Security Printing Market: An Overview
Increased cases of forgery and counterfeiting practices are anticipated to drive the security printing market over the forecast period. Counterfeiting practices are particularly prevalent in bank notes, passports, postage stamps, identity cards, stock certificates, and contraband. Security printing helps in prevention of tampering and forgery of the instruments mentioned above.
The key end market verticals in security printing market includes Banking, Financial Services and Insurance (BFSI), Supply Chain Industry and Legal authorities (Government bodies) responsible for issuing passport, legal stamps, driving license, personal unique ID birth and death certificates,. With an increase cases of deception and counterfeiting, it will lead to the demand for security printing across its various applications.
Major Key Players of the Security Printing Market are:
Madras Security Printers Private Ltd., Giesecke & Devrient, 3M, Simpson Security Papers, Inc, SPM – Security Paper Mill, HGT, Troy Group Inc., and Luminescence International Ltd
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Security Printing Market: Dynamics
Growth in demand for the security printing paper market is expected to rise due to many reasons:
– With rise in crime, financial instruments should be issued through secure printing.
– Developed countries would increase the usage of hybrid security printing papers to ensure their legal and financial documents are secured. Counterfeiting is expected to increase at an astonishing rate, which includes minor criminals producing illegal copies of tax stamps, forged documents, bank notes, and invading supply chains with changed packaging and goods. This will boost the demand for security printing market.
– Many countries has introduced new currency notes in recent years to safeguard their economy with money laundering, counterfeits and corruption. Kenya, Jamaica, Poland, Venezuela, Namibia, Pakistan and India has changed their currency notes in recent years, this is an indication of growth of security printing market in aforementioned regions. Governments are taking cautions especially to abort forgery and counterfeiting practices by implementing security printing in their legal documents and tender.
Security Printing Market: Segmentation
Global security printing paper market can be segmented on the application, security feature, and by regional.
Based on the application, the security printing paper market is segmented into –
· Legal Document Issuing Authorities
· Central banks
Based on the security feature, the security paper market is segmented into –
- Hybrid paper
- Color pigments
- Micro printing
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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