Thermal Papers Market is projected to grow at 2.7% CAGR through 2027

Thermal Paper Sales Witness Subdued Growth as Shift to Digital Payment Reduces Demand, Finds Fact.MR

Thermal Paper Market Trade Canvas

In 2018, over 3.1 million tons of thermal papers were sold globally and the consumption is likely to grow at a subdued rate of 2.7% in 2019, according to Fact.MR’s latest study. Retail industry continues to be the largest end-user, accounting for over half of global demand in 2018. Macro trends impacting the retail industry are also rubbing off on thermal papers demand, according to Fact.MR’s latest study. Growing adoption of digital payment methods in retail stores is likely to result in declining demand.

According to Fact.MR’s study, thermal papers market is likely to be complemented by steady demand from packaging and healthcare sectors.

“Thermal papers marketplace has been under the influence of a number of skirmishes wherein use of bisphenols has remained at the top of mind of thermal paper manufacturers and environmental protection agencies. However, product improvements and introduction of bisphenol-free thermal papers have sustained thermal paper utilization in traditional applications,” says a senior analyst at Fact.MR.

Application in Point of Sale (POS) Receipts Accounts for Hefty Demand

Application in point of sale (POS) receipts continues to account for a significant share in the thermal papers market. Fact.MR shows that use of thermal papers in the point of sale receipt application accounted for nearly 71% of the global demand in 2018. Point-of-sale commerce is the prime platform of bill exchange in multiple industries where cash and sometimes card-based transactions are involved.

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While estimating the future prospects of thermal papers market, Fact.MR has considered increasing penetration of e-commerce platform and digital payment methods in the retail industry leading to decreasing demand for point of sale commerce in the future.

The thermal paper industry has witnessed a number of skirmishes in the past decade. Bisphenols used in thermal paper manufacturing and associated harmful effects have been in limelight. While a handful of manufacturers have introduced bisphenol-free thermal papers, the industry witnessed a significant shift from bisphenol A to bisphenol S. And the use of bisphenol S continues to bemuse governments as its impact remain unanalyzed.

 

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