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According to a new report Global Thermal Paper Market, published by KBV Research, The Global Thermal Paper Market size is expected to reach $5.5 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period. The consumer's tendency towards cashless payment, along with its mass adoption by various end-use industries, including food and beverage, pharmaceuticals, etc., has substantially driven the need for thermal paper over the last few years. Furthermore, the need for cashless payment transactions without any linkage between the consumer's payment device and the point of sale terminal is perceived to propel demand for thermal paper during the forecast period. In addition, several government initiatives directed specifically towards enhancing the importance of the cashless economy are considered to strengthen the scope of the Point of Sales (POS) in the near future.
Direct thermal technology dominated the market in 2018 and during the forecast period, it is expected to strengthen at a significant growth rate. Rapidly increasing acceptance of technology is expected to contribute to growth as an ideal choice in the printing industry. The segment is predicted to emerge remarkably in the forecast period due to features like high mobility, noise reduction, and the full graphics capability of this technology. The Thermal Transfer market is expected to witness a CAGR of 8.8% during (2019 - 2025).
The segment of POS terminals recorded a dominant market share in 2018. Due to the growing retail industry in economies such as India and China, the segment is expected to see significant growth in the coming years. The Tags & Labels market is anticipated to witness a CAGR of 8.9% during (2019 - 2025). Additionally, The Gaming & Lottery market would witness highest CAGR of 10.1% during (2019 - 2025).
North America is expected to have a positive outlook in the coming years, particularly from nations such as Canada and the United States. In addition, increased demand for pharmaceuticals and food and beverages, combined with government policies to encourage domestic investment in Mexico, is likely to drive regional demand. Europe accounted for a significant share of the thermal paper market and is expected to see consistent growth over the forecast period due to the increasing importance of environmentally friendly coatings. The Asia Pacific market is expected to witness a CAGR of 9.3% during (2019 - 2025). Growth can be linked to the high demand for convenience food, along with the regional expansion of supermarkets.
Structural Insights: https://www.kbvresearch.com/thermal-paper-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ricoh Company Limited, Oji Holdings Corporation (Mitsui Group), Appvion, Inc., Mitsubishi Paper Mills Ltd., Gold Huasheng Paper Co., Ltd., Henan Province JiangHe Paper Co., Ltd., Thermal Solutions International, Inc., Nippon Paper Industries Co., Ltd. (Jujo Thermal Ltd.), Rotolificio Bergamasco S.r.l. and Koehler Paper SE.
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