It's in the Bank

It may be the digital era, but ensuring the security of printed documents and brand packaging is still a major concern for governments, businesses and the individual consumer. Banknotes, passports, identity cards, lottery tickets, tax revenue stamps, labels, driving licenses and even McDonald’s game chips are all subject to counterfeit activity. 

While the use of online banking and digital payments is growing, the global security printing market size is also poised to grow – by $8.45 billion during 2019-2023, according to a new report by Technavio. It is projected to progress at a CAGR of over 5% during the forecast period. One of the main drivers is the growth in tourism, leading to a demand for passports and visas, as well as birth and marriage certificates.

Blockchain, PayPal, Apple Wallet notwithstanding, banknotes are still very much in use – especially in developing countries. According to research from Smithers, banknote printing accounts for 35.8% of total value in the global security print market, itself valued at $27.2 billion in 2017. "The Future of Global Security Printing to 2022" forecasts a healthy growth rate of 4.8% per annum to generate a total value of $34.3 billion in 2022.

Both inks and paper for the security market are also projected to grow, according to "The Security Paper Market" research report. According to Data Bridge Market Research, the  global security paper market is set to witness a substantial CAGR of 5.75% in the forecast period of 2019-2026. 

The global security ink market is expected to be valued at approximately $700 million in 2019 and is projected to witness a CAGR of 4% over the forecast period 2020-2029, according to Market Research, Inc. in its  "Security Ink Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2029." 

Generally speaking, there is an extremely wide variety of security solutions in the print industry, said Brandon Wells of  Microtrace. Solutions are available and used that range from simple appearance of security to a mid-range that provides some security but could be counterfeited or fooled to high security solutions. 

When working with a brand to determine their level of need, printers need to know what level of security their client is looking for. The decision needs to be made early on by the brand about what they are truly trying to achieve - do they need and want security for protection and quality control for their brand and product? Or do they simply want an illusion of security to satisfy consumer or industry demand? The answer to that simple, distinguishing question will led them to the proper solution for their application.

Often in this industry, we see a few missteps taken by brands, Wells said.

“Most notably, the research and implementation of a security solution is pushed down into their supply chain," he said.

Goals are typically not aligned in this scenario. Supply chain vendors look to add a solution that is simple to implement that they can add a mark-up to. The goals at this level are not to protect the brand in the best way possible.

A simple illusion of security is implemented and brands no longer believe they have an issue with counterfeiting. Counterfeiting doesn’t disappear. Many systems in the market can be duplicated or fooled.

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Microtrace, one of the leading players in the printed security market, offers a range of security options, from high security labels that feature its Spectral Taggant ink to novelty inks such as UV/IR that change color when exposed to UV light or a laser pen’s IR light. 

CSIR-National Physical Laboratory’s bi-luminescent security ink glows in red and green colors when illuminated by two different excitation sources at 254 nanometers (nm) and 365 nm, respectively. The formulation is used to check the authenticity of passports, government documents, tamper evident labels, identity cards, etc.

Within the packaging arena, advances in inkjet technology have expanded the amount of available security inks. Visible fluorescent inks are invisible to the naked eye, and can only been seen under an ultraviolet or black light, which causes it to fluoresce.

Chicago-based Nosco, which specializes in printed packaging for the health and pharmaceutical industries, has a dedicated production line featuring an HP Indigo WS6600 digital press. The company uses HP Indigo ElectroInk Invisible Yellow, visible under UV light,  and HP Indigo Security ElectroInk 523 infrared ink.

To meet customer requirements for heightened security, De La Rue, reported to be the largest security printer and papermaker in the world – although it is now facing financial difficulties – is creating more polymer notes and using color-shifting ink.

De La Rue is the sole printer of Bank of England banknotes. Designed and manufactured by De La Rue and printed on its Safeguard polymer substrate, the new banknotes also boast additional security features, including color-shifting metallic ink. In addition, new £20 banknotes for the Royal Bank of Scotland and Clydesdale feature a holographic foil in their windows with imagery relevant to the banknotes.

Toppan Printing, a major player in the security printing arena, among others, has its own cadre of passport and ID-related solutions, including the IN-signia, the Crystagram PC, the CP500 printer and the Power Perso DLE laser engraving printer. IN-signia, announced in 2019, is a new feature for the polycarbonate data pages of passports. An aluminum graphic is embedded into a clear window, and a second photograph of the passport owner is laser engraved on top of it. This enables high visibility, while helping to prevent photograph counterfeiting from the rear side, because the graphic protects the photograph. 

Crystagram PC is a hologram that can be embedded into polycarbonate substrates used for ID cards and passport data pages. With Crystagram PC, issues of low brightness and low visibility resulting from transfer and laser engraving processes have been overcome by facilitating low temperature transfer to create a hologram with high brightness and outstanding design.

Holograms are a popular method to keep items such as passports and ID card secure. According to ITW, a leading manufacturer of products for ID and Secure Document production, by the end of 2016, 89% of passports had holograms (compared to 60% in 2006). 

A new generation of holograms are leveraging technology advancements to ensure security of banknotes and other official documents. Surys’ Spectreod won the Innovation in Holographic Technology category at the Excellence in Holography Award 2018 for its hologram that uses advanced phase shifting micro-optic authentication elements, which allows the viewer to identify information using a smartphone light source. When observed under a light source, pre-selected floating colored information appears that follows the movement of the light. This can help to quickly confirm the authentication of a document or banknote. 

The Singapore University of Technology and Design has developed a new holographic security device that shows as a color image when viewed in white light, but reveals up to three different hidden holographic projections under red, green and blue laser illumination. It’s reported to be the first time that holograms have been encrypted into a color print for enhanced optical security applications across a range of ID document security applications.

More developments are likely with new advances in in ink, color and holographic technology.