The Global Security Inks Market is projected to register a CAGR of over 4% during the review period. The growth of the global security inks market is primarily driven by the increasing number of forgery and counterfeiting activities in the banking and financial sectors across the globe. The use of security inks in consumer packaging application for product identification throughout the supply chain is another major driver of the global market growth. The introduction of techniques such as a biometric identifier, embossing stamp, reversed out text, fluorescent serial number, and ink stamp to counter the forging activities is expected to fuel the demand for security inks during the review period.
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Some of the prominent players in the global security ink are SICPA HOLDING SA (Switzerland), Sun Chemical (US), Microtrace, LLC (US), Guangzhou Mingbo Anti-Forgery Technology Co., Ltd (China), The Cronite Company (US), Naigai Ink Mfg. Co., Ltd (Japan), Kao Collins Corporation (US), Chromatic Technologies Inc (US), Gleitsmann Security Inks GmbH (Germany), and Chroma Inks (US).
Based on type, the global market has been classified into invisible, biometric, fluorescent, thermochromic, optically variable, magnetic, reactive, erasable, infrared, and others. The invisible ink is the most widely used ink for cheque printing and ID documents. This is due to the low cost and availability of colors. On the contrary, optically variable ink is extremely expensive and is used in passport and currency printing.
On the basis of printing methods, the global market has been categorized into letterpress, offset, intaglio, flexographic, silk screen, and others. Among these, flexography is extensively used due to the advantages of fast drying speed, low cost, and versatility. However, the flexography method also offers certain disadvantages such as harmful effects on the environment and high cost of set-up.
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By application, the global market has been segmented into banknotes, official identity documents, tax banderoles, security labels, consumer packaging, and others. The security labels segment is projected to register a significant CAGR due to the rising demand in the manufacturing of counterfeited products such as pharmaceuticals, electronics, and consumer goods.