Thermal printing paper market may hit $5.6 billion by 2028

Used in printing receipts at POS terminals and tags

The increasing use of retail outlets and supermarkets in developing economies such as China, Brazil, and India is expected to augment the growth of the market during the forecast period.

The global thermal printing paper market size was valued at US$ 4.24 billion in 2021 and is forecast to be a readjusted size of US$ 5.6 billion by 2028 with a CAGR 5.8% during the review period. The influence of Covid-19 and the Russia-Ukraine War were considered while estimating market sizes.

Thermal paper is a recording media to be printed with heat from the thermal printer. The image is produced by heat, without printing ink, when the selected area of the thermal paper passes over the thermal print head.

A report titled Thermal Printing Paper Market Insights of 2023, offers a thorough analysis of the market’s size, shares, revenues, major segments, drivers, trends, growth, and development. The paper identifies regional industrial presence and market-limiting variables that could have an impact on growth trends after the projected period of 2031. The market research seeks to fully comprehend the industry’s potential and to offer information that will assist firms in making wise decisions.

Thermal papers are majorly used in printing receipts at POS terminals and in the production of tags used by industries such as pharmaceuticals and food and beverages to package and label their end-use products. Thermal papers are preferred over other modes of printing due to the lower cost of production, and maintenance of the printing set-up due to the lack of use of ribbons and ink in the printing process.

Thermal labels are also widely used for various labeling applications, including barcode labels, shipping labels, and product labels. The heat-sensitive coating allows for high-resolution printing of barcodes and other information.

The increasing use of retail outlets and supermarkets in developing economies such as China, Brazil, and India is expected to augment the growth of the market during the forecast period. The rising demand for specialty paper in packaging by e-commerce and logistics market players is also expected to help in the market growth. However, rising digitalization and increasing substitute products are expected to restrict market growth.

Thermal paper has a limited lifespan, and the image or text on it can fade over time, especially when exposed to heat, light, or chemicals. This can be a concern for businesses that require long-term document retention. Therefore, businesses should consider their specific printing needs and archival requirements when choosing between thermal and non-thermal printing methods.

Indian Printer and Publisher reported that majority (72%) of American consumers prefer paper receipts over digital receipts when it comes to their purchases, according to a US survey conducted by Tulchin Research, a public opinion research firm, reports Koehler Paper (part of Koehler Group). Paper receipts provided many survey respondents with greater confidence concerning their information security, which is just one reason why they do not want paper receipts to disappear. Most (85%) of the Americans interviewed also added that they want to at least have a choice between paper and digital receipts.

Meanwhile, eight out of 10 American consumers said they wanted to decide themselves which type of receipt they wanted for their purchases and were not interested in having the decision made for them. “These results are surprising since they go against the general trend towards digitalization,” says Koehler America general manager Steve Graves. He further adds, “This development shows that paper receipts are experiencing a renaissance, and I’m pretty sure that these survey results would be nearly identical if we were to survey Europeans instead.”

Koehler Paper believes that getting things on paper is a common practice, as it serves as a purpose of documentation in the event of complaints. Sebastian Früh, Director Thermal Paper Division at Koehler Paper says “On top of all this, Koehler Paper also offers thermal paper made without color developers, which makes it recyclable and better for the environment.”

In 2024, we are looking at full recovery and growth-led investment in Indian printing

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.

India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.

India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.

– Naresh Khanna

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