Market Trends of Security Printing Industry
Banknotes Holds the Significant Share in The Market
- More robust options, such as pure paper, polymer substrates and polymers composite or premium paints and varnishes are being adopted by a majority of central banks. Although it is more expensive, due to their longer life and increased resistance to folding, soiling and microbes, changing to a polymer can result in significant cost savings for issuing authorities.
- A additional key factor in the Bank's decision to modernise banknotes was an increase of local and global counterfeiting of polymers. The substrate of most banknotes is paper, which is often made from cotton fibres for strength and durability. Some papers are made from linen, specialized colored or forged threads added to enhance their uniqueness and protect them against copying.
- The growing need for a fight against fake banknotes has led to an increased use of security paper in cash and banknotes. As a feature of the protection of money, threads or fibres, holograms and markings are often used. In banknotes, the watermark is mainly used because it is easy for the public to recognise, and it provides protection against scanners, chemical, mechanical, and reproduction attempts. Furthermore, security fibers and a watermark are used to protect color photocopying.
- According toReserve Bank of India, In financial year 2023, there were banknotes worth more than 34.4 trillion rupees (403.17 USD Billion) in circulation across the south Asian country of India. As of November 2016, India discontinued the circulation of 1,000 rupee banknotes and introduced 2,000 rupee banknotes instead.
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Asia-Pacific to Account for Significant Market Growth
- Increasing developments by major countries, including Japan, Saudi Arabia, and India, in currency production and improved detection of counterfeit security papers are expected to propel security printing market growth over the forecast period.
- Furthermore, increasing counterfeiting and forgery operations in the Asia-Pacific, such as false currency, corruption, and terrorist funding, contributed to expanding the region's requirement for protecting paper printing. Moreover, the increased demand for papers such as passports, ID cards, and bank credentials, coupled with the expanding population, provides several development prospects for market participants.
- The increasing adoption of RFID-based solutions is expected to develop an ecosystem highly favorable for the growth of the studied market.
- The adoption of an array of techniques aimed at combating forgery-such as photo integration, barcoding, biometric identifiers, reversed out text, fluorescent serial numbers, embossing stamps, iFADO (intranet False and Authentic Documents Online), gravure print, and ink stamp-is poised to drive market expansion throughout region
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