SAN FRANCISCO, Feb. 10, 2021 /PRNewswire/ -- The global thermal paper market size is expected to reach USD 6.03 billion by 2028 registering a CAGR of 5.2%, according to a new report by Grand View Research Inc. The growing product usage in tags & labels in the food & beverages and pharmaceutical industries is expected to drive the market growth over the forecast period. The rapid growth of the retailing industry in India, China, Indonesia, Brazil, UAE, and Saudi Arabia is boosting the use of retail transactions through PoS terminals. In addition, strict labeling norms in the food & beverages and pharmaceutical industries are further expected to boost the product demand.
Key suggestions from the report:
- In China, the tags & label segment is expected to grow at a CAGR 6.9% over the forecast period on account of growing product adoption in tags & labels in the food & beverages and retailing industries of the country
- In 2020, the revenue for the PoS application segment in the North America region stood at USD 709.6 million owing to the wide use of PoS machines at supermarkets, cafeterias, gas stations, and retail stores
- In Germany, the market is anticipated to reach USD 264.7 million by 2028 on account of increasing product usage in tags & labels for inventory management purposes in the regional manufacturing industry
- The PoS application segment in India is expected to register a CAGR of 11.4% over the forecast owing to the continued efforts by the Government of India to promote various types of cashless transaction modes
- With the growing restrictions of Bisphenol A-based products, manufacturers are progressively launching phenol-free thermal paper products in key markets
Read 92 page research report with ToC on "Thermal Paper Market Size, Share & Trends Analysis Report By Application (PoS, Tags & Labels, Lottery & Gaming), By Region (Asia Pacific, North America, MEA), And Segment Forecasts, 2021 - 2028" at:https://www.grandviewresearch.com/industry-analysis/thermal-paper-market
The growing popularity of the gaming and casino industry across the world is also expected to provide a significant boost to the global market. Las Vegas, Singapore, and Macao are some of the most popular destinations that have gained prominence due to their gaming and casino industry. Increasing footfall at these places is expected to prove beneficial to the market growth. Companies in the Asia Pacific, particularly in Japan, have established their production units as well as strategic business channels in Europe and the U.S to cater to the buyers at the domestic level. Some of the manufacturers have formed partnerships with local roll converters for ensuring product supply to their consumers.
Grand View Research has segmented the global thermal paper market on the basis of application and region:
- Thermal Paper Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Point-of-Sale (PoS)
- Lottery & Gaming
- Tags & Labels
- Others
- Thermal Paper Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
List of Key Players of Thermal Paper Market
- Ricoh Company, Ltd.
- Oji Holdings Corporation
- MPM Ltd.
- Appvion Incorporated
- Jujo Thermal Ltd.
- Lecta Group
Find more research reports onAdvanced Interior Materials industry, by Grand View Research:
- Thermal Interface Materials Market - The global thermal interface materials market size was valued at USD 1.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.0% from 2020 to 2027.
- Thermal Ceramic Market - The global thermal ceramic market size was valued at USD 3.8 billion in 2019 and is anticipated to expand at a CAGR of 7.1% from 2020 to 2027.
- Paper Products Market - The global paper products market size was estimated at USD 268.8 billion in 2018 and is expected to register a CAGR of 0.3% from 2019 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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