Global thermal paper market is expected to reach USD 4.77 billion by 2022, according to a new study by Grand View Research, Inc. Thermal paper is used in POS terminals that are employed in retail, hospital and entertainment industries, as they are compatible with various types of machines as well exhibit clear and durable print for a longer span of time as compared to ordinary conventional printed paper.
Lottery & gaming application is expected to witness significant gains in terms of volume, at a CAGR exceeding 4.5% from 2015 to 2022. Expansion of gaming industry in Macau and Singapore owing to increasing number of casinos will have a strong impact on market growth. In addition, development of these countries as holiday destinations is expected to augment the growth of the gaming industry, thus, bolstering market growth.
Further key findings from the study suggest:
- Thermal transfer technology market was USD 1.02 billion in 2014 and is expected to witness growth over the forecast period on account of its ability to provide multi-color images in paper. Moreover, thermal transfer printed materials possess good heat resistance, long term durability and high sensitivity towards abrasion and external contamination. Growing demand for asset tagging, certification labels for laboratory specimens and cold storage materials is expected to drive growth.
- Germany thermal paper market is expected to exceed 70.0 kilo tons by 2022, growing at a CAGR of 5.5% from 2015 to 2022. Presence of large number of automotive and chemical manufacturers such as Volkswagen, BMW, Daimler, BASF, Henkel and Bayer in Germany is expected to promote the use of tags & labels. In July 2013, the European Commission framed “Guideline on the packaging information of medicinal products for human use authorized by the union”. This regulation is anticipated to force healthcare companies to increase their expenditure for the use of good quality tags & labels in drugs and vaccines.
- Europe accounted for over 25% of global market volume share in 2014. Growing gaming industry in Italy on account of organized efforts by Italian Game Industry Association and Associazione Editori Sviluppatori Videogiochi Italiani (AESVI) for promoting new investments is expected to have a favorable impact on market.
- Key market players include Appvion, Oji Paper, Koehler, Ricoh Company, Jujo Thermal, Mitsubishi Paper Mills (MPM), Hansol and Nakagawa. In May 2014, the U.S. based Appvion launched its first BPA-free vitamin based thermal paper under the brand, Alpha Free, which has application in Point-of-Sale (POS) terminals.
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