Middle East and North Africa Security Printing Market to Witness Stellar Growth Rate Upto 2027

"The Middle East and North Africa (MENA) security printing market was valued US$ 1.60 Bn in 2018 and is expected to reach US$ 2.41 Bn by 2027 with a CAGR growth rate of 4.5% in the forecast period from 2020 to 2027. "

From the past decade, the MENA high-security printing has experienced healthy growth, and the growth is driven by better economic performance, rising incomes, and infrastructure modernization across the region. Counterfeiting practices are particularly spread in banknotes, cheques, ticketing, stamps, payment cards, personal ID, brand protection, and passports applications.
Security printing solutions help in the prevention of tampering of various applications; also the security has become the fastest developing and most important technology in the printing industry.
The industry does not only secure printed documents, such as banknotes, cheques, and others, but also reduces the risk of increased danger and cost of counterfeiting and forgery. Security printing solutions reduces the production of counterfeit currency and security documents across the MENA region. The Saudi Arabia security printing market is expeted to witness an CAGR growth rate of 3.9% from 2020 to 2027.

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MENA Security Printing Market - Company Profiles

o JMBR Group
o Oumolat Security Printing LLC
o United Security Printing
o Al Ghurair Printing & Publishing LLC (AGPP)
o Al Madina Development & Supply LLC (ADS)
o Alpha Ink & Printing Materials Trading Co. L.L.C
o Andrupos
o Emirates German Security Printing L.L.C.
o HP Development Company, L.P.
o Hypertech Holograms L.L.C,

Increased Awareness Regarding Measures to Safeguard Personal Information

Security printing techniques are highly preferred to be used in documents that carry confidential information regarding an individual. During recent years, the use of materials such as e-passports and national ID cards has increased significantly. E-passports, also known as biometric passports, include a chip that can be used at the automated e-passport gates. The embodied chip holds similar information, which is printed on the passport's data page. E-passports are designed in a manner to increase security, which makes it more challenging to alter the data recorded on a passport and hence limiting the chance of fraud. Thus, driving the growth of the security printing market during the coming years.

Rise in the Incidences of Bank Forgeries

Financial fraud is among the most commonly faced issue among financial institutions, including banks present across the globe. The malpractice causes significant losses and depletion of wealth and assets. Financial fraud also hurts the reputation of a concerned institution, its competitiveness, and the economic value. Most of the cases can be due to the adoption of modern technology and advanced communication, such as the wireless mode since they are used by fraudsters to carry their operations and help them to improvise their skills and competences in connection with committing fraud. Thus, growing demand to prevent bank forgeries continue drive the growth of security printing market across the MENA region.

MENA Security Printing Market - Printing Process Insights

Process printing a process of making reproductions of a colored picture by utilizing four halftone plates in red, yellow, blue, and usually black for different colored inks. There are different types of printing processes. The primary printing processes are offset lithography, engraving, thermography, reprographics, digital printing, letterpress, screen, flexography, and gravure. Almost every commercial printer uses offset lithography; it is the workhorse of printing. However, the quality of the final product is usually due to the guidance, expertise, and equipment provided by the printer. The MENA Security Printing Market, based on printing process is segmented into screen printing, letterpress printing, intaglio printing, digital printing, and others.

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