Microprinting Market by Application (Banking & Finance, Government, Packaging, Healthcare, Education, Corporate), Geography - Global Forecast to 2024

[137 Pages Report] The microprinting market is expected to grow from USD 525 million in 2019 to USD 670 million by 2024, at a compound annual growth rate (CAGR) of 5.0%. Standards and regulations in the banking sector, and technological advancement in microprinting technology are the major factors driving the growth of the microprinting market.

Based on substrate, paper to be largest contributor in microprinting market in 2019

The large market share can be attributed to the high implementation of microprinting technology in paper-based banknotes, check slips, and postage stamps to avoid counterfeit. For example, the Federal Reserve System (US) and the European Central Bank (UK) widely use microprinting in its currency for security purpose. Most banknotes are made of paper, and almost all papers are made from cotton fibers to increase the strength and durability. In some cases, linen or forensic fibers are added to give paper added individuality and protect against counterfeiting.

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Single-sided print type to account for larger market by 2024

In terms of value, single-sided microprinting is likely to account for a larger share of the overall microprinting market by 2024. The growth is mainly attributed to the wide acceptance of single-sided microprinting in government, education, and corporate applications. Almost all postage stamps, employee ID cards, event badges, and membership ID cards use single-sided microprinting.

APAC to hold major share of microprinting market by 2025

APAC is likely to be the leading region in the adoption of microprinting technology. APAC is witnessing increasing use of microprinting technology-based printers owing to the presence of a large number of bank and finance organizations, government agencies, and corporate companies. Moreover, growing demand for security and anti-counterfeit measures in banking and finance, government, and education sectors is expected to drive the growth of the microprinting market in APAC. In addition, the markets in India, Japan, and China are more likely to govern the microprinting market in the coming years, in terms of adaptability and market size. Moreover, countries such as India and China are expected to witness high growth in the microprinting market because of growing developmental activities and rapid economic expansion.

Key Market Players

Xerox Corporation (US), Videojet Technologies, Inc. (US), Matica Technologies AG (Germany), Brady Corporation (US), Zebra Technologies Corporation (US), HP Inc. (US), Ricoh Company Ltd. (Japan), Canon Finetech Nisca Inc. (Japan), Source Technologies (US), SAFEChecks (US), Xeikon (Netherlands), Domino Printing Sciences PLC (UK), Control Print Ltd. (India), Data Carte Concepts (Canada), Evolis (France), Micro Format, Inc. (US), Spectrum Positive (UK), Printegra (US), Trustcopy (Singapore), and William Frick & Company (US) are among the major players in the microprinting market.

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