According to the new report The Future of Global Security Printing Markets to 2020, the worldwide market for security printing will grow from $20.5 billion in 2010 to $36.6 billion in 2020, at a compound average annual growth rate (CAGR) of 6.0% for the 10-year period. During 2010-15 the market grew with a CAGR of 6.1%. The CAGR for 2015-2020 is predicted to be 5.9%, an indication of the growing pressure of digital technologies supplanting traditional print solutions.
Two-thirds of the growth can be attributed to two end-use markets. Banknotes, the largest end-use segment, compensated for the declining rate of growth in terms of volume through higher prices charged for durable banknotes and premium security features; the tax stamps end-use segment is anticipating a surge in demand towards the very end of the decade when global and European track-and trace mandates are implemented.
Inks and threads are expected to grow fastest with a CAGR of 8.0% and 8.6% respectively in the 2015–20 forecast period. The main driver for this growth is market demand for colour shift and movement in security features; holograms are adversely affected by this trend, resulting in a below market growth rate of 4.2%. The growth rate for biometrics will decrease substantially, as most identification programmes have shifted from mass enrolment to maintenance mode, and biometrics on mobile devices is not considered as security printing.
In 2015, the banknote end-use market accounted for 40% of the global market for security printing. Personal ID follows with a 29% market share, having been boosted by large-scale implementations of ePassport and National ID projects.