According to a new market research report published by Credence Research “Microprinting Market (by Ink & Technology: Micro-embossing, Magnetic Inks, UV & Infrared Inks and Special Inks; by Application: Currency, Stamps, Bank Cheques & Drafts, ID & Access Cards, Consumer Electronics, Packing & Logistics and Defense Application – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the Microprinting market was valued US$ 490.17 Mn in 2017 and estimated to grow with a CAGR of 4.8% during the forecast period from 2018 to 2026.
Counterfeiting is one of the biggest problem faced by modern human civilization which is not only costing governments and brands across the globe but also affecting millions of jobs across the globe. In a recent report published by European Union Intellectual Property Office (EUIPO) and Organization for Economic Co-operation and Development (OECD) more than 5.4 Mn people across the globe are expected to lose their jobs owing to piracy and counterfeiting cases. Several methods are undertaken by governments and global brands to fight forgery and microprinting is one of the better ways to overcome such illicit act to a greater extent. Owing to aforementioned factor, microprinting market and associated business are gaining momentum.
Microprinting is used across several applications such as currencies, stamps, official documents, and bank drafts & cheques in order to assure the authenticity of such high-value documents. Besides these documents, consumer product, white good, and packages & logistics also use microprinting on a considerable scale in order to facilitate and organize the storage and distribution structure. Furthermore, significance of microprinting in defense application and access control cards is also growing consistently. Incorporation of novice technology such as UV & infrared inks, magnetic inks, and other special inks in order to fortify the authenticity of microprinting. The overall microprinting market is expected to grow multifold along with the growth in aforementioned applications.
Few of the major notable players profiled in this research study include Hewlett-Packard Company, Zebra Technologies Corporation, Diagramm Halbach GmbH & Co. KG, Gallas Label & Decal, Team NiSCA, Micro Format Inc., Brady Inc., Saueressig GmbH Co KG., Videojet Technologies, Inc., HP Inc., Ricoh Company Ltd., Huber Group, Xerox Corporation, Printegra, and Canon Finetech Nisca Inc. among others. Global microprinting market is characterized by a number of small as well as global players and hence are highly fragmented. Microprinting is associated with critical and classified documents and hence the companies involved in microprinting market needs to build their creditability. Acquire long term government contracts is one of the prime business strategies adopted by major microprinting companies. Several other business strategies are discussed in detail in the research study.
The complete report is available at https://www.credenceresearch.com/report/microprinting-market
The Global Microprinting Market is Segmented into:
|Segmentation||By Ink & Technology (2016–2026; US$ Mn)|
|By Application (2016–2026; US$ Mn)|
|By Geography Segment (2016–2026; US$ Mn)|
*Complete segmentation list is on report page