The global Security Printing Market was valued at $3.14 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. A significant number of companies are channeling investments into the research and development of advanced security technologies. Moreover, governments across both developed and developing nations are actively adopting and supporting these innovations to mitigate financial losses resulting from tampering and counterfeiting.

The increasing use of hybrid or security printing papers in currency production is expected to curb corruption, money laundering, and the counterfeiting of currency, establishing this as a rapidly expanding market. Security printing plays a crucial role in the creation of items requiring verification, such as banknotes, checks, identification cards, passports, stock certificates, and postal stamps. This involves a variety of methods, including intaglio printing, holography, specialized paper, microprint, security threads, copy detection features, anti-magnetic inks, watermarks, and serial numbers.

Detailed Segmentation:

Printing Type Insights

Based on printing type, the security printing market is segmented into letterpress printing, screen printing, digital printing, intaglio printing, lithographic printing, and others. In 2022, the lithographic printing segment held the largest revenue share of more than 32% and is expected to exhibit a CAGR of nearly 5.6% from 2023 to 2030. Lithographic printing is the most popular and used method in all spheres of printing production.

Application Insights

Based on application, the industry has been segmented into cheques, bank notes, legal and government documents, certificates, personal IDs, and others. In 2022, the personal ID application segment held the largest revenue share of more than 22% and is expected to exhibit a CAGR of nearly 8.1% from 2023 to 2030.

Regional Insights

Asia Pacific is projected to witness remarkable growth, expanding at the highest CAGR over the forecast period owing to the adoption of advanced technology related to security printing in countries like India, China, and Japan. Increasing concerns over corruption, fake currency, and terror funding will surge the market in the countries. Factors such as alternative modes of payment (including bank checks and payment cards) and large-scale ID programs initiated by enterprises are projected to boost the market in the region.

Gather more insights about the market drivers, restraints, and growth of the Security Printing Market

Key Companies & Market Share Insights

The market is fragmented with the presence of several security printing service providers. The players adopt strategies such as partnerships & collaborations, product launches, and mergers & acquisitions to gain a competitive edge. For instance, in October 2021, TROY Group, Inc. formed a strategic partnership with Loffler Companies, a print solutions provider, to enhance its MICR (Magnetic Ink Character Recognition) print program.

Some prominent players in the global security printing market include:

Agfa-Gevaert Group

Amgraf, Inc.

GRAPHIC SECURITY SYSTEMS CORPORATION

Ennis, Inc.

The Flesh Company

TROY Group, Inc.

Wellspring Software, Inc.

CETIS d.d.