper market size is expected to see strong growth in the next few years. It will grow to $6.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to expansion of smart packaging, rise of contactless payment systems, demand in emerging economies, shift towards sustainable thermal pape, customization and branding needs.. Major trends in the forecast period include advancements in printing technologies, increasing use of bpa-free thermal papers, customization and specialty thermal papers, growing retail and point-of-sale (pos) applications, collaborations and partnerships..
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Market Segmentation:
The thermal paper market covered in this report is segmented -
1) By Type: Top Coated, Non-Top Coated
2) By Technology: Direct Thermal, Thermal Transfer, Other Technologies
3) By Thickness: 60-80 Microns, 80-90 Microns
4) By Application: POS Receipts, Lottery and Gaming Tickets, Labels and Tags, Other Apllications
5) By End User: Retail Industry, Healthcare, Packaging and Labelling, Printing and Publishing, Entertainment and Transit, Other End Users
Major Driver - Rising Demand For Sustainable Labelling Drives Growth In The Thermal Paper Market
The demand for sustainable labelling practices is driving the growth of the thermal paper market. Sustainable direct thermal solutions are in high demand in the e-commerce and logistics industries. The industry is projected to move toward more renewing methods with recycled direct thermal papers as demand for sustainable labeling standards grows. For instance, in February 2022, according to the FATitudes survey conducted in 2021 among approximately 6,000 primary grocery shoppers in 11 countries by Cargill Incorporated, a US-based food corporation, more than half (55%) of customers worldwide are more likely to buy a packaged food item that is labelled with a sustainability label promise. 37 percent of the 550 Americans who took part in the survey claimed that a sustainability claim will affect their purchasing decisions, which is a six-point rise from 2019. Therefore, the demand for sustainable labelling practices is expected to propel the growth of the thermal paper market over the coming years.
Competitive Landscape:
Major companies operating in the thermal paper market report are Ricoh Corporation, Oji Holdings Corporation, Appvion InCorporated, Jujo Thermal Limited, Lecta Group, Koehler Paper Group, Mitsubishi HiTec Paper Europe GmbH, Hansol Europe BV, Gold HuaSheng Paper Company Limited, Papierfabrik Wattens GmbH & Co. KG, Henan Province JiangHe Paper Company Limited, Thermal Solutions International Inc., Rotolificio BergamasCo. Srl, PM Company LLC, Nakagawa Manufacturing Co. Ltd., Siam Paper Co. Ltd., Nantong Xiujun Imp.& Exp.Co. Ltd., Zhejiang Youcheng New Materials Co. Ltd., Shanxi Oceano Paper Co. Ltd., Tianjin Jinlida Paper Co. Ltd., Jiangsu Guoli Science & Technology Co. Ltd., Xiandai Paper Co. Ltd., PapiCo. Ltd., Guofeng Fine Paper Co. Ltd., RP Paper Impex Pvt. Ltd., Apex Paper International Inc., Stellar Paper Products Private Limited, Daio Paper Corporation, TOPPAN PRINTING COMPANY Ltd., Canon Inc.
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Top Trend - Technological Advancements Transforming The Thermal Paper Market
Technological advancement is a key trend gaining popularity in the thermal paper market. Major companies operating in the thermal paper market are focused on developing technologically advanced products to sustain their market position. For instance, in August 2022, VFP Ink Technologies, a Germany-based company engaged in developing and manufacturing high-tech industrial inks and varnishes, launched 1470579 Blue Clean 70 g/m2, a new chemical-free thermal paper. The product is suitable as a food-contact adhesive material. The new material can be printed on commonly used direct thermal printers and is developer-free. It features a four-layer structure made up of plain paper, a layer of black pigment, an opaque functional layer that gives the paper its blue coloration, and a layer of protection against mechanical harm. The opaque layer turns translucent when heated, revealing the black layer behind, and this is how the printed picture is physically produced.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Thermal Paper Market Characteristics
3. Thermal Paper Market Trends And Strategies
4. Thermal Paper Market - Macro Economic Scenario
5. Thermal Paper Market Size And Growth
…..
27. Thermal Paper Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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