ID: MRFR/SEM/6209-HCR | February 2021 | Region: Bric | 100 pages
The Microprinting Market was valued at USD 541.2 million in 2018 and is expected to reach USD 751.8 million by the end of the forecast period at a CAGR of 5.91%. Microprinting is one of the important technologies that is used to prevent fraudulent activities such as the forging of documents, currencies, and cheques. Microprinting is the printing of characters in extremely fine size which cannot be read with the naked eye. Documents with microprinted characters cannot be copied, as when these characters are printed, they would appear as a series of dots or a solid line. Government organizations use microprinting to avoid counterfeiting. For instance, the United States Department of the Treasury uses microprinting in three areas of its check. The most common application of microprinting is in currency as it requires the highest level of counterfeiting deterrence. Microprinting is also used on miniaturized electronic components, high-end personal care products, and wires and cables which require product traceability.
The various government standards and regulations for upgrading security for currency and certificates are fueling the growth of the microprinting market. Furthermore, the development of innovative microprinting techniques along with cost-effective technologies has improved its applications in different industry verticals; these factors are expected to boost the growth of the microprinting market.
The microprinting market is estimated to grow at a significant pace during the forecast period from 2019 to 2024. The geographic analysis of microprinting market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the aforementioned regions, Asia-Pacific is expected to dominate the microprinting market. The wide adoption of microprinting technology in countries such as China, Japan, and India is leading to the growth of the market. Microprinting technology is largely being applied to consumer electronics packaging for printing product information. China being the largest manufacturer and exporter of consumer electronics is creating immense opportunities for the growth of microprinting market. North America is also expected to witness huge demand for microprinting technology owing to the demand from the BFSI and packaging sectors.
Microprinting Market, USD Million
Source: MRFR Analysis
The microprinting market has witnessed a high demand globally due to the rise in security banks to prevent fraudulent activities. Major players have opted for partnerships and product launches as their organic growth strategy to strengthen their market position. For instance, in July 2018, Ricoh builta new factory in Dongguan Guangdong, China, for office printing machines. With this, the company aims at enhancing its global production capacity.
The key players in the microprinting market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Xerox Corporation (US), Videojet Technologies, Inc. (US), Matica Technologies AG (Germany), Team NiSCA (US), Ricoh Company Ltd. (Japan), Saueressig GmbH Co KG (Germany), Hewlett-Packard Company (US), Brady Corporation (US), Printegra (US), Gallas Label & Decal (US), and Diagramm Halbach GMBH (Germany). These players contribute a major share in the growth of microprinting market.
Apart from the top key players, there are other local and regional players that contribute to the market growth. These include Source Technologies (US), SAFEChecks (US), Domino Printing Sciences PLC (UK), Control Print Ltd. (India), and Data Carte Concepts (Canada).
Microprinting Manufacturing firms
Research organizations and consulting companies
|Market Size||USD 751.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Ink Type, Substrate Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||The government organizations are implementing the use of microprinting in a major way.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
CAGR of 5.91% is the rate of the growth the market is progressing at.
The market recorded USD 541.2 million in 2018.
The countless government standards and regulations for upgrading security for currency and certificates are fueling the growth of the microprinting market.
Asia-Pacific is the region which is going to lead the microprinting market.
The wide adoption of micro printing technology in countries of China, Japan, and India is leading to the growth of the market. Thus, Asia Pacific region is gaining the most of the spotlight.