Security Ink Market Size, Share, Growth, and Industry Analysis, By Type (Offset Inks, Intaglio Inks, Silkscreen Inks, Letterpress Inks and Others), By Application (Security Labels, Official Identity Documents, Tax Banderoles, Banknotes and others) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

SECURITY INK MARKET REPORT OVERVIEW

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The global security ink market size was USD 2715 million in 2020 and the market is projected to touch USD 3872.6 million by 2027, exhibiting a CAGR of 4.9% during the forecast period.

Security ink is a special material that helps maintain the integrity of sensitive and important documents such as banknotes, checks, passports, ID cards, certificates, and other personal documents. Ensuring the authentication of documents and detect fraud by providing measures that minimize the risk of forgery, tampering, and counterfeiting. Most often, security inks are used on paper, but in some situations they can also be used on plastic materials. Under normal conditions, ink is invisible to the naked eye and requires additional assistance, such as the support of ultraviolet (UV) light or other specific technologies, to see it. There are many different types of security inks available on the commercial market, and each type has specific benefits. For instance, the visible fluorescent inks can be used with traditional inks, and fluorescent inks glow when exposed to ultraviolet light. This is an important note to distinguish between genuine and fake documents. Similarly, all other types of security inks have specific features that separate the ink from compromised documents, helping authorities curb counterfeiting.

COVID-19 Impact: Decreased Manufacturing Activities and Trend of E-Commerce in the Phase of COVID-19 Depleted the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Industries have seen a decrease in industrial activity as a result of lockdowns, limitations, and safety precautions implemented to stop the virus's spread. This may have had an impact on security ink manufacturing, resulting in reduced productivity and possible delays. A variety of industries, including printing, packaging, and the creation of security documents, employ security inks. It's possible that the pandemic's economic slump decreased demand from these industries, which would have had an impact on the market as a whole. The need for security inks in specific applications, such as packaging for e-commerce, may have been impacted by changes in consumer behavior during the epidemic, such as an increase in online purchasing and a drop in in-person transactions.

LATEST TRENDS

"Rise in Development of Advanced Security Ink to Multiply Growth Opportunities and Raise the Market Shares"

The creation of increasingly sophisticated and effective security inks has been sparked by the growth in terrorist assaults, identity theft, and document forgeries used for illegal immigration and human trafficking. A company in the security ink market with headquarters in Hong Kong, NanoMatriX, introduced MatriX-Intaglio, a high-security ink, in April 2023. The product is aimed at new inks used in the printing industry and by the government. It is difficult to copy and transparent to infrared light. It also has a luminous ink characteristic, which strengthens the layer of defense. However, a new security ink that can identify counterfeit items, currency, and medications was created by an Indian scientist in October 2021, expanding the product's potential uses.

SECURITY INK MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into offset inks, intaglio inks, silkscreen inks, letterpress inks and others.

• Offset Inks: A common printing technique is offset printing, which calls for the employment of certain security inks. To improve document security, these inks could have characteristics like UV fluorescence, infrared absorption, or color-shifting capabilities.

• Intaglio Inks: These inks are specifically made for use in the process of engraving or etching an image into a plate, which is known as intaglio printing. Unique chemical compositions or characteristics, including optically changeable pigments for increased security, are possible for etching inks.

• Silkscreen Inks: A flexible method utilized for many purposes is silkscreen printing. Features like microprinting, thermochromic or photochromic components, and other covert or overt security features are frequently used in security inks for silkscreen printing.

• Letterpress Inks: Raised surfaces are used in letterpress printing to transfer ink to the substrate. To make counterfeiting more difficult, security inks for letterpress printing may include unique taggants, color-shifting capabilities, or other characteristics.

• Others: UV inks have been designed to be seen solely in ultraviolet light. To generate pieces that are visible only to people with access to UV light sources, they are frequently employed in conjunction with other security measures. The purpose of infrared inks is to either reflect or absorb infrared light. Although these inks are invisible in ambient light, they may be found using infrared scanners, adding an extra degree of protection.

By Application

Based on application the global market can be categorized into security labels, official identity documents, tax banderoles, banknotes and others.

• Security Labels: Holographic inks, color-shifting inks, and other subtle or obvious properties are frequently used in security labels to guarantee the legitimacy of the goods they identify. Counterfeiters may find it difficult to copy these inks due to their distinct qualities that become obvious under particular circumstances.

• Official Identity papers: Passports, national ID cards, driver's licenses, and visas are examples of official identity papers in which security inks are essential. To improve document security, these inks may have properties including microprinting, optically changeable inks, and UV-visible inks.

• Tax Banderoles: Particularized security inks are frequently employed in tax banderoles, which are intended to authenticate and seal certain goods for tax purposes. To prove the legitimacy of taxable items, these inks may include characteristics like color-shifting effects, tamper-evident qualities, or distinctive identifiers.

• Banknotes: Security inks are essential to the creation of banknotes, which are extremely vulnerable to counterfeiting. To guarantee the integrity of the money, banknote security inks may incorporate a variety of characteristics including color-shifting inks, watermarks, holographic components, and security threads.

• Others: Diplomas, certificates, and other academic or professional papers are printed using security inks. These inks might be equipped with characteristics like thermochromic qualities, UV fluorescence, or microtext to stop unwanted duplication of such significant credentials. Product packaging is coated with security inks to prevent counterfeiting and shield customers from phony or inferior products. Packaging may have elements that may be checked using specialized instruments, such as holographic inks, invisible inks, or QR codes. Security inks can be used on legal papers, delicate contracts, and private documentation to stop modifications or forgeries. For increased security, these inks could have components like chemical taggants, microprinting, or specialty colorants.

DRIVING FACTORS

"Rising Cases of Bank Related Fraudulent Activities to Brace Up the Market Growth"

The rise in incidents of bank-related fraud, particularly those involving the use of counterfeit currency, is predicted to fuel growth in the worldwide security ink industry. The global economy is severely harmed by transactions using counterfeit currency. The victims of such transactions suffer grave emotional and psychological consequences in addition to the impact on national revenue. Every national government has started aggressive programs and measures to stop the creation and distribution of counterfeit bank notes in an effort to stop these detrimental occurrences. This has increased demand for security inks, which are recognized for providing the highest caliber of protection against forgeries.

"Increasing Demand for Authentic Passport Protection to Intensify the Market Growth"

Regional passports are necessary identification for all citizens. There is a greater need than ever to discern between real and false passports due to the rise in worldwide travel, with millions of individuals visiting new places every day. One of the most often falsified identification papers is the British passport; in 2022, instances using forged documents accounted for nearly half of all cases. In light of the growing number of terrorist acts, effective security inks are expected to see increased demand as boundaries across international borders become more restrictive.

RESTRAINING FACTOR

"Digitalized Modern Techniques of Verifying the Documents to Act as Barriers in the Market Growth"

The rise in investments in contemporary and digital document verification procedures may restrain the expansion of the worldwide security ink market. In order to protect paper integrity and minimize the possibility of forgery, an increasing number of nations and organizations handling private papers are implementing cutting-edge technology. As an instance, the newest methods of protecting sensitive information and documents are smart contracts. Digitally produced code powers its operations, and transactions are impossible without valid authentication. For several business facilities, this technique removed the need for security ink and thus retarding the security ink market growth.

SECURITY INK MARKET REGIONAL INSIGHTS

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"Asia Pacific with with Higher Adoption and Several Protection layers on Private Documents  to Dominate the Market Share"

The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Globally the security ink market share is projected to witness the highest growth rate in Asia-Pacific region with the higher adoption of security inks as a protection layer on several confidential and private documents. Asian nations have seen a sharp increase in banknote fraud in recent years, driving central banks and governments to take effective action to stop these incidents. The Indian economy is seeing increased demand for security inks as a result of the government's recent demonetization. Players in the regional industry are experimenting with new security inks to fulfill the difficult demand in Asian areas for document forgeries.

KEY INDUSTRY PLAYERS

"Notable Market Players Shaping the Market and Contributing in the Market Expansion"

Due to their significant market influence, major market players are essential for understanding consumer preferences and industry dynamics. Because of these big companies' extensive retail networks and online platforms, customers may easily browse through an enormous variety of clothing selections. Due to their strong global presence and well-known brand, which have also strengthened customer loyalty and confidence, product adoption has increased. 

List of Market Players Profiled

• SICPA (Switzerland)
• Sun Chemical (U.S.)
• Microtrace
• CTI (U.S.)
• Gleitsmann Security Inks (Germany)
• Petrel (U.K.)
• Kao Collins (U.S.)
• Cronite (Switzerland)
• Godo (Spain)

INDUSTRIAL DEVELOPMENT

• April 2021: Citi stated that it will be discontinuing its consumer banking activities in thirteen markets: Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam, among others.

REPORT COVERAGE

The research provides forecasts for future market expansion in addition to a comprehensive SWOT analysis. It examines a wide range of market classifications, potential uses, and important factors that fuel the market's expansion in order to determine how the industry develops over the next several years. By considering both historical turning points and current trends, the research offers a thorough picture of the market's components and highlights potential growth prospects.