Thermal Paper Market to reach a market size of $5.5 billion by 2025

According to a new report Thermal Paper Market, published by KBV Research, The Thermal Paper Market size is expected to reach $5.5 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period. The consumer’s tendency towards cashless payment, along with its mass adoption by various end-use industries, including food and beverage, pharmaceuticals, etc., has substantially driven the need for thermal paper over the last few years. Furthermore, the need for cashless payment transactions without any linkage between the consumer’s payment device and the point of sale terminal is perceived to propel demand for thermal paper during the forecast period. In addition, several government initiatives directed specifically towards enhancing the importance of the cashless economy are considered to strengthen the scope of the Point of Sales (POS) in the near future.

Direct thermal technology dominated the market in 2018 and during the forecast period, it is expected to strengthen at a significant growth rate. Rapidly increasing acceptance of technology is expected to contribute to growth as an ideal choice in the printing industry. The segment is predicted to emerge remarkably in the forecast period due to features like high mobility, noise reduction, and the full graphics capability of this technology. The Thermal Transfer market is expected to witness a CAGR of 8.8% during (2019-2025).

The segment of POS terminals recorded a dominant market share in 2018. Due to the growing retail industry in economies such as India and China, the segment is expected to see significant growth in the coming years. The Tags & Labels market is anticipated to witness a CAGR of 8.9% during (2019-2025). Additionally, The Gaming & Lottery market would witness highest CAGR of 10.1% during (2019-2025).

North America is expected to have a positive outlook in the coming years, particularly from nations such as Canada and the United States. In addition, increased demand for pharmaceuticals and food and beverages, combined with government policies to encourage domestic investment in Mexico, is likely to drive regional demand. Europe accounted for a significant share of the thermal paper market and is expected to see consistent growth over the forecast period due to the increasing importance of environmentally friendly coatings. The Asia Pacific market is expected to witness a CAGR of 9.3% during (2019-2025). Growth can be linked to the high demand for convenience food, along with the regional expansion of supermarkets.

Structural Insights:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ricoh Company Limited, Oji Holdings Corporation (Mitsui Group), Appvion, Inc., Mitsubishi Paper Mills Ltd., Gold Huasheng Paper Co., Ltd., Henan Province JiangHe Paper Co., Ltd., Thermal Solutions International, Inc., Nippon Paper Industries Co., Ltd. (Jujo Thermal Ltd.), Rotolificio Bergamasco S.r.l. and Koehler Paper SE.

Recent Strategies Deployed in Thermal Paper Market

» Acquisition and Mergers:

Oct-2019: Ricoh acquired DocuWare, a Germany based document management and workflow automation Solutions Company. This acquisition helps the company in opening new horizons and further strengthening its participation in projects on the ****** level.

Jun-2017: Oji took over 76% shares of Tele-Paper (M) Sdn. Bhd., a Malaysian Company that manufactures and sells carbonless and thermal papers. This acquisition would complement the business of Oji.

» Product Launches:

Jul-2017: Nippon introduced b7 LIGHT, a new product in the “b7” series. It is a wood free-based printing paper and offers superior shelf life. It delivers natural and rougher color tone and softer page turning experience.

» Expansions:

Nov-2019: Oji has decided to expand its operations of thermal paper production to Brazil by making investment at Oji Papéis Especiais Ltda. This company is engaged in producing carbonless and thermal papers; this would enhance its reach and revenues.

Jan-2019: Ricoh expanded its reach to Europe by making investment in its Ricoh Industrie France S.A.S. for doubling its coater production capacity that applies thermal coatings onto paper. This expansion would be focused towards the manufacturing and distributing thermal paper and thermal transfer ribbons.

Thermal Paper Market Segmentation

By Technology

Direct Thermal

Thermal Transfer


By Application


Tags & Labels

Gaming & Lottery


By Geography

North America




Rest of North America








Rest of Europe

Asia Pacific




South Korea



Rest of Asia Pacific





Saudi Arabia

South Africa


Rest of LAMEA

Companies Profiled

Ricoh Company Limited

Oji Holdings Corporation (Mitsui Group)

Appvion, Inc.

Mitsubishi Paper Mills Ltd.

Gold Huasheng Paper Co., Ltd.

Henan Province JiangHe Paper Co., Ltd.

Thermal Solutions International, Inc.

Nippon Paper Industries Co., Ltd. (Jujo Thermal Ltd.)

Rotolificio Bergamasco S.r.l.

Koehler Paper SE

Thermal Paper Market Related Reports:

North America Market

Europe Market

Asia Pacific Market

LAMEA Market


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