Pune, India -- (SBWIRE) -- 09/29/2020 -- Thermal Paper Market will exhibit a CAGR of 6.9% during the forecast period, 2020-2027 and USD 5.85 billion by the end of 2027, and the market value as per 2019 was USD 3.45 billion.

Fortune Business Insights™ in a recently published report, titled, "Thermal Paper Market Size, Share & 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 & Labels, Ticketing, Lottery & Gaming, Medical, and Others), and Regional Forecast, 2020-2027."

Thermal Paper Market Drivers and Restraint :
Increasing Demand from Pharmaceutical Industries to Boost Growth
With rapid industrialization, there is an increasing need for sustainable packaging from various sectors such as cosmetics, food and beverage, pharmaceutical, personal care, and others. This stands as a major factor in boosting the Thermal Paper Market growth. Besides this, the booming food and beverage sector with increasing popularity for ready-to-eat frozen food and convenient food would increase its productivity, thereby demanding more containerboards for package and shipment purposes. This will bode well for the market in the coming years.
On the contrary, regulatory impositions based on the use of nature-friendly resources for the production of containerboards may pose a major challenge for the market players, thereby hampering the overall market size. Nevertheless, the rapidly developing e-commerce industry would aid growth. Apart from that, the rising preference for product-specific corrugated boxes for safety concerns regarding external stress is likely to create lucrative growth opportunities for the market in the forthcoming years.

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List of Significant Manufacturers Thermal Paper Market are:
- Lecta (Spain)
- Hansol Paper (Korea)
- Appvion Operations, Inc. (USA)
- Domtar Corporation (USA)
- Ricoh Industrie France SAS (France)
- Mitsubishi Hi-Tech Paper (Germany)
- Koehler Paper Group (Germany)
- Kanzaki Specialty Papers, Inc. (USA)
- Jujo Thermal Ltd. (Finland)
- Oji Paper Co., Ltd. (Japan)
- Kanzan Spezialpapiere GmbH (Germany)
- Iconex LLC (UK)
- Telemark Diversified Graphics (USA)
- Panda Paper Roll (China)
- Nakagawa Manufacturing (USA), Inc. (USA)
- Suzhou Xiandai Paper Production Co., Ltd. (China)
- PG Paper Company Ltd. (UK).
- Thermal Paper China (China)
- Chenming Group (China)
- Guangdong Guanhao High-Tech Co., Ltd. (China)
- Other Key Players

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 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.

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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 & 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.

Some of the key industry developments in the Thermal Paper Market Include:
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.

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