Security inks are inks that have been designed to make it difficult or impossible to counterfeit documents such as currency, passports, visas, and identity cards. These inks usually contain special components that are not found in regular inks, such as fluorescent or phosphorescent dyes, invisible inks, or pigments that react to UV light or magnetic fields. The use and demand for security inks is growing rapidly due to the increased need for secure documents and the growing sophistication of counterfeiters. Governments, banks, and other organizations are turning to security inks to protect their documents and prevent fraud.
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The global security inks market size is projected to reach USD 3.9 billion by 2027, at a CAGR of 4.1% from USD 3.2 billion in 2022. Wide acceptance owing to the ease of adaptability of PSAs, their growing use in tapes and labels, and their high demand in the Asia Pacific are driving the growth of the overall market.
Asia Pacific is the largest security ink market. Security printing in China was pegged at more than USD 173 million in 2021 which is mainly driven by the increasing printing, reprinting, and circulation of currency in the country. For example, in August 2019, the Renminbi, which is a new edition of the fifth series of China’s currency, or the yuan, was officially launched with brighter colors and more enlightened anti-counterfeiting features.
North America is the second-largest market for security inks market mainly because the region is among the early adopters of different printing techniques in various manufacturing processes. Also, implementation of modern practices to prevent forgery such as photo integration, biometric identifier, barcode, reversed out text, embossing stamp, fluorescent serial numbers, Intranet False and Authentic Documents Online (iFADO), ink stamp, and gravure printing are expected to boost the market growth in North America.
Continuous developments in the security inks market are expected to help the market grow. The companies are providing products which will serve various applications. New product launches have also helped companies enhance their product portfolio.
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The key players following the strategies between 2019 to 2022 are SICPA Holdings S.A. (Switzerland), DIC Corporation (Japan), KAO Collins Corporation (US), Chromatic Technologies, Inc. (US), and INK Tec Inc. (US) and others.
