According to the preliminary data of the forthcoming Smithers report “the future of global safe printing to 2024″, the global security printing market is expected to reach 29.8 billion US dollars in 2019. Driven by market expansion in developing countries (especially in Asia, the Middle East and Africa), the total value will reach about US $37.7 billion by 2024.
The security printing industry is adapting to the new market reality, especially the widespread use of electronic payment and digital identity platform is threatening the long-term survival of the core market. The impact of these trends on personal ID card and banknote production will be limited over the Smithers five-year forecast period and will be offset by the growth of the new sector.
In the long run, this will bring a certain degree of uncertainty. In response, well-known companies in the private sector security printing sector are diversifying their products. In particular, there is interest in extending the role of traditional high security printers to service delivery, including software and support for circulating documents.
In the next five years, different segments of the market will face new challenges and challenges. Smithers’ analysis determined that the following factors were most important.
Notes
By 2024, banknote printing will still be the most valuable part of the whole security printing industry, but it also faces new challenges.
In general, state-owned banknote printers account for about 80% of banknote production, and occupy a strong position in the world’s largest banknote printing machine market, such as China and India. This, coupled with declining orders in developed markets, is putting pressure on commercial printers.
It is worth mentioning that the increase in durability and the widespread use of electronic payment methods have led to a decrease in orders for new banknotes in some currencies, such as the euro.
New opportunities that do exist will appear in developing markets, where there are smaller countries that do not have state printing. With the widespread use of credit cards, debit cards and mobile e-wallets, forecasts for future money demand have declined, but the popularity of these technologies depends largely on local infrastructure and state attitudes towards cash.
Personal identity document
In the case of personal identification documents, electronic certificates and verification will determine the trend of the 1920s. Physical documents will continue to be released – only a few countries, such as Estonia, have taken concrete steps to reduce the transition to a truly online platform. The trend in the medium term is to reduce the use of printed documents, with a significant reduction in the demand for new physical components and printing. This reflects the reorientation of the personal identification industry, bringing a series of new technologies into the electronic field to complete the authentication.
Brand protection packaging
Although it has a relatively small market share in the whole security printing market, the demand for intelligent and secure printing packaging makes it the second fastest growing part of the market.
The key challenge is to develop effective solutions for the packaging of goods sold through e-commerce, which is increasingly popular with consumers and has long been used by sellers of counterfeit goods. The industry will also benefit from the introduction of mandatory traceability of drug packaging and tamper proof functions.
Tax receipt
Legislation and international agreements have also driven new demand for printed tax receipts – especially for tobacco, but also for other commodities. The protocol to the WHO Framework Convention on tobacco control, which was ratified at the end of 2018, means that by 2023, all 168 contracting countries must introduce cigarette tracking systems. This will make stamp duty the fastest growing security document type in the next five years. The latest ISO 22382 standard provides guidance for a new generation of stamp duty.
From the perspective of the European Union’s revised tobacco product directive (TPD) 2014 / 40 / EU, the demand for tobacco Stamp Stamps has increased more directly.
Post time: Sep-21-2020