Chicago, Sept. 22, 2023 (GLOBE NEWSWIRE) -- The Global Security Inks Market is projected to grow from USD 3.2 billion in 2022 to USD 3.9 billion by 2027, at a CAGR of 4.1% from 2022 to 2027. as per the recent study by MarketsandMarkets™. Security inks are used as an added security feature for the protection of printed documents, labels or packaging against fraudulent reproduction or counterfeiting. There are many different types of security inks used for this purpose depending on the application, environment, and required level of security.
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140 - Market Data Tables
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List of Key Players in Security Inks Market:
- SICPA Holding SA (Switzerland)
- DIC Corporation (Sun Chemical) (Japan)
- Kao Collins Corporation (US)
- Chromatic Technologies Inc. (US)
- Ink Tec Inc. (US)
Drivers, Restraints, Opportunities and Challenges in Security Inks Market:
- Drivers: Need for security inks for consumer safety.
- Restraints: Growth in digitization.
- Opportunity: Increased identity theft.
- Challenges: Stringent environmental regulations in North American and European countries.
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Key Findings of the Study:
- Security labels is the fastest growing application segment of the security inks market in the forecast period.
- Asia Pacific is expected to be the largest regional market during the forecast period.
Security labels is the fastest growing segment in the applications of security inks market for the forecast period between 2022 and 2027. Security labels are a type of packaging products that are like stickers and are attached to the overall packaging to safeguard the contents of the package and reassure customers that they have not been tampered with. Due to their numerous protective and instructional features, these labels also guard against product theft from warehouses or retail locations. Readers of these security labels supply specific details on each piece of content, including its origin and contents. In contrast, if a product is being stolen, the devices installed at the entry and exit gates of many retail establishments scan the item and determine if the labels were removed at the cash register or not.
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Asia Pacific is the largest security inks market. This dominance is attributed to the presence of rapidly growing major economies. The demand for security inks is growing, especially in the Asia Pacific region. The market in the region is expected to witness a high growth rate in comparison to other regions. The demand is attributed to the rise in business, import-export, and new industry setups. Banknotes are the fastest-growing end-use applications in the security inks market.
North America is the second-largest market for security inks market mainly because the region is among the early adopters of different printing techniques in various manufacturing processes. This growth can be attributed to the increased spending on legal services such as documentation, litigation, and licensing. This factor, in turn, has boosted the market for legal documents in the region. The increasing instances of purchasing legal services are due to the growing awareness of consumers about legal thefts.
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