NEW YORK, Aug. 27, 2019 /PRNewswire/ -- Thermal Paper Market Size, Share & Trends Analysis Report By Technology (Direct Thermal, Thermal Transfer), By Application (POS, Lottery & Gaming, Tags & Label), By Region, And Segment Forecasts, 2019 - 2025
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The global thermal paper market size is expected to reach USD 5.37 billion by 2025. It is projected to expand at a CAGR of 7.7% during the forecast period. Growing POS terminal market coupled with rise in demand for labels is driving the growth. Additionally, growth of food and beverage industry due to increasing population in economies, such as China and India is expected to boost the product demand in near future.
North America held the maximum market share in the previous years and is expected to continue leading over the forecast period on account of the presence of well-established manufacturers like Hewlett-Packard; Cisco Systems Inc.; and NEC Corporation. Nonetheless, growing number of e-commerce portals and importance of mobile POS in Canada and U.S. is restraining the market growth.
Potential significant demand from pharmaceutical industry of developing economies considering present regulatory policies is expected to promote the importance of labels and tags in the region, thereby affecting the market growth. Furthermore, current and the growing applications of thermal paper due to NPD by manufacturers are expected to offer lucrative growth opportunities.
Growing mining sector in Brazil, Chile, and Peru in view of rising foreign investment is expected to propel the demand for labels and tags, thereby influencing growth of thermal paper market. Increasing use of POS terminals by the retail segment along with emergence of supermarkets like Wal-Mart and Future Group is expected to contribute remarkably to the market growth.
Further key findings from the report suggest:
- North America held the largest thermal paper market share due to strong presence of key manufacturers, potential demand from POS terminal market, and growing consumption of food and beverage and pharmaceutical in the region
- Growing government initiatives in Europe for presentation, labeling, and advertising of food products, leading to rise in demand for tags and labels is expected to increase the applications in POS terminals
- Growing importance and acceptance of tags and labels in pharmaceutical and food and beverage industry along with increasing application of RFID tags in healthcare sector is expected to lead the market with a CAGR of 7.4% over the forecast period
- Increasing use of thermal paper in lottery and gaming domain is expected to face a credible threat from e-commerce portals offering the lottery services, thereby restraining growth
- The present market condition and sales and distribution location is another benefitting factor for the key players to improve their market positioning and improve their product portfolioDownload the full report: https://www.reportbuyer.com/product/5807271/