The global thermal paper market is expected to reach USD 5.52 billion by 2025, according to a new report conducted by Grand View Research, Inc. The growing importance of POS, a primary tool of monetary transaction, in retail outlets, supermarkets, and warehouses as a result of technological advancement by CISCO is expected to drive market growth.
The emergence of supply chain management in the manufacturing sector as a key planning parameter for monitoring operational flow from raw material suppliers to buyers is expected to increase spending on labeling. This factor in turn, will promote the usage of thermal paper over the forecast period.
Lottery & gaming is projected to foresee volume growth at a CAGR of 5.2% from 2016 to 2025. The rising number of casinos and lottery machines in destinations including Macau, Singapore, Vietnam, Malaysia, and Mauritius as a result of increasing tourism spending amid the availability of attractive packages through e-commerce portals is expected to increase the requirement of thermal paper in the near future.
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Further key findings from the study suggest:
- MEA is projected to foresee revenue growth at a CAGR of 7.8% from 2016 to 2025. Population growth and rising disposable income in Saudi Arabia and UAE is expected to play a significant role in increasing the number of new supermarkets and consumer goods retail outlets. As a result, the above-mentioned favorable factors are projected to increase the demand for POS which, in turn, will have a significant impact.
- Thermal transfer technology generated a revenue of USD 1.11 billion in 2015. Manufacturers use the technology for manufacturing labels, tags, and tickets to provide multi-color images in the paper.
- Europe accounted for 28% of the global volume in 2015. The emergence of Europe as manufacturing hub for the production of dietary supplements and nutritional products in light of rising expenditure by prebiotics manufacturers such as Beneo (Belgium) and FrieslandCampina Domo (Netherlands) is expected to promote the use of labels and tags.
- Major manufacturers include Appvion, Oji Holdings Corporation, Ricoh Company, Ltd., Koehler Paper, PM Company, Siam Paper, Jujo, Mitsubishi Paper Mills (MPM) Limited, and Nakagawa.
- In April 2015, Jujo Thermal announced an investment of USD 7.7 million for enhancing the productivity and incorporating technology at its Kauttua Mill, Finland.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.