The global Security Printing Market size is estimated to reach USD 4.04 billion by 2028, according to the new report by Grand View Research, Inc. The market is expected to witness a CAGR of 3.9% from 2021 to 2028. Security printing deals with the printing of items such as passports, banknotes, product authentication, stock certificates, tamper-evident labels, postage stamps, cheques, and identity cards.
Security printing is widely used to prevent tampering,
forgery, and counterfeiting. Different types of security printing techniques
are used for different applications. The market is estimated to witness growth
over the forecast period owing to rising incidences of counterfeiting and
forgery practices. Counterfeiting practices are mainly rampant in banknotes,
postage stamps, passports, stock certificates, identity cards, and product
authentication. Security printing helps in the prevention of forgery and
tampering of the aforementioned instruments.
The key end market verticals in security printing
include Financial Services, Banking, Insurance, personal ID industry, ticketing
industry driving license industry, passport industry, and birth certificate
issuing. Several methods used in security printing involve holograms, Ultra
Violet (UV) printing intaglio printing, micro printing, geometric lathe work,
magnetic inks, anti-copying marks, guilloches, color-shifting ink, and rainbow
printing.
Security printing can help prevent counterfeiters and
reduce fraudulent instances. For instance, in the case of currencies and bank
checks, micro printing plays an important role to avoid counterfeiting
practices. Additionally, serial numbers enable easier identification of
legitimate documents for auditing and tracking. The serial numbers are also
used in detecting counterfeits by tracking a check digit. Magnetic ink
character recognition technology considerably helps in the reduction of errors
in the computerized or automated reading of documents and currencies.
The increasing need for brand protection is expected
to support market growth. This can be attributed to the companies indulging in
huge losses and reputation dilution due to the copying of the brand names by
the product pirates. Increased emphasis on brand protection is expected to be
conducive for market growth. Recently many of the techniques used to protect
high-value documents have become available to commercial printers, with the use
of traditional offset, digital platforms, presses, or flexographic.
Security paper and polymer materials are often used as
substrates to perform security printing. Several methods used in security
printing include magnetic inks, intaglio printing, holograms, micro printing,
anti-copying marks, geometric lathe work, guilloches, rainbow printing,
fine-line printing prismatic coloration, color-shifting ink, and Ultra Violet
(UV) printing.
The market finds major applications in the banking and
tourism sectors. The tourism sectors were drastically impacted by the Covid-19
pandemic. Restrictions on domestic and international travel have considerably
affected the tourism sector. The shut-down of manufacturing units caused a
delay in the production of security printer parts and accessories, leading to a
decline in the sales of security printers.
Related Press Release@ Security Printing Market Report
Security Printing Market Report
Highlights
- Increasing awareness of various fraudulent activities among
customers is expected to create new opportunities for the market growth
- The critical factors driving the market growth are increasing
technological advancements and the adoption of currency printing for better
regulation and governance
- Companies are heavily investing in the research and development of
efficient technological solutions to secure financial documents and
currency
- The lithographic printing segment dominated the market in 2020 and
is expected to expand its market share to more than 30% by 2028
- The legal and government documents application segment held the
largest market share in 2020 owing to increasing printing, reprinting, and
circulation of banknotes and the growing tourism industry resulting in the
rising implementation of security printing
- North America is expected to witness considerable growth over the
forecast period on account of the growing awareness about document
security and high instances of forgery and counterfeiting
- The prominent players in the industry include Agfa-Gevaert Group;
DSS; Printegra, An Ennis Company; TROY Group, Inc.; and Wellspring
Software, Inc. Key players are focusing on research and development,
which, in turn, would help increase their market presence
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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