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Thermal Paper Market Report: CAGR is Projected to 1.9%

Author: WMResearch | Publish date: 2023-12-04

                “Global Thermal Paper Market Report 2023-2029

Published: 2023-12-04  Page Views: 338   Industry: Chemical & Material-Thermal Paper

What is thermal paper?
Thermal paper is a type of paper that is coated with a special material that allows it to produce an image without the use of ink or ribbons. When heat is applied to the coating, it turns black and transfers the image onto the paper. This technology is commonly used in fax machines, ATMs, and point-of-sale systems. Thermal paper is also used for lottery tickets, train tickets, and other applications where quick and easy printing is necessary. It is considered an economical printing technology due to its low energy consumption and maintenance costs.

The report highlights the growing demand for thermal paper in various industries such as banking, retail, healthcare, and transportation. The increasing adoption of contactless payment systems and the COVID-19 pandemic have also contributed to the growth of the thermal paper market.

In terms of regional analysis, Asia Pacific is expected to dominate the market with a share of over 40% by 2029. This can be attributed to the region's high population density and the growing use of point-of-sale (POS) systems in retail and hospitality sectors.

North America is also expected to witness significant growth in the thermal paper market due to the increasing adoption of electronic transactions and the growing demand for secure transaction processing.

Europe is projected to hold a moderate share in the global thermal paper market during the forecast period. However, the region is expected to experience steady growth due to the increasing adoption of smart cards and other secure payment methods.

The report also highlights some of the key players operating in the global thermal paper market, including Toshiba TEC, GEP, Niscayah, Hammermill Paper Company, and Mettler-Toledo. These companies are expected to continue their dominance in the market through innovation and strategic partnerships.

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