The Europe Security Printing Market would witness market growth of 4.1% CAGR during the forecast period (2021-2027).
Security printing deals in printing of documents in an authentic manner to reduce the chances of duplication. Identity cards, cheques, tax stamps, postage stamps, and banknotes are some of these documents that are printed in the security printing industry. Several sectors like banking, commercial, and government are witnessing a negative impact of document forgery, counterfeiting, and tampering. Moreover, these sectors are able to reduce the effect of these illegal activities as protective controls are put in place to protect them. High-tech security features are being adopted by government and commercial institutions for ID cards and documents as strategic measurements in order to reduce the risk of illegal activities.
The security printing market is growing at a faster rate in Europe. This surge is attributed to the rising financial crisis in several nations, the implementation of the latest technology to combat corruption, money laundering, and fake currency. The banknote series Europe is a legal tender that includes seven different denominations like EUR 500, EUR 200, EUR 100, EUR 50, EUR 20, EUR 10, and EUR 5. Additionally, these banknotes are incorporated with several security features that assist customers in recognizing an authentic banknote at once. The customers can easily identify that the note is authentic just by looking at it, tilting it, and feeling it.
Euro banknotes are made using pure cotton paper and deteriorate as it gets excessively used. The decentralized pooling method is used to print Euro banknotes under which production of banknotes is restricted to the aforementioned denominations. This method also pays special attention towards counterfeiting, the production processes, environmental protection, and the quality of the banknotes. Thus, it is estimated that these factors would create new growth avenues for the security printing market in the forthcoming years.
The Germany market dominated the Europe Certificates Security Printing Market by Country 2020, thereby, achieving a market value of $30.5 million by 2027. The UK market is exhibiting a CAGR of 3.5% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 5% during (2021 - 2027).
Based on Function, the market is segmented into Lithographic Printing, Digital Printing, Letterpress Printing, Screen Printing, Intaglio Printing and Others. Based on Application, the market is segmented into Legal & Government Documents, Cheques, Certificates and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Security Printing Market Size will Hit $3.8 Billion by 2027, at a CAGR of 4.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Document Security Systems, Inc., Agfa-Gevaert N.V. (IG Farben), Ennis, Inc. (Printegra), Graphic Dimensions, Inc., Plus Technologies LLC, TROY Group, Inc., Wellspring Software, Inc., Amgraf, Inc., Graphic Security Systems Corporation, and Printech Global Secure Payment Solutions LLC.
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