Global Security Seals Market By Type (Cable Seals, Padlock, Bolt Seals, Plastic Seals, Electronic Tracking and Sensing Seals, Tamper-Evident Seals and Others); By Application (E-Commerce, Cash in Transit, Security Station, Government, Chemicals Utilities, Airlines and Transportation, Post Services, Customized Solutions and Others) and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030.
Security seals are a tool used to seal the containers, packaging material or other products in a manner that offers some degree of security and protection against abuse. Such seals can help users avoid contamination, either accidental or intentional, by theft. Protection seals are widely used to protect duty-free vessel containers, truck trailers, gas barrels, service meters, and airline trolleys.
Global Security Seals Market size was registered at USD XX billion in 2019, and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030. Security seals are made more cost-effective by technical developments in safety seals. It is expected that the production of stronger and more sophisticated security seals would improve the demand for safety seals. In addition, mixed metals or specialized materials are more difficult to crack but make obvious slight hacking attempts, which in turn drive the seals industry as well.
Global Security Seals Market: Segments
Global Security Seals Market is segmented on the basis of type, application and region.
By Type (in %), Global Security Seals Market, 2019
By type the market can be segmented into Cable seals, Padlock, Bolt Seals, Plastic Seals, Electronic Tracking and Sensing Seals, Tamper-Evident Seals and Others.
Global Security Seals Market Dynamics:
Rising global trade and government regulations to increase market growth
Rising global trade is expected to be a major factor improving the global Security Seals Market. Global trade is rising at 3.8 per cent per year, according to the International Monetary Fund (IMF). This drives the transport and logistics industries, which in turn boosts the market for safety seals. Owing to its broad use in the transport and logistics industries, safety seals are preferred. Their versatility and durability are expected to further fuel demand. In addition, it is also expected that stringent legislation implemented by regional and government bodies to pursue healthy and secure business practices across diverse industries would drive the seals industry.
Limited applications and availability of substitutes to hinder the market growth
Global Security Seals Market: Regions
In terms of value and volume, APAC accounted for XX% of total market volume share in 2019
APAC region has shown tremendous sales potential for new opportunities in the security seal industry. In expanding this regional sector, strides made by the e-commerce industry were a strong undercurrent. With numerous features and real-time monitoring, brands become cautions about the issues of unauthorized access demand solutions. The rising customization trend has spurred new business opportunities in North America. Technological developments are also increasing demand in the regional market.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC and MENA.
Global Security Seals Market: Competitive landscape
Key players are launching innovative products and providing users with reliable security solutions which are expected to improve security seal sales. In addition, emerging players across the globe are emphasizing the production of a wide range of safety seals and providing tailored solutions to meet rising consumer needs.
Global Security Seals Market: Key players
• American Casting
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• EJ Brooks
• Wenzhou Hengyue Seal
• Acme Seals
• WW Grainger
• Tyden Group
• Hoefon Security
• Other prominent players
Global Security Seals Market report also contains analysis on:
• Global Security Seals Market segments: –
• By Type:
o Cable seals
o Bolt Seals
o Plastic Seals
o Electronic Tracking and Sensing Seals
o Tamper-Evident Seals
• By Application:
o Cash in Transit
o Security Station
o Chemicals Utilities
o Airlines and Transportation
o Post Services
o Customized Solutions
• Global Security Seals Market dynamics
• Global Security Seals Market size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints