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MA20116670 |
Pages: 280 |
Jan 2021 |
Thermal Paper Overview
Thermal paper is often used in situations where quick printing is required, such as in retail stores for printing receipts. It offers several advantages, including fast printing speed, low maintenance requirements, and the ability to produce high-quality prints. Thermal paper does have certain restrictions though; the prints might not be appropriate for long-term document keeping, since they can fade over time when exposed to heat and light or chemicals. Thermal paper can also cost more than regular paper and because of the chemical coating it cannot be recycled. Despite these limitations, thermal paper remains widely used in various industries due to its convenience and efficiency in producing immediate prints without the need for ink cartridges or ribbons.
Global Thermal Paper Market Analysis
The global thermal paper market size was $4.08 billion in 2022 and is predicted to grow at a CAGR of 4.9%, by generating a revenue of $6.42 billion by 2032.
COVID-19 Impact on Global Thermal Paper Market
The Covid-19 pandemic has had a significant impact on the thermal paper market. As people started to work remotely and businesses implemented safety measures, there was a decline in overall economic activity. This decline resulted in reduced demand for thermal paper products. Many businesses and industries that heavily relied on thermal paper, such as retail, hospitality, and transportation, experienced a downturn. With restrictions on travel, closure of non-essential businesses, and reduced consumer spending, there was a decrease in the usage of thermal paper for applications like receipts, tickets, and labels. However, it is worth noting that the impact of the pandemic on the thermal paper market varied across regions and sectors. Some industries, like healthcare, logistics, and online retail, experienced increased demand for certain types of thermal paper products due to the surge in e-commerce and the need for shipping labels, healthcare records, and medical prescriptions. Overall, the Covid-19 pandemic resulted in a decline in the thermal paper market due to reduced demand and supply chain disruptions. However, as the global situation improves and economic activities resume, it is expected that the market will gradually recover.
A Cost-Effective and Eco-Friendly Printing Solution Offered by Thermal Paper to Drive the Market Growth
Thermal paper allows for quick and hassle-free printing without the need for ink or toner cartridges. It uses heat to create images and text on the paper. Since thermal paper doesn't require ink or toner, it eliminates the ongoing expenses associated with replacing cartridges. This makes it a cost-effective printing solution, especially for high-volume printing needs. Without the need to replace ink or toner, thermal printers and paper require minimal maintenance. This saves time and effort in terms of printer upkeep. Thermal paper prints tend to have good image longevity. They can withstand exposure to heat, light, and moisture for an extended period without significant fading or degradation. The thermal paper doesn't utilize ink or toner, reducing the environmental impact associated with cartridge production, usage, and disposal. It also doesn't generate waste from empty cartridges. Thermal printers generate prints instantly, making them suitable for situations where speed is crucial, such as point-of-sale transactions or on-the-spot ticket printing. These positive aspects make thermal paper a popular choice for many businesses and industries that prioritize efficiency, cost-effectiveness, and convenience in their printing needs.
Limitations of Thermal Paper for Printing Applications Restraint the Market Growth
Thermal paper is highly sensitive to heat. If exposed to high temperatures, such as direct sunlight or hot environments, the paper can darken or become discolored, affecting the quality of the printout. Thermal paper has a relatively short lifespan compared to other types of paper. The printed content may gradually disappear or fade away, making it difficult to maintain long-term records or important documents. Thermal printing generally produces lower-quality prints compared to other printing methods. The resolution and color range are usually limited, resulting in less detailed and vibrant output. Thermal paper is not suitable for all printing applications. It cannot be used for printing photos, high-resolution graphics, or documents that require long-term preservation, as the quality and durability may not meet the necessary standards.
Advancements in Thermal Paper to Drive Excellent Opportunities for Future
In the future, thermal paper is expected to undergo several upgrades to enhance its performance and functionality. The upgraded thermal paper could have increased resistance to fading or deterioration over time. This would ensure that printed images and text remain clear and legible for extended periods, improving document longevity. Future thermal papers might utilize more environmentally friendly formulations, reducing their impact on the environment. These advancements could involve the use of alternative materials or eco-conscious manufacturing processes. Upgraded thermal papers could feature a smoother surface finish, resulting in improved print resolution and reduced friction during printing. This would lead to crisper images and enhanced overall printing quality. Future thermal papers might be designed to be compatible with a broader range of thermal printers. This would increase flexibility for users, allowing them to utilize the paper with various printer models and brands. The upgraded thermal paper could incorporate advanced security features, such as watermarking or anti-counterfeiting measures. These enhancements would provide increased protection against forgery and unauthorized duplication. These technological advancements are expected to provide numerous growth opportunities to the market in the forecast period.
Global Thermal Paper Market, by Application, 2022
The POS sub-segment accounted for the highest market share in 2022. POS (Point of Sale) is the dominant application of thermal paper because it offers several advantages for businesses. Thermal paper is heat-sensitive, and when heat is applied to it, it creates images or text. This characteristic makes it ideal for printing receipts in point-of-sale systems. Thermal paper is cost-effective because it does not require ink or toner cartridges like traditional printers. This eliminates the need for frequent replacement and reduces operating costs for businesses. Additionally, thermal printers are generally faster and quieter than other types of printers, allowing for efficient and smooth transactions at checkout counters. Furthermore, thermal paper offers high-quality printouts with sharp and clear text, making it easy to read for customers and store owners alike. The printed receipts on thermal paper are also resistant to smudging and fading, ensuring that the information remains intact and legible over time. These advantages offered by thermal paper have made them ideal for POS machines which is expected to push the growth of this sub-segment.
Global Thermal Paper Market Share, by Region, 2022
The Asia-Pacific thermal paper market generated the highest market share in 2022. Asia Pacific is the dominating region for the use of thermal paper due to several reasons. Firstly, the region has a large population, which leads to increased usage of receipts, tickets, and labels that require thermal paper. With more people, there is a higher demand for products and services, resulting in greater utilization of thermal paper. Secondly, many countries in the Asia Pacific region have a thriving retail and hospitality industry. Thermal paper is extensively used in these sectors for printing receipts and invoices. The rapid growth of e-commerce in the region has further fuelled the demand for thermal paper for shipping labels and packaging slips. The Asia Pacific region's economy has grown significantly in recent years, which has increased consumer spending and business activity. The increasing usage of thermal paper across several industries including transportation and healthcare and entertainment is a result of this economic progress.
Competitive Scenario in the Global Thermal Paper Market
Some of the leading companies of the thermal paper market are Oji Holdings Corp, Appvion Inc, Koehler Group, Mitsubishi Paper Mills Ltd, Hansol Paper Co. Ltd, Gold Huasheng Paper Co. Ltd, Henan Province JiangHe Paper Co. Ltd., Thermal Solutions International Inc., Iconex LLC, and Twin Rivers Paper Company.
| Aspect | Particular |
| Historical Market Estimations | 2020-2022 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Application |
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| Key Companies Profiled |
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