On the basis of region, North America accounted for the largest market share of 37.27% in 2016, with a market value of USD 1,197.4 Million. The region has witnessed increased demand of thermal paper, from POS application, mainly due to the high internet penetration in countries such as U.S. and Canada. The POS applications demand thermal paper for receipts, acknowledgements, and bills. The U.S. is the major market in North America. The country houses one of the biggest international retail chains such as Walmart and Amazon. This makes it an important market for thermal paper. Europe was the second-largest market in 2016, valued at USD 883.8 Million in 2016. The region accounts for increasing sales of retail industry, from both brick and mortar and online stores. The retail industry is seen pacing significantly, especially in the countries of Netherlands, U.K., and Germany. Hence, Europe is projected to grow at a CAGR of 4.38%.
Asia Pacific region is expected to grow at the highest CA
