Thermal Paper Market Factors Affecting Buying Decision and Consumer Behaviour Analysis

Thermal Paper Industry Overview

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.

Thermal Paper Market Segmentation

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

Based on the Application Insights, the market is segmented into Point-of-Sale (PoS), Lottery & Gaming, Tags & Labels and Others

• The Point-of-Sale (PoS) segment led the thermal paper market and accounted for more than 64% of the global revenue share in 2020.
• The product is widely used in PoS machines owing to the ease of printing. In addition, the wide-ranging use of mobile PoS terminals in public utility spaces, transportation, and retail markets has supported the segment growth.
• Growing preference for cashless transactions in developing economies, such as India, China, Vietnam, and Indonesia, are driving the demand for PoS transactions and thereby propelling the product demand.
• The tags & labels segment is expected to register the fastest CAGR of 6.4% over the forecast period. Growing applications of tags & labels in the retail and food & beverage industries are expected to be the primary factors driving the segment growth.

Thermal Paper Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• MEA

Key Companies Profile & Market Share Insights

The global market is highly oligopolistic with fierce price competition between the companies. The market is characterized by tight margins. The profitability of the companies is highly dependent on the cost of raw materials and a high degree of automation to achieve economies of scale in the production process. Furthermore, the industry profit margins vary based on their integration levels.

Some prominent players in the Thermal Paper market include

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

Order a free sample PDF of the Thermal Paper Market Intelligence Study, published by Grand View Research.