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.
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.
Related Press Release @ Thermal Paper
Market Report
Thermal
Paper Market Report Highlights
- 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
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