Global Thermal Paper Market

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

Report ID: SQMIG15A2393 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 91 | Figures: 68

Thermal Paper Market Insights

Global Thermal Paper Market size was valued at USD 4.21 billion in 2022 and is poised to grow from USD 4.50 billion in 2023 to USD 7.66 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

The conventional thermal paper had historically relied on BPA as the organic acid developer responsible for creating images on paper. However, mounting pharmacological studies highlighting the potential for endocrine disruption and fertility reduction due to transdermal absorption of BPA prompted stringent regulations from the European Union and the US-EPA. Consequently, manufacturers initiated a shift towards alternative products such as BPS and Pergafast-201 to replace BPA in thermal paper formulations. In pursuit of safer alternatives, developers such as BPS-MAE, TGSA, d-8, and d-90 have been adopted by manufacturers, recognized for their safety profiles concerning human health.

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FAQs

Thermal Paper Market size was valued at USD 4.21 billion in 2022 and is poised to grow from USD 4.50 billion in 2023 to USD 7.66 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

The competitive environment of the Thermal Paper Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. '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', 'Twin Rivers Paper Company', 'Rotolificio Bergamasco Srl', 'Jujo Thermal Ltd.'

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.

The thermal paper market faces potential limitations in its growth trajectory due to the increasing prevalence of stringent regulations from the Occupational Safety and Health Administration (OSHA). These regulations aim to restrict the levels of Bisphenol (BPA) present in thermal paper, posing a constraint on market expansion. Thermal paper bases typically incorporate coatings containing elevated levels of the toxic chemical Bisphenol (BPA), a substance under heightened scrutiny due to its potential health implications.

North America has firmly established itself as a powerhouse within the market, showcasing a commanding presence with a substantial share reaching US$ 5.0 billion in 2022. This robust market positioning underscores the region's significant influence and strong foothold in driving industry trends and revenue generation. With its sizable market share, North America stands as a key player, shaping the trajectory of the market's growth and innovation, setting benchmarks for others to follow within the industry.

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Global Thermal Paper Market

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