Microprinting Market Analysis

Microprinting Market Analysis

Plastic-based microprinting market will showcase growth of around 7% through 2025, owing to rise in usage of the substrate type in banknotes. The substrate provides features such as longevity, strength, resilience, flexibility, elasticity, and durability. Using the technique, a small transparent window can be included as a security feature on the plastic-based printing material, making it difficult to counterfeit the currency using common methods. Several countries such as Mexico, New Zealand, UK, Chile, Israel, Singapore and Australia, are printing plastic-based banknotes, as it reduces the wear and tear.
 

The single-sided printing segment is poised to observe substantial growth during the forecast timeframe due to its growing implementation on ID cards, medical prescriptions, business cards, and other financial documents. Demand for the print type is increasingly being witnessed from the government, education, and corporate sectors. Moreover, the packaging industry is implementing this print technique to prevent duplicity among products. Rise in demand for secure technology has led companies to offer innovative single sided based microprinting products.
 

Healthcare applications accounted for more than 10% of the microprinting market share in 2018 impelled by the increasing demand of the technique to authenticate several medical products and prescriptions. The counterfeit or falsely labelled medical products pose significant risks for public health.
 

The pharmaceutical companies and healthcare providers are focusing on implementing innovative anti-counterfeiting technologies for better business practices. Growing standards and regulations in healthcare sector for product usage, specifications and its composition is also accelerating the adoption of technology. Several companies are providing specialized solutions to healthcare industries to increase efficiency and compliance with regulations.
 

Growing adoption of monochrome print technique in several application segments on account of its low price point and excellent printing quality is being witnessed in the market. The retail, government, education, corporate and publishing sectors are registering high adoption of monochrome printing led by its several benefits such as faster printing speed, lower cost per printed page, and superior text quality.
 

Increasing usage of monochrome printing for packaging and labelling of online orders in e-commerce sector will boost the market revenue. The monochrome printing will witness high adoption from e-commerce giants such as Amazon Inc., Alibaba Group, Walmart and eBay in the coming years. These companies are focusing on incorporating digital technology in the labelling of products as it helps them track the packages in the delivery chain.
 

 The Asia Pacific microprinting market held over 30% revenue share in 2018 driven by the increase in adoption of the technology in various industry verticals including banking and finance, government agencies, and corporate organizations. The demand for security and anti-counterfeit solutions is expected to increase in education, corporate and government sectors, thereby propelling the regional market growth.
 

The rise in development of business sectors and economic expansion plans by government organizations is expected to accelerate the market size expansion in countries such as India, Japan, and China. The regulatory bodies are focusing on introducing additional security features in the existing bank notes.