Thermal Paper Market by Application and Geography - Forecast and Analysis 2022-2026

The thermal paper market share is expected to increase by USD 1.05 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.96%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (PoS, tags and labels, lottery and gaming, and others) and geography (North America, Europe, APAC, South America, and MEA).

The thermal paper market report also offers information on several market vendors, including Appvion Operations Inc., Domtar Corp., Koehler Paper SE, Mitsubishi Paper Mills Ltd., Nippon Paper Industries Co. Ltd., Oji Holdings Corp., Ricoh Co. Ltd., Shandong Chenming Paper Holdings Ltd, Sub Lecta SA, and Thermal Solutions International Inc. among others.

Domtar Corp. - The company offers direct thermal base stock for laminating, matrix-stripping, sheeting, converting and imaging processes. Under the pulp and paper segment, the company designs, manufactures, and distributes communication, speciality, and packaging papers. The company also offers softwood, hardwood, fluff pulps and high-quality airlaid and ultrathin laminated cores.

What will the Thermal Paper Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global thermal paper market as a part of the global paper products market within the materials industry. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the thermal paper market during the forecast period. 

Thermal Paper Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Thermal Paper Market Driver

• One of the key factors driving growth in the thermal paper market is the growing preference for cashless transactions.
• In developing countries such as India and China, cashless payments through cards and digital wallets are rising in prominence. These payments for cashless transactions are accepted at various grocery stores, supermarkets, convenience stores, restaurants, clubs, parking lots, and gas pumps. A wide range of cashless payment methods is available for consumers, including debit cards, credit cards, and digital wallets such as Amazon Pay, Google Pay, Samsung Pay, and Apple Pay.
• In recent years, the digital payment mode has witnessed tremendous growth over other alternatives such as payment through cash.
• Government initiatives in India, such as Digital India, promote digital payment methods such as banking cards, Unified Payments Interface (UPI), and mobile wallets.
• A payment receipt is generated when purchases are made through cards and digital wallets. As a result, there is an increased usage of thermal paper to generate these receipts. Therefore, the growing preference for cashless transactions will drive the growth of the global thermal paper market during the forecast period. 

Key Thermal Paper Market Challenge

• The growing preference for e-receipts will be a major challenge for the thermal paper market during the forecast period.
• E-receipts are electronic versions of a bill that are issued as proof of purchase of goods and services.
• There is a growing preference among consumers for obtaining e-receipts over paper receipts due to the numerous benefits of these paperless billing alternatives.
• Paper receipts can often be misplaced, which acts as a challenge during the replacement of defective products as consumers are unable to show proof of their purchases. Additionally, there is an increasing consumer awareness regarding less utilization of paper as it is beneficial for the environment and keeps paper waste out of landfills.
• The increasing popularity and the growth of e-commerce platforms have enabled consumers to order daily essential products from online delivery platforms. The payment for these purchases is made online or paid by cash. As a result, these transactions are paperless as e-receipts are generated while making these purchases. The growing preference for e-receipts acts as a challenge for the vendors, which will negatively impact the growth of the market during the forecast period. 

This thermal paper market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Thermal Paper Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the thermal paper market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report. 

Which are the Key Regions for Thermal Paper Market?

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32% of the market’s growth will originate from North America during the forecast period. The US is the key market for thermal paper in North America. Market growth in this region will be faster than the growth of the market in the South American regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Application Segment in the Thermal Paper Market?

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The thermal paper market share growth by the PoS segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the thermal paper market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Thermal Paper Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive thermal paper market growth during the next five years
• Precise estimation of the thermal paper market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the thermal paper market industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of thermal paper market vendors

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