Billing paper market may reach US$ 1,536.5 million by 2033

Rising use of POS terminals propelling growth in India

Billing paper
The rising use of POS terminals is propelling the growth of the billing paper market. Nathana Rebouças/Unsplash

The global billing paper market is expected to experience strong demand, with a total valuation of US$ 897.1 million in 2023 rising to US$ 1,536.5 million by 2033, says Future Market Insights (FMI). FMI also forecasts billing paper sales to increase at a steady 5.9% CAGR between 2023 and 2033. It says India accounts for 5% of the global paper output and the US holds a 15.3% market share in the billing paper market.

A key factor propelling the market growth is the rising adoption of POS terminals and credit card terminals, particularly in the retail industry. Additionally, during the anticipated period, the adoption of billing paper rises with the expanding demand for thermal paper in the banking sector.

Country-wise Insights

How demand for sustainable billing paper propels growth in US

According to the study, the United States accounted for a 15.3% market share, with a value of US$ 132.8 million in 2022.

According to the American Forest and Paper Association, paper products are sustainable and essential for a circular economy made from renewable resources and recycled paper products, which can be reused and recycled multiple times by reducing the dumping of landfills.

As billing invoice paper has made billing more convenient and more manageable, the adoption of billing paper is likely to see high growth by 2033. For instance, manufacturers of billing papers, such as Pixelle Specialty Solutions, have developed carbonless papers (billing paper) made from NatureSolv technology. It ensures naturally based, organic solvent to create capsules.

What is supporting billing paper sales across Germany?

According to FMI, the demand for renewable raw materials and low-carbon bio-economy products is expected to propel the growth in the billing paper market. Germany accounted for a 5.7% market share, with a value of US$ 49.8 million in 2022.

According to the Confederation of European Paper Industry (Cepi), the European paper industry wants to lead the decarbonizing process and invest significantly in the route towards a low-carbon European bio-economy.

Hence, Europe’s billing paper sector is highly sustainable and competitive due to the transformation in the sector by using new technologies, new bio-values, and business opportunities.

For instance, Germany’s amusement park, Europa-park, has started using the innovative Blue4est receipt paper of Koehler paper (from Koehler Paper Group), which is sustainable, durable, and recyclable by taking into consideration the customer’s interest in increased sustainable importance.

Rising demand for user-friendly, cost-effective billing papers, coupled with growing environmental concerns, bolsters the growth in the market.

Expansion of FMCG and eCommerce increase billing paper sales in India

The billing paper market in India is expected to account for a significant 50% value share during the forecast period. According to the Indian Paper Manufacturers Association (IPMA), the paper industry is taking new strides in India due to cutting-edge technology, the Make in India initiative, manufacturing excellence, and sustainability.

India is among the leading paper markets across the globe. It exhibits an exciting scenario using a variety of raw materials, such as wood, bamboo, bagasse, wheat straw, and rice husk, in paper production.

India’s rapid growth in fast-moving consumer goods (FMCG), ready-to-eat food, pharmacy, healthcare, educational, and organized retail sectors are expected to have a remarkable impact on the billing paper market.

The billing paper consumption is poised for a big leap forward, as the Indian paper industry supports about 5% of the world’s paper production.

Companies are focusing on keeping track of sale transactions with high-quality invoice paper, which maintains reliable records in an organized manner. Also, the rising trend of shopping in supermarkets, eCommerce, and ready-made takeaway food is likely to augment the growth of the billing paper market.

Competitive Landscape

  • On 5 April, 2021, Pixelle Speciality Solutions Company announced two strategic investments to expand its product portfolio. The company acquired the security papers and carbonless rolls business from Appvion Operations Inc.
  • On 31 March, 2021, Pixelle Speciality Solutions, the company acquired the roll source specialty paper business from Veritiv Corporation.
  • On 10 September, 2021, Koehler Paper Group entered into a partnership with Clarus films GMBH in the small roll business. The strategic partnership enabled Koehler Paper to explore and tap an additional market developed with a new partner.

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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