Market Size of Security Printing Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 34.54 Billion |
| Market Size (2029) | USD 42.04 Billion |
| CAGR (2024 - 2029) | 4.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Security Printing Market Analysis
The Security Printing Market size is estimated at USD 34.54 billion in 2024, and is expected to reach USD 42.04 billion by 2029, growing at a CAGR of 4.01% during the forecast period (2024-2029).
It is challenging for organisations to stay ahead of counterfeiters and forgers as technology becomes more advanced, accessible, and capable of doing so. Technological progress has made it easier to replicate even high quality duplicates of documents that are unsecured. Counterfeits are finding scanners with higher quality color copiers, printshop quality resolutions and even small printing presses more easily these days.
- These developments have also been adopted and supported by governments in many developed and developing economies, with a view to reducing economic losses due to fraud or counterfeiting.
- Furthermore, Law enforcement and security regulations are significant factors driving this market. High security materials and complete banknotes are obtained under false pretenses from the security printing industry in some cases of counterfeiting. It pointed out that the necessary steps to verify the nature of the orders with the relevant issuing authorities should be taken by banknote printing companies and security substrate producers.
- Polycarbonate offers excellent resistance to attacks, a wide range of security features for long life time, and is widely used for secure identification documents. The technology to enhance safety features is being improved by different players. In the future, it could be a reflection of trends.
- The growth of the security print industry over the forecast period may be hindered by transition towards a cashless economy, digitisation of identification cards and strict certification concerning secure paper.
- The security printing market has been shown to be significantly affected by the global outbreak of COVID19. In terms of the number of patients worldwide, Europe and Asia have been most affected. In addition, a surge in patient numbers has caused the pandemic's impact to become more pronounced in the US. Furthermore, the increasing commercial activity and resumption of office spaces are also expected to drive the demand for payment cards, which may further support the studied market's growth.
