Security Printing Market (Updated Version Available)

Key Market Overview:

Security printing market size was worth over USD 2.7 Billion in 2022 and is anticipated to reach over USD 3.7 Billion by 2030, registering a CAGR of 4.1% during the forecast period (2022-2030).

Security printing is a specific printing standard that is adopted by public and private ventures to prevent the forging and tampering of printed information. Multiple cues or features are used to create reliable and untethered legal documents such as stock certificates, identity cards, passports, banknotes, and tamper-evident labels. Additionally, numerous methods are adopted to prevent the counterfeits such as the usage of foils on document papers, specialized inks like UV ink, thermochromatic ink, and others, Covert Laser Readable (CLR) images, and holograms among others.

Such security printing is highly utilized in the creation of currency notes, bank cheques, labels of some of the established brands, postal/judicial stamps, university degrees/certificates/mark sheets, lottery tickets, passports & visas, identity cards, and stamp papers. All the mentioned applications involve security printing features such as variations in paper density, watermark appearance, and usage of specialty inks or magnetic inks. Thus, intaglio printing and micro printing are highly utilized to implement such unique features onto legal documents. Such factors are completely responsible for the security printing market growth that help in prevention of fraudulent activities within industries.

Report Attributes	Report Details
Study Timeline	2016-2030
Market Size in 2030 (USD Billion)	3.7 Billion
CAGR (2022-2030)	4.1%
By Printing Type	Screen Printing, Letterpress Printing, Intaglio Printing, Lithographic Printing, Digital Printing, and Others
By Application	Cheques & Demand Drafts, Certificates, Legal & Government Documents (Identification Cards, Banknotes, Legal Forms), Stamps, Tickets, And Others
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Wellspring Software Inc., TROY Group Inc., Graphic Dimensions Inc., D rintech, The Flesh Company, Pintegra, Plus Technologies, Agfa-Gevaert Group, Graphic Dimensions Inc., An Ennis Company, DSS, Amgraf Inc., Printech Global Secure Payment Solutions

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Market Dynamics:

Driver:

The growing prevalence of fraudulent activities in the form of unethical hacking increased forging of legal documents or counterfeits and tempering confidential documents have surged the adoption of security printing. Such adoption of security printing aids in the prevention of documents and sensitive information from being accessed by unsanctioned individuals. Additionally, major governments and financial organizations have surged their expenditures on research and development for minimizing the risk of counterfeiting and tampering. Thus, these organizations highly rely on specialized ink, printing papers in conjunction with watermarks, postage, and tax stamps to strengthen the emphasis on security printing.

Restraint:

The technology has advanced to such a level that unethical hackers or any unauthorized personnel have discovered loopholes to escape from legal protocols. It has become easy for such individuals to manipulate digitization and technological convergence such as smartphones and smart appliances for getting access to sensitive and confidential data of any personnel. Additionally, strict certifications and protocols related to sourcing top-grade security paper also restrict the market growth.

COVID-19 Impact:

The initial phases of the COVID-19 pandemic resulted in a major economic slowdown, especially in manufacturing industries such as security printing market. The growing numbers of COVID cases especially in the Asia Pacific and European region created a global alarming situation that resulted in halted production facilities, disrupted supply chains, and reduced business expansions. In the context of security printing, the labor shortage and shortage of security printers resulted in the decline of the overall market growth. However, the circumstances have started to pick up a pace from 2021 and are expected to bolster the market growth due to resumed business operations. The market is also anticipated to witness substantial growth due to the high emphasis on security by governmental institutions especially in printing identity cards, banknotes, passports, and product authentication.

Security Printing Market Segmentation:



By Printing Type

The printing type is segmented into screen printing, letterpress printing, lithographic printing, intaglio printing, digital printing, and others. The lithographic printing segment contributed the largest market share of over 34.6% in 2021. A wide range of commercially available business forms, newspapers, books, catalogs, brochures, labels, letterhead, magazines, product packaging, posters, and stationery are manufactured using offset lithography. This segment witnessed augmented demand due to the low costs, improved versatility, and creation of smoother and clearer images. Thus, multiple institutions rely on lithographic printing for applications such as asset management, document printing, cheque and value document printing, brand protection, and others. Furthermore, intaglio printing is also projected to contribute substantial shares to the market growth. This type of printing involves techniques such as engraving, drypoint, etching, aquatint, and mezzotint. Thus, intaglio printing is largely utilized for passports, banknotes, and a few postage stamps for the embossment of letterings.

By Application

The application segment is divided into cheques & demand drafts, certificates, legal & government documents, stamps, tickets, and others. The legal & government documents are also sub-segmented into identification cards, banknotes, and legal forms. These legal & government documents are also anticipated to account for the augmented share of over 35.2% of the security printing market statistics. Despite the increased rate of digitization in terms of these legal documents, the government and law firms still largely rely on physical vital records for recordkeeping tasks. Thus, such institutions integrate unmatched, in-line multi-press print systems for controlled and cost-effective operations. Thus, the need for top-quality, secure documents and labels is projected to increase the market demand in terms of legal documents. Furthermore, the cheques & demand drafts are also estimated to support the market growth due to the need for anti-photocopying and UV visibility features along with the high levels of watermarks, serial numbers, and bank name embossments.

By Region

The regional segment comprises of Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa. In the context of the region, North America is expected to offer the largest share contribution on the global level. The public and financial sectors have adopted extensive lithographic and screen printing to tackle the issues of counterfeiting and forgery. Thus, these sectors have increased the expenditures on printing stock certificates, passports, postage stamps, identity cards, and other legal documents.



Additionally, the Asia Pacific is also projected to support the market growth in terms of favorable conditions for security printing. The increased governmental surveillance for the prevention of fraudulent paperwork has surged the adoption of security printing in major public institutions. In the context of India, the growing cases of false bank profiles among multiple banks such as IDBI, ICICI Bank, Axis Bank, and Industrial Banks have boosted security printing market adoption to prevent such occurrences in prospects.

Security Printing Market Competitive Landscape:

The nature of competition in terms of the global market is primarily competitive due to the presence of extensive numbers of market players. These industry players have adopted multiple business strategies through product innovations to attract more profits to the market. As a result, other players are also engaging to form collaborative efforts and joint ventures for the creation of revenue generation opportunities in the coming years. Mentioned are the prominent market players that consist of the latest market concentration–
• Wellspring Software Inc.
• TROY Group Inc.
• Graphic Dimensions Inc.
• D rintech
• The Flesh Company
• Pintegra
• Plus Technologies
• Agfa-Gevaert Group
• Graphic Dimensions Inc.
• An Ennis Company
• DSS
• Amgraf Inc.
• Printech Global Secure Payment Solutions