Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Microprinting Market size is expected to reach $1 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period.
The Monochrome market is leading the Global Microprinting Market by Type in 2021; thereby, achieving a market value of $630.6 million by 2028. This is due to the segment’s various advantages, which include low cost per printed page, improved text quality, and fast printing speed. Also, there is an increase in usage of online labeling and packaging in the e-commerce sector as many major players are working on labeling products with digital technology making it easy for them to trace parcels throughout the delivery process.
The UV Invisible Inks market is poised to grow at a CAGR of 6.3% during (2022 - 2028). This is because the UV invisible inks have increased rapidly in recent years as they are essential for microprinting stamps and currency, which is a widely used technique to decrease counterfeiting cases by providing a unique characteristic to the vital items, which makes it hard to duplicate. Thus, the increased usage of UV invisible rays for security is expected to propel the market segments’ growth.
The Labels market acquired highest revenue in Global Microprinting Market by Application in 2021; thereby, achieving a market value of $357 million by 2028. This is because of the protection from counterfeiting, diversion, and tampering that a label provides to any product. Labels preserve the company’s image, decrease the chance of product loss, and reduce liability concerns in addition to authenticating products to the user. Furthermore, labels are used to keep track of the products when they move through the supply chain.
The Double-sided market is anticipated to grow at a CAGR of 7.5% during (2022 - 2028). The growth of the segment is result of the reduced cost of printing on both sides (front and back) of the paper, which gets the work done using only half the amount of paper. In addition, double-sided paper creates less heft which makes the final product lighter. Hence, the double-sided printing segment is expected to grow due to these benefits.
The Paper market is generating maximum revenue in Global Microprinting Market by Substrate Type in 2021; thereby, achieving a market value of $463.9 million by 2028. This is because of the proper implementation of the microprinting technology in the paper, check slips, payment cards, ID cards, and postage stamps. Also, qualities like affordability, simple usage & handling, and easily available substrate than its other counterparts, is further driving the segment’s growth in the forecasted period.
The Packaging market is estimated to grow at a CAGR of 5.8% during (2022 - 2028). This is due to the rising usage of microprinting in the packaging industry. Most industry players are adopting this technique to save their products from duplication. Product safety and brand protection are essential for all sectors, and any counterfeiting can reduce the company's annual sales. The use of microprinting in labels, tag packages, and packaging-related boxes to ensure originality is expected to result in segment’s growth.
The North America market dominated the Global Microprinting Market by Region in 2021; thereby, achieving a market value of $338.1 million by 2028. The Europe market would showcase a CAGR of 5.5% during (2022 - 2028). Additionally, The Asia Pacific market is experiencing a CAGR of 6.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/microprinting-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hewlett-Packard enterprise Company (HP Development Company L.P.), Canon, Inc., Videojet Technologies, Inc. (Danaher Corporation), Zebra Technologies Corporation, Xerox Corporation, Ricoh Company, Ltd, Brady Corporation, Xeikon N.V., Hubergroup Deutschland GmbH, Matica Technologies group S.A.
By Ink Type
By Substrate Type
By Print Type
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