Knowledge Sourcing Intelligence announces the publication of a new report on Global Security Printing from 2019 to 2026 to their offering.
The global security printing market is expected to grow at a compound annual growth rate of 5.32% over the forecast period to reach a market size of US$45.027 billion in 2026 from US$31.319 billion in 2019.
Security printing is a division of the printing industry which undertake the crucial task of printing banknote, passport, cheque, identity card, and authentication cards among others. Security printing prevents the tampering and forgery of the instruments mentioned above. The primary goal of the security printing is to prevent the possibility and cases of counterfeiting, forgery, and tampering. The rise in the number of cases of counterfeiting and forgery is expected to drive the security printing market during the forecasted period. Thus, the increasing instances of tampering is primarily driving the market growth of the security printing market. Nepal police arrested Yunus Ansari In May 2019 on grounds of printing a fake Indian currency note of value Rs. 2,000. Further, his 3 associates were also arrested and found possessing Rs. 7.5 crore of same denomination of fake Indian Currency. The increasing case of counterfeit is making it absolute necessity to introduce security printing.
The increasing requirement of the Tickets and Brand Protection is expected to hold a significant share of the security printing market on the basis of application during the forecasted period. The increasing requirement can be attributed to the companies indulging in the huge losses and the drastic effect on the company operations and brand name due to the copying of the brand names and pirated products. The new products developed with high-security features is providing the market growth opportunities to the market players of the security printing. The Loreal’s counterfeiting case of 2018 was declared exemplary by Supreme People’s Court in 2020.
The company observed an online platform, Taobao selling its counterfeited products which were misguiding and harmful for customers. Shanghai Public Security Bureau undertook a thorough investigation and found 22,600 bottles of fake products, 13 suspects and 16 targets, fake bottles had Loreal label, costing worth RmbH 4.6 million. After the case Loreal strengthened its security printing technology so the consumers can distinguish its products from the fake one.
The Global Security Printing Market based on region is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions.
Asia Pacific region is forecasted to have notable market share during the forecasted period and is expected to grow rapidly due to the adoption of the advanced technology in countries such as China, Nepal and India. In addition, the rising concern regarding the corruption, fake currency and terror funding will boosting the market growth of the security printing during the forecasted period. The increasing digitalization and adoption of modern methods of banking is further augmenting the market. The government of various countries are taking precaution to prevent the misuse of the fake currency. For instance, China introduced new edition of China currency with bright colours in Aug 2019. The currency had more enlightened anti-counterfeiting features.
North America is expected to hold the major share of the security printing market primarily due to the surging scrutiny and investment in combating the counterfeiting documentation and currency and the tightening laws.
The global security printing market is segmented on the basis of printing process as Lithographic Printing, Screen Printing, Digital Printing, Letterpress Printing, Intaglio Printing and Others.
The global security printing market is segmented on the basis of application as Financials, Tickets, Personal ID, Brand Protection and Others.
Financials expected to hold the major share of the security printing market on the basis of application owing to the severe effects of forgery, tampering and counterfeiting on the economy.
Law enforcement along with the security regulations are driving the security printing market. Banknote counterfeiting, complete banknotes and high-security materials are being sourced under false deceit from the security printing industry. The banknote printing and security showcased absolute necessity to take necessary steps to verify bonafide nature of orders with relevance issuing institutions. For instance, Interpol assigned Project S-Print that joins a law enforcement community and the security printing industry with aim to reduce the proliferation of counterfeit currency and security documents globally.
However, the transition towards the digitalization of the identification cards, cashless economy and strict certification regarding the security paper is expected to hamper the market growth of the security printing industry during the forecasted period.
As a part of the report, the major players operating in global security printing market, which have been covered are 3M, Giesecke + Devrient, Thomas Greg & Sons Ltd., De La Rue Supply Chain Bolton, ABCorp, Gemalto
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/security-printing-market
This report segmented the Global Security Printing Market on the basis following terms