Middle East and North Africa Security Printing Market to Reach US$ 2.41 Bn at a CAGR of 4.5% in 2027

Middle East and North Africa Security Printing Market to 2027 - Regional Analysis and Forecasts by Printing Process (Screen Printing, Letterpress Printing, Intaglio Printing, Digital Printing, and Others), Application (Banknotes, Cheques, Ticketing, Stamps, Payment Cards, Personal ID, Brand Protection, and Passports)

Publication Month : Nov 2019

  • Report Code : TIPRE00007524
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 145
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The Middle East and North Africa (MENA) security printing market was valued US$ 1.60 Bn in 2018 and is expected to reach US$ 2.41 Bn by 2027 with a CAGR growth rate of 4.5% in the forecast period from 2019 to 2027.



From the past decade, the MENA high-security printing has experienced healthy growth, and the growth is driven by better economic performance, rising incomes, and infrastructure modernization across the region. Counterfeiting practices are particularly spread in banknotes, cheques, ticketing, stamps, payment cards, personal ID, brand protection, and passports applications. Security printing solutions help in the prevention of tampering of various applications; also the security has become the fastest developing and most important technology in the printing industry. The industry does not only secure printed documents, such as banknotes, cheques, and others, but also reduces the risk of increased danger and cost of counterfeiting and forgery. Security printing solutions reduces the production of counterfeit currency and security documents across the MENA region. The Saudi Arabia security printing market is expeted to witness an CAGR growth rate of 3.9% from 2019 to 2027.

MENA Security Printing Market – By Countries

MENA Security Printing Market – By Countries
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MENA Security Printing Market Insights

Increased Awareness Regarding Measures to Safeguard Personal Information

Security printing techniques are highly preferred to be used in documents that carry confidential information regarding an individual. During recent years, the use of materials such as e-passports and national ID cards has increased significantly. E-passports, also known as biometric passports, include a chip that can be used at the automated e-passport gates. The embodied chip holds similar information, which is printed on the passport's data page. E-passports are designed in a manner to increase security, which makes it more challenging to alter the data recorded on a passport and hence limiting the chance of fraud. Thus, driving the growth of the security printing market during the coming years.

Rise in the Incidences of Bank Forgeries

Financial fraud is among the most commonly faced issue among financial institutions, including banks present across the globe. The malpractice causes significant losses and depletion of wealth and assets. Financial fraud also hurts the reputation of a concerned institution, its competitiveness, and the economic value. Most of the cases can be due to the adoption of modern technology and advanced communication, such as the wireless mode since they are used by fraudsters to carry their operations and help them to improvise their skills and competences in connection with committing fraud. Thus, growing demand to prevent bank forgeries continue drive the growth of security printing market across the MENA region.

MENA Security Printing Market – Printing Process Insights

Process printing a process of making reproductions of a colored picture by utilizing four halftone plates in red, yellow, blue, and usually black for different colored inks. There are different types of printing processes. The primary printing processes are offset lithography, engraving, thermography, reprographics, digital printing, letterpress, screen, flexography, and gravure. Almost every commercial printer uses offset lithography; it is the workhorse of printing. However, the quality of the final product is usually due to the guidance, expertise, and equipment provided by the printer. The MENA Security Printing Market, based on printing process is segmented into screen printing, letterpress printing, intaglio printing, digital printing, and others.

MENA Security Printing Market – Application Insights

Security printing market, based on application was segmented into banknotes, cheques, ticketing, stamps, payment cards, personal id, brand protection, and passports. In 2018, the banknotes segment held the largest share of the market, by application. However, stamps segment is expected to grow at the fastest rate during the coming years owing to their growing demand from different industry verticals. Thus, stamps are expected to witness a surge in market demand.

MENA Security Printing Market -

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Middle East and North Africa Security Printing Market: Strategic Insights

middle-east-and-north-africa-security-printing-market
Market Size Value inUS$ 1.60 Billion in 2018
Market Size Value byUS$ 2.41 Billion by 2027
Growth rateCAGR of 4.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Some of the market initiatives were observed to be most adopted strategy in the MENA security printing market. Few of the recent market initiatives adopted by the market players operating in the security printing market are listed below:

2018:

Along with the Iraqi Ministry of Interior, Veridos is building a new identity document factory in the Republic of Iraq.

2017:

The Republic of Zambia contracts Veridos to deliver polycarbonate electronic ID cards to Zambia. The new eID card, which is equipped with a contactless chip, fulfils the highest quality standards and offers convenient multi-application options to Zambian citizens.

2016:

The Hashemite Kingdom of Jordan has awarded Veridos a contract to produce and deliver its passports for the next few years.

MENA SECURITY PRINTING MARKET SEGMENTATION

MENA Security Printing Market – By Printing Process

  • Screen Printing
  • Letterpress Printing
  • Intaglio Printing
  • Digital Printing
  • Others

MENA Security Printing Market – By Application

  • Banknotes
  • Cheques
  • Ticketing
  • Stamps
  • Payment Cards
  • Personal ID
  • Brand Protection
  • Passports

MENA Security Printing Market – By Countries

  • Saudi Arabia
  • Egypt
  • UAE
  • Bahrain
  • Oman
  • Kuwait
  • Jordan
  • Lebanon
  • Iraq
  • Rest of MENA 

MENA Security Printing Market - Company Profiles

  • JMBR Group
  • Oumolat Security Printing LLC
  • United Security Printing
  • Al Ghurair Printing & Publishing LLC (AGPP)
  • Al Madina Development & Supply LLC (ADS)
  • Alpha Ink & Printing Materials Trading Co. L.L.C
  • Andrupos
  • Emirates German Security Printing L.L.C.
  • HP Development Company, L.P.
  • Hypertech Holograms L.L.C,
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Printing Process, Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Saudi Arabia

The List of Companies

 

  1. JMBR Group
  2. Oumolat Security Printing LLC
  3. United Security Printing
  4. Al Ghurair Printing & Publishing LLC
  5. Al Madina Development & Supply LLC
  6. Alpha Ink & Printing Materials Trading Co. L.L.C
  7. Andrupos
  8. Emirates German Security Printing L.L.C.
  9. HP Development Company, L.P
  10. Hypertech Holograms L.L.C

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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  • Validates and strengthens in-house secondary research findings
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

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  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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