Thermal Paper Market Size, Share & Trends Analysis Report By Application (POS, Tags & Label, Lottery & Gaming), By Region (Asia Pacific, North America, Middle East & Africa, Europe), And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the thermal paper market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for thermal paper market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of thermal paper market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Thermal Paper Market Categorization:

The thermal paper market was categorized into two segments, namely application (POS, Tags & Label, Lottery & Gaming), and region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The thermal paper market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The thermal paper market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eleven countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; China; India; Japan; Brazil; Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Thermal paper market companies & financials:

The thermal paper market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Ricoh Company, Ltd. , Ricoh Company, Ltd. was established in 1936 and is headquartered in Tokyo, Japan. The company is engaged in business domains such as office printing, office service, commercial printing, industrial printing, thermal media, and others such as optical equipment, electronic components, digital & industrial cameras, and 3D printing. It operates globally with 220 consolidated companies and regional headquarters in Malvern, U.S.; London, UK; and Singapore. In the U.S., the company caters to several application industries including healthcare, financial services, higher education, manufacturing, legal, retail, insurance, life science & pharmaceuticals, energy & utilities, and commercial printing & graphic communication as well as the federal, state, and local governments. Whereas, in Germany, it offers its products and services to healthcare, financial services, higher education, and the government. In addition to the above-mentioned application industries, it also caters to manufacturing applications in Italy.

• Oji Holdings Corporation ,Oji Holdings Corporation was established in 1949 and is headquartered in Tokyo, Japan. The company operates in pulp & paper industry. Major business lines of the company include industrial materials, household & consumer products, functional materials, forest resources, and environment marketing, printing & communications media, and others such as engineering, real estate, logistics, and trading. As of 2018, the company had over 36,000 employees. It began its overseas operations in 1970 and catered its products and services to Asia, Oceania, the Americas, and Europe. Industrial materials offered by the company include corrugated containers, containerboards, boxboards & folding cartons, paper bags, and packaging papers. Household and consumer products offered by the company consist of toilet tissue, wet wipes, paper diapers, and tissue papers. It provides functional materials such as specialty paper, adhesive products, films, and thermal paper. Moreover, the company offers services related to pulp, energy, lumber, and plantation. For printing & communication applications, it offers printing and publication papers and newsprints. The company utilizes renewable energy sources, including hydropower, solar power, and biomass, for its production process.

• Appvion, Inc. , Appvion, Inc. was founded in 1907 and is headquartered in Wisconsin, U.S. The company is engaged in the production and supply of high-quality papers and films. It has coating and converting facilities in Wisconsin and Ohio and operates an integrated pulp and paper mill located in Pennsylvania, U.S. The company began the production of thermal paper in 1963 and achieved the ISO 9002 certification for the production in 1992. In 2006, it started manufacturing thermal paper without bisphenol A (BPA) and has been using vitamin C since 2014. Major brands associated with the company include Appleton Coated, Appleton, Appleton Papers Inc., Appleton Papers. The company produces thermal papers for labels, films, gaming, ticket & tag, medical, point of sale, clean slate, and Triumph digital thermal media. In addition, it offers a range of water-based specialty coatings and application technologies. Moreover, Appvion, Inc. also offers an extensive line of FDA coatings. The company is also engaged in the production of carbonless, thermal, inkjet, digital specialty, security, and colored papers. It offers direct thermal label products used for barcode applications requiring chemical, resistance, and environmental properties. Appvion, Inc., formerly known as Appleton Papers, changed its name in 2013. Appvion, Inc. reflects the company’s heritage of innovation in applying chemistry to paper and microencapsulation.

• Koehler Group , Koehler Group was established in 1807 and is headquartered in Oberkirch, Germany. The company is engaged in the production and supply of paper products. It operates through four manufacturing facilities: Greiz, Weisenbach, Oberkirch, and Kehl. The company’s subsidiaries are Papierfabrik August Koehler SE, Koehler Kehl GmbH, Koehler Greiz GmbH & Co. KG, and Katz GmbH & Co. KG. It consists of three entities Koehler Energy Group, Koehler Innovative Solutions, and the KATZ Group. The annual production capacity of the company is more than 500,000 tons. It offers its products in various regions including Europe, the Americas, Africa, and Asia & Australia. The facility located at Kehl is installed with ultra-modern machinery that produces thermal paper and décor paper. Two dedicated pieces of machinery are engaged in the production of thermal paper in this facility.

• Mitsubishi Paper Mills (MPM) Limited ,Mitsubishi Paper Mills (MPM) Limited was established in 1898 and is headquartered in Tokyo, Japan. The company processes, produces, and sells products, including photosensitive materials, pulp, and paper. It manufactures and develops printing plate materials, paper, and printing systems supporting offset and other printing processes. The company's primary production facilities and R&D centers are located in Japan and Germany. The company's sales network covers regions such as the U.S., Japan, and Germany. The production facilities in Japan are in Takasago, Kyoto, Hachinohe, Shirakawa, Kitakami, and Shizuoka. The production facilities in Germany are located in Bielefeld and Flensburg. Moreover, it has facilities in China and Mexico that produce paper products. It supplies recording format media, including thermal, pressure-sensitive, electrographic, magnetic, inkjet, and silver halide photography papers. The products and services offered by the company include graphic art materials, photographic materials, inkjet media, thermos memory, thermos rewrite, battery separator, air filters, production inkjet paper, electronics-related products, sign & display units, and healthcare & amenity services. It offers thermal recording papers that can be rewritten several times and are used with magnetic media. These papers are applied to tapes, sheets, and labels and find major applications in the creation of identity cards, access control cards, loyalty cards, and industrial uses.

• Hansol Paper Co., Ltd. , Hansol Paper Co., Ltd. was established in 1965 as Saehan Paper Co., Ltd and changed its name to Hansol Paper Co., Ltd. in 1992. It operates as a subsidiary of Hansol Holdings and has associated subsidiaries such as Hansol Denmark ApS, Schades A/S, Hansol Artone Paper, and R+S Group GmbH. The company produces and supplies high-quality paper products, including carton board, writing, specialty, and thermal papers. It has a sales network in the UK, France, the Netherlands, Finland, Sweden, Belgium, China, South Korea, and the U.S. The business portfolio of the company includes printing & writing paper, carton board, specialty paper, and thermal paper. The thermal papers offered by the company are widely used in applications such as POS, labels, gaming, and tickets and tags.

• Gold Huasheng Paper Co., Ltd. , Gold Huasheng Paper Co., Ltd. was established in 1996 and is headquartered in Shanghai, China. The company produces and supplies papers across major North America, Asia, Oceania, and Europe economies. The company's annual production capacity is more than 1 million tons, and it produces office papers, carbonless papers, and coated & uncoated wood-free papers adhering to international standards. The product portfolio offered by the company includes thermal paper, carbonless papers, and coated & uncoated papers. Thermal papers the company offers under Thermatec are used in applications such as POS, fax, printing operations, and labeling.

• Henan Province JiangHe Paper Co., Ltd. , Henan Province JiangHe Paper Co., Ltd. was founded in 2002 and is headquartered in Henan, China. The company is engaged in producing and supplying carbonless and thermal papers. It mainly exports paper products to overseas markets. The annual production capacity of the company is over 450,000 million tons. Major brands associated with the company include JHE Carbonless, NBNCR Carbonless, JHE plus Carbonless, JH-Image, and JHT Paper. It produces thermal and carbonless paper from 100% wood pulp under a certified system (ISO 9000:2000). Subsidiaries associated with the company include Henan Nanbei Paper, Henan DaZhi Paper Machinery, JiangHE Bio-Energy Company, and Wuzhi Guangyuan Paper. The company's product portfolio includes hi-bulk publishing paper, carbonless paper, highquality thermal paper for fax, POS, ATM & printed thermal paper rolls, security papers, release line base paper, glassine base paper, thin printing paper, and bond papers.

• Thermal Solutions International, Inc. (TSI) , Thermal Solutions International, Inc. (TSI) was established in 2001 and is headquartered in Jacksonville, Florida, U.S. The company is engaged in producing and supplying imaging and labeling products. Major applications served by the company include manufacturing, distribution, retail, airlines, industrial, and healthcare. The company's paper products are used in commercial and industrial applications in over 25 countries across the globe. Its distribution centers and sales offices are located across North America. It offers services such as account management, inventory management, warehousing and distribution, and consulting. The company's product portfolio includes labels, paper rolls and thermal tickets, and printer inks. The company's label products are point-of-sale labels, GHS labels, inkjet labels, variable data labels, thermal labels, and sheeted laser and inkjet labels. Paper rolls offered by the company include small thermal, bond & carbonless rolls, recycled thermal paper, jumbo thermal paper rolls, and thermal tickets. It provides printer inks such as inkjet cartridges, thermal transfer ribbons, dot matrix printer ribbons, and laser toner cartridges.

• Jujo Thermal Limited , Jujo Thermal Limited was established in 1992 and is headquartered in Kauttua, Finland. The company is a Nippon Paper Industries Co., Ltd. subsidiary and manufactures one-side coated and self-adhesive label face stock. In addition, it operates as a supplier of thermal papers used in tags and tickets, labels, medical charts, and point-of-sales. The company offers a range of thermal papers, including non-phenol and non-BPA thermal papers. It provides various services such as chemical analysis, process analysis, study of paper converting, related issues, and research on printability. The company's technical service is linked with the central research facilities of Nippon Paper Industries, located in Tokyo, Japan. Every phase of the paper-making and converting process is simulated in Nippon Paper Industries before it is performed in Jujo Thermal Limited.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Thermal Paper Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Thermal Paper Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.