Micro Printing Industry to Grow at a CAGR of 29 percent till 2018
The global microprinting market is expected to increase from around $140m in 2013 to around $500m by 2018.
The micro-printing market is slated to grow at 28.99% CAGR for the next five years. The market is estimated to reach around $500 million by the year 2018. For the uninitiated, micro-printing is the process of printing very small text which is not legible for the naked eye unless it is magnified many fold on a note or item. It is most often used on currency as an additional anti-counterfeit measure. These days, however, micro-printing is used extremely frequently in packaging, ID cards, bank checks, and other items of value for the same purpose. Computer scanners or photocopiers are not able to detect the microprint unless it is done with a high resolution image sensor, and so, any copies made will effectively show a line or dotted line instead of the micro-text.
The reason why the micro-printing market is so popular now is to catch fraudulent activities. Microprints are now popular in driver’s licenses and employee IDs. This demand has boosted the growth of the $140 million industry significantly and will continue to boost it in the next five years, according to experts. Currency prints has proved to be a constant market for this industry.
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At present, the introduction of innovative products and services has seriously given the micro-printing market a major boost. Penn State University researchers recently discovered that cost effective artificial cells that were manufactured using the micro-printing method in the future can serve as a kind of drug and gene delivery device. They can also be used in biomaterial and bio sensing applications, which means the scope of micro printing is now considerably expanded.
Also, most global governments currently use micro printing as an additional security measure by printing some particular text on the currency note itself. The US $100 bill, which was released recently, has a micro printing of “One Hundred USA” that runs along the quill of the note. Moreover, identity cards like driver licenses, employee IDs are have been increasingly secured with micro-text printed on it by both governments and corporate industries to prevent fraud or misuse.
IndustryARC believes that with the development of the micro printing industry and the innovations currently done in the market, the capacity of this particular market has expanded definitely, and it has the potentials to do excellently in the next five years. The compound annual growth rate of the industry further shows the propensity of this market to get better in the future. The report prepared is segmented into different product types, like UV invisible marking, special inks, infrared ink marking, magnetic ink and other less significant types, where each segment is analyzed in great details to understand their individual impact in the coming five years.
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Oct 13, 2014