Asia and Africa Security Printing Market

The Asia & Africa security printing market is expected to grow from US$ 1,121.79 million in 2021 to US$ 1,574.48 million by 2028. It is estimated to grow at a CAGR of 5.0% from 2021 to 2028.

Security printing involves printing confidential as well as security documents such as banknotes, passports, cheques, security tapes, tamper-evident labels, postage stamps, stock certificates, and identity cards. Security printing finds applications across various domains such as government offices; the stock market; corporate houses; and banking, financial services, and insurance (BFSI). In the government domain, security printing majorly involves printing passports, identity cards, currency notes, and bond papers. The banking sector involves the secured printing of passbooks, bank statements, cheques, etc. The requirement for security printing is increasing in the banking and corporate sector, owing to stringent regulations and norms with respect to the authenticity and legitimacy of the document.

The rise in instances of counterfeiting and forgery practices is expected to drive the security printing market over the forecast period in Asia & Africa. Counterfeiting practices are specifically prevalent across passports, banknotes, college degrees, identity cards, postage stamps, and salary slips. According to the Indian Minister for Road Transport and Highways, around 30% of driving licenses in India were fake in 2019. Security printing helps prevent forgery and tampering with the mentioned documents. Polymer substrate is an indispensable element utilized to produce security printing paper. The long life of the polymer has led to the increasing demand for plastic in the manufacturing of security printing papers. Developed nations are expected to increase the usage of hybrid security printing papers to ensure that their financial and legal documents are secured. Africa is expected to be an emerging security printing market as the economy is emerging with a growing count of industries and businesses. Industries and businesses require security printing for printing offer letters, appointment letters, salary slips, and other important documents. Lithographic (offset) printing finds many applications in government and corporation document printing, brand protection, asset management, tickets and event pass generation, and cheque and value documents printing. One of the benefits of lithographic printing compared to other forms of printing is consistent and high image quality.

Impact of COVID-19 Pandemic on Asia & Africa Security Printing Market Growth

In Africa, South Africa, Morocco, and Tunisia were among the worst-hit countries due to the COVID-19 pandemic. South Africa's property sector suffered severely during 2020. Owing to temporary office closures and reduced workforce, South Africa's deeds offices faced difficulties with the unpredictability of the COVID-19 pandemic. As of July 2020, 11 deeds offices in the country experienced backlogs. According to Property24, South Africa's leading property portal, around a 73% drop was observed in the registrations of the deed till July 2020. Reduction in deed registrations impacted the requirement for property registration papers printed in high security. On June 12, 2020, around 27,000 students in the College of Law (CLAW), the largest law faculty in Africa, appeared for an online examination. The online exams negatively affected the need for a hard copy of question papers printed in high-level security. On December 27, 2020, the Central African Republic and Niger held their presidential and parliamentary elections. This supported the production of ballot papers and helped the Asia & Africa security printing market grow to some extent. Owing to ease in restrictions and the opening of production facilities, the Asia & Africa security printing market is expected to grow promisingly in the near future.  

Asia & Africa Security Printing Market Revenue and Forecast to 2028 (US$ Million)

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Asia and Africa Security Printing Strategic Insights

Strategic insights for the Asia and Africa Security Printing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia and Africa Security Printing Report Scope

Asia and Africa Security Printing Regional Insights

The geographic scope of the Asia and Africa Security Printing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The security printing market studied in this report is bifurcated into Asia and Africa. The Asia security printing market is further segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia. In 2020, China held the largest share of the Asia security printing market, followed by Australia, India, Japan, South Korea, and the Rest of Asia. The African security printing market is bifurcated into North Africa and South Africa. In 2020, North Africa held a larger share of the African security printing market. Al Madina Development & Supply L.L.C., Al Ghurair Investment LLC, Hypertech Holograms L.L.C, JMBR Group, and Lithotech are key players operating in the market. Australian Electoral Commission (AEC), Election Commission of India (ECI), Electoral Commission of South Africa, and National Election Commission of the Republic of Korea are the election governing bodies that look after the ballot paper requirement.

Market Segmentation

The Asia & Africa security printing market growth is analyzed based on products and technologies. Based on products, the Asia & Africa security printing market size is segmented into security documents, plastic cards, ballot papers, and others. Based on technologies, the market share is segmented into digital printing, sheetfed offset printing, web offset printing, screen printing, and others. In terms of geography, the Asia & Africa security printing market is segmented into Asia and Africa. The key companies operating in the Asia & Africa security printing market include Al Ghurair Investment LLC, Al Madina Development & Supply L.L.C., Lithotech, Hypertech Holograms L.L.C, JMBR Group, Oumolat Security Printing LLC, United Security Printing, Pura Group, Gemini Graaphics Pvt. Ltd., and Shave & Gibson Packaging (Pty) Ltd.