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The Global Microprinting Market size is expected to reach $1 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period
Microprinting is an anti-counterfeit technique of printing words and numbers on bank checks, currency, stamps, and other valuable items for security purposes. Microprinting is generally invisible to the naked eye and is placed in an inconspicuous area of the product.
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Microprinting Market Size, Share & Industry Trends Analysis Report By Type, By Ink Type, By Application, By Substrate Type, By Print Type, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412061/?utm_source=GNW
Documents with microprinted characters cannot be copied, as when they are printed, they are displayed in the form of dots or lines.
Microprinting is primarily utilized in the currency printing as it requires the highest level of security to protect it from counterfeiting. It is also used on miniaturized electronic components, wires & cables, and high-end personal care products, which need product traceability. Microprinting is also being utilized for a considerable scope in the associations across a few industry verticals. Significant factors like the presentation of inventive items, guidelines in the financial area, expanding interest of hostiles to duplicate products, and the extending web-based business area, are expected to see significant development.
Similarly, the increasing research projects in education institutions globally are also aiding to improve the extent of microprinting and give future opportunities for significant parts in the commercial sector. Furthermore, the developing usage of microprinting in monetary standards and stamps drives the market globally. Governments and corporate associations have recently received the microprinting strategy for licenses and personality cards to control their abuse and forestall deceitful exercises. This has substantially increased the development of the micro-printing market.
COVID-19 Impact Analysis
The economy of the entire world was crippled due the spread of the COVID-19, as nearly all the affected countries imposed lockdowns and strict social distancing measures. The pandemic was responsible for changing common systems around the world. The disruption in the supply chain stopped the e-commerce industry, which is one of the largest users of micro-printing. Also, the manufacturing of the consumer electronics has been curtailed in a number of nations, especially in China, which is considered as world’s largest producer. The overall microprinting market was negatively impacted by these elements.
Market Growth Factors
The Rising Utilization of Security Printing
Security printing is that field of the printing industry that deals with printing items like bank notes, passports, cheques, temper-evident labels, security tapes, product authentications, identity cards, and postage stamps. The primary goal of security printing is to prevent forgery, counterfeiting, and tampering. Recently, many techniques used to protect these high-value documents have become available to commercial printers. Businesses are protecting their not-so-valuable documents like coupons, transcripts, and prescription pads by using features that ensure no alteration and duplication.
Growing Utilization in the Textile Industry
The textile industry has been open to better, newer, and more sophisticated printing technology, and microprinting has found its utilization in the textile industry. Nano-graphy is one of the techniques that are highly being used by the apparel industry, nowadays. Nanography includes the utilization of tiny water-based color particles which are as small as tens of nanometers in size. These particles stick themselves to almost any surface, including fabric, and that too without completely immersing themselves into it, i.e., they remain on the surface level.
Market Restraining Factors
Rising Digitalization Restricting Microprinting Usage
The increased digitalization has influenced various business activities and companies’ business, including the Microprinting market. Digitalization has enabled enterprises to build new product and service offerings as well as company’s relationships with employees & customers. At the same time, digitalization has put pressure on companies to change their current strategies with aim to adapt to the changes due to digitalization. This has significantly affected the printing and microprinting markets.
Type Outlook
On the basis of type, the microprinting market is divided into monochrome and color. The color segment registered a significant revenue share in the microprinting market in 2021. The segment’s growth is attributed to the rising demand for color microprinted documents for numerous end-use industries, including corporate, banking & financing, packaging, education, and healthcare. Furthermore, various banks provide microprinted colored statements to differentiate between multiple information aspects.
Ink Type Outlook
By ink type, the microprinting market is classified into micro-Embossing, special inks, magnetic inks, UV invisible inks and infrared ink markings. The magnetic inks segment dominated the microprinting market with largest revenue share in 2021. Their usage in security services which require digital and technological enhancements to decrease fraud in banking activities like transaction processes etc., is the key factor resulting in the segment’s growth. Bank-issued cards, credit cards, and bonds use magnetic inks so that the cash dispensing machines can read them.
Application Outlook
On the basis of application, the microprinting market segmented into currency & bank checks, labels, ID & payment cards, stamps & documents and others. The currency & bank cheque segment registered a considerable growth rate in the microprinting market in 2021. This is due to the growing concerns about the counterfeiting of currency which have forced legal tender enforcers globally to raise their respective currency’s security features.
Print Type Outlook
Based on the print type, the microprinting market is bifurcated into Single-sided and Double-sided. The single-sided segment held the highest revenue share in the microprinting market in 2021. This is because of the usage of single-sided printing in the government sector for official documents, ID cards, and postal stamps. To prevent duplication of products, the packaging industry is also utilizing this technology in label wrapping.
Substrate Type Outlook
Based on the substrate type, the microprinting market is segmented into plastic, paper and metal. The metal segment recorded a considerable growth rate in the microprinting market in 2021. This is due to the rising usage of microprinting on electronic components by various vital manufacturers. In addition, these electric producers are facing a significant demand growth to print various code contents on the elements within a limited space.
Vertical Outlook
By vertical, the microprinting market is classified into BFSI, government, consumer electronics, healthcare, education, IT & telecom, packaging and others. The BFSI segment led the microprinting market by generating highest revenue share in 2021. This is because of the usage of microprinting in the various fields by the BFSI. For instance, bank stamps, bonds, checks, currencies, banking documents, and employee IDs, usually are printed by using microprinting. It is being used to eliminate the risk of copying of the monetary forms & check, and BFSI being one of the largest issuers of such business documents.
Regional Outlook
Region-wise, the microprinting market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated the largest revenue share in the microprinting market in 2021. This is due to the rising demand for packaged food & beverages in North American nations. There is also an increase in the need for microprinting in packaging industry’s products which will aid in the growth of the microprinting sector. Also, there is an increase in counterfeit currency which will further enhance the utilization of the microprinting market in the North America region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hewlett-Packard enterprise Company (HP Development Company L.P.), Canon, Inc., Videojet Technologies, Inc. (Danaher Corporation), Zebra Technologies Corporation, Xerox Corporation, Ricoh Company, Ltd, Brady Corporation, Xeikon N.V., Hubergroup Deutschland GmbH, Matica Technologies group S.A.
Scope of the Study
Market Segments covered in the Report:
By Type
• Monochrome
• Color
By Ink Type
• Magnetic Inks
• UV Invisible Inks
• Infrared Ink Markings
• Micro-Embossing
• Special Inks
By Application
• Labels
• Currency & Bank Cheque
• Stamps & Documents
• ID & Payment Cards
• Others
By Substrate Type
• Paper
• Plastic
• Metal
By Print Type
• Single-sided
• Double-sided
By Vertical
• BFSI
• Packaging
• Government
• Education
• Consumer Electronics
• Healthcare
• IT & Telecom
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Hewlett-Packard enterprise Company (HP Development Company L.P.)
• Canon, Inc.
• Videojet Technologies, Inc. (Danaher Corporation)
• Zebra Technologies Corporation
• Xerox Corporation
• Ricoh Company, Ltd
• Brady Corporation
• Xeikon N.V.
• Hubergroup Deutschland GmbH
• Matica Technologies group S.A.
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412061/?utm_source=GNW
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