Theglobal thermalpaper market size is projected to reach USD 5.85 billion by the end of 2027. Increasingapplications of the product across diverse industry verticals will aid thegrowth of the overall market in the coming years. According to a reportpublished by Fortune Business Insights, titled “Thermal Paper Market Size, Share & IndustryAnalysis, By Width (2.25”, 3.125”, and Others), By Printing Technology (DirectThermal, Thermal Transfer, and Others), By Application (Point-of-Sale, Tags& Labels, Ticketing, Lottery & Gaming, Medical, and Others), andRegional Forecast, 2020-2027,” the market was worth USD 3.45 billion in 2019 andwill exhibit a CAGRof 6.9% during the forecast period, 2020-2027.
COVID-19 ImpactAnalysis:
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Thermal paper is a specialty paper that is usually coated with a material thathelps the paper transform its color when subjected to heat. The increasingapplications of thermal paper are attributable to the favourable properties ofthe product. It is widely used in applications that require quick and shortprint slips including ATMs and other places that print out receipts. Thegrowing product applications, coupled with the massive investment in thedevelopment of efficient products, will ultimately emerge in favor of thegrowth of the market in the coming years. The product is inclusive of easilyderivable compounds as well as material available in abundance. The increasinginvestment in the research and development of efficient thermal paper willcontribute to the growth of the overall market in the coming years. Thepresence of several large scale companies will emerge in favor of marketgrowth.
Company Mergers Are Proving Beneficial for Existing Businesses
Thereport encompasses several factors that have contributed to the growth of theoverall m arket in recent years. Due to healthy market competition, several companiesare looking to adopt strategies that will help them establish a strong positionin the global market. It is observed that company mergers and collaborationsare a growing trend among major businesses across the world.
InFebruary 2020, Koehler Paper Group announced that it has completed theacquisition of Beaver Paper and Graphic Media Inc. The company is amanufacturer of sublimation media; a product that is used widely in the digitalprinting industry. Through this acquisition, the company will look to combinethe portfolio of both the companies and improve the overall sales anddistribution of sublimation media across the world. Koehler’s acquisition ofBeaver will help the company establish a formidable position in the globalmarket. Additionally, this acquisition will have a huge impact on the growth ofthe overall market in the coming years.
Market in Europe Heldthe Highest Share; Increasing Number of POS Terminals Will Emerge in Favor ofMarket Growth
Thereport analyzes the ongoing market trends across North America, Europe, AsiaPacific, Latin America, and the Middle East & Africa. Among these regions,the market in Europe currently holds the largest market share. The increasingnumber of POS terminals will emerge in favor of market growth. The increasingnumber of ATM transactions will also lead to a wider product adoption innumerous countries across this region. As of 2019, the market in Europe wasworth USD 1.57 billion and this value is projected to increase further in thecoming years
Industry Developments:
March 2019: Ricoh Industries France announcedthat it will be expanding its production of thermal paper line. The companywill be building a new coating machine to double its production capacity.
Browse Summary of This Research Report with Detailed Table ofContent:
https://www.fortunebusinessinsights.com/thermal-paper-market-102811
