A newly published Fact.MR study projects the global thermal papers market to reach nearly US$ 7 Bn, expanding at a CAGR exceeding 5% throughout the 2021-2031 forecast period. Increasing deployment across key industries such as packaging & labelling and the retail industry is likely to spur future growth prospects.
From 2016 to 2020, sales of thermal papers expanded at 2% CAGR, reaching over US$ 4 Bn. With the onset of the novel coronavirus pandemic, the online retail sector has accrued impressive gains, as consumers rely on e-commerce websites to make their purchases. This reliance on virtual platforms has significantly impelled thermal papers demand, as retailers adopt them to send invoices for the items dispatched.
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Key Segments Covered
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Thickness Type
- 60-80 microns
- 80-90 microns
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End User
- Retail Industry
- Healthcare
- Packaging & Labelling
- Printing & Publishing
- Entertainment & Transit
- Other End Uses
-
Application
- Lottery & Gaming
- Labels & Tickets
- Other Applications
-
Technology
- Direct thermal
- Thermal transfer
Key Takeaway from the Market Study
- Global market for thermal papers to add nearly 2x the market value by 2031
- Packaging & labeling to be primary end user, expanding at a CAGR of 4% until 2031
- By application, point-of-sale terminals to generate nearly 70% of global thermal papers demand
- 60-80 microns thermal papers to flourish, accounting for nearly 3 out of 5 sales
- Demand for direct thermal papers to soar, expanding at a CAGR of nearly 5%
- U.S likely to expand at a CAGR of 4% with respect to thermal papers demand through 2031
- Asia to emerge as the most opportunistic market, yielding over 1/3rd of the total revenue
“As health concerns regarding BPA impact on humans, consumers are choosing organic BPA-free products in thermal papers to reduce the levels of chemicals in the manufacturing process,” says the Fact.MR analyst.
Competitive Landscape
Major players seeking to expand their customer base are hoping to gain a dominant position in the market.
- On 19th January 2021, Avery Dennison launched its first uncoated recycled direct thermal (rDT) paper label material that is commercially available on the market, which contains recycled post-consumer waste.
- Under the brand name Pergafast, Solenis produces a color developer for thermal papers. A versatile color developer, Pergafast 201 is used in all grades of top and non-top coated thermal papers. This development offers papermakers a safer alternative to bisphenol A (BPA), a chemical that disrupts hormone function.