Thermal Paper Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

POS is the fastest growing segment, Asia-Pacific is the largest regional market

The Global Thermal Paper Market, valued at USD 4.26 Billion in 2024, is projected to experience a CAGR of 5.83% to reach USD 5.98 Billion by 2030. Thermal paper is a specialized paper coated with a chemical layer that reacts to heat, producing printed images without the need for ink or toner, commonly utilized in point-of-sale systems, labels, and ticketing applications. The market's growth is primarily driven by the expansion of e-commerce, increasing adoption of point-of-sale (POS) terminals across retail and hospitality sectors, and the rising demand for efficient logistics and labeling solutions.

Key Market Drivers

The rising adoption of Point-of-Sale POS systems represents a fundamental driver for the global thermal paper market. Modern retail and hospitality sectors increasingly rely on efficient transaction processing, receipt generation, and inventory management, all of which are seamlessly supported by thermal printing technology. These systems facilitate rapid and silent printing without the need for ink or toner, making them ideal for high-volume environments such as supermarkets, restaurants, and various service outlets. The continuous upgrade and expansion of these infrastructures directly translates to a sustained demand for thermal paper rolls. According to NCR Voyix, in December 2023, in its press release "NCR Voyix tops in new POS installations", there were more than 390,000 new POS software installations from January to June 2023. This indicates significant investment in new POS solutions which invariably incorporate thermal printing capabilities.

Key Market Challenges

The ongoing volatility in raw material prices poses a substantial challenge to the global thermal paper market. This unpredictability, particularly concerning the specialty chemicals and coatings essential for thermal paper production, directly escalates manufacturing costs. Such fluctuating input prices impede stable production planning and consequently diminish profitability for industry participants. The unpredictable nature of these costs obliges manufacturers to either absorb higher expenses or transfer them to consumers, which can negatively affect market competitiveness and pricing strategies.

Key Market Trends

The global thermal paper market is significantly influenced by the increasing adoption of eco-conscious thermal paper formulations. This trend is driven by heightened environmental awareness, evolving regulatory landscapes regarding chemical substances like BPA or phenols, and strong consumer preferences for sustainable products. Manufacturers are investing in research and development to create thermal papers that are recyclable, compostable, or made from alternative, renewable raw materials to reduce environmental impact. This shift enables brands to align with sustainability goals and meet consumer demand for greener packaging and receipts.

Key Market Players Profiled:

• 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

Report Scope:

In this report, the Global Thermal Paper Market has been segmented into the following categories:

By Application:

• POS
• Tags & Label
• Lottery & Gaming
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Thermal Paper Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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