Security Printing Market is likely to register Single Digit CAGR during 2015 - 2023

Security printing includes printing of banknotes, product authentication, postage stamps, identity cards, stock certificates and passports. Companies, government organizations and institutes protect their valuable documents such as coupons, prescription pads and transcripts with by incorporating few features of the security printing in order to reduce the cost. Security printing is done to avoid tempering, counterfeiting and forgery. Security printing includes special paper, watermarks, intaglio printing, micro-printing, holograms, security threads, magnetic inks, anti-copying marks and serial numbers. Based on end-use applications, security printing market can be segmented as financial, tickets, brand protection, personal ID and others. Substrates, coatings and inks are expected to be largest product segment in the global security printing market and this trend is expected to remain same in the next few years.

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Imposing stringent regulations and standards across the world is expected to be a driving factor for security printing market. Security printing and law enforcement can help in preventing counterfeiters and detect forgeries which would eventually reduce frauds. Furthermore, need of brand protection is anticipated to boost the market growth. Brand names are major target for the product pirates. These product pirates copy brand name and status which would cost companies huge losses and reputation dilution. Additionally, rising counterfeiting is anticipated to boost the market growth for security printing. Counterfeiting is increasing at an alarming rate that include petty criminals, invading supply chains with altered packaging and good, illegal copy of tax stamps and producing fake documents and bank notes. This is affecting the society in all the regions globally and the issue of counterfeiting needs to address. Furthermore, increasing awareness about all the frauds in consumer groups is anticipated to drive the demand for security printing.

Consumer groups demand to track and trace the products they procure in order to reduce the losses they face. Consumer behavior is changing due to fusion of end-user markets and industries which allow them to access for all the products in market with one go.

However, growing digitization and convergence are expected to hamper the market growth. Thus innovations to develop new products with high security are expected to provide immense opportunities for the players in the market.

Asia Pacific emerged as the largest market for security printing in terms of demand. Middle East and Latin America is expected to be fastest growing in the next few years. Due to rising disposable income and changing consumer behavior in the developing countries of Asia Pacific, the demand for security printing is expected to remain high in the next few years. North America held the small share in the global security printing market. Growth for security printing market in North America is expected to revive in the next few years due to increasing awareness among consumer groups and companies about document security. Europe comprising Eastern and Western Europe is expected to grow at a moderate rate. Western Europe is expected to exhibit significant growth in the total market share.

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Global security printing market is moderately consolidated with few players accounting for major share. Some of the major players have presence across value chain and provide customized products and solutions for the customers. For instance, Giesecke & Devrient procure raw materials from its fully owned subsidiaries in order to reduce cost and maintain high quality of the product. Some of the key players in the global security printing market include 3M, Madras Security Printers Private Ltd. and Giesecke & Devrient.

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