Thermal Paper Market Size, Share & Trends Report

Thermal Paper Market Size, Share & Trends Analysis Report By Technology (Direct Thermal, Thermal Transfer), By Application (POS, Lottery & Gaming, Tags & Label), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-690-5
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 110

Industry insights

The global thermal paper market size was valued at USD 3.20 billion in 2018 and is projected to expand at a CAGR of 7.7% over the forecast period. The growth is attributable to the rising POS terminals market and high demand for labels. Moreover, growing food and beverage industry in developing economies, such as China, India, and Middle East is expected to propel the demand.

Thermal paper is widely used in POS terminals since it offers moisture resistance, barcode scan ability, and high temperature stability. Furthermore, exceptional features of thermal paper like durability in comparison to the traditional conventional printed paper and expansion of POS terminals is expected to fuel the market.

U.S. thermal paper market

Growing retail sector in the developing economies, such as China, India, and Middle East is expected to augment the demand for thermal paper in the forthcoming years. Furthermore, emergence of new supermarkets and hypermarkets and increasing use of thermal paper in cash registers, bill receipts, and ATM rolls are expected to increase the product demand.

Increasing importance of labeling in industries, such as pharmaceutical and food and beverage with an aim of providing detailed information of consumables without adulteration is driving the market. Additionally, increasing application of RFID tags in medical and healthcare industry is driving the demand for thermal paper.

POS terminals are widely used for transactions in industries like hospital, retail, warehouse, and entertainment due to improved durability of the paper as compared to others. Hence, growth of POS terminal industry is anticipated to drive the demand for thermal paper in near future. Introduction of advanced POS with reliability and durability is also fueling the market.

Increasing number of electronic commercial transactions from the internet is a threat to the thermal paper market. Ecommerce comprises online products and services, retail services, such as online ordered food, travel, mail deliveries and marketplace services like comparison shopping and e-wallet is contributing to the rise of ecommerce industry, thereby hampering the growth.

Technology Insights

Direct thermal technology was estimated at USD 1.73 billion in 2018 and is expected to expand at a CAGR of over 7% over the forecast period. Growing acceptance of technology as an ideal choice in printing industry is expected to contribute to the growth. Owing to features, such as good mobility, noise reduction, and full graphics capability of this technology, the segment is expected to emerge impressively in the forecast period.

Direct thermal technology is widely used on thermal paper by chemical treatment and heat-sensitive media that turns black after passing under printed head. Hence, easy design, high efficiency, and low operational cost is expected to improve the durability of direct thermal technology based paper, thereby driving the market.

Thermal transfer segment is anticipated to expand at a CAGR of 6.8% in terms of revenue over the forecast period owing to features, such as long term durability, good heat resistance, and high sensitivity for external contamination and abrasion. These features are expected to drive the market in near future.

Thermal transfer allows using multi-color images in paper that stimulate thermal paper manufacturers to use thermal transfer printing for tags, tickets, and manufacturing labels. Increasing use of thermal transfer printing materials in applications, such as certification labels for laboratory specimens, asset tagging, and cold storage materials is driving the segment.

Application Insights

POS terminals segment was valued at USD 2.58 billion in 2018 in terms of revenue. The segment is expected to witness significant growth in the forthcoming years due to growing retail industry in the economies like India and China. Emergence of new hypermarkets and supermarkets, such as Future Group, Wal-Mart, and Reliance is also affecting the market growth.

Increase in demand for POS terminals in retail transactions is driving the POS demand. Moreover, increasing awareness for material management in manufacturing, retail, and government sectors for optimal database maintenance for transactions is expected to promote the POS application, thereby fueling thermal paper demand in the coming years.

Tags and label segment is predicted to expand at a CAGR of 7.4% over the forecast period owing to increasing demand from healthcare, retail, pharmaceutical, and food and beverages industries. Moreover, increasing use in warehouse labels and bakery industry is also impacting the market growth.

Owing to high demand for food products, food & beverage manufacturers have increased the expenditure for adopting superior quality labels and tags in their product offerings, thereby contributing to the demand for tags and labels in future. These labels are used in the form of hallmarks and paper, which not only offers nutritional constituents’ details but also avoid duplication practices.

Global thermal paper market

Direct thermal technology is majorly used in the industry and is expected to expand substantially in future owing to increasing applications. Growing use of ribbons in transfer printing technique is expected significantly increase the manufacturing cost for the product manufacturers. Owing to this, manufacturers are expected to replace transfer with the direct technique.

Thermal transfer pointing materials have applications in certification labels for laboratory specimens, cold storage materials, and asset tagging due to ability of offering multi-colored images on paper. Furthermore, thermal transfer hold exceptional heat resistance for better performance.

Regional Insights

North America was estimated to be USD 1.07 billion in 2018 and is anticipated to expand at a CAGR of over 6% over the forecast period. The anticipated growth is attributable to the presence of large number of well-established manufacturers in the region. Nonetheless, introduction of ecommerce portals in the region is expected to affect the market growth.

North America is expected to display positive outlook in the near future, especially from the economies, such as Canada and U.S. Moreover, increase in demand for pharmaceutical and food and beverage coupled with government policies to promote investments at domestic level in Mexico is expected to drive the regional demand.

Europe accounted for a sizable share in the thermal paper market and is expected to witness steady growth over the forecast period owing to rising importance of environment-friendly coatings. Asia Pacific, on the other hand, is expected to expand at a CAGR of 9.8% in terms of revenue over the forecast period. The growth can be attributed to due to high demand for convenience foods along with expansion of supermarkets on the domestic level.

Thermal Paper Market Share Insights

The current market scenario is expected to offer lucrative opportunities for the major players. Sales and distribution location is another benefitting factor for the key players to improve their market positioning. Increasing number of warehouse and storage facilities is also positively affecting the growth.

The prominent market players are Ricoh Company, Ltd., Appvion Incorporated, Mitsubishi Paper Mills (MPM), Oji Holdings Corporation, PM Company, Nakagawa Paper Rolls, Koehler Paper, Hansol Paper, Jujo Limited, and Siam Paper.

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million, Volume in Kilo Tons & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, Mexico, Germany, U.K., France, Japan, China, India, Brazil, Saudi Arabia

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country level and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global thermal paper market report based on technology, application, and region:

  • Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • Direct Thermal

    • Thermal Transfer

    • Others

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • POS

    • Tags & Label

    • Lottery & Gaming

    • Others

  • Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • Japan

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

Key questions answered by the report
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