Thermal Paper Market Size, Share, Growth Analysis, By Type(Top Coating, No Top Coating), By Application(POS Applications, Medical), By Printing Technology (Thermal Transfer, and Direct Thermal) - Industry Forecast 2024-2031

Drivers

Increasing Product Demand from Label Manufacturers for Applications in E-Commerce and Logistics Industries

• The rise in the number of frequent transactions in ATMs are likely to result in an upsurge in thermal paper for printing currency notes. This is further attributed to the rise in disposable income of people worldwide and the increase in need for lifestyle upgradation that involves the use of thermal paper in the worldwide market. National Cash Systems reports a staggering volume of over 10 billion ATM transactions conducted annually in the United States alone. As a customary practice, each ATM transaction generates a receipt, typically printed on thermal paper. This escalating trend in ATM transactions serves as a catalyst favoring market growth for thermal paper used in printing these transaction receipts. The substantial rise in ATM usage underscores a significant market opportunity driven by the increasing reliance on these machines for financial transactions globally.

Restraints

Growth in Online and Paperless E-transactions Impedes the Acceptance of Thermal Paper

• The emergence of paperless 'e-receipts' has gained significant feasibility, attributed to a growing number of retail merchants and businesses transitioning towards online transactions. This shift is further propelled by the increasing prevalence of monetary transaction services such as Paypal, Unified Payment Interface (UPI), and bank cards, facilitating everyday purchases and gradually displacing paper receipts with electronic counterparts. This trend poses a potential impediment to the growth of the market for paper receipts.