The global security inks market is projected to grow from USD 3.2 billion in 2022 and is projected to reach USD 3.9 billion by 2027, at a CAGR of 4.1%, between 2022 and 2027 period. The growth of the market in the Asia Pacific region can be attributed to rising income levels, infrastructure modernization, a large population base, and cultural connection to the use of hard cash.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=108766889
Asia Pacific is the largest security inks market. This dominance is attributed to the presence of rapidly growing major economies. The demand for security inks is growing, especially in the Asia Pacific region. The market in the region is expected to witness a high growth rate in comparison to other regions. The demand is attributed to the rise in business, import-export, and new industry setups. Banknotes are the fastest-growing end-use applications in the security inks market.
North America is the second-largest market for security inks market mainly because the region is among the early adopters of different printing techniques in various manufacturing processes. This growth can be attributed to the increased spending on legal services such as documentation, litigation, and licensing. This factor, in turn, has boosted the market for legal documents in the region. The increasing instances of purchasing legal services are due to the growing awareness of consumers about legal thefts.
Continuous developments in the security inks market are expected to help the market grow. The companies are providing products which will serve various applications. New product launches have also helped companies enhance their product portfolio.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=108766889
Security Inks Companies
The key players following the strategies between 2019 to 2022 are SICPA Holding SA (Switzerland), DIC Corporation (Sun Chemical) (Japan), Kao Collins Corporation (US), Chromatic Technologies Inc. (US), and Ink Tec Inc. (US). The companies are majorly following acquisition as the strategy to grow and expand the market.
SICPA Holding SA, Prilly, Switzerland, is the leading global supplier of security inks and solutions for the majority of the world’s banknotes, as well as a variety of other documents such as passports, transportation tickets, and plastic cards. The firm is divided into three divisions. Security solutions are provided by the SICPA Security Inks Division for banknotes, official ID papers such as ID cards, passports, and birth certificates, postal stamps, tax banderoles, product marks, and security labels. The Government Security Solutions Division of SICPA protects tax revenues for cigarettes, alcoholic beverages, medicines, and other heavily counterfeited items. SICPA has more than 33 offices worldwide. In September 2022, UbiQD, Inc. and SICPA have expanded their collaboration to create anti-counterfeit security inks based on UbiQD’s quantum dot technology.
DIC Corporation (Sun Chemical), the world’s largest ink maker, has over 170 subsidiaries, including Sun Chemical in North America and Europe. DIC Corporation has extensive knowledge of the graphic arts business. The company is active in packaging & graphics, color & display, and functional products. DIC corporation has a strong customer base and operates in various countries in Europe, North America, Asia Pacific, and South America. The company has a wide product portfolio which includes products such as Gravure, Flexo Inks, Metal decorative Inks, Security Inks, Jet Inks, Offset Inks, and News Inks. In June 2020, DIC corporation acquired Sensient Technologies Corporation jet ink business. This acquisition will add jet inks for textiles, an entirely new product group, to the DIC Group’s jet inks portfolio.
Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=108766889
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/security-inks-market-108766889.html