Security ink plays an integral part in the development of anti-counterfeit technology. The product is mostly used in press to maintain originality of the printed products and stop counterfeiting, forgery, tampering, and other misuse of the valuable documents. The global security ink market is expected to ensure a growth for itself at 4.86% ACGR during the forecast period of 2021 to 2028. Market research Future (MRFR) in their latest report on the same market discloses a high possibility for the market to topple the expected valuation market by the end of 2028.
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Several factors are expected to provide tailwind to the global security ink market. These drivers are mostly demand from the banking and finance sector. Counterfeiting of documents could lead to various falls which companies cannot afford. Hence, the demand is growing. Increasing tourism industry is also spurring a demand for passport and visa where the system is well-required. Rising disposable income is also expected to provide substantial market thrust.
MRFR has made a segmental analysis of the global security inks market in their latest report on the same for a better understanding of various market pointers that can impact the market in the coming years. These segments are type, printing method, and application.
Based on the type, the global security ink market includes invisible, optically variable, infrared, biometric, fluorescent, thermochromic, magnetic, reactive, erasable, and others. These inks play an important role in enhancing the provided security. Various places like airports, defense, electoral holdings, and other segments use this technology to ensure high standard of security.
Based on the printing method, the global security ink market can be segmented into letterpress, offset, silk screen, intaglio, flexographic, and others.
Based on the application, the global security ink market includes banknotes, tax banderoles, official identity documents, consumer packaging, security labels, and others. The consumer packaging segment is gaining substantial market traction due to hike in standard of logistics.
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MRFR’s region-specific take of the global security ink market includes namely, North America, Europe, Asia-Pacific (APAC), Latin America, and the Middle East & Africa (MEA). This report has its focus set on various demographic changes to understand the flow of the global market in the coming years.
The APAC region has the tag of being the fastest growing region and produces a strong demand for currency printing. Several moves initiated by regional governments are ensuring hike in the demand for the security ink. In India, demonetization in the years 2016 triggered such a huge need for security inks.
North America and Europe are all set to record a strong growth for the security ink market by launching a widescale application of the same for document security. The region is also facing a high number of cases with connections to forgery and counterfeiting. To get rid of some adverse impacts these two regional markets are sure to create more space for security ink market to work on.
The Latin America and the MEA are expecting a growth at a moderate speed which is due to a lack in the adoption rate of such products.
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Several companies in the global security ink market are playing integral roles in taking the global market ahead. The process includes extensive use of their strategic moves to solidify their market position which also helps them in transforming the market on a holistic level. These companies are Sun Chemical (US), SICPA HOLDING SA (Switzerland), Guangzhou Mingbo Anti-Forgery Technology Co., Ltd (China), Microtrace, LLC (US), Naigai Ink Mfg. Co., Ltd (Japan), The Cronite Company (US), Chromatic Technologies Inc (US), Gleitsmann Security Inks GmbH (Germany), Kao Collins Corporation (US), and Chroma Inks (US). MRFR registered these companies for a better analysis and profiled them to understand trends in the market that can have some impact on the global market.
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