Market Synopsis
Market Research Future (MRFR), in its latest report on the global microprinting market 2020 discuss numerous factors that are likely to support the market. A detail analysis report of the influence of COVID 19 on the microprinting market is also provided. MRFR finding reveal that the microprinting market can rise at 5.91% CAGR across the forecast period. On the conclusion of the assessment period, the microprinting market value can escalate from USD 541.2 million to USD 751.8 million. The growing adoption of security solutions by different sectors to prevent the rise in cases of fraudulent activities, such as forging of currencies, documents, and cheques is creating the need for the adoption of microprinting solutions. This is expected to promote the expansion of the microprinting market through the assessment period.
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Market Segmentation
The segment analysis of the microprinting market is based on ink type, substrata type, and application.
The ink type based segments of the microprinting market are special inks, micro-embossing, magnetic inks, infrared ink marking, UV invisible inks, and others. The magnetic ink segment can generate considerably high revenue for the market across the analysis years. The rise in use of microprinting in the banking and finance industry to prevent counterfeiting can prompt the expansion of the market though the study period. The micro-embossing segment market can thrive at the highest CAGR in the forecast period.
The substrate type based segments of the microprinting market are paper, metal, and plastic. The paper segment can contribute largely to the microprinting market growth in the assessment period. The increase in the application of microprinting in cheques and currencies by banks can also support the expansion of the market through the analysis period. The plastic segment can rise at a high pace in the forecast period.
The application based segments of the microprinting market are education, healthcare, packaging, BFSI, government, consumer electronics, corporate, defense, and others. The banking and finance sector can thrive in the review period.
Detailed Regional analysis
In APAC, the rise popularity of the fineness of microprinting is extremely high, which cannot be read with the naked eye can boost the expansion of the regional. Confidential corporate or government documents are micro printed, so as to avoid counterfeiting. The well-known application of microprinting is in currency that demands the highest level of counterfeiting deterrence. These factors can promote the expansion of the regional microprinting market across the review period. In addition, the rise in the application of microprinting in miniaturized electronic components, wires and cables, and high-end personal care products to achieve product traceability can prompt the expansion of APAC microprinting market across the review period.
In North America, the high government standards and tight norms for currency and certificates are fuel the rise of the microprinting market in the review period. Furthermore, innovations in microprinting techniques that are cost-effective and have improved applications can boost the expansion of the market in the region. Similar growth factors observed in EU. The gradual increase in the use of microprinting in numerous industry verticals can boost the rise of the microprinting market in EU.
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Key players
Saueressig GmbH Co KG (Germany), Ricoh Company Ltd. (Japan), Videojet Technologies, Inc. (US), Xerox Corporation (US), Domino Printing Sciences PLC (UK), Matica Technologies AG (Germany), Team NiSCA (US), Diagramm Halbach GMBH (Germany), Hewlett-Packard Company (US), Brady Corporation (US), Control Print Ltd. (India), Gallas Label Decal (US), Printegra (US), SAFEChecks (US), Source Technologies (US), and Data Carte Concepts (Canada) are some prominent microprinting dealers in the market, listed by MRFR.
