The Micro Printing Market revenue totalled US$ 595.8 Mn in 2021 and is estimated to reach US$ 1,459.2 Mn by 2032, growing at a CAGR of 8.6% for 2022 – 2032.
| Attributes | Details |
|---|---|
| Estimated year (2022) Market Value | US$ 637.5 Million |
| Projected year (2032) Value | US$ 1,459.2 Million |
| CAGR% (2022 to 2032) | 8.6% |
| Top 5 Vendor Market Share | Around 35% |
Micro Printing is mainly used for consumer electronics packaging to print product information. Microprinting is an anti-counterfeiting process for printing small text or numbers on stamps, bank checks, currency and other similar items. These traces are invisible to the naked eye. The purpose of using micro printing for these documents is to improvise a defence of their authenticity. Copiers and computer scanners cannot see microtext without a high-resolution image sensor.
In the future, micro printing will make it difficult for scanners and copiers to reproduce these documents. Micro printing is one of the key technologies used to prevent fraudulent activities such as document, currency and check counterfeiting. Micro printing is the printing of extremely small characters that could not be read by the naked eye. Documents which contains micro printed characters could not be copied because these characters appear as a series of dots or solid lines when printed.
The micro printing market demand is estimated to grow at an 8.6% CAGR between 2022 and 2032 in comparison with 2.8% CAGR registered during the historic period (2017-2021).
The micro-printing process is widely accepted in various industries, especially for improving the security of employee ID cards and driver's licenses, thus boosting the growth of the micro printing market. Currencies and stamps are both obvious growths in the micro printing market. Various government policies and agencies aimed at improving the security of currency and certificates are boosting the growth of the micro-printing market. In addition, advances in ingenious Micro printing coupled with cost-effective techniques have enhanced their applications in various industries. These factors are likely to boost the growth of the micro printing market.
Micro printing is gaining momentum in the development of the characters and identical patterns with the advent of the new printers such as copiers, image scanning systems and pantographs.
There has been a significant increase in R&D activity to extend and innovate the range of micro printing systems. Players in the micro printing market have strived to increase the attractiveness of their products by balancing budget constraints that affect system sales.
As a result, a low-cost micro-printing technology was developed that reduced the cost per print and increased the print speed per hour. This has impacted the adoption rate of these printers and is expected to remain so for the next few years and contributing to the growing size of the microprinting market.
The East Asian regional market is estimated to grow by CAGR of 10.1% during the forecast period of 2022-2032 and the largest market share was held by North America of 23.3% in 2021.
East Asia's micro printing market held over 21.1% revenue share in 2021. This is due to the increased adoption of technology in various industries such as banking and finance, government agencies and corporate organizations. Demand for security and anti-counterfeiting solutions is expected to increase in education, enterprise, and government sectors, thereby driving the growth of the regional market.
North America has a large population, with strong economic conditions and has a large market for consumer electronics, packaging and ID cards.
The China micro printing market accounted for the highest market share of 17.8% in 2021. This is due to the biggest population with increased adoption of e-commerce sector which emphasises risk for fraud and introduction of counterfeit currency are the factors driving the growth of the micro printing market in China.
Rising sales of consumer electronics in China coupled with exports to numerous countries are expected to increase the acceptance rate of micro-printing systems for labelling products and their packaging. In addition, China's established banking sector uses these systems extensively for printing currency and designing check books.
The market for micro printing in India is estimated to grow at highest CAGR of 10.4% during the forecast period. owing to growing demand for microprinting of official and government documents such as ID cards, driver's licenses, passports, etc. The Indian market is booming due to the growing demand for microprinting to prevent fraud and the introduction of counterfeit currency in banks, financial institutions, government agencies and businesses.
Rise in financial fraud activities using counterfeit currency has increased the need for micro-printing devices, which is expected to provide lucrative growth opportunities for the Indian micro-printing market.
The USA is predicted to remain the most attractive market during the forecast period. According to the study, the USA micro-printing market is set to account for nearly 12.5% market share of total North America region.
The USA is home to many banks, government financial institutions, and corporate organizations, which has increased the use of printers based on micro printing technology. Increased development activities and rapid economic expansion in the USA are expected to witness high growth of the micro printing market. In addition, banking sector standards and regulations, expanding e-commerce sector, and technological advancements in micro-printing technology in the BFSI sector are key factors driving the growth of the USA micro-printing market.
The market for UV invisible ink in micro printing is estimated to grow at highest CAGR of 9.8% during the forecast period. UV invisible ink are fluorescent. That is these inks are invisible to naked eye but appear to glow under blacklight or UV.
In recent years, UV invisible ink which is also known as invisible ink has rapidly developed. Moreover, micro printing is widely used for anti-counterfeiting with UV Invisible Inks playing an important role in the micro printing of stamps and currency. The consistent growth in printing currency, postage stamps and bank documents has also helped UV invisible inks micro printing grow at a significant rate.
Packaging application to hold largest market share of micro printing market during forecast period which is accounted for 17.5% in 2021. Micro printing is currently implemented on packages, boxes, tags, and labels used in packaging applications. Packaging applications require high-quality printing, security, rapid product identification and fast print turnaround times. All industries need product security and brand protection as counterfeit products can impact annual sales.
Therefore, industry players are now focused on implementing the micro printing in packaging applications to enable product security and avoid product duplication. Therefore, the micro printing market for packaging applications is expected to drive the market for micro printing.
Acquisitions and mergers are the default expansion strategies of players operating in the micro printing market. In the micro printing market, we are also seeing trends in the development of novel printers that utilize cutting-edge technology and eco-friendly printers. For instance,
| Attribute | Details |
|---|---|
| Market Value in 2022 | US$ 637.5 Million |
| Market CAGR 2022 to 2032 | 8.6% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Region Covered | North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Type, Application and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The micro printing market was valued at US$ 595.8 Mn in 2021 and is estimated to grow at CAGR of 8.6% during the forecast period, which will reach the market value of US$ 1459.2 Mn by 2032.
China market is expected to show a rapid growth during the forecast period, where it will represent a CAGR of around 10.4%.
The micro printing market share in India was around 8.0% in 2021.
The micro printing market growth between 2022 and 2032 is around 8.6%.
The top 3 countries driving demand for cloud integration include the China, India and USA
Some of the leading companies in this landscape are Xerox Corporation, Videojet Technologies, Matica Technologies AG, Team NiSCA , Ricoh Company Ltd. among others.
The market in last 5 years (2017 – 2021) has grown by a CAGR of 2.8%.
UV invisible inks segment is expected to dominate the market in the year 2021, generating a maximum revenue, by the end of 2032.
Currency has the CAGR of 5.5% for the forecast period.
The estimated market value for micro printing market for the year 2023 is US$ 683.9 Mn.
For East Asia region, the CAGR for the forecast period is estimated to be 10.1%.
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Micro Printing Market
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