Middle East and North Africa Security Printing Market

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.

Exhibit: MENA Security Printing Market – By Countries

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 - Strategic Insights

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,

Middle East and North Africa Security Printing Market Strategic Insights

Middle East and North Africa Security Printing Market Segmentation Analysis

Middle East and North Africa Security Printing Market Report Highlights

Middle East and North Africa Security Printing Report Scope

Middle East and North Africa Security Printing Market Country and Regional Insights