Security Inks Market

Security Inks Market

Security Inks Market was valued at USD 3.2 billion in 2022 and is projected to reach USD 3.9 billion by 2027, growing at a cagr 4.1% from 2022 to 2027. The reprinting of banknotes is a continuous process to ensure proper circulation. This is the main driving factor for the market. On the other hand, factors such as stringent government regulations and digitalization hinder the growth of the market.

Global Security Inks Market Trends

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Security Inks Market Dynamics

DRIVER: Need for security inks for consumer safety

Security inks offer consumers and manufacturers greater confidence by protecting them from theft or product tampering. Governments can fight counterfeiting and fraud by incorporating security inks into currency, official travel documents, and labels and tax stamps. These inks provide different security features with a range of applications. They are widely used for industrial printing on porous and many non-porous substrates for documents, tax stamps, anti-counterfeiting of designer products, consumer goods, etc. The need for printing with invisible and fluorescent inks (types of security inks) to prevent fraud and conform with regulations for consumer safety is driving increasing interest in these inks.

RESTRAINT: Growth in digitization

The security inks industry acts as a restraining factor from digitization and technological convergence of content. The compelling reason for technological convergence is the speedy digitization of all types of content and converting content into computer-readable digital code. The catalyst for the transformation toward a digital age is likely to come from governments, consumers, and businesses. From 2022 to 2026, governments and businesses will continue investing in new digital technologies, accelerating the trend toward fully digital societies and also adopting greater digitalization in many types of security documentation. Hence, growing digitization and technological convergence can be considered restraints for the security inks market. However, these factors may also generate new opportunities for security printing organizations to invest in new product developments to overcome the threat.

OPPORTUNITIES: Increased identity theft

An increase in the number of identity thefts acts as a significant market opportunity for security inks. Fraudsters use forged documents for illegal purposes such as trafficking commodities and migrants, human smuggling across borders illegally, committing violent crimes, extremism, and terrorist acts, and getting privileges and money. Scammers use another personality to evade economic duties and responsibilities and commit illicit crimes without being held accountable and by transferring blame to the genuine person. This complex problem of identity fraud is continuously growing.

CHALLENGES: Stringent environmental regulations in North American and European countries

Europe and North America are strictly regulated by environmental laws regarding the production of chemical and petro-based products. This is affecting the production capacities of manufacturers in Europe and North America. Solvents used in the printing industry are frequently not or only partially retrieved from exhaust air streams generated by dryer systems. Hence, vapors from solvents pollute the air in printing buildings as well as outside. High-boiling mineral oils, glycol ethers, and other solvents often used in embossed steel dye printing are considered harmful to human health. As a result, regulations act as a major restraint to the overall growth of the market.

Security labels is the fastest growing application segment of the security inks market in 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, in terms of both value and volume. Manufacturers of security labels are expanding their operational capacities and investing heavily in advanced technologies to provide the best products to brands for the protection of actual products from counterfeit ones, which, in turn, provides a much-needed boost to the global security labels market's expansion.

Asia Pacific is expected to be the largest regional market during the forecast period.

The Asia Pacific market is expected to be the largest regional segment for the security ink market due to increasing cases of forgery and counterfeiting. According to research by PwC on fraud in 2018 which focused on Vietnam and discovered that 51% of the 7,000 respondents in 123 areas had experienced economic fraud in the previous two years. Moreover, the Government of India declared demonetization without warning, which has raised the need for security inks in this region.

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The security inks market is dominated by a few globally established players such as SICPA Holding SA (Switzerland), DIC Corporation (Sun Chemical) (Japan), Kao Collins Corporation (US), Chromatic Technologies Inc. (US), Ink Tec Inc. (US), among others.

Security Inks Market Report Scope

This research report categorizes the security inks market based on Type, Printing Method, Application, and Region.

By Type:

• Invisible
• Biometric
• Fluorescent
• Thermochromic
• Optically Variable
• Magnetic
• Reactive
• Erasable
• Infrared
• Others

By Printing Method:

• Offset
• Intaglio
• Flexographic
• Silk Screen
• Letterpress
• Others

By Application:

• Banknotes
• Tax Banderoles
• Security Labels
• Official Identity Documents
• Others

By Region:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

Recent Developments

• In December 2022, Fujifilm has entered into an asset purchase agreement with Inspirata, Inc. to acquire the company's Digital Pathology Business.
• In July 2022, DIC corporation acquired Guangdong TOD New Materials Co., Ltd. Coating and resin business. This acquisition will help DIC to expand its Asian market coating resins capacity, focused particularly on China—the world's largest coating resins market. 
• In June 2022, SICPA Morocco inaugurated today its new regional coding centre for highly secure tax stamps in the industrial zone of Sidi Bernoussi in Casablanca.

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