Global Microprinting Market to amass US $800 Mn by 2025

August 12, 2019

Worldwide microprinting market is projected to cross US $800 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.

As the number of cases of document forging are increasing, the governments around the globe are working on enhancing security and are adopting security printing techniques which in turn is driving the microprinting market. Dubai’s General Directorate of Residency & Foreign Affairs (GDRFA) detected more than 1000 fake travel documents at Dubai International Airport in April 2018 compelling the government to implement microprinting technique as a strong measure against forgery. Indian government is also applying microprinting for passport to enhance security.

Leading companies in the business sphere are offering advanced printing techniques for passport designing to ensure high security. Other technological innovations in microprinting with improved resolution, security, and quality are increasing the adoption of the product. One of the key players of the microprinting market, Videojet Technologies launched 1620 HR Continuous Inkjet (CIR) and 1650 High Resolution (HR) printer in April 2015 with the capability of printing text smaller than 0.6mm. Additionally, Xerox Corporation launched Xerox AltaLink Multifunction Printers in April 2019 which provides an extra layer of safety against network risks improving the security.

Based on the print type, the single-sided segment is presumed to dominate the product market owing to the necessity of adopting secure printing technologies for various packaging and government applications. The technique prevents the product duplicity by unique printing of packaging label, hence benefitting the packaging industry. While the government uses the single-sided technique for printing official documents, ID cards, and postal stamps. PR-C101 printers by NiSCA offers affordable printing solution for durable and high-quality micro printed plastic ID cards.

As cited in the report, the microprinting market from packaging applications is projected to witness significant growth owing to the adoption of detailed & informative packaging along with the ability to provide better product identification to avoid duplicity. With secure printing techniques, the manufacturers can safeguard their brand image globally. Moreover, shifting consumer product preferences are encouraging vendors to adopt microprinting for differentiating products, in turn bolstering the demand for the technique.

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In terms of regional prospect, Asia Pacific is anticipated to witness considerable growth over the forecast period. This can be attributed to the existence of numerous government agencies, banks and corporate organizations in the developing nations of the region. Swift economic expansion and burgeoning developmental activities in countries like India, China and Japan highlights the need for high-security and anti-fraudulent measures stimulating the growth of microprinting market in the region.

The key contenders of the microprinting market are focusing on developing microprinting solutions with features such as product marking, coding, and in-line printing to protect sensitive documents from fraudulent duplication. The companies profiled in the report include Control Print Ltd, Xerox Corporation, Videojet Technologies, Inc., William Frick & Company, Evolis, and Zebra Technologies Corporation.

Frequently Asked Questions (FAQ) :

According to the report, rising fraudulent activities have compelled worldwide governments to deploy secure printing methods which in turn is driving the microprinting market growth. Various market majors are providing superior printing techniques for creating passports. This factor along with advancements in technology pertaining to microprinting are further aiding the market expansion. Rising R&D activities in order to provide better quality and high-resolution printing are fostering the demand for microprinting solutions across the globe.
The report states that single-sided microprinting market segment is expected to register substantial growth during the forecast period. Rising adoption of microprinting in packaging industry in order to prevent product duplicity and increasing usage by government to develop ID cards, official documents and postal stamps are fueling the segmental growth.
The report cites that Asia-Pacific microprinting industry is presumed to expand significantly during the estimated timeframe. High presence of corporate organizations, government agencies and banks coupled with growing demand for anti-counterfeit and high security measures in financial and government sector are contributing towards popularity of microprinting across Asia-Pacific. Improving economy and increasing infrastructural development in China, Japan, and India are also augmenting the regional demand for microprinting.
The prominent companies operating in the microprinting market are Matica Technologies AG, Zebra Technologies Corporation, Xerox Corporation, Videojet Technologies Inc., the Needham Group, Team NiSCA, Source Technologies, Paul Leibinger GmbH & Co. KG, Microloght 3D, Micro Printing Systems Intl., Linx Printing Technologies, InkJet Inc., Hitachi Ltd., Wuhan Willita Marking and Packing Technology Co., Ltd., Hewlett-Packard Co., Hailek Electroc Co. Ltd., Evolis, Control Print Ltd., Citronix Inc., and Canon Finetech Nisca Inc.