Worldwide Security Printing Industry to 2027 – Implementation of Laws Along With Security Regulations is Anticipated to Fuel Market Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Security Printing Market By Function, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.

The Global Security Printing Market size is expected to reach $3.8 billion by 2027, rising at a market growth of 4.5% CAGR during the forecast period.

Key Market Players

• Document Security Systems, Inc.
• Agfa-Gevaert N.V. (IG Farben)
• Ennis, Inc. (Printegra)
• Graphic Dimensions, Inc.
• Plus Technologies LLC
• TROY Group, Inc.
• Wellspring Software, Inc.
• Amgraf, Inc.
• Graphic Security Systems Corporation
• Printech Global Secure Payment Solutions LLC

Security printing is primarily utilized for printing items which requires authentication like postage stamps, identity cards, passports, product authentication, banknotes, and stock certificates. Security printing includes holograms, copying marks, security threads, watermarks, anti-magnetic inks, serial numbers, micro-printing, special paper, and intaglio printing. With the help of security printing, it is possible to minimize the number of growing illegal activities like counterfeiting, tempering, and forgery.

The major factor driving the growth of the market is security inks. Similarly, the implementation of laws along with security regulations is anticipated to fuel market growth in the coming years. Additionally, tampering & alteration in branding of industry products and growing fraudulent activities in tax & postage stamps, financial institutions, and personal identities are some other determinants boosting the market growth. Moreover, growing awareness about counterfeit and fraud activities among customers is projected to boost market growth in the forthcoming years.

Additionally, security printing ensures the necessary aspects of protection due to which several computer systems are dependent on it. Moreover, holographic stickers are used to protect various software products against forgery. Holographic stickers are designed in such a way that it gets tear when it is detached from the product. Thus, security printing is in high demand among the manufacturers of above-mentioned items as it ensures the customer that the product has not been modified after the dispatch, thereby, these kinds of security measures are necessary to gain the trust of the customer.

COVID-19 Impact Analysis

Due to the outbreak of the COVID-19 pandemic, various industries experienced a negative impact including the security printing industry. At the beginning of the pandemic, Asia-Pacific and Europe were the regions that were severely affected by it. During the initial phase of pandemic, the number of COVID-19 patients drastically increased in these regions. Keeping in view the growing transmission rate of COVID-19 pandemic, the governments of several nations-imposed lockdown restrictions and other such norms. The imposition of lockdown hampered the production of security printing as there was a shortage of labor.

Market Growth Factors:

Growing applications in the finance and banking sectors

For specific applications of security printing, manufacturers are focusing on designing new products as the demand for new products is increasing based on their utilization at different places. In addition, the new products are integrated with enhanced security features that are very effective at several applications. Additionally, the finance and banking sector deals with the printing of cheques, banknotes, identity cards, stock certificates, and authentication and hence these sectors are witnessing massive application of security printing.

The rise in adoption of security printing for currency printing

For better regulation and governance, several manufacturers in the market are focusing on bringing advancements in technologies that are being used in currency printing. The presence of fake currencies in the market has a negative impact on the economy of nations as the international value of the original currency is getting reduced, which significantly slows down the economy of nations. Moreover, the spread of fake currency has a direct effect on the prices of commodities. Thus, governments across the globe are implementing measures to eliminate or minimize the presence of fake currencies in the economy.

Market Restraining Factor:

Rapid shift towards a cashless economy and digitalization in identification cards

As the world is rapidly evolving, technological advancements are also growing. Due to these technological advancements, the nations are moving towards digitalization and a cashless economy. Cashless economy is the physical stream of national denomination being replaced with online or digital platforms like the launch of plastic cards, internet banking, and online transactions. This evolution has reduced the use of national currency due to which, security printing is witnessing a slowdown in its demand.

Market Segmentation:

By Function

• Lithographic Printing
• Digital Printing
• Letterpress Printing
• Screen Printing
• Intaglio Printing
• Others

By Application

• Legal & Government Documents
• Cheques
• Certificates
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

For more information about this report visit https://www.researchandmarkets.com/r/edrc5p

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

[email protected]
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900