Los Angeles, United State, September 19, 2019, - - The chemical and materials sector has been witnessing a significant rise in the past few years. The infrastructural growth and industrial boom across the world has had a positive impact on the chemical and materials industry. The increase in the chemical and materials sector has been mapped by QY Research through its detailed research reports. Taking into the account, the growth of the global safety printing ink market, QY Research has published its new report titled, “Global Safety Printing Ink Market Report, History and Forecast 2014-2025”. According to this report, the global safety printing ink market is predicted to be worth US$727 mn by 2025 from US$556 mn in 2018, registering a CAGR of 3.9% during the forecast period.
Booming Digitization and Technological Advancements to Thrive Safety Printing Ink Market
The global security printing ink market will expand at a rapid pace due to rising concerns regarding the authenticity of legal documents. These forms of inks are mainly used in government documents to keep a check on their authenticity. Security printing inks have been employed in printing stamp papers, checks, banknotes, identity cards, passports, gift vouchers, event tickets, and lottery tickets to maintain product authenticity. Increasing instances of counterfeiting and forgery practices are anticipated to drive the security printing ink market over the forecast period. Counterfeiting is growing at a staggering rate to produce illegal copies if fake documents, banknotes, tax stamps, and supply chains with altered goods and packaging. Therefore, companies are insisting on using security printing inks to maintain seamless operations.
In addition, security inks are compatible with numbering, magnetic inks, micro printing, intaglio printing, silk screen printing, and flexographic printing methods. Analysts are also trying to develop security inks that are invisible in UV light but ones that can be read with the help of fluorescence microplate reader. Moreover, increasing digitization and development of innovative products and technology with high-security features are expected to propel the market growth.
North America to Dominate the Global Security Printing Inks Market
North America is likely to dominate the security printing ink market due to the presence of various manufacturing units and high utilization of these inks in the region. Rising awareness about document security and growing awareness about means to avoid counterfeiting and forgery practices will also drive the market growth in this region. Asia Pacific is also expected to drive the market due to stringent government regulations in emerging economies.
Security Labels Segment will Lead the Market Growth
The global security printing ink market is segmented into two types, i.e., application and product type. The product type segment includes letterpress inks, offset inks, silkscreen inks intaglio inks, and others. The application segment includes banknotes, security labels, tax banderoles, official identity documents, and others. Security labels segment is gaining momentum, as it helps in the prevention of forgery and tampering of the aforementioned instruments.
Some of the major players operating in the global security printing ink market are Wancheng, SICPA, Godo, Sun Chemical, Pingwei, Microtrace, Jinpin, Gleitsmann Security Inks, Mingbo, Kao Collins, Cronite, CTI, Gans, ANY, Letong Ink, and Kodak. QY Research has done a detailed assessment of the competitive landscape of the leading manufacturers. Product differentiation along with risk assessment of backward and forward integration by companies to acquire an integral market share during the forecast period.
● North America will grab the largest market share in the global security printing ink market
● Growing instances of counterfeiting and forgery practices will propel the market growth
Full Report Overview@ https://www.qyresearch.com/index/detail/1138328/global-safety-printing-ink-market