Security Printing Market: By Printing Type (Screen Printing, Letterpress Printing, Digital Printing, Lithographic Printing, Intaglio Printing, and Others),By  Security Feature (Watermarks, Holograms, Hybrid Paper, Color Pigments, and Microprinting), By Application (Personal ID, Tickets, Cheques, Legal & Government Documents, Certificates, and Others), By End User Industry (Banking & Finance, Government, Commercial, Aerospace and Transportation, and Others) and Geography

The security printing market was valued at USD 4,390.3 million in 2023 and is growing at a CAGR of 7.9%. The security printing market is expected to witness steady growth in the coming years, driven by factors such as rising counterfeiting activities, increasing demand for secure government documents, and growing adoption of advanced security features. The COVID-19 pandemic hurt the security printing market in the short term. The lockdowns and travel restrictions that were put in place in many countries led to a decrease in the demand for security documents such as passports and visas. However, the long-term impact of COVID-19 on the security printing market is expected to be positive. The pandemic has highlighted the importance of secure documents and identity verification. This is likely to lead to an increase in the demand for security printing services in the coming years. Counterfeiting is a major threat to governments and businesses alike. It can lead to economic losses, brand damage, and even safety hazards.

As a result, there is a growing demand for secure documents that are difficult to counterfeit. Governments around the world are issuing an increasing number of secure documents, such as passports, identity cards, and birth certificates. Security printers are constantly developing new and innovative security features to make it more difficult to counterfeit documents. These features include holograms, microprinting, and watermarks. This is driving the demand for security printing services. However, the challenges in the security printing market hinder its growth, such as the increasing adoption of digital documents, and high cost of security printing.   

Recent developments in the Security Printing Market

• In Sep 2021: Agfa, Interprint, partnered with Koenig & Bauer partner for digital décor printing. Décor paper printing company Interprint expands its product range by deploying Agfa’s water-based pigmented inkjet ink.
• October 2021, TROY Group, a provider of security inks and coatings, formed a strategic partnership with Loffler Companies, a print solutions provider, to enhance its MICR (Magnetic Ink Character Recognition) print program. This collaboration aims to leverage Loffler's expertise in printing to strengthen TROY's MICR print solutions, benefiting organizations seeking secure and efficient check printing.