Security Printing Market

Report Overview

Security Printing Market is expected to grow at a CAGR of 4.2% in the forecast period (2023-2032), with the market size valued at USD 4.24 billion in 2021 and projected to reach USD 6.7 billion by 2032.

Product Overview

Security printing is used to stop criminal activity like counterfeiting, forging, and tampering. Secure printing, packaging, and seals are essential components of computer systems for security. One defense used by software items against counterfeiting is the use of holographic stickers that rip off when taken out of the packaging. As a result, security printing makes it easier to incorporate security controls that guarantee users that the product hasn't been tampered with. Numerous industries, including banking and finance, aerospace, railways, and others are covered by these applications, which also include personal identification, tickets, brand protection, financial papers, and more. The security printing market is expanding in part due to the continual advances in the electronic systems sector.

Market Highlights

Security Printing Market is Expected to Exhibit a CAGR of 4.2% During the Forecast Period

Security Printing Market is expected to reach USD 6.7 billion, growing at a CAGR of 5.4%. The market is expanding owing to the rising counterfeiting concerns, stringent regulatory mandates, a greater emphasis on brand protection, ongoing technological advancements, the expanding e-commerce landscape, the influence of globalization, the financial sector's reliance on secure printing, government initiatives, increased awareness, and the integration of security features across diverse industries. These considerations, taken together, drive demand for secure printing solutions with comprehensive anti-counterfeiting measures across industries such as finance, pharmaceuticals, and consumer goods.

Source: Fatpos Global

Security Printing Market Segmentation

Intaglio segment is expected to dominate in the forecast period

Based on the Type, the Security Printing Market is divided into Intaglio, Offset, Letterpress, Gravure, Screen Printing, and Others. Intaglio printing remains the dominant segment, recognized for its great security, durability, and detailed details, making it perfect for important documents such as banknotes. Its etched, recessed picture enables for complex designs and haptic components that are difficult to copy, ensuring superior anti-counterfeiting. Global demand for intaglio remains robust.

Banknotes segment is expected to dominate in the forecast period

By Application, the Security Printing Market is divided into Bank Notes, Legal and Government Documents, Identity Cards, and Others. Banknotes are the dominating product category in the security printing industry as governments and central banks have made significant efforts in upgrading currency security to combat currency fraud. Economic expansion, an increase in the amount of money in circulation, and enhanced security measures made possible by technology development all contribute to a rise in banknote demand.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Growing Need to Combat Fraud and Fabrication to Boost the Market

Growing need to prevent counterfeiting and forgery, which have become common in a variety of industries including finance, personal identification, and product branding, is what largely drives the worldwide security printing industry. In order to safeguard their assets and preserve public trust, governments and organizations all over the world are implementing strict security legislation and investing in cutting-edge security measures. The incorporation of cutting-edge technologies like holograms, RFID (Radio-Frequency Identification), and encrypted barcodes into printed products reflects the increased emphasis on security precautions. Through increasing demand for cutting-edge security printing technologies and solutions that provide improved protection against fraudulent activities, these advances further support the industry.

Increased Banking and Finance Usage Will Help the Market Develop

Manufacturers have focused their efforts on developing unique goods targeted to certain applications, driven by a variety of needs resulting from a variety of usage circumstances. Prominent industry participants have acknowledged the significant impact of increased security features across a wide range of applications. Notably, there has been a huge increase in the use of security printing in the banking and finance industries. This increase in usage can be attributed to the financial sector's need for secure handling of financial instruments such as banknotes, checks, identity cards, authentication documents, stock certificates, and more, all of which rely heavily on advanced security printing techniques to prevent counterfeiting and fraud.

Restraints

High Implementation Costs for Cutting-Edge Security Printing Technologies

While the worldwide security printing industry is propelled by the need to combat counterfeiting and forgery, it is hampered by high implementation costs for advanced security printing technologies. The incorporation of advanced elements like as holograms, special inks, and security threads can significantly increase production costs, providing a considerable problem, particularly for small and medium-sized businesses with restricted finances. Additionally, the ongoing need for research and development to keep up with counterfeiters and respond to changing security threats increases the overall expense burden. These cost limits may impede widespread adoption of security printing solutions, limiting the market's growth potential.

Recent Developments

• MatriX-Intaglio, a novel high-security ink meant to prevent the counterfeiting of papers, packaging, and banknotes, was introduced by NanoMatriX in April 2023. The printing sector and government entities are the new ink's target markets.
• The French central bank, Banque de France, stated in July 2022 that it would spend EUR 220 million (USD 2.7 million) to upgrade and expand its banknote producing plant. The bank recently made an announcement about the beginning of development on a new banknote printing facility at its Vic-le-Comte paper mill. The bank would be able to streamline the printing procedures.

Security Printing Market

Key Players:

• De La Rue plc
• Giesecke+Devrient (G+D)
• Oberthur Fiduciaire
• SICPA
• CCL Industries
• Security Printing and Minting Corporation of India Limited (SPMCIL)
• Hologram Industries
• Morpho (Safran Identity & Security)
• Thomas Greg & Sons
• Fortress Paper Ltd.
• Goznak
• Arjo Solutions
• EPL Archives
• Beijing Fuxing Xiao-Cheng Electronic Technology Stock Co., Ltd. (BXJ)
• Uflex Ltd.
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Security Printing Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America leads the market in terms of lithographic and screen printing, particularly in the United States, Canada, and Mexico. They were early users of these manufacturing procedures. Anti-counterfeiting measures such as photo integration, barcoding, biometrics, and others propel expansion even further.

 Source: Fatpos Global

Impact of Covid-19 on Security Printing Market

The COVID-19 pandemic has raised demand for healthcare services, specialized food items, and medical and pharmaceutical products. The epidemic has had a significant impact on the global security printing market. Manufacturing facilities around the world had difficulties in producing security printers and improving existing ones, with a significant section of the workforce restricted to their homes, posing a threat to the global supply chain and causing disruptions. However, it is worth mentioning that, while significant, the impact on the security printing business is projected to be somewhat less severe when compared to numerous other industries. This resilience originates from security printing's vital position in banking and finance, where its applications remain indispensable even in the midst of the epidemic, ensuring sustained demand for secure printing solutions in these industries.

Security Printing Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Security Printing Market Scope and Segments:

Frequently Asked Questions (FAQ):