Thermal Paper Market: Overview
Thermal paper is a special fine paper that changes color when exposed to heat. The surface of the thermal paper is coated with a solid state mixture of a dye, with a suitable matrix. When the coated matrix is exposed to heat above its melting point, the dye reacts with acid and gets back to its colored form; the changed form is conserved in a metastable state when the matrix quickly solidifies back. The acid used in the thermal paper is often Bisphenol A (BPA). Leading public health authorities such as the U.S. Food and Drug Administration (USFDA), the European Food Safety Authority, the Food Safety Authority of Australia and New Zealand, and Japan’s Ministry of Economy, Trade, and Industry (METI) have approved the use of BPA in food applications.
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Thermal Paper Market: Dynamics and Trends
Thermal paper is employed in various applications including Auto Teller Machines (ATM), thermal printers, cash registers, billing machines. Rise in importance of labeling in packaged food products and pharmaceutical products to meet the quality regulations is also driving the market for thermal paper. Increase in demand for packaged foods in emerging economies is also augmenting the thermal paper market.
Many food safety authorities approve the use of Bisphenol A; however, stringent regulations against its usage may adversely affect the market during the forecast period. Furthermore, increase in adoption of e-receipts in developing economies is estimated to hamper the thermal paper market in the next few years.
New vendors in the thermal paper market are expected to have immense opportunities in developing economies such as India. In November 2016, the Government of India banned the usage of Rs. 500 and Rs. 1000 notes to reduce black money and increase cashless transactions and digitization. This has positively impacted digital transactions, thereby contributing to the increase in usage of thermal paper. This is also anticipated to provide ample opportunities to new entrants in the thermal paper market.
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Thermal Paper Market: Key Players
Major players operating in the thermal paper market include RICOH, Oji Holdings Corporation, Appvion, Inc., Tele-Paper Malaysia, Koehler Paper Group, Henan Jianghe Paper Co., Ltd., NAKAGAWA Manufacturing (USA), Inc., Gold Huasheng Paper (SuZhou Industrial Park) Co., Ltd., PM Company LLC, Mitsubishi Paper Mills, Hansol Paper, and Jujo Thermal Ltd.