Thermal Paper Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2023
“The factors that propel the growth of the Thermal Paper Market include increasing awareness about the benefits of POS terminals, technological progression such as mobile wallets, online banking demand, and developments in thermal transfer technology”
Global thermal paper market is anticipated to witness an exponential growth in the forecast period. Thermal paper changes color upon introduction to heat & light due to the presence of a coating pigment. Furthermore, these papers are highly sensitive toward exterior adulteration. Thermal papers offer a clear print for a prolonged period as compared to traditional print paper. The factors that propel the growth of the market include increasing awareness about the benefits of POS terminals, technological progression such as mobile wallets, online banking demand, and developments in thermal transfer technology. On the other hand, there are factors that may hamper the growth of the market including fluctuating prices and supply of raw materials and lack of skilled and trained workers. Thermal paper market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market could be explored by technology, application, and geography. Market could be explored by technology as Thermal Transfer and Direct Thermal. The “Direct Thermal” segment led the thermal paper market in 2017 and will continue to lead in the forecast period. In thermal paper no ribbon is used in printing. It produces the image directly on the printed material. Direct thermal printing uses chemically treated, heat sensitive media that goes black when it permits under the thermal print head.