Security Ink Market is expected to rise at a remarkable CAGR By 2024.
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Forms of security inks that are used on a large scale include thermo-chromic ink, invisible ink, magnetic ink, optically variable ink, reactive ink, biometric ink, water based ink, and secondary fluorescing ink. These forms are majorly classified into two sub-classes: instant verification inks and tamper evident inks.
The selection of security inks depends primarily on the purpose it is used for. Usage of a suitable type of security ink helps one understand if any attempt to alter the document was made or not. Security inks are generally used in conjunction with other security features so that any changes can be easily identified.
Security inks usually comprise fluorescent pigments, which tend to change their color once the angle is changed. A government or legal document has a peculiar color scheme; based on the change in color, one can identify whether the document has been tempered or not.
Security Ink Market: Trends
Security inks are used extensively to protect and authenticate important documents. These forms of inks are primarily employed in government documents in order to keep a check on their authenticity. Of late, security inks have been employed in the printing of lottery tickets, gift vouchers, and event tickets. Initially, these did not require much security.
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Security inks are compatible with letterpress, offset, intaglio, flexographic, numbering, and silk screen printing methods. Researchers are striving to develop security inks that are invisible in ambient and UV light, but can be read with the help of a fluorescence microplate reader.
The technique for development of security inks is mostly patented. Of late, the practice of counterfeit and forgery has been increasing. It has become difficult to identify these malpractices. Therefore, companies are striving to manufacture an improved version of security inks.
The outlook for the security ink market appears positive, considering the increase in usage of these inks and wide range of applications. The global security ink market is expected to expand at a rapid pace during the forecast period owing to the rise in the concerns regarding the authenticity of legal documents.
Security Ink Market: Region-wise Outlook
The security ink market is considered highly developed in North America, especially in the U.S., due to the presence of various production units for security inks and high utilization rate of these inks. The security market in Europe has been expanding significantly since the last few years. This trend is projected to continue during the forecast period.
The security ink market in Asia Pacific is expected to expand at a moderate pace due to the implementation of regulations by various countries in the region. The security ink market in Latin America and Middle East & Africa has been witnessing a sluggish growth, however it is expected to witness rapid growth in the future as major manufacturing companies have been focusing towards shifting their operations in these two regions.
Security Ink Market: Key Players
Key players operating in the security ink market include Sun Chemical, Gleitsmann Security Inks, Letong Ink, Kao Collins Inc., Ink Tec Inc., Villager Security Solutions AG, Luminescence, and Hologramas de Mexico.
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