23 May 2019, Global thermal paper market is anticipated to witness an exponential growth in the forecast period. Thermal paper changes color upon introduction to heat & light due to the presence of a coating pigment. Furthermore, these papers are highly sensitive toward exterior adulteration. Thermal papers offer a clear print for a prolonged period as compared to traditional print paper.
The factors that propel the growth of the market include increasing awareness about the benefits of POS terminals, technological progression such as mobile wallets, online banking demand, and developments in thermal transfer technology. On the other hand, there are factors that may hamper the growth of the market including fluctuating prices and supply of raw materials and lack of skilled and trained workers. Thermal paper market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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The market could be explored by technology, application, and geography. Market could be explored by technology as Thermal Transfer and Direct Thermal. The “Direct Thermal” segment led the thermal paper market in 2017 and will continue to lead in the forecast period. In thermal paper no ribbon is used in printing. It produces the image directly on the printed material. Direct thermal printing uses chemically treated, heat-sensitive media that goes black when it permits under the thermal print head.
The key applications that could be explored in the market include Thermal paper for Lottery & Gaming Applications, Thermal paper for Fax & Point of Sale Applications, Thermal paper for Packaging Labels & Tags Applications, Thermal paper for Medicinal Applications, Thermal paper for Transport Applications (Parking Ticket, Train Ticket, Boarding Pass and Others), Thermal paper for Financial Services, Banking and Insurance (BFSI) Applications and Other applications such as Security paper. The “POS (Point of Sale)” segment led the market in 2017 and will continue to lead in the forecast period. POS (Point of Sale) is followed by Lottery & Gaming applications.
North America accounted for the major share of the thermal paper industry in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth purchasing power of the middle-income population, include rising per capita income, developing food & beverage, and tourism segments is driving the need for POS and labelling applications in this region. North America is followed by Asia-Pacific region owing to technological advancement and increasing demand.
Some of the key players that fuel the growth of the thermal paper market comprise Appvion Incorporated, Koehler Paper Group, Oji Holdings Corporation, Siam Paper Public Company Limited, Nakagawa Manufacturing (USA), Inc., Ricoh Company, Ltd., Jujo Thermal Ltd., Henan Province JiangHe Paper Co., Ltd., Mitsubishi Paper Mills Limited, Shandong Chenming Paper Holdings Ltd, Guangdong Guanhao High-Tech Co., Ltd., PM Company L.L.C., Jiangsu Wampolet Paper Co., Ltd, and Hansol Paper Co Ltd. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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