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Microprinting Market size worth over $800mn by 2025
- Published Date: May 14, 2019
Microprinting Market size is set to surpass USD 800 million by 2025, according to a new research report by Global Market Insights Inc.
Increasing demand for anti-counterfeiting products in various application segments will drive the microprinting market growth. According to the Organization for Economic Co-operation and Development (OECD) and the EU’s Intellectual Property Office, the trade in counterfeit and pirated goods accounts for 3.3% of the global world trade. According to Germany-based Mechanical Engineering Industry Association (VDMA), the maximum number of counterfeits come from China, followed by Germany. This prevalence of plagiarism is forcing industries to implement security features to assure the authenticity of consumer product, and packages & logistics, resulting in high adoption of microprinting technology. The technology which prints characters and patterns invisible to the naked eye, has emerged as an affordable security solution for number of industry verticals.
The growing demand for cost-effective printing technology is further accelerating the microprinting market size expansion. The packaging industries require high-quality secured prints that can be used to identify and differentiate different packaged goods. The technique enables easy product identification and avoids product duplicity, which helps in improving the brand image of industries. In addition, the increasing adoption of microprinting solutions in passports, identity cards and other documents in various organizations is another major factor fuelling the market revenue.
The adoption of this printing technique is growing rapidly in the banking and financial services sector owing to the rise in counterfeiting of currencies and checks. According to Reserve Bank of Australia estimates, around 30,000 counterfeits are reported per year. The bank is incorporating innovative security features to secure currency from counterfeiting. For instance, in February 2019, Reserve Bank of Australia released an AUD20 banknote with a rolling-color effect and microprint features to improve security and ease of identification. The industry is adopting this technology for various banking documents such as check slips, currency/banknotes, financial or payment cards and ID cards, among others.
Browse key industry insights spread across 180 pages with 209 market data tables & 27 figures & charts from the report, “Microprinting Market Size By Substrate Type (Plastic, Paper, Metal), By Print Type (Single-Sided, Double Sided), By Product Type (Monochrome, Color), By End-Use (Banking & Finance, Corporate, Government, Healthcare, Packaging), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/microprinting-market
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Microprinting technique is experiencing high adoption in various packaging applications. China is a major market due to the rapid growth of e-commerce and development in manufacturing consumer electronics in the country. The country exports large number of consumer electronics products globally. The growing ecommerce sector is forcing industries to implement proper packaging and identification features for preventing counterfeiting.
North America microprinting market is expected to witness around 4% growth rate till 2025. The technique is being used in corporate and government sectors for printing employee identification cards and licenses as a security measure. The availability of affordable scanning and printing solutions has led to an increase in counterfeiting of the USD. For instance, in January 2018, the U.S. Department of the Treasury reported around USD 70 million fake currency floating across the country; 75% of the counterfeited currency consisted of USD 100 bank notes. This has led the government to incorporate the technique in the currency notes to prevent counterfeiting activities. The introduction of USD 100 currency notes with microprinting features will help in improving the authenticity and security of the currency notes by making it impossible to replicate.
Major companies operating in the microprinting market are Zebra Technologies Corporation, Xerox Corporation, Wuhan Willita Marking and Packing Technology Co., Ltd., Videojet Technologies, Inc., Source Technologies, Micro Printing Systems Intl., Matica Technologies AG , Linx Printing Technologies, InkJet, Inc., Hewlett-Packard Company, Evolis, Control Print, Ltd. , and Canon Finetech Nisca, Inc., among others. These players are engaged in manufacturing printing solutions that help in protecting sensitive documents from unauthorized duplication. They are implementing advanced and high-quality features in providing in-line printing, coding, and marking products.