Los Angeles, February 14, 2020 - Thermal papers are reliable, high in definition, and fast in process, giving them a chance to be used in a wide range of applications. To understand the applications and subsequent higher demand, QY Research recently published a report titled, “Global Thermal Paper Market Research Report 2020”. The global thermal paper market is valued at US$2805 mn in 2020 is expected to reach US$3340.8 mn by the end of 2026, rising at a CAGR of 2.5% during 2021-2026.
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Global Demand from Packaging, Printing, and Logistics Industries to Drive Market
The rising demand for printing paper with high functionality has increased its demand in packaging, printing, and logistics industries. Printing on thermal papers is clear, durable, legible, super-efficient, accurate, high volume, and appealing. These papers have extended lifecycle than traditional print paper. Hence, these papers are ideal to be used in transactional documents, which could include graphics and logos for service records, product order forms, contract and financial documents, accident reports, and customer order history. Additionally, they can also be used under unfavourable environmental and rough handling situations.
Furthermore, the demand for phenol-free paper is gaining popularity as users can avoid chemicals like BPA and BPS on their paper. Also, it offers more than a 10-year image life, image stability, longer lasting image, time and money saving, and low impact on environment.
POS Application Segment to Fuel Demand for Thermal Paper
The thermal paper market will observe robust growth due to the augmenting demand from POS applications attributing to its reliability and durability. Due to their various benefits they are being widely used for transactions in industries including warehouse, retail, hospital, and entertainment. This is anticipated to fuel demand for thermal paper in forecast years.
North America to Observe Significant Growth in Future
The increasing demand from warehouses, hospitals, and food and beverage industry along with stringent regulations around environment are significantly affecting the thermal paper market in North America. Additionally, presence of large major manufacturers will further positively affect the market.
South and Central America to Observe Increase in Production
Oji Holdings Corporation has recently announced that the will expand the thermal paper production at Oji Papéis Especiais Ltd, Brazil. The objectives of the expansion is to increase production capacity in South America to consolidated operating profit of JPY 150 billion in the Medium-term Management Plan and plans. The advantages in quality and cost competitiveness company will help company maintain and increase its share in the thermal paper market in South and Central America.
The major players operating in the market include Jiangsu Wampolet Paper, Koehler, Jujo Thermal Paper, Appvion, Mitsubishi Paper, ChenMing, Jianghe, Guanhao, Oji, Ricoh, Hansol, etc.
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