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Security Seals Market Size, Industry Analysis Report By Seal Type(Cable Seals, Padlock, Bolt Seals, Plastic Seals, Electronic Tracking & Sensing Seals, Tamper-Evident Seals, Security Tape), By Material(Plastic, Metal), By Operation(Single Use, Reusable), By Mode(Manual, Automatic/ Electronic), By Distribution Channel(Online, Offline), By Application(Transport & Logistics, Retail, Banks/Cash in Transit, Security Station, Government, Chemicals & Pharmaceuticals, Utilities, Airlines, Healthcare, Refineries, Post & Courier Services) & Region – Forecasts

  • PUBLISHED ON
  • 2024-01-08
  • NO OF PAGES
  • 250
  • CATEGORY
  • Electronics & Communication

Global Security Seals Market Analysis by Seal Type, Material, Operation, Mode, Distribution Channel, Application, and Region and segments forecast till 2033

 

Market Overview

The global security seals market was worth USD 955.03 million in 2021 and is anticipated to amplify at a CAGR of 6.20% over 2022-2030, thereby amassing USD 925.22 million by the end of the assessment timeframe.

 

Report Scope

Report Attributes

Description

Market Size in 2022

USD 955.03 Million

Market Forecast in 2033

USD 925.22 Million

CAGR % 2023-2033

6.20%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

Seal Type, Material, Operation, Mode, Distribution Channel, Application

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

Acme Seals Limited, American Casting Mfg., Hoefon Security Products B.V., J. Keller & Associates, Inc., JW Products Limited, Mega Fortis Group, Transport Security, Inc., Tyden Group, Unisto Ag, W.W. Grainger, Inc, ELC, EnvoPak, LegHorn, Precintia, and Shanghai JingFan Container Seal

 

Security seals are tamper evident tools used to seal packaging materials, containers, or any goods to prevent contamination or theft. These seals are predominantly used to secure vessel containers, truck trailers, utility meters, airline duty-free trolley, and chemical drums. They are considered as one of the most cost effective way of securing goods in sensitive spaces.

 

Suring security concerns in sectors such as banking, courier service, and manufacturing along with the rapid increase in global trade are creating lucrative opportunities for the market to prosper. Moreover, the functionality and flexibility offered by security seals is accelerating their demand on a global level. Also, growing efforts of the industry players to develop cost-effective products using technological innovations is positively swaying the dynamics of this market place. However, high initial set up costs and the availability of alternative tamper evident packaging and sealing solutions are hindering the industry development to a large extent.

E-commerce platforms have been gaining massive popularity owing to the rising penetration of mobile phones and other smart devices. There has been a growing trend of e-shopping as it enables buyers to purchase anything they want without leaving the comfort of their homes. Moreover, they also get to enjoy a more tailored shopping experience as they can check product information and customers review at any time. This in turn has created a high demand for security seals to secure the products ordered by customers during the entire shipment cycle.

With rapid economic growth in various regions, there has been a sharp rise in the per capita income of the masses. This has further increased the purchasing power of the people, thereby resulting in massive developments in the e-commerce sector. This in turn has created lucrative opportunities for the security seals market to prosper.

 

Seal Type Insights

The Cable Seals segment is anticipated to witness significant progression over the projected timeline.

 

Material Insights

The metal segment is anticipated to garner substantial returns over the analysis timeline. This is credited to adoption of metal security seals to secure products of high importance including electronic devices and jewelry items.

Operation Insights

The Single Use segment is poised to capture a high market share over 2022-2033 attributing to rising adoption worldwide.

 

Mode Insights

The Automatic/ Electronic segment is poised to capture a high market share over 2022-2033 attributing to rising adoption and increasing penetration worldwide.

 

Distribution Channel Insights

The Offline segment is poised to capture a high market share over 2022-2033 attributing to rising adoption and increasing penetration worldwide.

 

Application Insights

The transport & logistics segment is poised to register notable gains ascribing to rising trends of online shopping among the masses.

 

Regional Insights

North America, Asia Pacific, Middle East & Africa, Europe, and South America are the primary regions constituting the geographical landscape of this business sphere. The security seals market in Asia Pacific is projected to expand with a high CAGR over 2022-2030 attributing to large scale usage of security seals in logistics and transportation industries.

 

Competitive Analysis

The prominent players influencing the industry trends are Acme Seals Limited, American Casting Mfg., Hoefon Security Products B.V., J. Keller & Associates, Inc., JW Products Limited, Mega Fortis Group, Transport Security, Inc., Tyden Group, Unisto Ag, W.W. Grainger, Inc, ELC, EnvoPak, LegHorn, Precintia, and Shanghai JingFan Container Seal.

The listed companies are emphasizing towards the expansion of their product portfolio to further strengthen their industry presence. To meet these growth goals, they are adopting various strategies including mergers & acquisitions, research & development investments, innovative product launches, partnerships, and collaboration deals.

 

Global Security Seals Market- Segmental Analysis

By Seal Type

• Cable Seals

• Padlock

• Bolt Seals

• Plastic Seals

• Electronic Tracking & Sensing Seals

• Tamper-Evident Seals

• Security Tape

• Others

 

By Material

• Plastic

• Metal

 

 

By Operation

• Single Use

• Reusable

 

By Mode

• Manual

• Automatic/ Electronic

 

By Distribution Channel

• Online

• Offline

 

By Application

• Transport & Logistics

• Retail

• Banks/Cash in Transit

• Security Station

• Government

• Chemicals & Pharmaceuticals

• Utilities

• Airlines

• Healthcare

• Refineries

• Post & Courier Services

• Others

 

 

Why to buy this Report?

The report provides quantitative and qualitative aspect for Security Seals Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Security Seals Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

•             Business Model

•             Production Capacity, Revenue, Sales, Gross Margin

•             Key Business Strategy

•             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:

•             Company Share Analysis from 2020-2022

•             Company Analysis by Revenue and Sales

•             Company Production Capacity, Gross Margin

•             Company Share Analysis by Application/End Use

•             Company Share Analysis by Product/Specification

1. Global Security Seals Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. Security Seals Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years – 2020 to 2021

1.3.2. Projected Data Reporting Years – 2022 to 2033

1.3.3. Reporting Data Parameters – Value (US$ Million)

1.4. Global Security Seals Market Scope and Market Estimation

1.4.1. Global Security Seals Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global Security Seals Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. Security Seals Market Segmentation

1.5.1. Seal Type of Global Security Seals Market

1.5.2. Material of Global Security Seals Market

1.5.3. Operation of Global Security Seals Market

1.5.4. Mode of Global Security Seals Market

1.5.5. Distribution Channel of Global Security Seals Market

1.5.6. Application of Global Security Seals Market

1.5.7. Key Regions of Global Security Seals Market

 

2. Global Security Seals Market - Executive Summary

2.1. Global Security Seals Market – Summary & Snapshot

2.2. Global Security Seals Market, By Seal Type (US$ Million)

2.3. Global Security Seals Market, By Material (US$ Million)

2.4. Global Security Seals Market, By Operation (US$ Million)

2.5. Global Security Seals Market, By Mode (US$ Million)

2.6. Global Security Seals Market, By Distribution Channel (US$ Million)

2.7. Global Security Seals Market, By Application (US$ Million)

2.8. Global Security Seals Market, By Geography (US$ Million)

2.9. Global Security Seals Market Outlook & Future Opportunities

 

3. Security Seals Market Trends, Outlook, and Factors Analysis

3.1. Global Security Seals Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global Security Seals Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. Security Seals Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers

3.2.1.1. Rising concern of security in different industries such as retail, banking, courier services, and others is anticipated to drive the market growth

3.2.1.2. Rapid expansion of Transport & Logistic Industry is expected to trigger the market growth

3.2.1.3. Increasing demand of customized solutions for security seals

3.2.2. Restraints

3.2.2.1. Increasing alternative of other materials (bio-degradable material) may impede the market growth

3.2.3. Opportunities

3.2.3.1. Technological advancements in security seals

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter’s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of Security Seals Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of Security Seals Market

3.9.1. By Seal Type

3.9.2. By Material

3.9.3. By Operation

3.9.4. By Mode

3.9.5. By Distribution Channel

3.9.6. By Application

3.9.7. By Regions

 

4. Global Security Seals Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global Security Seals Market, 2020 – 2021 (US$ Million)

4.2. Global Security Seals Market, By Seal Type, 2020 to 2021 (US$ Million)

4.3. Global Security Seals Market, By Material, 2020 to 2021 (US$ Million)

4.4. Global Security Seals Market, By Operation, 2020 to 2021 (US$ Million)

4.5. Global Security Seals Market, By Mode, 2020 to 2021 (US$ Million)

4.6. Global Security Seals Market, By Distribution Channel, 2020 to 2021 (US$ Million)

4.7. Global Security Seals Market, By Application, 2020 to 2021 (US$ Million)

4.8. Global Security Seals Market, By Region, 2020 to 2021 (US$ Million)

 

5. Global Security Seals Market Estimates & Forecast Trend Analysis, by Seal Type

5.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Seal Type, 2022 & 2033

5.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Seal Type, 2022 to 2033

5.2.1. Cable Seals

5.2.2. Padlock

5.2.3. Bolt Seals

5.2.4. Plastic Seals

5.2.5. Electronic Tracking & Sensing Seals

5.2.6. Tamper-Evident Seals

5.2.7. Security Tape

5.2.8. Others

 

6. Global Security Seals Market Estimates & Forecast Trend Analysis, by Material

6.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Material, 2022 & 2033

6.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Material, 2022 to 2033

6.2.1. Plastic

6.2.2. Metal

 

7. Global Security Seals Market Estimates & Forecast Trend Analysis, by Operation

7.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Operation, 2022 & 2033

7.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Operation, 2022 to 2033

7.2.1. Single Use

7.2.2. Reusable

 

8. Global Security Seals Market Estimates & Forecast Trend Analysis, by Mode

8.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Mode, 2022 & 2033

8.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Mode, 2022 to 2033

8.2.1. Manual

8.2.2. Automatic/Electronic

 

9. Global Security Seals Market Estimates & Forecast Trend Analysis, by Distribution Channel

9.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Distribution Channel, 2022 & 2033

9.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Distribution Channel, 2022 to 2033

9.2.1. Online

9.2.2. Offline

 

10. Global Security Seals Market Estimates & Forecast Trend Analysis, by Application

10.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033

10.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033

10.2.1. Transport & Logistics

10.2.2. Retail

10.2.3. Banks/Cash in Transit

10.2.4. Security Station

10.2.5. Government

10.2.6. Chemicals & Pharmaceuticals

10.2.7. Utilities

10.2.8. Airlines

10.2.9. Healthcare

10.2.10. Refineries

10.2.11. Post & Courier Services

10.2.12. Others

 

11. Global Security Seals Market Analysis and Forecast, by Region

11.1. Global Security Seals Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

11.2. Global Security Seals Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033

11.2.1. North America

11.2.2. Europe

11.2.3. Asia Pacific

11.2.4. Middle East and Africa

11.2.5. Latin America

 

12. North America Security Seals Market: Estimates & Forecast Trend Analysis

12.1. North America Security Seals Market Assessments & Key Findings

12.2. North America Security Seals Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3. North America Security Seals Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

12.3.1. By Seal Type

12.3.2. By Material

12.3.3. By Operation

12.3.4. By Mode

12.3.5. By Distribution Channel

12.3.6. By Application

12.3.7. By Major Country

12.3.7.1. The U.S.

12.3.7.2. Canada

 

13. Europe Security Seals Market: Estimates & Forecast Trend Analysis

13.1. Europe Security Seals Market Assessments & Key Findings

13.2. Europe Security Seals Market Share (%) Estimates and Forecasts, 2022 & 2033

13.3. Europe Security Seals Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

13.3.1. By Seal Type

13.3.2. By Material

13.3.3. By Operation

13.3.4. By Mode

13.3.5. By Distribution Channel

13.3.6. By Application

13.3.7. By Major Country

13.3.7.1. Germany

13.3.7.2. The U.K.

13.3.7.3. France

13.3.7.4. Italy

13.3.7.5. Spain

13.3.7.6. Rest of Europe (includes all other European countries)

 

14. Asia Pacific Security Seals Market: Estimates & Forecast Trend Analysis

14.1. Asia Pacific Security Seals Market Assessments & Key Findings

14.2. Asia Pacific Security Seals Market Share (%) Estimates and Forecasts, 2022 & 2033

14.3. Asia Pacific Security Seals Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

14.3.1. By Seal Type

14.3.2. By Material

14.3.3. By Operation

14.3.4. By Mode

14.3.5. By Distribution Channel

14.3.6. By Application

14.3.7. By Major Country

14.3.7.1. China

14.3.7.2. Japan

14.3.7.3. India

14.3.7.4. ASEAN

14.3.7.5. South Korea

14.3.7.6. Rest of Asia Pacific (includes all other Asia Pacific countries)

 

15. Middle East & Africa Security Seals Market: Estimates & Forecast Trend Analysis

15.1. Middle East & Africa Security Seals Market Assessments & Key Findings

15.2. Middle East & Africa Security Seals Market Share (%) Estimates and Forecasts, 2022 & 2033

15.3. Middle East & Africa Security Seals Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

15.3.1. By Seal Type

15.3.2. By Material

15.3.3. By Operation

15.3.4. By Mode

15.3.5. By Distribution Channel

15.3.6. By Application

15.3.7. By Major Country

15.3.7.1. GCC

15.3.7.2. South Africa

15.3.7.3. Egypt

15.3.7.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)

 

16. Latin America Security Seals Market: Estimates & Forecast Trend Analysis

16.1. Latin America Market Assessments & Key Findings

16.2. Latin America Security Seals Market Share (%) Estimates and Forecasts, 2022 & 2033

16.3. Latin America Security Seals Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

16.3.1. By Seal Type

16.3.2. By Material

16.3.3. By Operation

16.3.4. By Mode

16.3.5. By Distribution Channel

16.3.6. By Application

16.3.7. By Major Country

16.3.7.1. Brazil

16.3.7.2. Mexico

16.3.7.3. Rest of Latin America (includes all other Latin America countries)

 

17. Competitive Landscape

17.1. Security Seals Market Revenue Share Analysis (%), by Major Players (2021)

17.2. Security Seals Market Competition Matrix, by Leading Players

17.3. Security Seals List of Emerging, Prominent and Leading Players

17.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.

 

18. Company Profiles

18.1. Acme Seals Limited

18.1.1. Company Overview & Insights

18.1.2. Financial Performance

18.1.3. Product / Service Portfolio

18.1.4. Geographical Footprint & Share

18.1.5. Strategic Initiatives & Key Developments

 

*Similar details would be provided for all the players mentioned below

18.2. American Casting Mfg.

18.3. Hoefon Security Products B.V.

18.4. J. Keller & Associates, Inc.

18.5. JW Products Limited

18.6. Mega Fortris Group

18.7. Transport Security, Inc.

18.8. Tyden Group

18.9. Unisto Ag

18.10. W.W. Grainger, Inc.

18.11. ELC

18.12. EnvoPak

18.13. LegHorn

18.14. Precintia

18.15. ShangHai JingFan Container Seal

18.16. Others

 

19. Assumptions and Research Methodology

19.1. Data Mining

19.2. Secondary Research

19.3. Primary Research

19.4. Subject Matter Expert Advice

19.5. Quality Check

19.6. Final Review

19.7. Data Triangulation

19.8. Bottom-Up Approach

19.9. Top Down Approach

19.10. Research Flow

19.11. Key Insights from Industry Experts

19.12. Data Sources

19.13. Assumptions

19.14. Limitations

 

20. Conclusions and Recommendations

20.1. Key Research Findings and Conclusion

20.2. Key Insights & Recommendations from Analysts

Quality Assurance Process

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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