Security Ink Market Size and Growth Rate:
The Global Security Ink Market Size was valued at USD 620 million in 2017 and expected to reach USD 860 million by 2025 growing at a CAGR of 4.2% during the forecast period 2018 to 2025.
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Security Ink Market Overview:
The global Security Ink Market is projected to display a robust increase in the next couple of years, owing to the rise in the applications and expansion of the scope across the globe. Security ink is a type of ink that is extensively implemented to safeguard and verify crucial documents.
The worldwide factor driving the growth of the global security ink market is increasing occurrences of forgery and counterfeiting practices. Counterfeiting practices are proliferating in identity cards, postage stamps, banknotes, stock certificates, passports, and product authentication. Security ink printing helps in prevention of meddling and falsification, leading to the protection of information or access, which in turn is projected to drive the growth of the global market.
Security Ink Market Growth Drivers and Restraints:
Growth of banking and financial sector across the globe is also increasing the demand for security inks, thereby supporting the growth of the market. Banking sector hugely demands security printing for protecting documents, controlling authenticity, maintaining the originality of documents, defending credibility, etc. Furthermore, increasing corporate fraudulent activities have also resulted in the adoption of security measures by various companies. One of the primary measures is security printing, where security ink forms a quintessential part, which in turn is driving the growth of the global market.
Security ink can itself be counterfeited and can be passed on as original or official document. Such intimidations could be the cause of massive damage in the related organizations. Therefore, alternative approaches, other than the use of security or invisible inks could be more preferred, which restricts adoption of security ink, and in turn, could affect demand and hamper the growth of the world market to a certain extent.
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Security Ink Market Geographical Segmentation:
Geographically, the security ink market is experiencing robust growth in the North American region and at the same time accounting for the largest share in terms of revenue. The major factors that can be attributed to this regional market growth may include the existence of a wide range of manufacturing units, rise in the adoption rates, and mounting investments by the leading companies.
The United States has been recognized as the major contributor in market growth. On the other hand, Europe is also gradually displaying a huge growth and is likely to expand in the forthcoming years. As far as the growth in the Asia Pacific region is concerned, it is mounting due to the rules and norms implemented by numerous countries.
Keyplayers of Security Ink Market:
Some of the key players operating in the security ink market cover Villager Security Solutions AG, Letong Ink, Hologramas de Mexico, Luminescence, Gleitsmann Security Inks, Kao Collins Inc., Ink Tec Inc., and Sun Chemical.
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