The Latin America, Middle East and Africa Security Printing Market would witness market growth of 6.4% CAGR during the forecast period (2021-2027).
Security lithography printing comprises the process of creating the images by utilizing a line structure formation and altering the colors along this line. Artificial 3-D effects are procured with this type of lithography that has become helpful in avoiding a simple replication from a counterfeiter. Moreover, the utilization of lithography offers a smooth change of color on a single printed line while printing. This method is also called rainbowing as it develops an enriched colorful effect, which is very tough to segregate into a single-color component.
Moreover, a biometric technology company, Zwipe designed and introduced a biometric payment card that is being utilized in banks across Brazil. Later, this organization joined hands with Thomas Sons & Greg do Brasil to undertake the development of these technologies.
The security printing market is gradually rising in LAMEA. Security printing helps in reducing unauthorized activities like tampering, counterfeiting, forgery, and money laundering. The growth of the market in this region is attributed to factors like growing income, the emergence of the latest technologies and machinery, raising awareness, and increasing demand. Additionally, marketing analytics tools and the presence of market players are driving the growth of the market. Moreover, third-party administrators, companies, and government agencies are focusing on introducing customer-centric products, which is anticipated to boost the growth of the regional market.
Further, the advent of high-end technology, which can detect original paper from forged ones, is one of the major factors contributing to the regional market growth. Furthermore, the demand for paper security in bank checks and currency notes is growing in this region. Thus, these factors are accountable to escalate the growth of the regional security printing market.
The Legal & Government Documents market dominated the South Africa Security Printing Market by Application in 2020, thereby, achieving a market value of $19.8 million by 2027. The Cheques market is estimated to grow at a CAGR of 6.7% during (2021 - 2027). The Certificates market is expected to witness a CAGR of 7.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Security Printing Market is Predict to reach $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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