Thermal Paper Market Growth Factors, Key Players and Forecasts
23 May 2019, Global thermal
paper market is anticipated to witness an exponential growth in the
forecast period. Thermal paper changes color upon introduction to heat &
light due to the presence of a coating pigment. Furthermore, these papers are
highly sensitive toward exterior adulteration. Thermal papers offer a clear
print for a prolonged period as compared to traditional print paper.
The factors that propel the growth of the market include increasing
awareness about the benefits of POS terminals, technological progression such
as mobile wallets, online banking demand, and developments in thermal transfer
technology. On the other hand, there are factors that may hamper the growth of
the market including fluctuating prices and supply of raw materials and lack of
skilled and trained workers. Thermal paper market is anticipated to expand at a
significant CAGR in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
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The market could be explored by technology, application,
and geography. Market could be explored by technology as Thermal Transfer and
Direct Thermal. The “Direct Thermal” segment led the thermal paper market in
2017 and will continue to lead in the forecast period. In thermal paper no
ribbon is used in printing. It produces the image directly on the printed
material. Direct thermal printing uses chemically treated, heat-sensitive media
that goes black when it permits under the thermal print head.
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| Thermal Paper Market |
The key applications that could be explored in the market
include Thermal paper for Lottery & Gaming Applications, Thermal paper for
Fax & Point of Sale Applications, Thermal paper for Packaging Labels &
Tags Applications, Thermal paper for Medicinal Applications, Thermal paper for
Transport Applications (Parking Ticket, Train Ticket, Boarding Pass and
Others), Thermal paper for Financial Services, Banking and Insurance (BFSI)
Applications and Other applications such as Security paper. The “POS (Point of
Sale)” segment led the market in 2017 and will continue to lead in the forecast
period. POS (Point of Sale) is followed by Lottery & Gaming applications.
North America accounted for the major share of the
thermal paper industry in 2017 and will continue to lead in the forecast
period. The factors that could be attributed to the growth purchasing power of
the middle-income population, include rising per capita income, developing food
& beverage, and tourism segments is driving the need for POS and labelling
applications in this region. North America is followed by Asia-Pacific region
owing to technological advancement and increasing demand.
Some of the key players that fuel the growth of the
thermal paper market comprise Appvion Incorporated, Koehler Paper Group, Oji
Holdings Corporation, Siam Paper Public Company Limited, Nakagawa Manufacturing
(USA), Inc., Ricoh Company, Ltd., Jujo Thermal Ltd., Henan Province JiangHe
Paper Co., Ltd., Mitsubishi Paper Mills Limited, Shandong Chenming Paper
Holdings Ltd, Guangdong Guanhao High-Tech Co., Ltd., PM Company L.L.C., Jiangsu
Wampolet Paper Co., Ltd, and Hansol Paper Co Ltd. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
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