According to BlueWeave Consulting, the global Microprinting market is anticipated to worth USD 668 million by 2025, with a CAGR of 4.8% during 2019-2025. The Global Microprinting Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to rising demand for microprinting in Currency and stamps sector to avoid any misuse and fraud. The demand for Microprinting for its development and introduction of innovative products, coupled with its cost-effective, has improved its uses in various industries will boost the Microprinting market in the upcoming year.
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Moreover, the major factor driving the market growth is the growing use of Microprinting in the healthcare industry for biomaterials and biosensing applications. Furthermore, the rising demand for microprinting in the packaging industry to stop duplicity and fraudulent will accelerate the growth of the Microprinting market. Additionally, increasing demand for microprinting in, education, and corporate applications, postage stamps, employee ID cards, event badges, and membership ID cards will contribute to Microprinting market growth during the forecast period.
Furthermore, the high adoption of microprinting technology in packaging applications such as in consumer electronics, for proper packaging, along with product information, which enables easy product identification and avoids product duplicity, are major drivers for the growth of global Microprinting market in the forecast period. Also, the rise in infrastructure spending and R&D activities in microprinting technology to improve more industries applications such as consumer electronics, healthcare, and security will augment the global Microprinting market in the forecast period.
Based on the Ink type, the Microprinting market segmented into micro-embossing, special inks, magnetic inks, UV invisible inks, infrared ink marking, and others. Magnetic inks dominate the global Microprinting owing to the growing demand for magnetic inks application in Private companies, government agencies, financial institutions, and other organizations which provide increased security through avoiding fraud. UV invisible inks market will influence by growing its application in various industries like banking, tax stamps, etc. for its features like transparent white or colorless and can only be detected under ultraviolet light.
Based on Substrate Type, the global Microprinting market segmented into Plastic, Paper, and Metal. Paper will lead the market due to the surge in demand for paper-based banknotes, tax stamps, and check slips for security purposes. Moreover, paper-based notes and documents made from cotton fibers to increase strength and durability. The plastic substrate market will soar by its uses to protect security documents against color separation or copying by subtly merging colors into each other.
Based on the Application type, the Microprinting market segmented into Banking & Finance, Government, Packaging, Healthcare, Education, and Corporate. By application type, Banking & Finance will lead the market owing to the growing adoption of Microprinting for preventing misuse of banknotes and checks. Packaging will flourish by growing usage of microprinting for brand protection and product safety against fraudulent.
Based on the region, the Microprinting market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific dominates the world Microprinting market over the forecast period owing to the increasing need for microprinting for official and government documents such as ID cards, driving licenses, national ID cards, and passports. The North American market will boom by the growing demand of microprinting for avoiding incidences of fraudulent activities and the introduction of fake currency in banking and finance organizations, government agencies, and corporate companies.
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Companies such as Xerox Corporation, Videojet Technologies, Inc., Matica Technologies AG, Brady Corporation, Zebra Technologies Corporation, HP Inc., Ricoh Company Ltd., Canon Finetech Nisca Inc., Source Technologies, SAFEChecks, Xeikon, Domino Printing Sciences PLC, Control Print Ltd., Data Carte Concepts, Evolis, Micro Format, Inc., Spectrum Positive, Printegra, Trustcopy, and William Frick & Company are the key players for manufacturing of Microprinting.
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