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.

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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.

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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.

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