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Thermal Paper Market Size, Share & Industry Analysis, By Width (2.25â€, 3.125â€, and Others), By Printing Technology (Direct Thermal, Thermal Transfer, and Others), By Application (Point-of-Sale, Tags & Labels, Ticketing, Lottery & Gaming, Medical, and Others), and Regional Forecast, 2020-2027
The globalthermal paper marketsize is projected to reachUSD 5.85 billion by the end of 2027.Increasing applications of the product across diverse industry verticals will aid the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled“Thermal Paper Market Size, Share and Industry Analysis, By Width (2.25”, 3.125”, and Others), By Printing Technology (Direct Thermal, Thermal Transfer, and Others), By Application (Point-of-Sale, Tags and Labels, Ticketing, Lottery and Gaming, Medical, and Others), and Regional Forecast, 2020-2027,”the market was worthUSD 3.45 billion in 2019and will exhibit aCAGR of 6.9%during the forecast period, 2020-2027.
COVID-19 Impact Analysis:
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Thermal paper is a specialty paper that is usually coated with a material that helps the paper transform its color when subjected to heat. The increasing applications of thermal paper are attributable to the favourable properties of the product. It is widely used in applications that require quick and short print slips including ATMs and other places that print out receipts. The growing product applications, coupled with the massive investment in the development of efficient products, will ultimately emerge in favor of the growth of the market in the coming years. The product is inclusive of easily derivable compounds as well as material available in abundance. The increasing investment in the research and development of efficient thermal paper will contribute to the growth of the overall market in the coming years. The presence of several large scale companies will emerge in favor of market growth.
Company Mergers Are Proving Beneficial for Existing Businesses
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Due to healthy market competition, several companies are looking to adopt strategies that will help them establish a strong position in the global market. It is observed that company mergers and collaborations are a growing trend among major businesses across the world.
In February 2020, Koehler Paper Group announced that it has completed the acquisition of Beaver Paper and Graphic Media Inc. The company is a manufacturer of sublimation media; a product that is used widely in the digital printing industry. Through this acquisition, the company will look to combine the portfolio of both the companies and improve the overall sales and distribution of sublimation media across the world. Koehler’s acquisition of Beaver will help the company establish a formidable position in the global market. Additionally, this acquisition will have a huge impact on the growth of the overall market in the coming years.
Browse Summary of This Research Report with Detailed Table of Content:
Market in Europe Held the Highest Share; Increasing Number of POS Terminals Will Emerge in Favor of Market Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these regions, the market in Europe currently holds the largest market share. The increasing number of POS terminals will emerge in favor of market growth. The increasing number of ATM transactions will also lead to a wider product adoption in numerous countries across this region. As of 2019, the market in Europe was worth USD 1.57 billion and this value is projected to increase further in the coming years.
List of key companies profiled in the Thermal Paper Market Research Report are:
March 2019:Ricoh Industries France announced that it will be expanding its production of thermal paper line. The company will be building a new coating machine to double its production capacity.Quick Buy Thermal Paper MarketResearch Report:https://www.fortunebusinessinsights.com/checkout-page/102811
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To view the original version on The Express Wire visit Thermal Paper Market 2020 Updates Related to Growth and Revenue Changes Created by COVID-19 | Finds Fortune Business Insightsâ„¢