Global Thermal Paper Market: Overview

Thermal paper changes colour upon exposure to heat & light owing to the presence of a coating pigment. In addition, these papers are highly durable and have high sensitivity towards external adulteration. As a substitute for cash registers, thermal papers are generally used in POS terminals to serve banking, retail, medical and entertainment industries owing to their compatibility with several types of printing machines. Thermal papers provide a clear print for an extended period as compared to traditional print paper. Nowadays, the demand for BPA-free or Phenol-free thermal paper has witnessed significant growth for linerless applications.

Global Thermal Paper Market: Dynamics

Advancements in thermal transfer technology is estimated to drive potential growth opportunities during the forecast period owing to its capability to deliver multi-colour paper. Moreover, the rising demand for thermal paper for asset tagging as well as certification labels for cold storage products & laboratory specimens is also expected to drive the market over the forecast period.

However, a substantial increase in online POS (or mobile-POS), especially in developed countries, is expected to hamper the growth of conventional paper tags & labels, which is, in turn, expected to hamper the demand for thermal paper in the coming years.

Global Thermal Paper Market: Company Developments and Industry-Level Trends

Key market participants are focusing on improvements in terms of thermal paper design as well as advancements in manufacturing equipment/applicators across the globe.

  • In 2017, Mitsubishi HiTec Paper launched THERMOSCRIPT LL 77 series of thermal papers at Labelexpo Europe 2017 in Brussels to offer a cost-effective phenol-free linerless labelling solution. Mitsubishi HiTec Paper offers a wide range of excellent coated specialty papers.
  • In October 2018, BIXOLON Europe GmbH, which is a subsidiary of BIXOLON Co. Ltd. and a leading manufacturer of label, POS and mobile printers, announced the launch of the new Direct Thermal POS printer, an SRP-E300 cost-efficient and durable 3-inch (80mm) printer. It has a cost-effective ticket and receipt printer, which makes it ideal for banking, retail and hospitality applications. 

Global Thermal Paper Market: Segmentation

The global thermal paper market can be segmented on the basis of printing technology and applications.

The global thermal paper market can be segmented on the basis of printing technology type into:

  • Direct Thermal
  • Thermal Transfer
  • Others

The global thermal paper market can be segmented on the basis of applications into:

  • Thermal paper for Point of Sale & Fax Applications
  • Thermal paper for Lottery & Gaming Applications
  • Thermal paper for Transport Applications
    • Boarding Pass
    • Train Ticket
    • Parking Ticket
    • Others
  • Thermal paper for Medicinal Applications
  • Thermal paper for Banking, Financial Services and Insurance (BFSI) Applications
  • Thermal paper for Packaging Labels & Tags Applications
  • Other Thermal paper Applications (Security paper, etc.)

Global Thermal Paper Market: Regional Outlook

The global thermal paper market is segmented into seven regions, namely Latin America, North America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific Excluding Japan (APEJ) and Japan.

The market for paper-based packaging is largely established in developed economies like USA, Germany and Japan owing to the highly developed manufacturing & service industries in this regions. Advanced manufacturing equipment, coupled with strong research & development, has contributed to market growth in these countries.

However, China has a competitive advantage due to low manufacturing cost as compared to the other countries, and this is expected to sharply improve its share in the international market. At present, China is the one of the largest consumers of thermal paper, however, it has lagged in quality, and this has led to the production of low-end thermal papers.

Global Thermal Paper Market: Key Players

Some of the key players currently operating in the global thermal paper market are:

  • Appvion Incorporated
  • Mitsubishi Paper Mills Limited
  • Oji Holdings Corporation
  • Koehler Paper Group
  • Nakagawa Manufacturing (USA), Inc.
  • Siam Paper Public Company Limited
  • Jujo Thermal Ltd.
  • Ricoh Company, Ltd.
  • Shandong Chenming Paper Holdings Ltd
  • Henan Province JiangHe Paper Co., Ltd.
  • PM Company L.L.C.
  • Guangdong Guanhao High-Tech Co., Ltd.
  • Hansol Paper Co Ltd
  • Jiangsu Wampolet Paper Co., Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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