The global Thermal Paper market is forecast to reach USD 6.00 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the billing operations, owing to its characteristic of faster and efficient printing. However, the rising prevalence of stringent regulations from the Occupational Safety and Health Administration (OSHA), which aims to limit Bisphenol-A (BPA) levels, as thermal paper base contains at least one coating of the highly toxic chemicals, may hamper the demand of Thermal Paper in the market.
Rapid urbanization has changed the way of life of individuals and, thus, has expanded the pervasiveness of the point of sale (POS) and billing operations over a broad aspect; therefore, augmenting the demand for the market product. Furthermore, increasing awareness regarding less utilization of paper for billing applications and rising online transactions for e-commerce applications have increased the use of digital receipts, which will be hindering the growth of the Thermal Paper market.
An extensive non-fading requirement, long shelf life, quality documents during transactional procedures involving insurance receipts, accounting, and public safety, contribute to the adoption of uncoated printing. The thermal paper’s mobility enables lightweight, portable POS machines to be used to print tickets and receipts on the spot. Retail and consumer goods industries prefer POS systems, as it offers fast “tap and go” transactions, which makes it easier for shoppers to pay. The thermal transfer process was chosen as an optimal market option for the printing of UL Recognized Print, shelf labeling, outdoor application, cold storage, and barcode labels for product recognition on different products. Thermal printing is witnessing the maximum growth owing to its ability to act as a buffer between the elements in the print head and the label material. Printer ribbons provide a back-coating that works by reducing tension and friction between rough substrates to increase the print head’s existence. This printing technique allows label printing at different temperatures, which preserves print accuracy, which readability under intense light and chemical interaction for a prolonged period.
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The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic, which has cut the need for thermal paper in the market. Over a couple of months, there will be a series of both positive and negative shocks, as manufacturers and their suppliers respond to providers changing needs. With an unfortunate global situation, the export-dependent economies of many regions look vulnerable. Global Thermal Paper markets are reshaped by the effects of this pandemic, as some suppliers are either shutting down or reducing their output, due to a lack of demand from the downstream market. While some are having their production suspended by the governments of their respective nations as a precautionary measure to combat the spread of the virus. In certain regions, markets are focusing on becoming more localized, by looking at the severity of the outbreak, and the consequent actions by the individual national authorities. Under these circumstances, market conditions in Asia Pacific regions have been very fluid, declining weekly, making it challenging to stabilize itself.
Key participants include:
Koehler Paper Group, Oji Holdings Corporation, Mitsubishi Paper Mills (MPM), Ricoh Company Ltd., Siam Paper, Appvion Operations Inc., Nakagawa Manufacturing Inc., Jujo Limited, Hansol Paper, and Nakagawa Manufacturing Inc., among others.
Further key findings from the report suggest
- Based on paper coating type, Non-Top coated thermal paper generated a revenue of USD 2.54 billion in 2019 and is expected to grow with a CAGR of 4.8% in the forecast period, owing to its superior fundamental characteristics It is utilized in many applications including accounts, operating logs, purchase order types, pricing quotations, contract documentation, incident information, and many others.
- The POS receipts contributed to the largest market share in 2019. The market in the APAC region for POS receipts is the major shareholder of the Thermal Paper market and is likely to hold around 63.0% of the market the year 2027, as they are used in many sectors such as government facilities, production units, and retail centers for material management.
- The Asia Pacific region dominated the market for Thermal Paper. The consistent focus on cost-effective and innovative procedures adopted in the area is driving the market. The Asia Pacific region holds approximately 35.0% of the Thermal Paper market, followed by North America, which contains around 28.0% market in the year 2019.
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For the purpose of this report, Reports and Data have segmented into the global Thermal Paper market on the basis of type, technology, application, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Top Coated
- Non-Top Coated
Technology Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Direct Thermal
- Thermal Transfers
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- POS Receipts
- Lottery & Gaming Tickets
- Labels & Tags
Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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