Security Inks Market is projected to be worth USD 4062 Million by 2028, registering a CAGR of 4.86% during the forecast period (2021 - 2028).
Security Inks Market Overview
The Security Inks Market has aimed to meet the security inks market size of USD 0.7 billion for the year 2019. Further, it is predicted to register 4.1% of the CAGR for the forecast period of 2030. In general, the security ink market is also known as anti-counterfeit printing ink. This is also considered a significant part of anti-counterfeit technology. Security inks are widely used in the various security printing industry because it prevents counterfeiting, tampering, or forgery of confidential and private documents like passports, checks, security labels, and stock certificates.
Further, the type segment has been classified into 10 factors fluorescent, invisible, thermochromic, biometric, infrared, optically variable, reactive, magnetic, and erasable. The application segment is based on tax banderoles, official identity documents, banknotes, security labels, consumer packaging, and others. The printing method segment has been categorized into intaglio, letterpress, flexographic, silkscreen, offset, and others.
Regionally, the global Security Inks Market has been spread across various areas like Asia-Pacific, Latin America, the Middle East & Africa, Europe, North America, and other parts of the world. The Asia-Pacific regional market is predicted to be the fastest-growing region in 2018. Further, the European and North American market is expected to grow faster during the forecast period due to the rising awareness about document security and high instances of forgery and counterfeiting.
COVID 19 Analysis
The global COVID 19 has brought a halt for the entire global security inks market in one or another ways. The demand for security Ink has been reduced due to the shutdown of chemical plants and factories in the global lockdown. Moreover, this lockdown has suppressed the sales count and brought huge losses in production.
The security inks market overview report mentions that COVID-19 was a negative impact on the entire market. But the continuous efforts of the global key players have the ability to stand the global market in its position, and the demands are slowly accelerating yet again.
In the financial and banking sector, counterfeiting and forgery activities are increasing day by day, which is the major growth driver of the security inks market. The continuous flow of confidential and private information requirements is forcing these industries to adopt the security ink product. Along with that, the increasing current flow due to the economic conditions improvements of the people is growing the demand of the security inks. Also, the increasing concerns among the customers regarding the legitimacy of the legal document are increasing the demands of the security ink products.
Moreover, the adoption of smart labeling by retailers and government agencies to track the supply chain movements is driving the global security inks market growth during the research period.
Several techniques like biometric identifier, barcode, embossing stamp, reversed out text ink stamp, photo integration, fluorescent serial number, and iFADO are estimated to find out the forgery, which is predicted to increase the security inks demand across the world. Hence, this brings more opportunities for the global market.
The global security inks market has brought lucrative opportunities for manufacturers and industrialists. So the industrialist and manufacturers are taking strategic growth initiatives to strengthen their positions by introducing new products and making partnerships. Further, the continuous efforts of the market well-wisher are generating a higher security inks market share in the upcoming years.
The security inks market growth might get hampered due to the increasing adoption of digitalization, for example, the increasing use of cashless transactions.
The security inks market analysis report explains that the global key players focus on hindering market growth from developing its strength and opportunities in the upcoming years.
The global COVID 19 was the biggest challenge for the global market as it has reduced the products demand due to the shutdown of chemical plants and factories in the global lockdown. Along with that, the security inks market prices and the increasing adoption of digitalization might be another challenge for the security inks market.
Hence, the global key players' continuous efforts can stand the global market in its position, and the security inks market demand is slowly accelerating yet again.
The global security inks market has aimed to achieve USD 0.7 billion to increase the security inks market size for the reviewed period. Further, the global market has estimated to register a CAGR of 4.1% for the forecast period of 2030.
Further, the collective efforts are predicted to grow higher security inks market share.
The security inks market is classified into various types such as fluorescent, thermochromic, invisible, biometric, optically variable, infrared, magnetic, reactive, erasable, and others based on the type segment.
In 2016, the Indian government suddenly announced the demonetization, which has increased the demand for security inks in the Asia Pacific region. Here, some of the preferable security Ink types have been chosen for the work process.
According to the printing method segment, the security inks market has been segmented into various methods such as intaglio, flexographic, letterpress, offset, silkscreen, and others.
These printing methods are unique and widely preferred by various industrialists.
The global security inks market is classified into tax banderoles, banknotes, official identity documents, consumer packaging, security labels, and others based on the application segment.
Different applications ensure that the customers get their preferable type of Security ink easily without any hassle.
Looking into the regional classification, the security inks market has spread its helping hand to many regions, like Asia-Pacific, the Middle East & Africa, Latin America, North America, Europe, and other parts of the world.
The security inks market forecast report explains that the Asia-Pacific region is considered the fastest-growing region for the global market in 2018. Moreover, the Indian government has announced the demonetization without any notice, which has increased the security inks demand in this region. Along with that, North America and the European region are expected to grow at the fastest rate for the forecast period due to the high instances of counterfeiting and forgery and increasing awareness pertaining to document security. Further, due to less adoption of the product, the Latin America and the Middle East & African regions are growing at a moderate rate.
According to the security inks market overview report, the global key players are enhancing the demand for the product by applying promotional methods. These key players are:
The security inks industry report explains that the global key players focus on hindering market growth from developing its strength and opportunities in the upcoming years.
In October 2021
A dealership contract has been signed between prominent players like West Star and CCX Technologies. This deal was aimed to enhance the U.S.-based cyber security solutions dealer network of CCX. It states that West Star Aviation will maintain, sell, and install the onboard products portfolio that offers flight data and actionable security capabilities.
The security inks market analysis report has analyzed that the increasing passports and visas demand and the increasing tourism activities are increasing the growth of the global product. This report has highlighted the market overview, recent developments, competitor analysis, market segmentation, and regional analysis.
Further, the global market is fighting with the challenges and restraints to uplifts its business across the regions. So the global market has involved more key players in generating more market revenue in the upcoming years.
By Printing Method:
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Printing Method and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SICPA HOLDING SA (Switzerland), Sun Chemical (US), Microtrace, Kao Collins Corporation (US), Chromatic Technologies Inc. (US), Gleitsmann Security Ink GmbH (Germany), Chroma Inks (US), The Cronite Company (US), Naigai Ink Mfg. Co. Ltd (Japan), Guangzhou Mingbo Anti-Forgery Technology Co. Ltd (China).|
|Key Market Opportunities||The industrialist and manufacturers are taking strategic growth initiatives to strengthen their positions by introducing new products|
|Key Market Drivers||In the financial and banking sector, counterfeiting and forgery activities are increasing day by day, which is the major growth driver|
The Asia-Pacific region is considered to be the fastest-growing region for the global market in the year 2018.
The Security Inks Market is segmented into various types such as invisible, biometric, fluorescent, thermochromic, optically variable, reactive, erasable, infrared, magnetic, and others.