Thermal Paper Market Size to Reach $5.85 Billion by 2027; Driven by the Increasing Emphasis on the Use of Environment-friendly Paper

The global thermal paper market size is projected to reach USD 5.85 billion by the end of 2027. The high emphasis on the adoption of environment-friendly paper in printing will create several opportunities for the companies operating in the market. According to a report published by Fortune Business Insights, titled “Thermal Paper Market Size, Share & Industry Analysis, By Width (2.25”, 3.125”, and Others), By Printing Technology (Direct Thermal, Thermal Transfer, and Others), By Application (Point-of-Sale, Tags & Labels, Ticketing, Lottery & Gaming, Medical, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 3.45 billion in 2019 and will exhibit a CAGR of 6.9% during the forecast period, 2020-2027.

Thermal paper is a product that is derived through a combination of several compounds. This product is developed in a way that it is able to transform its color when it is subjected to heat. The applications of this paper across diverse industry verticals will create several opportunities for the growth of the overall market in the coming years. Accounting to the increasing applications of the, there are several market entrants. Thermal paper is inclusive of heat-sensitive dyes and color developers. They are mostly used in applications that require receipts and printouts at a faster pace including point-of-sale terminals, ATMs, credit card terminals and several others. Recent advancements in quality and content of the paper through which they are manufactured will bode well for the market in the coming years. The emphasis on environment-friendly papers will open up a huge potential for the companies operating in the market.

Ricoh Industries Announces Expansion of Production Line

The report highlights a few of the major industry developments of recent times and discusses their impact on the overall market. Accounting to the massive demand for this type of paper across the world, several companies are looking to adopt strategies that will help them establish a stronghold in the market. Some companies are looking to invest more in product R&D, while others are looking to increase the production.

In March 2019, Ricoh Industries announced that it will be expanding its production capacity. The company announced that it will be integrating a new machine to maximize the production capacity and enable double the production of this paper. The company states that it has invested around USD 24 million in this machine and through the integration of a new strategy to improve production capacity; the company will look to strengthen its partnerships with existing companies. The company will further look to form new collaborations, with a view to establishing a stronghold in the market. Ricoh Industries’ latest strategy will not just benefit the company but will also have a direct impact on the growth of the overall market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/thermal-paper-market-102811

Increasing ATM Transactions Will Have a Positive Impact on Market Growth

The increasing number of ATM transactions across the world will lead to a wider adoption of thermal paper which is used in printing receipts after every ATM transactions. As most people prefer a faster lifestyle, ATM is used over bank transactions; a factor that is vital to the growth of the overall market. The report includes a few of the other factors that have contributed to the growth of the market and discusses their impact on the growth of the overall market. 

Major Companies are Focused on Mergers and Acquisitions

Accounting to the massive demand for thermal paper across the world, several companies are looking to collaborate with a view to acquiring a wider consumer base. It is seen that mergers and acquisitions have helped major businesses across the world, and thus, it is the most widely adopted strategy by most companies.

List of companies profiled in the report:

• Lecta (Spain)
• Hansol Paper (Korea)
• Appvion Operations, Inc. (USA)
• Domtar Corporation (USA)
• Ricoh Industrie France SAS (France)
• Mitsubishi Hi-Tech Paper (Germany)
• Koehler Paper Group (Germany)
• Kanzaki Specialty Papers, Inc. (USA)
• Jujo Thermal Ltd. (Finland)
• Oji Paper Co., Ltd. (Japan)
• Kanzan Spezialpapiere GmbH (Germany)
• Iconex LLC (UK)
• Telemark Diversified Graphics (USA)
• Panda Paper Roll (China)
• Nakagawa Manufacturing (USA), Inc. (USA)
• Suzhou Xiandai Paper Production Co., Ltd. (China)
• PG Paper Company Ltd. (UK).
• Thermal Paper China (China)
• Chenming Group (China)
• Guangdong Guanhao High-Tech Co., Ltd. (China)
• Other Key Players

Industry Developments:

• February 2020: Koehler Paper Group announced that it has completed the acquisition of Beaver Paper & Graphic Media, Inc., a manufacturer of sublimation media. Koehler will look to combine the expertise of both the companies to develop a superior portfolio of sublimation media used in printing.

The global thermal paper market is segmented on the basis of: