Global Thermal Paper Market to Grow at a CAGR of 5.8% During 2024-2032, Aided by the Expansion of the E-Commerce Sector

Paper with a particular surface treatment that enables inkless printing is known as thermal paper. Images printed using thermal printing are quick, dependable, and high-quality. Numerous industries employ this technology, including grocery stores, retail centres, petrol stations, catering services, casinos, lottery systems, coffee shops, and bakeries.

In the Asia Pacific, thermal papers are widely used across different industry verticals. According to industry reports, globally, the compound annual growth rate (CAGR) of cross-border sales is 29%, which is twice the pace of growth of domestic e-commerce sales. Compared to other regions, the Asia Pacific continues to exhibit significantly higher growth and a larger volume of cross-border e-commerce due to growing disposable income and population expansion. The growth rate of pharmaceuticals and food, and beverages sectors and the presence of paper manufacturers in countries such as China and India contribute to the thermal paper market growth.

New product development supports the market growth. In September 2023, Mitsubishi Paper Mills Limited (MPM) (TYO: 3864) developed a new, environmentally friendly product called "Water ThermalTM", linerless thermal labels with remoistening adhesive. The expansion of e-commerce platforms such as Amazon (NASDAQ: AMZN) makes consumers increasingly interested in the labels that are affixed to the packaging.

The product is designed with the goal of reusing adhesive in order to generate a logistic label without silicone or liner. Water ThermalTM is projected to be introduced to the domestic and international markets with a well-established mass manufacturing system. The company also collaborated with Sanei Electric Inc. during the paper product development process to create the thermal printer "Hydro-EcoTM," which is intended for products with remoistening glue. The prototype printer was able to activate the adhesiveness and produce good printability with smooth handling.

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Market Analysis by Application, Technology, and Region:

• The market, on the basis of application, can be divided into POS, tags and label, and lottery and gaming, among others.

• Based on technology, the market can be divided into direct thermal and thermal transfer, among others.

• The major regional markets for thermal paper include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Thermal papers are used for receipt print in ATM transactions. According to industry reports, in the United States, ATMs handle over 10 billion transactions annually, with 40% of users making eight to ten trips there each month.

Table: Global Usage of ATMs (per 100,000 adults)

• Thermal paper offers great colouring at high speeds and a very strong, fade-resistant finish. The growing importance of thermal paper during production and shipping has expanded globally due to this capability, which makes it possible to employ printed bar codes for POS food labelling and other applications.

• Since thermal paper offers improved performance in terms of durability and high thermal stability, it can be used to create high-performance, secure, and long-lasting RFID tags. The use of thermal paper is anticipated to increase due to the growing need for RFID tags and labels due to their high durability and superior temperature resistance.

• According to industry sources, global e-commerce sales are predicted to expand by 7.6% in 2027, as total sales will reach USD 8 trillion. Thermal papers are essential for product labelling in the e-commerce supply chain. Thus, the rapid expansion of e-commerce is aiding the thermal paper market expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the global thermal paper market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the applications technologies, and major regions of thermal paper.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global thermal paper market are Ricoh Company Ltd., Oji Holdings Corporation, Appvion Operations, Inc., Koehler Paper, Mitsubishi Paper Mills Limited, and Hansol Paper Co. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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