Selbyville, Delaware, May 15, 2019 (GLOBE NEWSWIRE) --
The microprinting market is anticipated to rise from USD 550 million in 2018 to over USD 800 million by 2025, according to a 2019 Global Market Insights, Inc. report. Increasing demand for anti-counterfeiting products in various application segments will drive the market growth over the forecast period.
According to the Organization for Economic Co-operation and Development (OECD) and the EU’s Intellectual Property Office, the trade in counterfeit and pirated goods accounts for 3.3% of the global world trade. According to Germany-based Mechanical Engineering Industry Association (VDMA), the maximum number of counterfeits come from China, followed by Germany. This prevalence of plagiarism is forcing industries to implement security features to assure the authenticity of consumer product, and packages & logistics, resulting in microprinting market growth. The technology which prints characters and patterns invisible to the naked eye, has emerged as an affordable security solution for a number of industry verticals.
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The growing demand for cost-effective printing technology is further accelerating the microprinting market growth. The packaging industries require high-quality secured prints that can be used to identify and differentiate different packaged goods. The technique enables easy product identification and avoids product duplicity, which helps in improving the brand image of industries. In addition, the increasing adoption of microprinting solutions in passports, identity cards and other documents in various organizations is another major factor driving the growth of the global microprinting market.
The adoption of this printing technique is growing rapidly in the banking and financial services sector owing to the rise in counterfeiting of currencies and checks. According to Reserve Bank of Australia estimates, around 30,000 counterfeits are reported per year. The bank is incorporating innovative security features to secure currency from counterfeiting.
Microprinting technique is experiencing high adoption in various packaging applications. China is a major market due to the rapid growth of e-commerce and development in manufacturing consumer electronics in the country. The country exports a large number of consumer electronics products globally. The growing ecommerce sector is forcing industries to implement proper packaging and identification features for preventing counterfeiting, driving the microprinting market growth.
Browse key industry insights spread across 180 pages with 209 market data tables & 27 figures & charts from the report, “Microprinting Market Size By Substrate Type (Plastic, Paper, Metal), By Print Type (Single-Sided, Double Sided), By Product Type (Monochrome, Color), By End-Use (Banking & Finance, Corporate, Government, Healthcare, Packaging), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, Australia, Singapore, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/microprinting-market
North America microprinting market will expand at a CAGR of over 4% over the forecast timespan. The technique is being used in corporate and government sectors for printing employee identification cards and licenses as a security measure. The availability of affordable scanning and printing solutions has led to an increase in counterfeiting of the USD.
Players in the microprinting market include Zebra Technologies Corporation, Xerox Corporation, Wuhan Willita Marking and Packing Technology Co., Ltd., Videojet Technologies, Inc., Source Technologies, Micro Printing Systems Intl., Matica Technologies AG , Linx Printing Technologies, InkJet, Inc., Hewlett-Packard Company, Evolis, Control Print, Ltd. , and Canon Finetech Nisca, Inc., among others. The major players are engaged in manufacturing printing solutions that help in protecting sensitive documents from unauthorized duplication. They are implementing advanced and high-quality features in providing in-line printing, coding, and marking products.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.