Thermal Paper Market to Reach USD 6.03 Billion by 2028

 Thermal Paper Market Growth & Trends

The global thermal paper market size is expected to reach USD 6.03 billion by 2028 registering a CAGR of 5.2%, according to a new report by Grand View Research Inc. The growing product usage in tags & labels in the food & beverages and pharmaceutical industries is expected to drive the market growth over the forecast period. The rapid growth of the retailing industry in India, China, Indonesia, Brazil, UAE, and Saudi Arabia is boosting the use of retail transactions through PoS terminals. In addition, strict labeling norms in the food & beverages and pharmaceutical industries are further expected to boost the product demand.

The growing popularity of the gaming and casino industry across the world is also expected to provide a significant boost to the global market. Las Vegas, Singapore, and Macao are some of the most popular destinations that have gained prominence due to their gaming and casino industry. Increasing footfall at these places is expected to prove beneficial to the market growth. Companies in the Asia Pacific, particularly in Japan, have established their production units as well as strategic business channels in Europe and the U.S to cater to the buyers at the domestic level. Some of the manufacturers have formed partnerships with local roll converters for ensuring product supply to their consumers.

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Thermal Paper Market Report Highlights

• In China, the tags & label segment is expected to grow at a CAGR 6.9% over the forecast period on account of growing product adoption in tags & labels in the food & beverages and retailing industries of the country
• In 2020, the revenue for the PoS application segment in the North America region stood at USD 709.6 million owing to the wide use of PoS machines at supermarkets, cafeterias, gas stations, and retail stores
• In Germany, the market is anticipated to reach USD 264.7 million by 2028 on account of increasing product usage in tags & labels for inventory management purposes in the regional manufacturing industry
• The PoS application segment in India is expected to register a CAGR of 11.4% over the forecast owing to the continued efforts by the Government of India to promote various types of cashless transaction modes
• With the growing restrictions of Bisphenol A-based products, manufacturers are progressively launching phenol-free thermal paper products in key markets

Thermal Paper Market Segmentation

Grand View Research has segmented the global thermal paper market on the basis of application and region:

Thermal Paper Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Point-of-Sale (PoS)
• Lottery & Gaming
• Tags & Labels
• Others

Thermal Paper Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia

List of Key Players of Thermal Paper Market

• Ricoh Company, Ltd.
• Oji Holdings Corporation
• MPM Ltd.
• Appvion Incorporated
• Jujo Thermal Ltd.
• Lecta Group

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.