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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 3.8 Billion
- Forecast CAGR (2021-2026): 8%
- Forecast Market Size (2026): USD 6 Billion
Increasing demand for POS thermal receipts, rapid expansion of the food and beverage business, and expanding packaging and printing industries are expected to propel the global thermal paper market forward.
Industry Definition and Major Segments
Thermal paper is a form of paper that, when exposed to heat, changes colour without the use of traditional ink. This effect is achieved by coating the paper in heat-sensitive dyes and developers during the manufacturing process.
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Based on technology, the thermal paper market is divided into:
- Direct Thermal
- Thermal Transfer
The thermal paper market can be broadly categorised based on its applications into:
- Tags and Label
- Lottery and Gaming
The global regions for the thermal paper market include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The emergence of digitalisation has fueled the demand for POS systems in emerging regions such as India, and subsequently increased the demand for thermal paper in the industry. Furthermore, the growing importance of product labelling has had a positive impact on the thermal paper industry. The thermal paper also offers outstanding colour reproduction at high speeds and a long-lasting, fade-resistant finish. This feature allows printed bar codes to be used for POS food labelling and other applications, which has increased demand for the thermal paper during manufacturing and shipping around the world.
Key Market Players
The major players in the market are Ricoh Company, Ltd., Oji Holdings Corporation, Appvion Incorporated, Koehler Paper, Mitsubishi Paper Mills (MPM) Limited, Hansol Paper Co. Ltd, Siam Paper and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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