Thermal Papers Market Exhibits Higher Growth Prospects during 2018-2027
According to the report, the thermal papers market is projected to grow at 2.7% CAGR through 2027.
[ClickPress, Thu May 16 2019] Thermal papers have been highly embraced for the application of labeling and packaging wherein multiple end-use industries such as food, logistics and production management. These end-users show significant demand for thermal papers and other thermal products such as thermal transfer ribbons.
Well aware of the demand trends, manufacturers in the thermal papers market are introducing tailored solution specific to different applications. For instance, the thermal labels used in the food industry are manufactured with different features such as heat resistance, metal detection and durability.
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Increasing Preference for Digital Transactions Weakens Thermal Paper Sales
Digital payment platforms are highly embraced across businesses as well as customers. Rising penetration of e-commerce has further encouraged the growth of digital payments. Further, digital payments are gaining popularity as a safer, convenient and smarter way of transactions.
As digital transactions are entirely taken care digitally and do not involve an exchange of billing receipt – majorly printed on thermal papers, rapid adoption of digital payment methods are likely to impact the application of thermal papers.
Point-of-Sale Commerce Remains a Prominent User of Thermal Papers
The expansion of the retail industry in the form of an increasing network of supermarket and hypermarkets as well as the growth of the hospitality industry are major factors driving the point-of-sale commerce. While grocery and retail are significant end-users, the point-of-sale also finds application in transportation payments such as parking and taxi industry.
Although e-commerce is penetrating the retail industry, point-of-sale commerce continues to remain a prime means of billing information transfer across industries. And these industries show significant reliance on thermal papers for their point-of-sale billing. As long as the point-of-sale commerce continue to remain a preferred mode of billing transactions, demand for thermal papers will remain consistent in the coming years.
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Key Players Hold a Significant Revenue Share in Thermal Papers Market
Prominent players are actively engaged in improving their product portfolio by introducing innovative and durable products. With their strong global presence and an effective distribution network, these players hold a significant share in thermal papers market.
Other players in the thermal papers market are regional operators, predominantly Chinese companies. These players fill the demand gaps of domestic supply chain wherein they fulfil the requirement of low cost and temporary solutions of local industries.
Thermal Papers Market – Notable Highlights
- In September 2018, Appvion introduced a new line of direct thermal label and tag facestocks at Labelexpo Americas 2018. The company has partnered with Colordyne Technologies and AzCoat to launch the new product line which features Appvion’s Triumph WB-3.2 labelstock laminated by AzCoat and printed on Colordyne’s 3600 Series-AQ Retrofit digital press.
- Mitsubishi Paper Mills also showcased its specialty coated paper range which included THERMOSCRIPT thermal papers at Labelexpo America 2018. The range covered phenol-free, linerless thermal papers for multiple applications including labels, tickets, receipts or lottery tickets.
- In February 2018, Oji Holdings Corporation and Mitsubishi Paper Mills entered in a capital alliance agreement wherein Oji Holdings bought 33% stake in Mitsubishi Paper Mills. The agreement will lead to benefits wherein each company is expected to save approximately 19 million Euros in 2021.
- In May 2018, the European Chemicals Agency (ECHA) announced in a press release that EU paper manufacturers have significantly replaced bisphenol A (BPA) with alternative bisphenol S (BPS). However, ECHA’s Risk Assessment Committee indicated that BPS is supposed to have the same adverse health effects as BPA. While EU Commission’s ban on BPA will take effect in 2020, ECHA has been asked to closely investigate the use of BPS until the industry finds a safe alternative.
- In second quarter of 2017, the Dow Chemical Company and Koehler launched thermal printing paper without bisphenols and were jointly awarded a U.S. EPA Green Chemistry Challenge Award.
The thermal papers market report also features other key players operating in the global space. The profiled players include Koehler Paper Group, Nakagawa Manufacturing (USA), Inc., Siam Paper Public Company Limited, Jujo Thermal Ltd., Ricoh Company, Ltd., and Shandong Chenming Paper Holdings Ltd.
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