The global thermal paper market size was US$ 3.1 billion in 2021. The global thermal paper market is forecast to grow to US$ 5.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.

The thermal paper has wide applications across various sectors, including healthcare, banking, entertainment, and retail. Thermal papers possess high compatibility and are used with printing machines to offer clear print for a long period.

Factors Influencing the Market

The growing demand for effective printers across various segments, such as healthcare, retail, banking, and entertainment, will drive the growth of the global thermal paper industry during the forecast period.

The rising number of technological advancements and trending digital payment options are forecast to benefit the thermal paper industry.

Using mobile phones or web-based applications requires a rapid billing system. The point of sale terminal machine keeps up-to-date information. As a result, the market for thermal paper is likely to increase with the rise of digital payment alternatives.

The favorable government mandates related to offering essential information such as expiry date, price, and related information are likely to fuel the growth of the global thermal paper market. In addition, growing consumers' understanding and the rising trend of creative labeling of food and drinks will surge the growth of the thermal paper market.

COVID-19 Impact Analysis

The COVID-19 pandemic has increased the demand for thermal papers. The market witnessed ample growth opportunities in the pharmaceuticals and food and beverage segment due to the pandemic. In addition, the demand for sanitizers and immunological medications also rose rapidly. As a result, it surged the growth of the global thermal papers market. Pharmaceutical businesses have spent a substantial amount of money on thermal paper as it is mandatory to inform consumers about the expiration dates, ingredients, and other details. Similarly, the applications of thermal papers in the e-commerce industry to print bills, labels, and tags have been beneficial for the thermal papers industry.

Regional Analysis

The Asia-Pacific market for thermal papers is forecast to grow at a significant rate due to the increasing demand for pharmaceuticals and packed food items in the region. In addition, the e-commerce industry is rapidly growing in this region. Thus, the demand for thermal papers for bills, tags, and labels would increase in the region during the forecast period.

Competitors in the Market

Appvion Incorporated
Guangdong Guanhao High-Tech Co., Ltd.
Hansol Paper Co Ltd
Henan Province JiangHe Paper Co., Ltd.
Jiangsu Wampolet Paper Co., Ltd.
Jujo Thermal Ltd.
Koehler Paper Group
Mitsubishi Paper Mills Limited
Nakagawa Manufacturing (USA), Inc.
Oji Holdings Corporation
PM Company L.L.C.
Ricoh Company, Ltd.
Shandong Chenming Paper Holdings Ltd
Siam Paper Public Company Limited.
Other Prominent Players
Market Segmentation

The global thermal papers market segmentation focuses on Technology, Application, and Region.

Based on Technology

Direct thermal
Thermal transfer
Others
Based on Application

Tags & Label
Lottery & Gaming
Point of Sales & Fax
BFSI
Travel
Others
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America