Thermal Paper Market May Set a New Epic Growth Story: Oji Holdings, Appvion Operations, Koehler Paper
Published Via 11Press: According to HTFMI, the global Thermal Paper Market is expected to register a CAGR of 10.41% during the forecast period to 2028
What is Thermal Paper: A layer of paper known as thermal paper has a heat-sensitive coating on it. When heat is used to create images or text, it is frequently used in a variety of applications. Thermal paper is intended to react to heat by altering its color, usually turning black when heated. An image or piece of text is created when chemicals in the paper’s heat-sensitive coating react chemically when it is heated. Thermal paper is in high demand for point-of-sale (POS) receipts, tags, and labels due to the expansion of the retail sector, which includes grocery stores, convenience stores, and e-commerce. The development of thermal papers without dangerous substances like phenols and bisphenol A (BPA) is a focus for manufacturers. The market for thermal paper is constrained by the rising use of digital technologies and the move toward paperless operations in most industries. The need for tangible printed items, particularly thermal paper, could decrease as companies and customers switch to electronic receipts, online transactions, and digital recordkeeping.
| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Oji Holdings Corporation (Japan) Appvion Operations, Inc. (United States) Koehler Paper Group (Germany) Hansol Paper Co., Ltd. (South Korea) Mitsubishi Paper Mills Ltd. (Japan) Nakagawa Manufacturing (USA), Inc. (United States) Jujo Thermal Ltd. (Finland) Ricoh Company, Ltd. (Japan) Gold Huasheng Paper Co., Ltd. (China) Siam Paper Public Company Limited (Thailand) |
| CAGR | 5.4% |
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Key Developments in the Market:
On December 1, 2022, Koehler Group and Munich’s non-profit UnternehmerTUM GmbH, which supports 50 high-growth tech start-ups annually, struck into a collaboration to fund innovations from the paper and renewable energy sectors. Koehler will participate in the FamilienunternehmerTUM project as a family-run firm. The Koehler Group has a long history of collaborating closely with startups. Koehler Invest GmbH, which just brought these endeavors together.
Since November 1st, Philipp Prechtl has served as Koehler’s managing director for creating venture and startup partnerships. Food item labels and receipts are frequently printed on thermal paper. Many jurisdictions have laws that expressly govern the usage of thermal paper in applications involving food. These rules normally set restrictions for the amount of chemicals that can migrate from thermal paper to food, ensuring that the printed products don’t endanger the health of the customer. Multiple significant players competing on a global scale define the competitive landscape of the thermal paper market. Food item labels and receipts are frequently printed on thermal paper. Many jurisdictions have laws that expressly govern the usage of thermal paper in applications involving food. These rules normally set restrictions for the number of chemicals that can migrate from thermal paper to food, ensuring that the printed products don’t endanger the health of the customer. Multiple significant players competing on a global scale define the competitive landscape of the thermal paper market.
Influencing Trend:
- One of the main trends for the thermal paper market is the rising need for environmentally friendly solutions, which is followed by the incorporation of RFID technology. Environmentally friendly substitutes for conventional thermal paper are increasingly in demand as environmental awareness grows.
- Thermal sheets without potentially dangerous substances like phenols and bisphenol A (BPA) are a focus of manufacturers. In addition, efforts are being made to create thermal paper that is recyclable and biodegradable. Enhanced tracking and identification capabilities are made possible by the incorporation of Radio Frequency Identification (RFID) technology with thermal paper.
- The supply chain visibility, inventory management, and anti-counterfeiting controls are all improved as a result of this integration. The print quality and tensile strength of thermal paper are always being worked on. Thermal printing technology advancements have produced prints that are sharper and more detailed as well as more resistant to fading, smearing, and abrasion.
Market Growth Drivers:
- Increased E-commerce and a Growing Retail Sector The thermal paper market has several major growth factors, including activities. The need for thermal paper for point-of-sale (POS) receipts, labels, and tags is rising along with the retail sector, which includes grocery stores, convenience stores, and e-commerce.
- The need for thermal paper for return labels, packing slips, order invoices, and shipping labels has increased as a result of the growth of online shopping. For printing client receipts and order tickets, the food service industry—which includes eateries, cafes, and fast-food chains—needs thermal paper.
- A popular option for many applications, the thermal paper has benefits like speedy printing, no need for ink or ribbons, and smudge-resistant prints. Thermal paper is increasingly being used in a variety of industries thanks to ongoing improvements in thermal printing technology, including faster printing, better image quality, and increased durability.
Challenges:
- Among the issues the market for thermal paper is facing are the volatility of raw material prices and competition from digital solutions. Thermal coating chemicals and paper substrate prices and availability have an impact on the thermal paper market.
- Price fluctuations for these inputs can have an effect on the profitability of thermal paper producers as well as the total cost of production. A competitive problem for the thermal paper market is the existence of digital substitutes like electronic receipts, mobile payments, and digital documentation.
- Digital solutions can lessen the demand for conventional thermal paper-based products by being more convenient, more affordable, and less environmentally damaging.
Restraints:
- Some of the key inhibitors for the thermal paper industry are the shift toward digitalization and environmental concerns. The usage of conventional thermal paper, which includes chemicals like Bisphenol A (BPA), has sparked environmental concerns.
- The environmental effects of BPA are well-known, and it may pose health problems as well. The market for thermal paper is being challenged by BPA regulatory limits as well as rising consumer demand for eco-friendly substitutes. The market for thermal paper is constrained by the rising use of digital technologies and the move toward paperless operations in most industries.
- The need for tangible printed items, particularly thermal paper, could decrease as companies and customers switch to electronic receipts, online transactions, and digital recordkeeping. The price and accessibility of raw materials, such as paper substrates and chemicals for thermal coating, has an impact on the market for thermal paper. The overall production costs and profitability of manufacturers of thermal paper can be impacted by fluctuations in raw material prices, especially for speciality chemicals.
Opportunities:
- The thermal paper market has prospects due to rising demand from emerging economies and innovative eco-friendly solutions. In emerging markets, there are prospects for the thermal paper market due to the brisk economic expansion and rising consumer expenditure.
- The market for thermal paper is anticipated to increase as the retail, food service, and logistics industries develop in these areas for uses including receipts, labels, and tickets. An opportunity for the development of ecologically suitable thermal paper substitutes is provided by the rising demand for sustainable and eco-friendly products.
- To generate thermal sheets that are free from hazardous chemicals, recyclable, biodegradable, or derived from renewable resources, manufacturers might spend money on research and development.
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Frequently Asked Question
Q1: What is the current market size for the Thermal paper Market?
A: According to HTF MI, the Thermal Paper Market is expected to register a CAGR of 5.4% during the forecast period to 2028
Q2: What are the key segments of the Thermal paper Market?
A: The Thermal paper Market can be segmented based on Offering by Application (Transportation and Logistics, Healthcare, Entertainment, Banking and Financial Services, Others) by Type (Top-Coated Thermal Paper, Bottom-Coated Thermal Paper) by Technology (Direct Thermal, Thermal Transfer) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Q3: Who are the key players in the Thermal paper Market?
A: Some of the key players in the Thermal paper Market include Oji Holdings Corporation (Japan), Appvion Operations, Inc. (United States), Koehler Paper Group (Germany), Hansol Paper Co., Ltd. (South Korea), Mitsubishi Paper Mills Ltd. (Japan), Nakagawa Manufacturing (USA), Inc. (United States), Jujo Thermal Ltd. (Finland), Ricoh Company, Ltd. (Japan), Gold Huasheng Paper Co., Ltd. (China), Siam Paper Public Company Limited (Thailand)
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